In a time when the average couple in Ireland spends €25,000 on their wedding, this article is going to provide some tips on how you can boost your savings in the months and years leading up to the big day.
We’re all about making as many savings as possible and regularly write about money-saving ideas here on the blog, however, unfortunately there are still certain things that have to be paid for no matter how frugal or DIY savvy we are. It is with this in mind that we have compiled a list of ways to boost your savings, hopefully leaving you with a bit extra left over to enjoy a romantic honeymoon after the big event.
Leave the Lattes – Saving of €1,560 a year
If like me, you’re quite partial to a coffee most days from the local barista or regularly head in to Starbucks on your way home from work, you could be costing yourself up to €30 a week! Over the space of a year this adds up to the considerable sum of €1,560… hard to believe right? Knock the coffee on the head and treat yourself to some roasted coffee you can make at home when you feel the need for that all-important caffeine hit.
Kick the Habit – Minimum saving of €3,590 a year
For those of you who smoke, don’t worry this isn’t going to be a lecture on why you should give up, you already know that too well. Let’s let the maths do the talking. The average full-time smoker will buy at minimum 6 packs of cigarettes a week, by todays prices that’s a staggering €70 a week, giving you a total of €3,590 a year. Just think what a difference that will make to your budget!
Take-away the urge – Saving of €800 + a year
Let’s assume you and your other half maybe get a take-away once every two weeks (that’s a fairly reserved assumption). At a spend of approximately €30 for each order, you could be looking at savings that total over €800 a year.
Stay in and count your money – Saving of €3,00 per person per year – Total €6,000
Whilst we all need to get out and socialise after a busy week at work, an individual who likes to go out once a week for a ‘few’ drinks can save upwards of €3,000 per year. By cutting down on the social outings as a couple for a few months or just reducing the amount of times you go out you could be adding a whopping total of €6,000 to your wedding day fund. Don’t go too crazy though, we all need to let loose once in a while and staying in indefinitely will have you going a little bit crazy!
Other cutbacks you and your partner can make in the lead-up to your big day, which should produce some significant savings:
• Cut down on unnecessary shopping trips
• Sell some of your unwanted goods or clothes on eBay
• Good at crafting? Set up an Etsy account and watch the money roll in!
• Shop for unbranded groceries
• Switch your banking to an account with less fees and higher interest rates
• Switch utility accounts such as gas and electric for more competitive prices
• Have an attic full of old books – sell these on Amazon
• Become a trader at your local car boot sale
• Have a spare room? Why not take in a lodger?
If you have any ideas to boost your savings in the lead up to your big day we would absolutely love to hear from you.
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More wedding news soon