Saving up for your wedding cuts the cost and the stress. Here are easy steps that can help you save towards your big day easily.
Step 1 – Work out the cost of your wedding and set a budget
Set a budget and stick to it so that your expenses don’t get out of control. You need to be precise with your wedding budget. For example: “ I want to have a N1,000,000 wedding….My cake should cost around N50k-60k” and so on. Make a list of everything you need to spend money on as a couple and shop around for the best deal. However, make sure to ask around first and get a fair idea of what a realistic budget for you should be, so, you don’t find yourself in a fix.
Step 2 – Work out how much to save each month and start early
Once you’ve set your wedding budget and worked out the cost of each item, work out how much you’ll need to save to meet this target or how long it will take if you have a monthly sum in mind. You need to be real about what you can achieve and how much you can afford every month.
For example, if you both plan to have N1,000,000 wedding in one year’s time, each of you would need to save around N42,000 a month. However, if you start saving two years before the wedding, you’d only need to save N21,000 individually each month.
Step 3 – Get started
The sooner you start to save, the more manageable the cost will be. Decide where to stash your savings and create a separate account for the wedding or other goals. Make sure its an account where your savings grows.