Polychemy Blog

How to Actually Pay for Your Wedding

Saving up for the wedding isn't an insurmountable task-we promise.

Here's how to save up and pay for your wedding by spending smartly and cutting back a little along the way.

Throughout your life, having a savings account dedicated to something more exciting than a retirement plan, like travel, a wedding or another big event, is a good idea and will help make saving more fun.

Obviously, the amount of time you'll need to save up for a wedding depends on your current income and expenses.

If you can only save $800 a month, but your dream wedding looks like it will cost somewhere in the $50,000 range, you'll be saving for over five years.

For things like cable, Netflix, Amazon Prime, Birchbox and Spotify-anything that debits you on a monthly basis-the time has come to really consider if these are must-haves you truly need, or if you can sacrifice them for a bit in favor of a larger wedding budget-and that fancy cake you have your eye on.

You'll begin to see a little wiggle room for your wedding account in no time.

Trust us, time flies when you're wedding planning.

Looking for any possible way to cut costs or find extra money to help pay for your wedding? There are some more drastic measures you can take as well.

"The expenses from that car could pay for a third of the wedding," Bach says.

If you're in the process of saving up for the wedding while you're making deposits to reserve your venue and other vendors, you're likely going to have to use credit cards.

"People start their lives in these huge financial holes and it's just a shame. It's smart to create a specific wedding account to put money into and then simply reverse the math to come up with your savings plan." Bottom line: Don't spend more than you can afford.

Once you have a plan in place to actually pay for your wedding, start a wedding budget.

Let The Knot wedding planning app keep you on track every step of the way.

What about investing to pay for the wedding? Investing in stocks is more of a long-term process, and probably not the best idea as a way to pay for the wedding.

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