YouTuber Aja Dang's best tips for wedding planning on a budget

YouTuber Aja Dang’s finest ideas for wedding ceremony planning on a funds

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Aja Dang isn’t any stranger to making a funds to achieve life’s milestones. In 2020, she documented on her YouTube channel her journey in direction of paying off $200,000 in bank card, automotive and pupil mortgage debt in simply two years. This yr, she’s given herself a brand new problem: planning her vacation spot wedding ceremony on a $45,000 funds.

Initially, Dang wished to maintain the spending threshold to $30,000, which is extra consistent with what common newlyweds-to-be paid final yr. Based on The Knot Actual Weddings Examine that surveyed about 15,000 {couples} throughout the nation, the nationwide common price of a marriage ceremony and reception landed at $28,000 in 2021. Dang determined to extend to $45,000 as she discovered that planning a marriage in Hawaii was shortly including up, but the placement was necessary to her.

“I used to be born and raised in Hawaii, so I wished to go again residence for our wedding ceremony,” she tells Choose. “Extra importantly, my Popo is the one grandparent nonetheless with us and since she will likely be 95 by the point we get married, it was necessary for us to go to her for our wedding ceremony so she may very well be part of our day.”

Vacation spot wedding ceremony or not, and whatever the budgeted greenback quantity, wedding ceremony planning is a annoying enterprise. Beneath, Dang shares three ideas that she discovered when attempting to stay to her monetary targets for now and within the close to future.

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1. Prioritize what’s most necessary to you

2. Find a venue that offers wedding packages

One of the very first decisions you’ll make in the wedding planning process is picking a venue. When doing so, Dang suggests finding one that offers wedding packages so that you can get high-quality vendors at a discounted rate.

“When I first started wedding planning, I was told that finding vendors on your own was the more affordable route but it was not — at all,” she says.

After spending a couple of months trying to scout out vendors by themselves, her and her fiancé ended up going with their venue’s package offerings — a move that saved thousands of dollars.

“The vendors were offering deep discounts for the constant flow of clients the venue was sending them,” Dang explains. “For instance, we previously spoke to a caterer who quoted us $8,000, but when we decided to go with the venue’s package and found out they recommended the same caterer, our quote was lowered to $5,000.”

3. Have a plan for any money you save

If you’re able to be under budget when planning your wedding, or you haven’t decided yet what you and your partner will do with any cash gifts you may receive, think about where you can best maximize those funds for the future.

While you may want to allocate that money to a honeymoon away, consider putting a portion of them into a savings or investment account that can start you and your partner’s new life together on the right foot.

With a large $30,000 contribution from her father for the wedding, Dang ended up having a considerable amount of savings. She put only half, or $15,000, of his contribution into the wedding fund (her and her fiancé funded the rest) and invested the other $15,000 into a brokerage account to save up for a down payment on a future home. Select ranked TD Ameritrade, Ally Invest and Fidelity as some of the best brokerage accounts with no commission fees.

“We’re fortunate enough to be able to save for both a wedding and a home, but since the LA market is too crazy right now, it’s giving us more time to build up a nice nest egg,” she says.

While a substantial contribution from a family member can make a big difference in how much you end up saving while wedding planning, the idea is that you have a purpose for any amount of cash you can stockpile. It’s important to think of financing married life beyond just that special day.

Consider a high-yield savings account like the Marcus by Goldman Sachs High Yield Online Savings or other options from big banks, like an American Express® High Yield Savings Account or a Barclays Online Savings account. Each of these options earn you more interest than stashing that cash in a traditional savings account. This way, you and your partner can grow your savings for a future expense, like a down payment on a first home, without taking on the risk of losing the money like you would by investing it in the market.

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Editorial Word: Opinions, analyses, evaluations or suggestions expressed on this article are these of the Choose editorial employees’s alone, and haven’t been reviewed, accredited or in any other case endorsed by any third social gathering.