Make planning your wedding easier by setting up some savings early.
There are two ways of understanding how much you’ll save for your wedding day:
- Work out when you’d like to get married and work out how much you can save by then.
- Work out how much your wedding might cost and work out how long it will take you to save this.
Working out a monthly budget could help you save more effectively for your special day.
Making a list of everything you need to spend money on for your wedding is a very good idea. Bear in mind that a lot of costs come before the actual day. Stag and Hen parties, deposits for venues, catering and also the clothes you’ll be wearing will all need to be paid for upfront.
So how do you make the most of your money? We’ll guide you through some of the ways you can maximise your savings.
Get started as soon as you can
The sooner you start to save, the more manageable the costs will be. You could also make more of your money by doing some early planning.
Locking your money away for at least a year will improve how much you’ll make from it and remove the temptation to take it out. You might also be able to make the most of an ISA tax-free allowance – meaning potentially even better returns.
Whatever your savings targets and how you choose to save, look at all of your options before deciding on which options are right for you. Look for fixed rates of interest with a choice of ISAs or bonds. If you’re in any doubt you might want to seek the advice of an Independent Financial Advisor.
Dip in and out
If you're not sure about tucking money away, an Easy Access Savings Account could be what you need. For instance, you might want to pay for things within a year and need to have cash available.
