8 Ways for a Newly Engaged Couple to Save Money

The following is a guest post.

One of the first things you realize when you become is engaged is that it can be quite expensive to plan a wedding. You want to save money where you can, and that means some careful planning. The good news is there are plenty of ways that a newly engaged couple can save money.

Here are eight things you can do to save money for and on the wedding:

1. Combine Expenses

Go through your expenses together, and decide what can be combined. This doesn’t mean that you have to combine bank accounts, but it is good practice for when you have to share expenses. If you can find a way to combine some of your expenses, such as phone service, netflix accounts, or insurance, you can save money. Family plans, offered by cell phone companies, tend to save customers lots of money through an umbrella account. Instead of paying for one person to have unlimited text, it’s two for one.

2. Make Dinner Together

Even if you aren’t living together yet, you can still make dinner together. This saves money, since going out to eat consistently can add up quickly, and it is a fun thing to accomplish as a team. Plan some meals, and then cook together. It can be much more enjoyable than going out.

3. Look for an “Alternative” Ring

There is no reason to get diamonds, just because it’s the traditional option. My sister-in-law has a sapphire engagement/wedding ring, and my ring has emeralds in the band, rather than diamonds. You can get a piece of jewelry that makes a unique statement when you consider pearl, topaz, emerald, sapphire, and ruby rings, instead of diamonds.

4. Go Out During the Afternoon

If you still like to go out on occasion, go during the afternoon. Matinée movies are cheaper than evening movies. Lunch at a restaurant costs less than dinner. Another bonus: You often see fewer crowds at lunch and a matinee.

5. Create “Green” Wedding Invitations

More and more people are sending email invitations to their weddings, and setting up RSVP websites. This is a great way to save money, and, better yet, you can position it as a green decision. You save money on printing, and you save the earth.

6. Wedding on a Weekday

The most important people in your lives will take time off work to come see you married. For the others…well, a smaller wedding means smaller costs. A week-day wedding usually means lower prices at the venue, as well as lower hotel rates and less concern about booking conflicts.

7. Wedding Contributions as Gifts

My mother’s friend did our wedding cake as our gift. So we didn’t have to pay for a beautiful, professional, and ultimately, expensive cake. Let it be known, tactfully, that you are happy for your talented friends and relatives to contribute in lieu of gifts. It will save you money, and get everyone involved in the celebration.

8. Order Food that is in Season

This can reinforce your “green” wedding preference, and it means less expensive food. Focus on items that are in season, or that are locally produced. You won’t have to pay for long-distance shipping of other items. This is a fairly simple way to save money.

In the end, with a little creativity, it is possible for a new engaged couple to save money on living expenses and on the wedding. Your wedding should be a celebration of your love, not a wake for your savings account.

Giving Up on Giving Up Soda

I did actually give up soda for a couple of weeks but I decided to start drinking it again.   I decided to cheat one day because I was tired and needed the caffeine.  That led to cheating the next day and deciding to just scrapping the whole giving up soda thing. I do feel that I could give up soda again but I don’t want to right now. The benefits I hoped to see from giving up soda did not happen.  I was hoping that I would sleep better, lose weight, and have improved digestion.  The reason none of that happened is probably because I substituted sweet tea for my soda.  If I want to see any benefits I probably need to give up all caffeinated and sugary drinks.  That is something I might do in the future but for now I’m enjoying my soda.

I’m still doing well on giving up TV.  That has been pretty easy.  The internet, reading and our new Wii is more than enough to keep me occupied.  It also helps that we agreed watching DVDs would be okay.  We just got season 3 of Dexter from the library and are enjoying watching an episode or two of it a night now.  I suppose that is cheating but I was on the wait list for Dexter for months so now that I have it I’m going to watch it.

February Income – $951.13

Here is a breakdown of my income for February.

Online Income

$626.28

Interest

$22.77

Stock Dividends

$12.95

Mystery Shops

$117.20

Survey/Cashback

$47.53

Job

$124.40

Total

$951.13

My income was lower in February than I prefer although it is nice to see most of the income is alternative income and passive income.  It isn’t good to have a month where your expenses were higher than your income.  I’ll make more money than I spend this month because I will be receiving my medical study payment.  It isn’t surprising my income was down in February because I didn’t do much to make money.  I need to put some work into increasing my passive income and alternative income.

 

Online Income Report – February 2011

Here is a breakdown of my online income for February 2011.

Google Adsense – $256.31

Affiliate Income – $199

Brokered Ads – $48.94

Direct Ads – $159.53

Total – $663.58

My online income was down but I’m not too worried about it.  This money was made with very little effort on my part once I start putting more work into my sites they should start making more money for me.  Online income for March should be about the same.  I’ve been experimenting with different Adsense ads and placement but the experiments so far have only resulted in decreased income rather than increased income.  I believe I have finally made some improvements and Adsense should start going back up.  I’ve been getting pickier about ads.  I need to come up with a consistent policy on them and figure out a balance that will make me money but not put off my readers.

February Investment Income – $97.32

My February investment income rose to $97.32 from $97.23 the month before.  This was due to an increase in the value of the funds and individual stocks I hold in my portfolio since I did not add any money to my investments.  I’m hoping I can get this over $100 in the next few months but I’m not yet sure when I will have additional money to add to my investments.  My cash reserves are lower than I prefer right now and I won’t be adding to my investments until I get my cash back up to what I consider a comfortable level.

This is not my actual investment income. To get this figure I first add up my retirement savings, emergency fund, and any other money I consider permanent savings. What the total of my savings would earn at 6% interest for a month is my monthly investment income. My goal is to get this amount to $1000 a month. If I have $1000 in monthly passive investment income I will be able to retire early. You can see what my actual investment income for the month was by looking at my monthly income report and adding the interest and dividend amounts.