5 realistic ways
to fund your wedding budget

The worst part of having a wedding is paying for it – plain and simple. It’s sertainly no secret that this full-time ‘job’ comes with its own level of stress, overwhelm, and frustration – while taking loads of your money too. As soon as he (or she) pops the question your excitement goes through the roof… then you remember that your now combined families and friends will need an invite.

Some people choose to go to combat with the cost by taking the route of a destination wedding. Why? Well, in many cases hosting a destination wedding can save you a lot of money because 30% of your mass list of family and friends will opt not to attend.

Ultimately chopping off 70% of the people you feel you have to extend an invitation to and reducing the costs that are based per person. I will be talking more on this topic in a later blog post, as for now, I digress.

In this post, I am going to be breaking down the 5 ways I have found work well for funding your wedding budget. These methods are ideal for different people, so as we are going through them, keep an open mind and explore what you are truely capable of accomplishing. This is no time for any “if, and’s or but’s” simply give yourself the opportunity to consider your best fit possibilities. 

Let's get to it!

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set realistic actionable goals on the perfect wedding budget designed exclusively for you!
 
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#1

Savings Accounts

Savings #1
The first thing that comes to mind is how much you have already saved for a rainy day in your personal savings account. Ideally this is where you want to begin your process.

Savings #2
Look into is your life insurance policy. If you have a life insurance policy in place already and have been paying in for a few years, your policy will allow you to make withdraws against your premium.

Savings #3
Have you checked to see what is accessible in your IRA Savings account. Like the life-insurance policy, you are able to withdraw from these accounts.

Keep in mind that if you choose to go with this option, you may also be expected to pay taxes on the total amount you pull from the account. This will happen whenever you access the funds, now or in retirement – if the account is set up this way.

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#2

Upleveling Your Time At Work

Oh that home away from home. If you are not paid by salary or contract, you are most likely paid by the hour. For those who are paid by the hour this will play into your favor, especially if you are working 40 hours a week now.

When my husband and I got married, this was one of two ways we used to help pay for our wedding. By calculating what we needed from the weekly 40 hours for home and living expenses, we knew what we currently had accessible. Anything above that 40 hours was paid time and a half for overtime.

The beauty of kicking into overtime is your boss typically won’t mind if you are knocking out projects and upleveling sales conversions. Adding a half-hour to your morning routine and leaving a half-hour to an hour late adds on up to 7.5 hours per week in overtime. Say you make $18 an hour, that’s $27 per hour in overtime and $202.50 a week in added income for your budget.

#3

Family & Tax Returns

Family Contributions
If family members hear of your engagement and offer to help pay for pieces of your wedding that’s great! On that note, I do feel the need to also communicate that you should be careful of asking for a contribution. While many parents are still happier than ever to help out, most will do so in a way that they come to you and the cost will not be an issue for them to float.

IRS Tax Returns
Consider when you are getting married, when you will need to pay for your vendors and factor in your yearly average return on your taxes. We pay the IRS so much during the year, many will see a tax return to some level. This may be the perfect add on for your wedding budget or to get you started.

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#4

Work From Home On The Side

Working from home doesn’t have to come with a sleazy scammy name, that just comes from people who neglect the title. Actually putting yourself into the place of working from home can look like many things for you and your wedding budget.

Working from home will allow you to work your day job then come home and spend a few hours working on something you really enjoy. When you couple this home work-life into your already consistent daily routine, the end results can pay off in dividends during tax time and income made.

When you couple this home work-life into your already consistent daily routine, the end results can pay off in dividends during tax time and income made. I talk all about this inside of The Bride School membership… doing this, you get to decide when and where you will be focused on building your budget without limiting yourself to someone else’s discretion.

Just a reminder, you may want your cheat sheet to help you to better understand the process.

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Download today’s freebie below so you can get crystal clear on what it is you want, learn how to
set realistic actionable goals on the perfect wedding budget designed exclusively for you!
 
Are you ready to step out of the brain fog & into clarity & confidence?

This also allows you to use a portion of your small-business generated wedding budget as a IRS tax write off. In other words, say you made $6,000 in sales for your business then you consider that room you made into an office, that space becomes a tax write off for utilities & rent.

The drive time, you get to decide where and when you are working, can you turn a trip to a venue or vendor meeting into a business trip? Yes, take an hand out a business card or resource. Write off the mileage at $0.56 per mile on taxes. Phone, Internet, and many more. I show you how to get started with your own income generating side-gig inside of The Bride School.

Be sure to grab the freebie for today where I break down a step-by-step example of how incorporating a small-business side gig into your wedding budget can help save you thousands. No, not being dramatic, just being honest… this is #3 in how we saved $10,000 on our wedding without cutting out things we wanted.

Our second method of financing our wedding was through leveraging a credit card that offered points in exchange for the dollars spent. I elected to go with the SpeedWay Mastercard because I had been a long-time speedyrewards user and had read about people leveraging the points in a serious way.

This points card rewards every dollar you spend with a number of points. After reaching a specific point amount, I would walk into a Speedway location and walk out with a few $100 on a Visa Gift card for free. For us, this looked like $100 per month for 12 months, we used the card for our daily costs of living and entertainment and used the rest in the wedding budget.

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While this is the card we use, you can also use others like Visa or Mastercard provided by another lender. The key here is to first decide how you will use the card, how you will repay the balance, the benefits you get in return, and how quickly you can access the redeemed rewards.

If you elect to use a credit card, make sure that you are very diligent with your decision and consider all of your possible options before moving forward.

At the end of the day the right choice for you will depend on the amount of time you are willing to prioritize into your weeks for budget building. Also, it is important to understand that this is no small undertaking.

Before selecting one or many, talk it over between the both of you, especially if your ideal wedding budget falls in the 5 to 6 figure margin. The right decision will feel right, fit into a manageable schedule and still allow you to have plenty of home and down time.

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the bride school

Fed up with the stress of planning with absolutely no constructive help from anyone else? The internet is a busy place full of out of context tips & tricks & easy street strategies come with hiring a $5,000+ full service wedding planner!

Introducing The Bride School Membership. Designed to meet you where you are, teach you everything you need for success & coach you through it step-by-step! This powerhouse program, is for bride’s ready to make a difference in their wedding experience & have a lasting impact on their guests.

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