Thursday, October 1, 2009

Create a Wedding Savings Account


Trying to figure out where to squeeze extra money out of your already tight finances to pay for your wedding can be tough. One easy way to save little by little is to setup a savings account and a direct deposit from your paycheck on every payday. The percentage you choose to save is up to you, but whatever the percentage, have it directly deposited from your checking account (where you deposit your check) into your wedding savings account automatically.

Let's say you save 10% from each paycheck. If you get paid $1,000 per week, this is $100. If you save for your wedding over a six-month period using this method, then you'll have saved $2,400 in no time. If both you and your groom do this, you'll save double the amount. Obviously, the more you can save the faster it will accumulate. If you have a full year or more to save for your wedding, your savings can add up to almost $10,000 using this calculation with both of you saving. This is quite a chunk of money to apply toward your wedding.

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