The average wedding cost in the U.S. in 2017 was $25,764 according to www.costofwedding.com and with the billion-dollar industry showing no signs of slowing down, many wonder how they can have the wedding of their dreams on a budget.

If you haven’t already, grab our Free Wedding Budget Spreadsheet to get organized and make the best use of your money.

If eloping is not the answer for you and burning a hole in your pocket isn’t desired either, then try these ways to make the wedding of your dreams a reality while staying within your budget.

1) Use digital invites

 
The novelty of receiving a beautifully crafted invitation in the mail for a wedding is always a wonderful way to inform your guests of your upcoming joyous event. However, the costs for invitations can add up quickly.

Wedding invitations, save the dates, and rsvp/menu cards average $700 for 100. With beautiful, personalized digital invites that also offer a wedding website for your guests to use, this is a great and budget-friendly alternative to paper and print invites.

2) Use faux flowers

 
Flowers definitely add pops of color and a unique display of your personality on your big day, but real flowers can come with a hefty price.

$2,100 is noted as the average cost of wedding flowers however fake flowers last longer, can be used in other ways later and cost a lot less. Not to mention you can sell them or lend them to friends for their wedding.

Be sure to look out for clearance or sale flowers. You can also go to craft supply stores such as Michaels and work one-on-one with their dedicated florist. You will only be charged for the supplies and their fee which is half of the supply cost.

If you must have fresh flowers, go for ones that are in season or local.

3) Purchase from a wholesaler

 
Rather than purchasing your needed wedding decor items at traditional stores, why not look into wholesalers who can offer you a great price for bulk amounts?

Many wholesalers will work with you no matter the size of your wedding. If you pay by cash and all at once you may be able to get a deeper discount so be sure to ask.

4) Don’t have your wedding on a Saturday

 
Saturdays have always been the popular day of the week to have a wedding, which also means premium pricing for your venue and services.

Flexibility in what day of the week you host your wedding will open the savings floodgate for your big day. Friday, Sunday and even Monday are becoming more mainstream as they come with hefty price cuts.

5) Be open about your wedding ring selections

 
The wedding rings can cost a pretty penny to express your love and devotion in this traditional manner.

To help you keep this price in line with your budget, try websites such as Overstock.com, be open about the metal and/or gemstones that are being used and try making a cash offer to see if there is flexibility on the price.

6) Offer a buffet rather than sit down dinner

 
Sit down dinners are synonymous with weddings. To mark the formal affair and to ensure that their guests have the best food, couples spend on average $80 per plate. This can of course increase with each addition and modification you make.

To keep your budget numbers in this category as low as possible, opt for the buffet option. By having your guests serve themselves this will cut down on the cost of manpower dedicated to each table and save you lots of money.

7) Have a daytime reception

 
Who says night time is the only time for wedding receptions? The daytime has just as much charm and can make your day even more unique, special and just as importantly, within budget.

Many venues offer a lunch or brunch style reception where you can entertain your guests with lighter meal options that are also lighter on your budget.

8) Go for cupcakes instead of a full wedding cake

 
Many millennial couples are opting out of the heavy wedding cake that can eat up a portion of your budget. Instead the fun and individualized cupcake route is becoming the new standard.

Cakes are charged by the slice and the starting rate averages $7.50/slice. Cupcakes can start around $2.50 a cupcake, significantly reducing your cost. As most of your guests will not even eat the cake, individual cupcakes are a smarter budget choice.

9) Have your wedding in the off-season

 
In America, June to October are when weddings are in full swing and when venues can be the costliest. While most couples tend to want a specific date during the prime weather months, being open to off-season months can bring on large savings.

Decide on several dates you would like in both the on and off wedding season, compare costs, weigh your pros and cons and consult your budget to decide on the date.

10) Create your own centerpieces

 
The floral and decorative centerpiece option can be a stunning addition to any table however it can also take a large chunk of your budget.

Making your own centerpieces allows you to show your true creativity. Utilizing the supplies from craft stores, online discount websites, wholesalers and even your local dollar store, you can make centerpieces that are true to your love story.

11) Modify your guest list

 
This can be one of the most difficult things to do during your entire wedding planning process however if you are on a tight budget, being mindful of who you truly need to have join in on your big day will also help your budget.

Create an ideal number for your guest list and try to stick to it as best as possible. Remember that this day is about sharing it with those most important to you.

12) Make your own favors

 
Turning on your creative skills and gathering the bridal party troop to help with assembly of D-I-Y wedding favors is a great money-saving alternative.

As the average amount spent on wedding favors ranges from $2-$3, the factors that should affect how much you spend on favors are your budget and your guest list size.

Some easy, cost-effective and great make it yourself options for favours are S’mores kit, hot cocoa in mason jars kits and bath salt sachets.

13) Be your own DJ

 
If you plan to have dancing going all night long, musical entertainment will be a priority in your budget.

To avoid this added cost, use services such as Spotify and download your own playlist. By using your laptop and rented speakers you will save a lot of money on a DJ. However, if you do go the route of having professional music entertainment a DJ will cost you 60% less than a live band.

14) Purchase your wedding dress online

 
The wedding dress is a top priority for most brides and with incredibly expensive dresses constantly being showcased in the media, it can certainly seem like a substantial portion of your budget must be dedicated to dress of your dreams.

Online websites such as Alibaba offer custom dressmaking for your needs at a fraction of the cost. Although the average wedding dress costs around $1,500 you can find a gorgeous gown for even less.

If you still feel that purchasing the dress after the big day is not an effective way to spend your budget, renting your entire wedding party’s clothing is a great option that is certainly cost-effective.

15) Use Fiverr to find your photographer and videographer

 
The freelance economy is at its height and certainly provides a competitive market for wedding day services. When looking for a photographer and videographer checking out sites such as Craigslist, Fiverr and Upwork are great options.

Be sure to ask for references and compare the different packages you enquire about to make your best decision.

16) Use students for your entertainment

 
Hiring professional entertainment for your wedding day festivities is a fantastic way to keep the fun going all day and all-night long. Adding this to your lineup however can be a strain that pushes your budget beyond its limit.

Try contacting local schools for the type of entertainment you are seeking to see if they have students who could lend their services for free or a fraction of the price.

17) Take a look at alternative wedding venue options

 
Banquet halls and golf country clubs are commonly used for weddings and generally you pay the price for these places as they offer décor, ambiance and services that you would be looking for on your big day.

If you are open to seeing what else could work for you and your budget, be sure to check out wonderful alternative venues such as museums, art galleries and planetariums.

18) Look for alternative catering options

 
The food selections at weddings are one of the biggest and most important expenses for couples. When you select your venue, seeing if they offer outside catering would be a terrific way to help your budget.

If you can use an outside source you can negotiate the cost especially if you selected the buffet option.

Remember that your special day is about the memories created and no matter your budget, your money should be allocated to the areas that are most important to you and your significant other.

 
Related:

• Wedding Budget Spreadsheet
• 12 Frugal Wedding Hacks
• 15 Wedding Expenses to Budget For

 
 
What do you think is the best way to save money on a wedding? If you are already married, what were your biggest costs?
 
 

Several money-making options are well documented and are considered tried, tested and true methods for adding money to your bank account, however there are many unique and interesting ways to make money that are overlooked.

Whether the world of the side hustle is completely new to you or you’re a pro in this realm, reading our guide to side hustling will help you get started.

Today I have a fun post highlighting 7 side hustle ideas that may surprise you.

1) Brand Ambassador

 
Most people hear the term brand ambassador and think it’s reserved for high profile celebrities and online influencers however many companies today are branching out and are seeking everyday people to represent their brand. Are you interested in getting paid for trying and promoting the newest products a brand has to offer? Then read on.

A brand ambassador’s job is to positively represent a company or brand while raising public awareness of the brand and giving consumers a memorable one-on-one interaction experience.

These positions are great ways to work with major companies, have fun and make great money. On average the starting rate is $20-$25/hour and as you continue to add to your experience, including going on tours or running events for companies in a managerial role, you can start earning $50-$100/hour and sometimes perks are included.

Caught your attention? To learn more check out IZEA or Brand Ambassador World.

2) Pet Airbnb

 
Renting out your space to people has become big business in the new sharing economy but what about renting out your space to furry friends? Opening your home to dogs is a great way to produce extra income while hanging out with man’s best friend.  Many dog owners want to offer their four-legged family members the best of care while they are at work or away on vacation and they will pay for customized services.

Doggie daycares and long-term pet sitting for dogs are becoming a lucrative side hustle for many. In addition, offering side services such as dog walking, daily drop-in visits while owners are at work, and dog pampering services can help boost your income stream in this side hustle.

How much can you make? It can range but the average is $20-$50 per service. With a few dogs per day on your roster, you can certainly make extra money that can earn you hundreds if not thousands each month (or even each week).

3) Rent your Car

 
You have heard of driving for Uber and Lyft but what about cutting out the chauffeuring service and just renting out your car? With the option to rent your vehicle to people who are in town and looking for a specific ride at a great rate, this opportunity is truly a unique one that makes a great supplemental income.

Find out more on how you sign up for this service at Fluid Market and Turo.

4) Professional Bridesmaid/Groomsman for Hire

 
Ever thought about just how big the wedding business really is and how you could get involved? Well, it is a $72 billion-dollar industry and growing each day with hundreds of ways to earn income in this area.

One very unique way is to be a bridesmaid/groomsman for hire. While this may sound like a far-fetched idea or one that would only work in movies, think again. This idea has worked for others with some raking in 5 figures monthly.

If weddings aren’t your thing but you’re interested in the idea, you can offer this service for year-round friendships. Sites such as Rent a Friend make it easy to become buddies with someone for a specific need such as a person to go to a concert with or to be a plus one at a wedding.

5) Coach the Elderly in Becoming Tech Savvy

 
Learning the ins and outs of the digital world is an important skill at any age. Creating a course with one-on-one or group coaching to help seniors navigate the online space and their associated electronic devices can be a great side hustle option.

Many elderly people also struggle with using computer programs and functions to their fullest. Between these services and internet mastery services, you will be able to generate extra income just by using your everyday knowledge in these areas.

With nearly 13% of the world’s population being over the age of 60 there is a large market available to tap into this side hustle niche.

6) Online Dating Profile Consultant

 
The world of online dating is big business and generates more than $3 billion in revenue annually. There are many ways to enter this market as a side hustle and acting as an online dating profile consultant who helps others figure out how to maximize their profile is an uncomplicated way to get your slice of the pie while helping others get the dates they seek.

As a dating profile consultant, you can also branch out by offering associated services such as dating etiquette, one-on-one ongoing coaching and specialized courses that can help your clients raise their dating scene status.

7) Ad Wrap your Car

 
Your car is a useful canvas for companies to advertise and many will pay you well to utilize this space! Ad wrapping vehicles is a great way to earn money while you complete your daily driving routine.

Wrapify pays based on the amount of ad coverage you agree to and the distance you drive which is monitored through their easy to use app. By signing up for making your car a moving billboard you can add hundreds of dollars to your bank account each month!

 
Related:

• 50 Ways to Make Extra Money
• Things My Side Hustle Taught Me About Money
• How to Start a Side Hustle, Even if You’re Busy
• Beyond The Hustle: What To Do When Your Side Hustle Gets Real

 
As you can see, the world of the side hustle is truly open to your imagination. For every niche, there is an opportunity for income and these ten will get you off to a good start.

 
 
What are your most pressing questions about the world of side hustles? What side hustles have you tried and what was your experience?
 
 

But for many the path to home ownership can be confusing. After all, buying a home isn’t something people do that often, so there are many first-time home buyers.

As the housing market fluctuates, the importance of having a solid foundation and the right knowledge is key for first time home buyers to make sure they are making the right choice.

Starting your journey into home ownership is exciting and comes with many questions on how and where to start as well as how to make the right decisions throughout the process.

If you’re thinking of buying a home in the near future, these five tips can help you make sure you are fully prepared for your home purchase.

1) Set a budget

 
Like any goal you set that requires an investment, setting a home buying budget that is unique to your situation is crucial.

The budget you create will help you in several key areas in your home ownership journey such as helping you determine your needs vs. wants, narrowing down the areas you are interested living in, and setting up a timeline and an action plan that keeps you on course.

To begin, check out websites such as Zillow, Trulia and Realestate.com to see what your budget affords you in the areas you are interested in.

Set up a budget to help you save your intended amount by your target date. When calculating your home saving plan be sure to include moving and closing costs as these are expenses that are often overlooked, in addition to these 10 expenses when buying a home.

The amount you take out in a mortgage is an important thing to consider as it can potentially take up a significant amount of your monthly income. A good rule of thumb when planning for your monthly mortgage payments is that the payment should not be more than 30% of your take-home income. This way you will be able to afford other expenses and financial goals in addition to your mortgage.

If you are interested in learning more regarding government loans and home ownership programs, the United States Government offers loan options through The Department of Housing and Urban Development and The Federal Housing Administration. Several programs and loan options are available for those who qualify. The requirements are well worth a deeper look as you research financing your home. You can also ask your loan originator which ones you qualify for. Learn more about your loan options at the official U.S. Government website.

2) Make a Savings Plan

 
It goes without saying that money is a top priority in being able to purchase a home of your own. Nonetheless, saving such a large amount can seem like an overwhelming challenge.

A down payment is a portion of the total cost of a home that you will pay with your deposit. The remaining amount is the mortgage on the home that you will pay each month. The standard down payment on a home is 20%, though there are loan options to pay less than that (sometimes significantly less).

To begin or to bolster your savings plan, set your goal amount and target date by asking yourself questions to assess your true needs and desires in home ownership. Having a strong reason for taking on the project of home ownership keeps you motivated through the ups and downs of the journey. Once you have set your amount, complete a full review of your finances every three months to assess what you can minimize or cut out to increase your saving power and ensure there is no monetary waste.

Set up a budget and automatic transfers to a dedicated “home savings account” to help you save your intended amount by your target date. Also, investigate adding additional sources of income to your savings plan. To see some great options for how to make extra money on top of your 9-5, check out the ultimate guide to side hustling.

3) Check Your Credit Score

 
Another factor that plays a massive role in your ability to buy your first home is your credit score.

Your credit score is a summary of your financial history and is presented in a number that ranges on a predetermined scale from one of the credit score institutions. This number is a prominent factor in determining mortgage and loan rates when purchasing a home. It is extremely important to know this magic number and work towards getting it as high as possible.

Equifax, Experian, and TransUnion are the three nationally recognized credit reporting companies that house your credit score.  You are entitled to a free credit report annually from each of them and should request this to strengthen your financial home ownership plan. The credit report does not have your credit score on it, but it gives you a detailed snapshot of your history with these institutions. You will need your actual credit score as well to get the full picture of your financial history. Learn more about how to check your credit reports and be sure to keep up to date with this essential information.

The good news is that there are ways to obtain your credit score for free. Credit Sesame is one of those sites, and many have used it to access their credit score. In addition, credit cards that offer free credit score updating on your monthly statements are abundant. Be sure to see if your current credit card offers this or see if it is offered if you are opening a new credit card.

If you find that your score needs some work, add building your credit score to your list of things to do in preparation for buying a home. Be mindful of the things that affect your credit score such as being late or skipping payments on bills, using more than 30% of your credit card limit and not having a good mix of loan types and active credit cards. Read up on fantastic tips to improve your credit score here.

4) Check Your Debt-to-Income Ratio

 
As a young adult there can be a build-up of financial responsibilities that can become a stressor on your home ownership dreams. One well known and major financial burden is student loan debt.

If you have a large amount of student loan debt and you’re wanting to purchase a house, the Debt-To-Income (DTI) Ratio can certainly cause issues with your home ownership plans. Your DTI ratio shows lenders how much your monthly debt commitments take from your monthly income. This ratio is important because it provides lenders with a more accurate snapshot into your ability to pay your monthly mortgage and other household responsibilities. If this ratio is too high, it may hinder you from receiving mortgage approval as your lender will include your potential mortgage debt in their calculation.

To calculate your DTI, divide your monthly debt obligations that happen every month such as student loan payments, car payments etc. by your gross (pre-tax) monthly income.

If the calculation is too high, you have a couple options. You can increase your income either at your 9-5 you can lower your DTI by increasing your income monthly (side hustles are great to help in this area) and by lowering your debt amount faster by increasing your payment amounts. Use this spreadsheet to track your student loans.

5) Don’t Rush It

 
Buying a home can also be a pressure-filled decision. At times, it may seem like it is just the natural thing to do at a certain stage in your life especially if others your age or close to you are doing the same. However, taking on the responsibility of home ownership is not one to take lightly or be rushed.

Continue to do your research, stick firmly to your set budget and be diligent with your savings plan. When you encounter low points in the process focus on your initial reason for embarking on this journey in the first place.

While it may not always be easy, especially with a market that constantly fluctuates, you need to determine what makes it worth it for the long haul. Create a list of pros and cons of home ownership and speak with professionals in the real estate and finance industries who can help you fine tune your home ownership vision.

 
Related:

• Finally! An Automated Budget Spreadsheet in Excel

• The Best Ways to Save for the Down Payment on a House

• 100+ Ways to Improve Your Finances

• The Ultimate Personal Finance Checklist (with Free Download)

• 52 Week Money Challenge Spreadsheet and Printable

 
 
What is your view on home ownership and why? If you are a home owner, what was most helpful for you on your journey?
 
 

In addition, the very idea of insurance is viewed as an extra expense that doesn’t offer immediate benefits and usually gets put on the financial needs back burner.

I can certainly relate. In my 20’s, I dreaded having to pay for anything that was not viewed as absolutely necessary and most insurances were in that category.  Besides car insurance for my vehicle, what else could I possibly need until I was a lot older?

Many millennials today have a similar viewpoint regarding coverage.

Millennials vs. Insurance

 
Millennials, also known as the Young Invincibles, has largely turned away from purchasing key insurances for several major reasons: alternative viewpoint on its necessity (why purchase health insurance when you can eat a balanced diet and exercise to keep yourself healthy?), the use of corporate jargon is seen as untrustworthy and of course, cost.

The problem is many millennials do need several different types of insurance to make sure they are protected against the hiccups in life that they are not invincible against. These bumps in the road highlight the very real need of having the right insurances set up during your young adult years as your cash flow is lower and your responsibilities and liabilities continue to grow.

For many, the overwhelming part is not only the nitty-gritty details of insurance but which ones to select in the first place. To help with the decision-making process, here are 5 types of insurances you will need now to protect yourself and your financial future.

1) Life Insurance

 
As your everyday life expands, so do your concerns. From career fluctuations to a suddenly expanding family, life insurance provides the necessary supplementation of income should something unexpectedly happen to you while you have dependents.

The two most popular versions of life insurance are Term and Whole Life or Cash Value. Term insurance provides you with a specific amount of coverage for a specified amount of years (or term) i.e. $500,000 face amount (or coverage amount) for 10 years. The purpose of term insurance is to provide protection during the times you need it most: when you are young, have dependents, have debts and are building your savings. Once these responsibilities and liabilities diminish, the idea is you no longer need life insurance coverage. Term insurance is cost-effective because it is simply “pure” insurance with no bells or whistles attached and is easy to understand.

Whole life (or Cash Value) policies offer coverage for your entire life and come with a savings vehicle attached (the cash value portion). The whole life policy premium is often more expensive than term due to the cash value portion.  This type of insurance was created so coverage would never run out however it is more complex.

To begin your life insurance journey, check out Ethos which has created a “truly online” process for getting life insurance. A large majority of applicants can get approved online with no phone call or physical needed. If you’d prefer to shop around more you could check out Policygenius as well.

If you’re wondering how to determine the proper coverage amount for you, read why DC got a million dollar life insurance policy in his 20s.

2) Car Insurance

 
With a new set of wheels, all sorts of expenses are added to the list and sometimes that includes unexpected fender benders. Buying car insurance is a legal requirement if you have a vehicle, but the actual coverage you purchase can vary significantly on what it does and doesn’t cover.

In the U.S., buying car insurance can be an ordeal as there are so many options to select and know about. Ranging from liability insurance to under-insured motorist insurance to Personal Injury Protection (PIP) Medical Expenses insurance, the list is extensive and can quickly become overwhelming and expensive. Car insurance premiums can creep up on the higher side for many reasons, but the most common are driving history, age, the intended use of the car (business or pleasure), make/model, and sex.

When purchasing car insurance be sure to check out all of the options available to you. In addition, assess what your deductible (the amount you have to pay out of pocket in the event of an accident) would be.

Do you belong to a registered association or organization? Then be sure to investigate the possibility of discounts on your car insurance premiums. Also, look into insurance bundling options for discount opportunities.

3) Health Insurance

 
Your health is a top priority and when a medical concern enters the picture having the proper health insurance in place becomes a major weight off your shoulders. Also, with rising healthcare costs across the nation, health insurance is a must to have in place. Let’s not forget that in the United States it’s a legal requirement to have health insurance.

When searching for the right health insurance plan find out what the plan truly covers. Are vision and dental included? What are your deductibles? Are there are any co-payments? May you go to any doctor, clinic or pharmacy that you choose?  What are the special medical conditions covered i.e. pregnancy and physical therapy? These are all important areas to review when selecting the right health insurance plans.

Are you a full-time entrepreneur on the hunt for amazing health insurance? Read this article geared towards helping freelancers select the right health insurance.

If you have health insurance you more likely than not have a high deductible health plan (HDHP). Because deductibles are so high with these plans, it’s essential to build a “medical emergency fund” through a Health Savings Account. The good news is that a Health Savings Account offers tax benefits. See why we think an HSA is the best retirement account.

4) Renters or Homeowners Insurance

 
If you have a place to lay your head, protecting your space in case of an unforeseen occurrence is key. Flooding, robbery, and fire are common emergencies for renters and homeowners. Protecting your prized positions is very important as the cost of replacing these items can be quite high.

Renter’s (or tenant’s) insurance is a great option that is usually low in cost. When making your selection be sure to review the coverage amount limits for the major categories such as jewelry to see if it will truly be enough based on the appraisal of your items. It’s essential that you have renter’s insurance if you’re a renter because the landlord’s insurance policy will not cover any of your belongings.

Home insurance is a bit more robust as it covers the entire house, it’s contents and incidents that involve your property such as if someone slips on ice on your driveway and is injured. Your policy is assessed by many factors such as your personal credit history, the age, and construction of the house and if you have animals on the premise so be sure to keep these in mind during your search.

When on the hunt for home insurance policies, comparing online is a great way to get the best quotes side by side instantly.

5) Pet Insurance

 
Do you remember that time Bruno ate your shoe and you had to take him to the emergency veterinarian clinic and the first-ever doggie stomach pump surgery was performed? While Bruno was creating history, your once ample wallet became history too.

Being a pet owner certainly brings a lot of joy but it is coupled with major expenses and sometimes these can come about unexpectedly. The options for pet insurance has grown in popularity over the past few years as and it’s easy to see why. According to caninejournal.com, a pet owner is handed a vet bill of more than $1,000 every 6 seconds. On your search for the proper pet insurance assess if it will include prescription coverage, if routine wellness is covered and what are the waiting periods for the policy to come into effect.

Pet insurance is highly controversial as many criticize it for not actually covering most expenses and overall being unnecessary. A better option may be to build a pet emergency fund in case you experience something similar to these pet horror stories where owner’s were stuck with bills in the thousands.

____________________________________________________________

In addition to protecting yourself, learning the ins and outs of different types of insurances now will help you build a strong financial foundation that offers peace of mind. With anything, be sure to read the fine print and do your due diligence in finding the best types of these insurances for your unique needs.

Ready to build your insurance portfolio? Read the millennial’s guide to finding and purchasing insurance online.

 
 
What types of insurance do you currently own? What tips have helped you when purchasing insurance? What insurance do you see as unnecessary?