So E and I have come to the conclusion that in order to save for the Big Day we’d both be happy with, we need to make some changes in regards to our finances.
We both have student loan debt. We both have credit cards. We’re working to pay these down, of course. I usually pay double on my student loans every month and I throw a big chunk of change at my credit card bill monthly as well. (Which wouldn’t be as high as it is except I have been wanting a digital SLR for so long that I finally just broke down and bought one… and then a fancy lens… so yeah, it’s kinda high right now…) But even with these bills as well as my rent, utilities, cell phone, etc- I still have a good bit of money left over. Normally, this “extra” money was my play money- to be spent on clothes, eating out, etc. But now I am saving this play money to go towards what E and I have dubbed “the wedding fund.”
I set up a direct debit savings account online at ING– it was so easy and now it deducts a set amount of money from my paychecks and deposits it in my savings. The best part is, ING offers a higher interest rate than most other savings accounts, because the bank is online. I’ve been using them since the first of the year and I’ve already made over $40 in interest! And, for every person you recommend to sign up that opens an account, that person gets a free $25, and you get $10! You can recommend up to 50 people- so that means you can make up to $500 of FREE MONEY, people. It’s super easy and you ALL should do it. 🙂
E is a catering manager at a local deli, and although he oversees most of the catering orders, sometimes he has to do some deliveries if they are short-staffed or have multiple orders (which has been happening pretty often- they’re getting busy!) So lucky him- in addition to his salary pay, he sometimes makes tips. And I’m talking GOOD tips. Think about it $500 catering order- gratuity at 15% would be $75 bucks! So any cash tips he’s been making he’s been putting into the “wedding fund.”
Last but not least, the biggest way we’re going to save money is that we’ve decided to move in together. *GASP!* In the south, this isn’t always looked highly upon- but because of our current situation, it doesn’t really make sense to continue to live apart. For the last year since I’ve had my own apartment by myself, E has stayed over more often than not. My apt is almost 30 minutes closer to his work place, and sometimes he has to be there at 4:30 AM for breakfast catering- that 30 minutes makes a huge difference on his sleep time! Not to mention with gas prices, he’s saving a bundle by being so much closer! So we have decided to cohabit for real. This decision alone will put another $400 a month into the wedding fund- well worth it if you ask me!!
So, that’s pretty much how we’re handling things at the moment. I’ve thought about maybe picking up a weekend or night job waiting tables once we have some more planning under our belt. Anyone have any other tips on how to save for the big day?