Attending a Wedding On a Budget (Part 2)

KEY TAKEAWAYS 

Here’s how to create a Sinking Fund for wedding guest expenses.

Start by asking yourself these questions:

Question 1 : What are all the expenses involved?

Make sure you put everything in your budget. Here’s a list of common wedding guest expenses

• Lodging
• Airfare
• Babysitter or pet sitter
• Wedding gift
• Local transportation
• Clothes
• Food
• Incidentals (taxes, tips, etc.)

Question 2 : How much are you willing to spend?

Be honest on how much money you can afford to spend on the wedding overall. If the list of expenses is too high, ask yourself if anything on that list is a want and not a need for you to attend the wedding. Cut anything from your list of expenses that isn’t really needed, or think of ways to cut back on that cost. 

Question 3 : How many months until the wedding takes place?

Take the total amount you need to save and divide it by the number of months until the event. So, let’s say you need to save $500 for a wedding that’s five months away. Set aside $100 each month. You’ll reach your $500 goal right on time.

Attending a wedding on a budget doesn’t have to get overwhelming and complicated. Plan ahead. Budget ahead.