Saving for a Wedding South Africa - Quick Consolidation Loans

Saving for a Wedding

Something borrowed, something blue is all too true if you have to fork out hundreds of rands in interest for a wedding paid for on credit cards. So why not save up for the wedding, as it cuts costs, stress and the fighting before the wedding.

There is no need to spend tons of money on a wedding when the most important thing is to make it personal. Whether your budget is R10 000 or R100 000

Work out the cost of your wedding and set a budget:

Whether you opt for a wedding package or put together your own special day, the costs of a wedding can add up. Set a budget and stick to it so that costs don’t spiral out of control. Make a list of everything you need to spend money on and shop around for the best deal.

Work out how much to save each month:

Once you have set a budget and worked out the cost of your wedding, then start putting money aside each month to meet this target. Figure out how long it will take if you have a monthly sum in mind. Most importantly, you need to be realistic about what you can achieve and how much you can afford.

Get Started:

The sooner you start to save, the more manageable the cost will be. Decide where to stash your savings (ideally in a savings account at the bank). Open a straightforward instant access savings account or if you have an online bank account that lets you set up a separate pot for the wedding.

Limit the guest list:

Keep the guest list as concise as possible which will drastically reduce reception costs. Most caterers, restaurants and banquet halls charge per-person so the difference between 100 guests and 150 will be significant.

Cuisine Costs:

Food and wine can be the biggest expense at a wedding, so research your options. You may want to consider a buffer instead of a sit-down meal; or host a high tea; a dessert reception; brunch or luncheon instead of a multicourse meal.

Location, Location, Location:

The world is your oyster, there are many options for low-cost or no-cost location, including local parks, forest preserves, your own back yard or that of a friend or relative. Or make it easy on yourself and find an all-inclusive package in which the wedding, reception and even the honeymoon are included in the deal.

Watch your savings grow:

Review your savings account at least once a year to check if you are getting the best rate of interest. Make sure it is not taxable.