The wedding is one of the most expensive events in life. And while you might be excited to prepare for the big day, saving up money for a dress that will make everyone else green with envy can seem like an uphill battle. With a few smart tips, you can save up money for the wedding dress of your dreams without having to ask your parents or break the bank.
1. Set Up an Automatic Transfer
One of the easiest ways to save up money for your wedding dress is by setting up an automatic transfer from your bank account to a savings account that you do not frequently use. This way, you are less likely to spend the money without realizing it. To set up a regular transfer, make sure to have ready the following:
The name of your bank branch and its address. Again, you can find these details on your ATM or point-of-sale card on the Internet or by calling them.
2. Scale Back Your Spending
You’re already tracking your spending, at least to some degree. For example, if you’re not eating out for lunch every day, chances are you’re not going out for dinner every night, either.
The point is that the less you spend on unnecessary things, the more you can save up money for a wedding dress.
And guess what? Identifying and cutting down on unnecessary spending can go a long way in keeping bills under control.
3. Cut Your Food Bill
Where is most of your money going? To your food bill? If so, you’re not alone. Most people spend an average of 20% of their income on food. However, that doesn’t mean you have to spend as much.
Similar to identifying unnecessary spending, cutting your food budget can help you save up money for a wedding dress. It is especially true if you and your partner are going out for lunch or dinner every day.
Think about what you could live without and start cutting down your meals to save up money for a lovely wedding dress.
4. Cancel Unnecessary Subscriptions
That’s right: you probably pay for too many subscriptions that you don’t need.
For example, if you just signed up for a gym membership and haven’t been to the gym more than twice in the last month, you’re spending too much money on your gym membership.
You probably have a long list of subscriptions: gym memberships, Netflix accounts, or magazine subscriptions that aren’t necessary on your bank account. The trick here is to cancel any unnecessary subscriptions and save up money for a wedding dress.
5. Set Savings Goals
Setting savings goals can help you save up money for a wedding dress. For example, you can save $40 a week for two weeks, put that into a savings account, and then move on to another goal.
This way, you don’t have to worry about saving significant amounts of money at one time. Instead, saving little by little is more manageable and less stressful than saving up massive amounts of money all at once.