So many brides are so concerned about pulling back their plans and needling their vendors down (sometimes compromising on quality) to try to save money for their wedding. What many forget is that there are other simple ways to make money (other than having a full time job). You’re not going to become a millionaire overnight with these ideas, but wouldn’t it be great if you could make a bit of loose change for those ancillaries that always seem to creep up on you before the big day? We’ve come up with 5 dead easy ideas that really don’t require much extra effort, but guaranteed to be substantial enough to line your pockets before the big day arrives.
Got a credit card?
Now is the time to look at the amount of interest you are paying. Many interest rates can sit as high as 20%. If you do the math and check out your statement, you may be paying a small fortune on your interest alone. Look at transferring your balance to a new credit card with no interest rate. Many of them offer introductory offers like this. You just need to check the fine print and figure out how long it will take you to pay off the balance. Even if it is a 6 month interest free period, that savings can add up to a nice little financial bonus for you. And P.S While the thought of racking up more debt on your card may not really grab you, we would always suggest you pay for your vendors using it. Why? Well in the unfortunate event that one of your vendors goes out of business, payments on credit card can often be reimbursed by the credit card company if the vendor has been trading while insolvent. You do need to check this with your credit card provider. This is especially true for larger investments like your wedding venue. And obviously if you have the luxury of paying your credit card on time with your savings, you’ll avoid any interest payments.
If you have been gifted any money from your engagement or from relatives for your wedding, lock it up in a term deposit or an online (only) savings account. Not only will you earn a slightly higher interest rate, but you’ll avoid the temptation to spend it all on things you don’t really need.
Get on to gumtree, ebay and craigslist.
Most couples we meet are not only getting married, they’re going through other transitional milestones. Buying or selling homes, moving house, getting a new job or completing post graduate studies. Life is a mirror as “they” say, use this time to clean out your old life in readiness to start your married one. Take up the challenge of a rock star spring clean and get rid of all that stuff you don’t need. And a lot of it is just “stuff”. Use gumtree, ebay or craigslist to advertise anything worth a dollar (and believe me, it’s amazing what people are willing to buy!) and free up some cash. Many couples are too quick to dismiss getting a really solid wedding registry when actually plenty of guests prefer to give a gift rather than cash. It’s actually a great time to sell anything that needs upgrading, and starting fresh with everything you need for your new married abode.
This would definitely be one of the easiest ways to make quick cash. There are so many market research companies looking for people to take part in focus groups. In return for your time, you’re given cash or free products (or sometimes both!). Focus groups can run for a couple of hours, and they’ll usually run the groups in areas which suit their target market, making it easy for you to get there after work. Some market researchers pay better than others, so put your feelers out there and ask around your circle of friends for some recommendations, but it’s not unheard of to walk away from a 90 minute session with over a hundred dollars in your pocket!
Be the purchasing manager.
It’s easy to overlook the small details when you sign up for a new service. Many of us stick around with a supplier because it’s either too hard to change to a new one, or because we are loyal customers. But every bill you receive is an opportunity for you to look at it in fine detail and figure out if you’re getting a good deal. There are some great services out there now which makes it easy for you to compare your electricity, gas and health insurance policies to figure out how you can change provider or change your policy to save money. If you can save a $100.00 a month across a few different policies, you’ve just made yourself $1200.00 in one year. Better off in your pocket.
Financing a wedding does put additional pressure on your finances, especially if you’re trying to do other things at the same time, like buying a home. You may not be able to finance an entire wedding using some of these ideas, but at least it will mean you can pay for some of those extra little luxuries that getting married often entails, without feeling the guilt. If you are really committed to getting the best value for money on everything you do, it may be worth booking a one hour wedding consultation to discuss the best strategy and vendors who fit the bill. Contact us today to find out more.