(Closed) How long did it take for you?

posted 6 years ago in Money
Post # 3
525 posts
Busy bee
  • Wedding: April 2014

I have a very thorough savings plan laid out. It will take us about 1 1/2 years to save up $16,000 just by putting aside a little from each paycheck.  I did not include anything we might possibly get back from taxes in that equation.  I would reccomend that you wait until you both have full time jobs and know how much you are making to figure out how much you can save comfortably.

Post # 4
3771 posts
Honey bee
  • Wedding: August 2013 - Brookfield Zoo

Do you and your SO have jobs or jobs lined up for right after college? I would recommend trying to form some kind of list of expenses you expect to incur throughout the year and stack tht up against how much you can save per paycheck. Depending on what kind of income you’re both going to have, a year should be alright for $10-20k, provided you aren’t planning to buy a house or a car or anything like that as well. 

Post # 6
2183 posts
Buzzing bee
  • Wedding: November 2011 - Florida Aquarium

We were able to do it in a year. It was tough, though. We were just starting out, and Darling Husband only had a part time job. I was working full time, but we live in a really pricey area. I didn’t know how it would work, but Darling Husband kept assuring me. And he was right… our situation just got better and better, and everything is paid off.

Take a look at your expected income and create 2 or 3 “what if” budgets to ensure that you can save up what you need in that year. …also, I’d take a look at venues online and get a general idea about price. That’s likely the largest portion of your budget and your first deposit. That way you can figure out your wedding budget, too.

Post # 8
125 posts
Blushing bee
  • Wedding: June 2013

We’re going to be able to save our 20K in a year. However, my parents inherited a house and they’re allowing us to live here without rent until after the wedding. We have been upgrading the house and putting in new floors, ceiling fans etc. I’m not sure we would be able to have our wedding in Scotland had it not be for this generous opportunity they’ve given us.

I would suggest looking into an ING savings account. My fiance and I have a joint savings account with ING and we each contribute to the fund. I also have ING for my Christmas fund, emergency car fund..etc. It allows me to put little bits at a time into multiple accounts and the money adds up fast.

Post # 9
14347 posts
Honey Beekeeper
  • Wedding: June 2011

This is going to vary greatly from one person to another.  The only way you can know this is to know how much you’re making, and how much your basics are.  We already had money for the wedding, but if we had to save it, it would have taken a little less than a year.

Post # 11
1030 posts
Bumble bee

Yep – you’ll only be able to figure it out once you have jobs. When I first left university, I could barely afford to feed myself, let alone save.

My best bet would be to think about exactly how much you want to save (the difference between 10 and 20k is huge!) and then work out how much you would need to put aside each month to achieve that.

I earn £24k a year, put aside £600 a month, and in a year I can save £7,200. My SO can save only half this (he’s on £18k)- that gives us a total of £10,800. It’s a lot – but not a huge amount (our wedding will cost around £17k I think). But believe me, it’s HARD. living on £50 of personal spending money a month is very tough. Worth it – but tough.

Post # 12
12905 posts
Honey Beekeeper
  • Wedding: November 1999

It really depends on your own situation.  Fiance and I both have good jobs and had been saving for a while (I have a savings account for the “Next Big Thing” – wedding, house, big vacation, etc, so money kept going in there).  My parents also volunteered a sizeable contribution to the wedding, which helped our budget a lot.  So for me, there wasn’t too much saving needed, but for others, I could see it taking much longer.

Post # 13
1115 posts
Bumble bee
  • Wedding: November 2013

Fiance and I figure it will take us about a year to save up. One thing to keep in mind is the majority of your payments won’t be due until just before your wedding (like in the week or so before) so you can consider your engagement up until your wedding as time to save up too.

Post # 14
1934 posts
Buzzing bee
  • Wedding: August 2012

Depends on lots of things!  It took my Fiance and I 18 months to save up for our over $60k wedding.  We already own our house, so we aren’t saving up for anything else big, but if we WERE, it would have taken a lot longer (or a much smaller wedding)

Post # 15
1064 posts
Bumble bee
  • Wedding: June 2012

Well, we decided to get married last August/September and we did it on June 10th, so 9 months..each paid for somethings. For example, he paid for the honeymoon flights and i the accomodation and rent-a-car. He bought the rings and i arranged for the invitations, decorations, our girl’s wardrobe..as for me, i cut immediatly on a few expenses, like gym and sending clothes to iron and saved around 300€ each month. I paid things as they came, little by little

Post # 16
1902 posts
Buzzing bee
  • Wedding: July 2012

It really depends on your job and your costs of living. When I first finished uni, I was earning bugger all but, on the plus side, I was living with my brother virtually rent free, so was able to put aside about $100 a week (which left me about $150 for groceries, petrol, bills, etc.). When I got a better job, I was able to put aside $100-200 per week. That was in mid-2009, and I’m now a little over $20,000. It helped that my fiance has always been very conscientious with money (he’s been saving since he was 14 years old!!), and has always had a very healthy bank balance.

As long as you’re careful with your money and budget right, you can do it. If you force yourself to put aside a certain amount, you will definitely save money. At first, it seems weird to only have x amount to spend each week, but once you get the hang of it, you start to get addicted to having money to spare. Strange as it sounds, I love seeing the balance go up every month and know that I’m not going to have the same stresses with paying for a wedding or house as most of my friends.

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