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 – lots of you gals are probably covering some of the cost of your weddings with the help of your fiancé.
Here at The Budget Savvy Bride, you'll find 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. I wanted to share some tips and advice on how to make a plan to save money for your wedding with the help of a special savings account.
When my husband and I were planning our own budget wedding back in 2008-2009, we knew we had to be disciplined with saving money every month. Thank goodness I was already familiar with Capital One 360 (formerly INGDirect) – I had opened my account soon after I graduated from college as a way to make sure I was saving on a regular basis.
Save Money For Your Wedding
with Capital One 360's
Automatic Savings Plans
One of my favorite tools they have available at Capital One 360 is their automatic savings plan. It basically automates your saving for you so you don't even have to think about it. You can customize your automatic savings plan for a chosen amount and at whatever interval you choose. I decided to set mine so that twice a month, after my paycheck had been direct-deposited, an auto-draft would pull a set amount from my personal checking into my Savings account. Then once my husband and I got engaged, we linked his checking account as well so we were both contributing to a joint savings account for the wedding.
These plans made the act of saving practically effortless. Since we never have to think about the act of moving the money ourselves, we really never miss it… it's like it was never really in our 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 they have a higher-than-typical interest rate of .75% APY, so you'll make more in interest than with a traditional bank's savings account. Another of my favorite features is their MySavingsGoals! You can set up a savings goal for yourself very easily, and it visually helps you track how close you are to reaching your goal!
Here's how it works, view a sample goal below:
- Set a total dollar amount you want to save up or reach for. In this case I set $10,000.
- Choose the date you want to reach the goal by I set a one year goal, Jan 1 – Dec 31
- Then Capital One 360 calculates the savings payments you will need to make on a weekly, bi-weekly, or monthly basis. Based on the $10,000 in a savings account starting with $500, we would have to save $791.67 per month to reach our goal in a year.
- Then you can move directly from there to set up your automatic savings plan to auto-draft your savings payment into your account. EASY AS THAT!
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) I highly recommend signing up for an Capital One 360 Savings Account! It makes saving simple and painless.
Visit Capital One 360 to open an account today and start saving up!!
$25 New Account Bonus!!
Open a new Capital One 360 Account with a starting balance of at least $250 and you'll get a $25 BONUS deposited into your new account. Can you say FREE MONEY?
Why I love Capital One 360:
I never, ever recommend products, services or companies that I haven't personally reviewed. I have been a customer/account holder of Capital One 360 / ING direct since 2007, and have used my Savings Account for a number of different needs including: saving for our wedding, saving for our downpayment on a house, saving for vacations, saving for our big move to NYC, etc. I personally use and recommend this bank because I've had an excellent experience with them and it's made saving for various things in my life so easy.
My husband and I personally have 7 different Capital One 360 Savings Accounts so we can keep our savings for different things organized. We have one for vacations, general travel, an emergency fund, a savings for our town house, savings for gifts, savings for our car, and a savings for medical. We use 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.
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 company 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!