(Closed) What do you think of this “plan?”

posted 8 years ago in Money
Post # 3
Member
1011 posts
Bumble bee

That’s a good plan, but since you’re anticipating an increase in income (or at least yours will vary), maybe you should do a percentage of income instead.

Post # 4
Member
11327 posts
Sugar Beekeeper
  • Wedding: February 2011

So 2 years @ $100/month = about $2,500 total? (Unless I misunderstand?)

What I’ve learned from reading WB is that anything is possible, but you do have to make hard choices. On a $2,500 budget, you will not be renting a venue or getting a catered meal probably. You could do a really beautiful bbq or cook out or pot luck in the park or a friend’s back yard. Spend your money on an inexpensive dress and on crafty DIY touches. It is possible, but you’re going to have to be very thrifty and creative πŸ™‚

Post # 6
Member
2695 posts
Sugar bee
  • Wedding: April 2010

Firemanslady-  I think any head start you can get the better off you will be when the wedding gets near. 

Since your FI is a fireman have you looked into the Firemans’ center in Houston? I see you are from Texas.  My cousin is getting married at the Fireman’s center in Houston. It is free to fireman to rent.  I think they had to put a small deposit down to reserve the date but I think they get that money back.  You might want to look into somehting like that in your area!

Post # 8
Hostess
16217 posts
Honey Beekeeper

Don’t forget…you work your wedding into a budget, and you can make it happen with pretty much any amount.

I had friends who did the entire wedding for about $3,000. Sure, it was a little bare bones, but it was lovely and special and it doesn’t make their marriage any less wonderful.

Your wedding is about you and your guy and the love you share. As long as you have that, it will wonderful.

Post # 9
Hostess
16217 posts
Honey Beekeeper

We just booked our reception venue, and the deposit was 10% of the total cost. So your deposit amount will depend on the price of the places, etc. But I think a few thousand in savings is definitely a good starting point. One thing to keep in mind is that you usually need those deposits to secure your date, so you would need some of the money sooner rather than later.

Post # 10
Member
4385 posts
Honey bee
  • Wedding: May 2011

i think it’s a great idea, and it’s basically what we’re doing. we both work well paying full time jobs, we’re stashing away $100 each per paycheque into a wedding fund and watching it grow with fairly little effort. it’s one of the perks of a long engagement!!!

Post # 11
Member
246 posts
Helper bee

I believe that you can do anything on a budget if you put your mind to it.  My only question is why you are sticking with cash?  Since you are looking at a 2 year timeline, your money could be earning interest!  Maybe not much but every dollar counts when you’re on a budget, right?  Also, if you and your FI have direct deposit, you can often arrange for a certain amount of your paycheck, like $25, to be automatically deposited into a second account (i.e. savings account).  This would help you be disciplined in your saving – since you will never see the money, it may be less tempting to spend it.  Just an idea…

Post # 12
Member
1064 posts
Bumble bee
  • Wedding: October 2009

I’m a little unclear. The amount your saving would be $2,500. Than you said that wasn’t your budget. I don’t really understand what your budget is then. Wouldn’t the amount you save be your budget? Otherwise what money will you use?

Post # 13
Bee
13714 posts
Honey Beekeeper
  • Wedding: September 2009 - Barr Mansion

I think it’s a good plan.  In addition, you can do other things to save extra money, like starting a change jar and putting all of the proceeds toward the wedding, and using your tax refunds towards the wedding.  Good luck!

Post # 14
Member
62 posts
Worker bee
  • Wedding: August 2010

….

why would you keep your $$ in a safe?

open up a savings account at least that way you get some $$ for interest.

Post # 15
Hostess
16217 posts
Honey Beekeeper

@OttawaBride; I agree with what you said about the long engagement! More time to $ave! πŸ™‚

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