How to Save Money for Your Wedding by The Budget Savvy Bride

Here at B$B, we help find efficient and effective ways to save you money on your big day. But another thing we love is teaching our couples how to save money for their wedding day! So many couples are strapped between their monthly bills, student loan payments, job losses, and more. It can be difficult to figure out how you can save the money you need to pay for your wedding.

If there’s one thing we’re SUPER passionate about, it’s helping couples plan a wedding they are happy with on a budget they can actually afford. We’re BIG proponents of having a #debtfreewedding. One of the best ways to plan a wedding without taking on debt is to be intentional about saving.

Let’s talk money.

I mean, that’s why you’re here, isn’t it? To find out how to save money, spend it wisely, and stretch your dollars when possible. These days, the parents of the bride don’t always pay the tab for the wedding day. Many of you are probably covering some of the cost of your weddings with the help of your fiancé.

Wedding Budget Questions

How much can you afford to spend? First thing’s first– you’ll need to set your wedding budget. How much should you save each month? What’s the best way to pay for our wedding expenses? Is there a special account we should use to house our wedding funds?

We share lots of ideas and tips to help you save money *on* your wedding, but the focus of this post is to help you save money *for* your wedding. Below you’ll find tips and advice on how to make a plan to save money for your wedding with the help of a special savings account.

💰 The Easiest Way to Save Money for Your Wedding

The easiest and most affordable way to save money for your wedding, honeymoon, or any other financial goal you have in mind is by using an automatic savings account like the ones available from Capital One 360.

PS, Opening a new account can even come with a welcome bonus, so check the current offer details here.

Save Money For Your Wedding with Capital One 360’s Automatic Savings Plans

One of our favorite things about Capital One 360 is their AutoSave feature set, which makes growing your wedding fund almost effortless. You can set up savings rules right inside their top-rated mobile app, pick how much and how often you want to save, and watch your money grow while you focus on every other detail of your wedding to-do list. Capital One 360 gives you three different AutoSave tools to choose from:

• Autopilot: Makes small daily transfers (a few cents up to $15) from your checking into your savings, based on your recent checking activity. A slow-and-steady option that builds up your fund without you really feeling it.

• Recurring transfers: Schedule regular transfers (weekly, biweekly, monthly, quarterly, semi-annually, or annually) from your Capital One or external checking account into your Capital One 360 savings. A great pick for couples with a firm monthly savings goal.

• Paycheck percentage: Automatically move a set percentage of every direct-deposited paycheck into savings. Helpful if your income varies from month to month.

Because you can bank from your phone 24/7, you can tweak your AutoSave rules any time inspiration (or a wedding splurge temptation) strikes.

Read about other ways to automate your wedding

These plans make the act of saving practically effortless. Since you never have to think about the act of moving the money ourselves, you really never miss it… it’s like it was never really in your personal accounts! Thanks to the automatic savings plans that Capital One 360 offers, saving money for your wedding (or anything else for that matter) has never been easier!

Another great thing about Capital One 360 is their competitive interest rates, which are typically higher than you’d find at a traditional brick-and-mortar bank. So your money works harder for you just by sitting in your savings account.

If you and your fiancé are having to pay for some or all of your wedding expenses yourself (or any other big life event or purchase) we highly recommend signing up for a Capital One 360 Savings Account! It makes saving simple and painless.

Open a Capital One 360 account today and start saving up!

$25 New Account Bonus!!

Open a new Capital One 360 account and you could earn a welcome bonus once you meet the qualifying deposit requirements. Check the current offer details here and see exactly how much you could earn. Free money is free money!

Learn More

Why I love Capital One 360:

We never, ever recommend products, services, or companies that we haven’t personally reviewed. B$B founder Jessica Bishop has been a customer of Capital One 360 since 2007 and has used their savings accounts for all kinds of goals: saving for her wedding, a downpayment on a house, vacations, her big move to NYC, and plenty more. She personally uses and recommends this bank because she’s had an excellent experience with it and it has made saving for the things that matter feel effortless.

From Jessica: “I’ve got 7 different Capital One 360 Savings Accounts so I can keep my savings for different things organized. I have one for vacations, general travel, an emergency fund, savings for gifts, and savings for medical. I’ve set up various automatic savings plans to deposit different amounts into each of these accounts once per month. It really makes budgeting a breeze! I seriously couldn’t recommend it more.”

MUST READS:

Ways to Reduce Your Monthly Expenses to Save for Your Wedding
Save $100 per month on your Cell Phone Bill with Tello

💰 Advice for Saving Money to Pay for Your Wedding

Check out these awesome savings tips to help you to reach all your wedding savings goals:

Pay Yourself First.

Financial experts emphasize the importance of paying yourself first. Having an emergency fund in place is so important for when unexpected expenses pop up in life. Being prepared for financial surprises ensures they don’t derail your financial health completely.

Use your Capital One 360 account and sub-savings accounts to set, save, and track all of your monetary goals. This will help you to stop overspending and pay yourself first. Research shows that setting your accounts up in this way helps develop the habit of saving 10% or more of your income towards goals you care about.

Make Saving Money Fun.

Creating your sub-savings accounts can look however you like! Name your sub-savings accounts after different goals or wishes.

You can have as many goals/accounts as you like, so you can customize your savings plan to put your money towards goals you care about. Set goals for things as general as your wedding fund to as specific as that pair of Louboutins you’ve been dreaming about forever.

Automate Your Savings.

With Capital One 360, you can easily set and automate your savings so you don’t even have to think about it. When that money is out of your checking account, it’s much more difficult for you to spend it! The automatic drafts help ensure that you’re putting your saving goals FIRST, allowing you to save up for the things you really want, like that dream wedding dress or an amazeballs honeymoon in Bali. You can edit and update your savings goals at any time. It works with you and for you to help you reach your savings goals so you can live the life you want!

Make the Most of Your Savings.

Capital One 360 is fabulous because there are no monthly fees to worry about, and their savings rates are typically well above the national average, so your money works harder for you without you having to lift a finger. Plus, transfers back to your bank are totally free whenever you are ready to pull out your funds and pay for your goals.

Disclosure: I have not been paid to write or share this post; these are my own opinions that I am voluntarily sharing. The links contained in this post are affiliate links, meaning if you decide to try out Capital One 360 for yourself, I will receive a bonus for your referral. It’s a nice bonus for me, but I would recommend this bank and their Savings Account to you regardless of if I got this bonus or not, because it has helped me THAT much and I think it will help you, too!

Happy Saving!! xo