Want to reduce your monthly expenses so you can save more money to pay for your wedding day?
When you're saving up for a wedding, every penny counts. That's why we recommend going over the monthly personal expenses for both you and your partner while you're calculating your wedding budget!
You want to identify any areas where you may currently be overspending or at least areas where you could cut back. When you reduce your monthly expenses, you'll be able to save more to put into the wedding fund!
Think of it as a trade-off… fewer trips to the movie theater and more nights at home with Netflix. Fewer meals dining out in favor of a free trial of a new meal-delivery service. You can take that extra $10, $20, or $50 per month and put that towards the items you deem splurge-worthy for your big day!
How to Reduce Your Monthly Expenses
If you're looking for ideas on where to cut back on spending, don't miss these five ways to reduce your personal expenses to help save money for your wedding! We hope you find these ideas helpful in reducing your spending!
1. Cut Down on Eating Out
I love going to restaurants and eating out, but it can definitely be expensive. Try cutting back on the number of times per month that you eat out in order to reduce your expenses. If you do decide to visit your favorite restaurants, be sure to check local deal sites like Groupon or Living Social to get your meals for less when you want a special treat. Both sites have apps that you can download right to your smartphone so you can book AND save on the go!
2. Have More At-Home Date Nights
Netflix and Amazon Prime are two amazing streaming networks that have thousands of shows and movies for you to watch at your convenience. Binge watch your favorite shows with your fiance from the comfort of home for a low monthly fee, rather than going out to the movies. Whip up a home-cooked dinner, make some cocktails at home, and snuggle up for some TV time together and decompress. You could even play games like Trivia Crack or Quiz Up and compete against each other for a little friendly competition! It'll give you something fun to do together that isn't related to the wedding… loser has to do the dishes. 😉 See, you can still have fun while also reducing your spending!
3. Cut out expensive gym memberships
Instead of using a standard gym membership that can cost you $100s or even thousands a year, opt for an at-home workout that you can stream on YouTube or Amazon Prime. Amazon has a bunch of the Jillian Michael's workouts available included in the cost of your prime membership and those things will kick your booty into shape, trust me! Any sort of bodyweight exercises are great because you won't need any fancy equipment to participate! The best part is that you can use apps on your smartphone or tablet to do these workouts wherever you go — so you won't have to miss a workout if you're traveling.
4. Test out different services with free trial offers
Most streaming services come with free trial offers if you're not yet a member. Some worth checking out are: Netflix for watching movies; Amazon Prime for free streaming entertainment AND free shipping on thousands upon thousands of products you may buy on Amazon.com; NextIssue which gives you access to dozens of your favorite magazines on your mobile device or tablet for free; and Audible which puts bestselling books right into your earholes for an easy and convenient way to “read” books!
Please note: with all of these free trial offers you usually get 30 days of service for free, and if you decide to continue beyond that trial period you'll have to pay a monthly service fee. Check out each individual offer for details.
5. Switch Wireless Providers or Create a Family Plan with Your Fiance
When you get engaged, you'll have to decide whether to keep your bills and money separate or marry them together. One major bill that most folks have to deal with is their cell phone bill. You and your partner may decide to reduce your monthly expenses by combining your wireless accounts. Going from solo plans to creating a family plan for the two of you with shared data and minutes could save you a bundle!
6. Try out savings apps to earn cash back on everyday purchases.
Another way to reduce your monthly expenses is to utilize coupons and discounts whenever possible. Ditch the coupon clipping routine and get cash back the fun and easy way. How? With the help of savings apps for your smartphone! The Ibotta app has exclusive offers at your favorite grocery stores, retailers and shops and you can even earn rewards *after* you shop by snapping a pic of your receipt. Download Ibotta today to start putting away extra cash to pay for your big day!
Learn more: Use iBotta to save money on everything you buy
What to do with all the money you've saved
Take the monies you've saved by cutting back on your expenses and have them auto draft into a bank account. We've talked before about how much we love Capital One 360 for setting up automatic savings plans — it's a great way to set it and forget it so you're sure to stash away some cash each month.