Believe it or not, for some borrowers marriage can have a big impact on their student loans.

In some cases making certain decisions on how you repay your student loans during marriage can cost you thousands or even tens of thousands of dollars.

Conversely, in some situations you can save tens of thousands of dollars by getting strategic about how you repay your student loan debt.

Later I’ll walk you through an example where this is the case, but first let’s establish exactly why this is the case.

When Being Married Impacts your Student Loans

 
Some student loan borrowers are not impacted by getting married. A good example is if you and/or your spouse both are on the standard ten-year repayment plan. Getting married doesn’t impact your payment – you will continue to make your standard payment, just like you did before getting married.

The same is true of private student loans. See our private student loan repayment guide for tips on how to save money.

If you or your spouse are on an income-driven repayment plan it’s a different story: being married impacts your payment calculation.

Income-driven repayment plans calculate a payment based on your discretionary income. Discretionary income is calculated as Adjusted Gross Income, AGI, less additional deductions related to family size and the federal poverty level.

AGI is a number on your tax return. The way it is calculated is Gross Income less certain allowed deductions. These deductions include, among other things, contributions to a tax-deferred retirement account like a 401k, 403b, or standard IRA. Contributions to a Health Savings Account, or HSA, is another good example.

Income-Driven Loan Repayment Example

 
Below is an example from our student loan spreadsheet, which you can download for free and plug in the numbers relevant to your situation.

In this example we are using an individual – let’s call him Ted – with a household size of 1 who lives in Delaware. His AGI is $40k, and she has $85k of federal student loans at a 5.0% interest rate.

By switching to an income-driven repayment plan, his minimum monthly required payment drops dramatically from what it was under a standard ten-year repayment plan:

 
Clearly being on an income-driven repayment plan can be helpful for borrowers with a significant amount of student loan debt relative to their income.

If Ted was eligible for Public Service Loan Forgiveness (PSLF), where he would get his eligible loans forgiven tax-free after 120 eligible monthly payments, he would have a huge incentive to minimize how much he pays towards his student loans. It’s time for Ted to switch plans.

But what if Ted was ineligible for PSLF based on his employer being a for-profit? In that case as long as he expected his income to stay relatively close to what it is and not see a huge spike in the future, it likely makes sense for him to start working down the path of income-driven loan forgiveness. This loan forgiveness only happens after 20- to 25-years, and the forgiven amount is treated as taxable income, but it could still result in Ted saving tens of thousands of dollars that he otherwise would have put towards his student loans.

Student Loans and Marriage

 
In our example Ted was single. But marriage impacts the calculation, and the impact can be traced back to how you pay your taxes. Two general guidelines to keep in mind:

• When you file a joint federal income tax return, your student loan payment will be based on your joint income. In this situation, one thing that potentially helps ease the burden of having two incomes factored in is that student loans from both individuals are also factored into income-driven repayment calculations.

• In general, when you file your federal income tax return as “married, filing separately,” your student loan payment will be based on your individual income. Two notable exceptions: when you are on the REPAYE income-driven repayment plan or when you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin).

Here is another way of looking at how your tax filing impacts your income-driven repayment calculation:

 
If you live in a community property state, we’ll go over the implications of that in a minute. But first let’s take a look at the impact on non-community property states.

When you look at the list above, you may wonder why people wouldn’t just switch out of REPAYE and file taxes separate? Well, for a couple reasons:

• You are only eligible for PAYE if you are a new borrower as of October 1, 2007, and you need to have borrowed a Direct Loan or a Direct Consolidation Loan after October 1, 2011.

• IBR considers 15% of your discretionary income instead of 10% like REPAYE, unless you were a new borrower on or after July 1, 2014, in which case you would get the “new” borrower rate of 10% of your discretionary income.

Not everyone is eligible for PAYE, or they likely would switch if filing taxes separately would benefit them. That means IBR is the default second choice, but many borrowers who switch to IBR from REPAYE will be paying 15% of their discretionary income.

Nevertheless, some borrowers will benefit in a huge way by having their income-driven repayment calculated solely on their income and not on their spouses. In these situations a borrower needs to seriously consider switching out of REPAYE.

Let’s look at an example.

In our earlier example Ted was benefiting greatly from being on an income-driven repayment plan. if Ted was pursuing PSLF he would likely end up having tens of thousands of dollars of student loans forgiven tax free, potentially cutting a year or more of work out of his life before he reached financial independence.

But what if Ted is married?

Let’s assume Ted’s wife, Angela, has an AGI of $100k. Let’s also assume she has no student loans.

Ted was previously on REPAYE, paying $174 a month towards his student loans.

Ted and his wife filed their taxes jointly, as most married couples do. For simplicity, let’s assumed their combined AGI is $140k.

Unfortunately Ted’s student loan costs go up significantly in this scenario.

 
In this scenario Ted is paying $777 more a month – or over $9,000 a year – than when he was single.

Ted is being penalized for being married.

Assuming Ted would get student loan forgiveness if his wife’s income wasn’t factored in, that’s a lot of cash flow to give up each year that could otherwise be going towards paying down debt, investing, or for a house down payment.

Especially if Ted is eligible for Public Service Loan Forgiveness, it makes sense for him to look for a better repayment strategy.

Remember, with REPAYE, it doesn’t matter if you file your federal taxes as “married filing separately,” both you and your spouse’s income is considered.

Let’s assume he’s one of those individuals – like my wife and I, and millions others – who is ineligible for PAYE. His next best option is IBR. Since he isn’t a “new” borrower, he has to pay 15% of his discretionary income.

If Ted files his taxes as married, filing separately, and switches to IBR, his required minimum student loan payment would $261 a month.

 
In this scenario, Ted would still save nearly $700 a month or over $8,000 a year on his student loans by making the switch.

There are some implications to married, filing separately. There is a tax hit that most people take when they go this approach.

Unfortunately the odds are that the average accountant doing tax returns has no idea how your tax filing impacts your student loans. You should still ask an accountant for advice, but take it with a grain of salt.

One way to see how much of a tax hit you would take is going through a tax software like TurboTax and running both married filing jointly and married, filing separately. Then compare the tax difference between the two.

For Ted and his wife, if the tax difference is less than $8,000 then it makes sense to file as married, filing separately.

But we haven’t yet hit on the fact that there are strategies for saving even more money on Ted’s student loan payments.

For example, is Ted putting away as much as possible in his standard IRA and 403b/401k? If not, increasing that contribution will lower his AGI, which in turn lowers his discretionary income, and ultimately his required monthly student loan payment. Read more about strategies for maximizing Public Service Loan Forgiveness (these strategies will be relevant for those pursuing income-driven loan forgiveness as well).

Community Property States and Student Loan Repayment

 
As if student loan repayment strategy wasn’t complex enough, community property states add another layer of complexity.

Community property states include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

In these states, even if you file your income tax return as married, filing separately, each individual must report 50% of their spouses income.

Going back to the example of Ted, he and his wife would end up reporting the same income. I’m oversimplifying it, but essentially his AGI would be $70k and his wife’s would be $70k, instead of $40k and $100k, respectively.

This obviously makes it more difficult for Ted to maximize student loan forgiveness: it doesn’t matter who makes the income, they both need to report it.

There are some scenarios where this could create a unique opportunity, though.

Let’s use another example, Rachel and her husband Jeff. Rachel works at a nonprofit that is an eligible employer for Public Service Loan Forgiveness and her AGI comes to about $100k. She has $220k in student loan debt, all eligible loans for PSLF. They live in California, a community property state.

One key piece of information: Jeff doesn’t work. He stays home raising their two daughters.

Here’s what her payment would look like if they file as married, filing jointly:

 
In this scenario, Rachel would be paying approximately $6k a year in student loan payments. Since she is going for PSLF, it makes sense to minimize what she is paying. If she files married, filing separately. She could report $50k AGI instead of $100k, since her income would be split between her and her husband, and her husband doesn’t make an income.

She would now pay approximately $2.4k a year instead of $6k, a savings of approximately $3.6k.

Note that I am not a tax expert and I set her dependents at 2 in this example, assuming her and one daughter would be claimed on her tax return and the other daughter on her husband’s. I could be wrong about this – always discuss taxes with a qualified tax accountant.

But the point remains the same that in some situations a community property state could help people pay thousands less in student loans and maximize student loan forgiveness.

Student Loan Resources
 
Here are a few student loan resources to check out:

Student Loan Solution: 5 Steps to Take Control of your Student Loans and Financial Life

Free Student Loan Spreadsheet

Private Student Loan Refinancing Guide

Big life events that need their own budgets include a vacation, a home remodel, and yes – a wedding.

Weddings aren’t cheap. The average wedding in 2015 cost $32,641 according to TheKnot.com. Not cheap!

Whenever you are spending thousands of dollars on something – and in the case of a wedding, potentially tens of thousands of dollars – it makes sense to create a budget and track your spending.

The best way to budget and track your progress is using a spreadsheet application such as Excel.

Since I enjoy creating spreadsheets, I took it upon myself to create a wedding budget spreadsheet that you can utilize to set a wedding budget and track your spending throughout the process.

There are no shortage of weddings each year and they keep getting more and more expensive, so there’s good reason to choose where you want to spend your money and where you are willing to cut costs.

Having a wedding budget spreadsheet where you set your budget and continually update with spending will help you to stay on top of your finances and, hopefully, stay under budget.

Ultimate Wedding Budget Spreadsheet in Excel

The wedding budget spreadsheet I created covers all the bases. It has a few major categories including:

• Apparel
• Rings
• Stationary
• Photo & Video
• Bachelor and Bachelorette Party
• Flowers
• Rehearsal Dinner
• Ceremony
• Gifts & Favors
• Reception
• Honeymoon
• Miscellaneous

There are two tabs for the wedding budget spreadsheet. A summary tab and a detailed tab. The detailed tab feeds the summary tab.

I think the summary tab is useful as the detail tab can be a bit overwhelming to look at it if you are just looking for a “snapshot” of where you are at from a spending perspective.

Here’s what the summary tab looks like:

Within each category there are more detailed line items, including “catch all” buckets for anything not covered by the line items. Here’s an example of the “Reception” section:

Here’s a partial view of the detailed tab. Click the image below for a better view.

 
If you want to organize your wedding budget this is the way to do it!

To get the wedding budget spreadsheet fill out the form below. You’ll get the spreadsheet delivered to your email address.
 

 
 
Here are some wedding-related posts that you may enjoy:

• 12 Frugal Wedding Hacks

• 15 Wedding Expenses to Budget For

• 7 Unexpected Costs of a Wedding

The week after I got engaged I opened my first shared bank account with my fiancé.

We had a wedding to save for and a shared savings account seemed like a good way for us to work toward that goal together.

Having all of your money flowing into one shared place can simplify everything from day to day expense management, like paying the rent, to planning for the future, like saving for a honeymoon.

But my fiancé and I were 32 years old when we got engaged. We’d already spent well over a decade earning, saving, spending and managing our own money.

I didn’t want to give up my fancy workout classes that my fiancé may have considered overpriced any more than he wanted to stop buying UFC pay per view fights that I had no interest in watching.

So while financial cooperation was important to us as we entered into this new life stage, so was our financial independence and autonomy.

Rather than trying to choose between two extremes – combining all of our finances or keeping our money totally separate, we decided to develop our own system for merging our money. One that didn’t dictate exactly how many bank accounts we could or couldn’t have, but rather, one that provided us with a framework to start managing our money as a team. A framework created around three central tenets…

• expectations
• rules
• and goals.

Setting Shared Financial Expectations

 
Our first step was to define our expectations. We started by opening a shared savings account and defining how much we expected one another to contribute.

We also defined our expectations around how the funds in the account would be used – in this case, to pay for our wedding and honeymoon expenses.

After that initial discussion, we started thinking about managing our money more broadly – not just in the context of saving up for our wedding, but also in the context of laying a financial foundation for the rest of our lives.

To better define our expectations we had to zoom out from the goal that was right in front of us (our wedding), and take a look at our full financial picture.

It was an opportunity for us to take a financial inventory of our own lives and share with one another.

How had each of us been saving (or not saving) for retirement? What new expectations did we need to create? Ex. We each commit to saving 20% of our annual income in tax advantaged retirement accounts.

We also had to assess our savings for other short-term goals and emergency savings – defining how and where we would save for each.

We also had to revisit our living expenses and talk about our expectations for managing our shared costs now that we were getting married.

We decided to open up a shared checking account and set the expectation that we’d each contribute $2,000 per month to the account to cover our household costs, leaving plenty of buffer room to cover miscellaneous expenses and transfer the overflow into savings if and when possible.

Setting expectations around each piece of our financial life helped us get on the same page financially, even if our money wasn’t all in the same accounts.

As long as we continue to meet the expectations we set together – like our respective retirement fund contributions, savings contributions and monthly checking account deposit, we’re free to spend the rest of our money however we like.

I can splurge on Classpass and barre workouts and he can pay for pay per view UFC fights without judgment or guilt. In other words by getting clear and specific around the expectations we have around our finances, it allows us to spend and save freely otherwise.

Setting Shared Money Rules

 
Our next step was to identify our money rules. Similar to financial expectations, financial rules are about getting on the same page with your partner about how you will or won’t manage your money.

For example, you might set a rule around debt. Maybe you and your partner agree that you will not open up a credit card or apply for any other line of credit without talking about it first.

Or maybe you come up with a dollar amount at which you and your partner agree that you will stop to check in with one another before buying something (even if the money is coming from your individual accounts).

One essential rule is deciding how frequently you’ll review and discuss your money plan. I like setting aside a fixed time every month to go over what’s working and what isn’t, to see how and where we can make adjustments ins our financial plans.

These ‘money dates’ give us an opportunity to talk about where we both stand financially, what we both want to achieve financially, and what steps we’re both taking, both individually and as a team, to make those things happen. It also gives us the chance to address unexpected expenses or circumstances – adjusting our plan as needed.

We realize that our goals will inevitably change over time and that we’ll need to continually re-prioritize and readjust our financial plans together to stay on the same page. So our money talks are as regular a relationship practice as anything else.

Setting Our Money Goals

 
Setting money goals is the third critical ingredient of our shared financial framework.

Once we committed to being our relationship for the long haul we needed to make sure we were managing our money for the long-term as well. In other words, we had to address more than the day-to-day financial questions like who pays for what, and start mapping out our goals for the next five, ten, twenty plus years.

So we started sharing all our financial priorities with each other – from financing epic travel to being covering basic emergency savings needs.

We talked about what existing plans and savings we already had in place to achieve those goals and what steps we were still taking. Once we identified the top goals we each wanted to achieve, we created rules and expectations around what we needed to do financially to support those goals, so we could commit to achieving them together.

By using goals, rules and expectations as the foundation for our shared financial strategy, we’ve been able to avoid common money conflicts – like judging one another for our financial choices or telling each other what we can and can’t spend money on.

Instead of saying something to the effect of, ‘you spend too much money on video games,’ I can say something like ‘I think we need to save more money each week if we still want to go to Hawaii for our honeymoon. Can we talk about how we can do that?’

By steering the conversation back to our shared plan and goals (rather than his choices or my behaviors), we’re able to side step situations that lead to a communication breakdown. Maintaining our financial independence and autonomy while staying committed to our newly shared future.

I’m not naïve enough to believe that our system of managing money together is totally perfect and that it will continue to work exactly as it does right now for the rest of our lives.

I expect my partner and I will disagree at times and get discouraged and struggle to find compromise in our financial life, much like we do in the other facets of our life. I expect that circumstances like job loss or illness will force us to adjust our shared rules, expectations and goals.

But by maintaining the practice of a regular money dialogue and grounding whatever financial strategy we use in the framework of expectations, rules and goals, I’m confident that we’ll continue to be able to manage our money as a team, even if we use our own unique system for doing it.

Stefanie O’Connell Rodriguez is a nationally recognized millennial money expert and author of the book, “The Broke and Beautiful Life.” She is also the founder of Statement Cards, a greeting card company that celebrates financial wins — from getting a raise to paying off your student loans.
 
 

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?
 
 

While most stores have not yet announced their Black Friday deals for the year, historically, there have been a multitude of opportunities to find substantial deals on wedding supplies. You can use Black Friday to your advantage by looking for these 12 items on sale.

1) Centerpieces

 
Centerpieces are never cheap, and depending on how many tables you have at your reception, it can be downright costly. Whether you are looking to purchase ready-made centerpieces or to buy the supplies to make your own, craft stores and hardware stores often hold Black Friday sales on these items.

Not surprisingly, Amazon has a great selection of nearly anything you could think of wedding related. If you are a Prime member, you can save even more money.

2) Wedding Attire

 
Who would have thought that even bridal shops participate in Black Friday sales? While not every store does, you can call in advance to make an appointment. Many bridal stores will offer steep discounts on wedding and bridesmaid dresses from the rack.

Black Friday can also be a good time to shop for the men in the bridal party, especially if you are considering buying a tux or suit instead of renting. Even department stores deeply discount suits and other clothing on Black Friday.

3) Wedding Guest Attire

 
If you have plans to attend a wedding as a guest, you are likely to find significant deals on dresses, shoes, and other attire on Black Friday. You can find many deals at your local bridal shop, mall, or even online. Most retailers still offer deals online during Black Friday. Many times, these Black Friday deals will extend online through Cyber Monday, but be sure to check in advance so you don’t miss your opportunity.

4) Luggage

 
Luggage might be one of the last things on your list, but if you’re jetting off on a honeymoon immediately after the wedding, you won’t have time to scramble to find it. If you’re not deliberately looking for a deal, luggage can be very expensive.

Luckily, luggage seems to be an item that is typically marked down drastically for Black Friday. If you don’t have a quality luggage set, Black Friday is the perfect time to look.

5) Jewelry

 
Depending on what the rest of your attire looks like, you may be wanting to purchase some jewelry to go with your outfit. While you can always borrow jewelry from someone you love, you may still decide to purchase your own. If so, Black Friday can save you hundreds, if not more.

Local jewelers often host Black Friday deals, but you are also sure to find discounts at nationwide jewelers. Department stores also offer steep discounts on jewelry.

6) Shoes

 
You might be tempted to purchase shoes from the bridal store, but those are often significantly more expensive than you could purchase on your own. Nowadays, you can find quality dress shoes in department stores and even on Amazon. And if you want your bridal party to wear matching shoes, Black Friday can be the perfect time to look. Your bridal party will thank you for keeping their budget in mind.

7) Day-Of Kit Items

 
Even if your wedding is months away, you can never start thinking of what you might need that day in case of emergency. Items such as extra hair supplies, a first aid kit, snacks, stain remover, a sewing kit, scissors, static guard are all good to have on hand in case something should happen during your wedding.

Though they might seem like small, inexpensive items, it can add up quickly, and no one wants another expense right before their wedding. When you are doing your Black Friday shopping, keep an eye out for these small items.

8) Invitations and Programs

 
Personalized invitations, wedding programs, and thank you cards are all a major cost of a wedding. Minted is one website that offers a wide selection of wedding stationery to fit any couples’ style.

Though they haven’t announced Black Friday deals yet, it is worth putting on your watch list. They hold specials year-round as well, so even if you miss Black Friday, you can still score a great deal on wedding stationery.

9) Gift Items

 
Many couples choose to give a small gift to their friends and family who constitute the bridal party. It might be some jewelry to wear during the wedding that they can keep, or a tie for the men. It could also be something personalized or monogrammed, such as a wine glass, bag, or other. Whatever you choose to give, it’s no secret that buying a gift for everyone in your bridal party can add up quickly, especially if you are trying to give something personal to everyone in your bridal party.

Again, many Etsy shop owners choose to hold Black Friday deals of their own. Depending on what you are purchasing, retailers such as Amazon, department stores, and craft stores could have Black Friday deals as well. The best way to ensure you’re getting the most for your money is to create a gift list in advance, search for the items online and continue to check it to see if there will be a Black Friday sale on that item.

10) Party Favors

 
What’s a party without a small favor to give at the end? But even a small favor can add up quickly in costs when you have to buy enough to give to every single wedding guest.

When thinking about affordable party favors, the two vendors that come to mind are Etsy and Amazon. Since there are multiple sellers on each site, not everything is discounted for Black Friday. But you can take the time to scour these sites during Black Friday to find deals from the comfort of your own home.

11) Craft Items

 
You are bound to need some items from a craft store, even if you aren’t doing most of the decorating yourself. Stores like Hobby Lobby and Michaels have historically offered heavy discounts during Black Friday – but go quickly. The stores are often packed with people picking up holiday decor.

12) Florals

 
On Etsy, you’ll find scores of shops that create artificial floral arrangements. Many of these shops offer steep discounts on Black Friday. You will even find that many of the shop owners will take custom floral orders, so your floral arrangements can look realistic and meet your needs.

You can also look at websites such as afloral.com. They have frequent sales throughout the year, making their floral arrangements much more affordable than buying real flowers.

 
 
If you are getting married, what Black Friday deals do you hope to find? If you’re not getting married, do you shop during Black Friday? If so, what items do you typically look for?
 
 

According to Consumer Affairs, family and friends spend an average of $703 per wedding they attend.

Millennials spend about 27% more than the average person does on attending a wedding which comes out to an average of $893 to attend a wedding and $928 to be in the wedding party.

You’re likely to attend a few weddings throughout your lifetime so these numbers could easily multiply.

If you find that money is tight around wedding season or feel the need to decline an invitation just because you don’t think you’ll have enough money to be able to attend the nuptials, consider doing some of these things to cut the cost of attending a wedding.

Wear Something You Already Have or Shop the Clearance Rack

 
When you’re going to an important event, you may feel an urge to run out and buy something new to wear. This isn’t always necessary. If you already have a few nice outfits in your closet, consider picking one to wear to the wedding. It’s just one day and as long as you look presentable, you don’t have to go overboard by buying a new suit or a brand new dress unless you’re in the wedding party.

If you don’t have much to wear and need to buy something new, try starting at the clearance rack of your favorite store to see what’s on sale. You can find a ton of bargain deals when you simply stop and look. You may even be able to find something nice and new to you at a resale store.

Redeem Credit Card Rewards and Miles

 
If you have credit card reward points, cash back, or frequent flier miles, you can redeem them to cut the costs of travel if the wedding is out of state and you need to fly in.

When it comes to supporting your friend or family member who lives in another state, airfare will often be your highest expenses but credit card and airfare rewards can help supplement the cost of your flight. You can also use sites to compare airfare rates like Priceline, Kayak, or CheapFlights.com.

Or, you could just wait around for a sale if the wedding will not be for some time. Sometimes, tickets are cheaper on certain days of the week so you may be able to fly in a day early and see if you can stay with the bride and groom, a family member, or another friend until the wedding.

Ask For a Hotel Group Rate

 
The hotel will be another major expense if you’ll need to spend a weekend away for the wedding. If lots of guests are coming in town for the big day, you can ask the bride and groom or wedding planner to see if they can set up a discount hotel group rate.

I did this for my wedding guests even though my wedding was technically in-town. My husband invited a few family members from Tennessee and lots of people from his hometown which is about an hour away so I asked a hotel to offer us a discounted group rate to accommodate anyone who didn’t want to drive back home right after the wedding.

At the hotel we used, they told us we needed at least 10 guests to book a room in order to offer everyone a discounted rate and that didn’t sound too bad.

In addition to getting a cheaper room rate, you can also share a room with a friend or your significant other for the wedding so you can split the costs.

Purchase Gifts on Sale

 
The average wedding gift can easily run you around $100 give or take and not bringing a gift for the bride and groom is pretty rude. When you want to purchase something nice that doesn’t cost an arm or a leg, consider shopping during the off season to catch some sales.

After Christmas is a great time to catch sales along with around Memorial Day. Also, if a store in your area is closing and offering some extreme discounts, you may be able to find a nice gift for the wedding there.

Ask the bride and groom to put their registry up several months in advance if they can which will give you enough time to find a reasonably-priced gift.

When you shop online, you can use Ebates to apply coupons to your purchases and earn cash back on your spending.

You can also even consider a homemade gift if your budget is super tight. Bath salts, bath bombs, and candles are all nice or even a framed photograph.

Say No to the Wedding, But Yes to the Other Festivities

 
Finally, realize that you may just have to say no if you truly don’t have the money.

Most couples who have traditional weddings send out save the dates and invitations early on which may help you with budgeting but if you are invited to several weddings all around the same time, you may have to take a rain check on some of them.

However, if you can’t attend the wedding, that doesn’t mean you can’t take part in any of the pre-wedding festivities. Make it known that you’re interested in coming to events like the bridal shower or the bachelor/bachelorette parties to show your support.

Attending these events will be much cheaper than coming to the wedding and you can still partake in some of the festivities.

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At the end of the day, it all comes down to your budget. While you may not be able to afford to spend hundreds of dollars to attend a wedding, you can lower the costs by using some of the tactics I shared in this post.

Realize that time will be on your side when it comes to attending a traditional or even a destination wedding because most couples will send a save-the-date or invitation well in advance allowing you enough time to save and work the extra expenses into your budget.

However, it’s not necessary to resort to running up your credit card and getting into debt to attend a wedding so there’s no harm in saying no when it’s applicable or coming up with an alternative solution.

 
 
Have you ever used any of these strategies to cut the costs of attending a wedding? Did you ever have to turn down a wedding invitation due to the costs associated with attending?
 
 

With the average cost of a wedding being over $31,000, it’s clear that people are willing to spend big bucks to make their big day perfect.

But have you ever considered how you could make money off of weddings?

Think about all the costs that go into a wedding. From food, music, venues, flowers, and more, it takes a ton of people to make the event happen. With that, there is unlimited opportunity to earn money from weddings.

Here are 25 ways you can make money off of weddings, whether as a side hustle or full-time gig.

1) Photographer

 
Wedding photography will always be in demand, and couples are willing to pay a premium for outstanding services. The best part about being a wedding photographer is you can increase your price as you gain more experience and skill.

Beginning photographers can still make over $1,000 for a day of shooting and photo editing. Many photographers in large cities charge upwards of over $5,000. Another plus of being a wedding photographer is that you can offer to travel. Often, photographers will forgo payment if a couple pays for their travel arrangements to a destination. This can be the perfect arrangement for anyone who is passionate about traveling!

2) DJ

 
Being a wedding DJ isn’t always easy, and it’s an important job, but if you’re passionate about music and partying, this could be the perfect fit for you.

DJ’s can expect to earn anywhere from $500 to $2,000 for a gig. And if you like to party, this might not even feel like work to you.

3) Wedding Planner

 
Wedding planners need to be extremely detailed and customer-focused, but they are in very high demand. Planning a wedding is stressful, and a wedding planner helps ease the burden.

As a full-service wedding planner, you can expect to earn anywhere from $3,000 to $10,000 per wedding for your services. So if you charge $5,000 per wedding, you would only have to plan 10 weddings a year in order to earn $50,000. Not too bad!

4) Day-Of Coordinator

 
If full-blown wedding planning is too demanding for you, you could consider being a day-of coordinator.

A day-of coordinator is there to make sure everything runs smoothly during the wedding day. If any questions or issues come up, people will be directed to you. While you won’t be planning every detail of the wedding, you need to get a good understanding of the timeline of events and desires of the couple.

Wedding coordinators charge a range of $500-$1,500 per wedding.

5) Ceremony Musician

 
Ceremony musicians are typically pianists, organists, string instruments, or even singers. If you have skills like this, you could turn a hobby into a paying side-gig.

Individual musicians charge anywhere from $200-600 per ceremony.

6) Play in a Wedding Band

 
If you’re in a band currently or have musician friends, you could consider starting a wedding band.

Wedding bands can price how much they charge either as a whole, or each individual band member can set their own rates. As a whole, bands can expect to earn anywhere from $3,000-10,000 per event.

7) Sell Bridesmaid Products on Etsy

 
Blinging out your bridesmaids has become way trendier than it used to. Today, people will pay for gifts for “Will you be my bridesmaid?” gifts, bachelorette party swag, getting ready outfits, and thank you gifts.

If you’re crafty and business-oriented, you should consider starting your own Etsy shop, like Walkin on Air did.

8) Catering

 
There are so many ways you can make money in the catering industry, whether or not you can cook.

While you could start your own small-scale catering company and expect to earn a profit, you can also work for a catering company as a server, bartender, or even delivery driver. Many of these jobs are needed nights and weekends, making it the perfect side hustle.

9) Decorate Cakes

 
You might need to check with your state laws regarding this, but most states will allow you to at least sell cakes out of your home as a hobby business. Since wedding cakes and other wedding desserts are always in demand, this makes for a fun and solid way to earn money off of weddings.

For my wedding, I found a hobby baker to make our cake for 75 people and it cost around $300, and honestly, that was a steal! Many other bakers were charging around $600 for the same size of cake, so there is bountiful opportunity as a baker.

10) Become a Florist

 
You can’t have a wedding without flowers. The average couple spends over $2,000 on wedding floral décor.

I’ve seen brides sell faux flowers on Etsy for over $100 per bouquet. It takes creativity and skill to create floral arrangements, but it can be a fun business if you’re into it.

11) Rent a Photo Booth

 
It seems like photo booths are becoming a staple at wedding receptions. They are pricey to buy up front (around $10,000 for a decent one), but you can rent it out for $1,000-2,000 per event. That’s a worthwhile investment if you ask me.

12) Own and Rent Out a Wedding Venue

 
Buying a venue space is no small investment, but the return can make it very worthwhile. People are always on the lookout for beautiful venues and are willing to pay whatever the cost. Depending on the location, you can expect to earn anywhere from $1,000 to $10,000, if not even more.

13) Make Custom Bridesmaid Dresses

 
Bridal stores are often overpriced and unwilling to work with a bride’s timeline, so many people (including myself) have searched for other options.

When I looked on Etsy, I found a shop that sold custom-made bridesmaid dresses. I thought this was a genius idea, because it really filled a gap in the bridal market.

I paid $90 for a custom bridesmaid dress and had it made and delivered to me within a week’s time. Based on the speed of delivery, I assumed they were fairly simple to make and it must be a pretty profitable business.

14) Lease Out Your Home

 
If you own superb residential property, you could rent it out for weddings for a significant fee. Many smaller weddings don’t want to pay for the cost of a large public venue, so they opt for smaller and more private venues instead. Just make sure you check with your home owners’ association and city before you do this.

15) Rent Out Vehicles

 
Invest in a classic car, limo, or party bus to rent out for weddings. Prices vary depending what you are renting and your location. Cars typically run for $200-300 a day and more for buses or limos.

16) Videography

 
Remember back when tape recorders were so big they had to sit on your shoulder? Well, that’s definitely not the case anymore.

Videography is becoming more popular than ever as a way to remember the day. Videographers can charge per hour or per project.

17) Become Ordained

 
Many weddings happen outside of a religious building, and people sometimes prefer to have a family member or friend perform the actual ceremony. Each state has different requirements, but ordained leaders can charge a few hundred dollars per service, plus they get to be a part of a couple’s special day in a big way.

18) Design Wedding Invitations

 
Gone are the days of having to go to the local invitation shop and paying thousands of dollars for printed invitations. Today, people are looking for cheaper and more creative alternatives to the traditional wedding invitation.

There are so many possibilities for designing your own wedding invitations. You can sell your designs to larger companies, design and print your own invitations, or just simply sell the PDF on Etsy and allow couples to download and print their own invitations.

19) Be a Seamstress

 
Many brides are finding it to be more costly and time consuming to have a bridal salon do wedding gown alterations, so they are looking for alternatives.

If you are skilled at sewing and restructuring garments, you can open up your own seamstress business on the side. Some brides will spend up to $500 for alterations, so there is opportunity to make quite a bit of cash.

20) Rent Wedding Furniture

 
Furniture is becoming the latest trend for receptions. Throughout the reception hall, you might find a cozy little corner with a soft couch, chair, or even a portable fireplace!

Invest in a few statement furniture pieces and rent them out for upwards of $300 apiece.

21) Create Custom Party Favors

 
Every couple wants unique party favors, and are willing to pay for something custom and memorable. I’ve seen people selling favors on Etsy that they simply personalized by adding a sticker or printing the bride and groom’s name on it. Prices vary depending on what you’re selling.

22) Become a Proposal Planner

 
With regards to weddings, even the proposal has become a big event for some. Become a proposal planner and expect to earn around $300 per proposal.

23) Do Hair and Makeup

 
If you’re skilled at doing hair and makeup, you could start a hobby or full-time business. Bridal makeup typically costs around $100 and the same goes for bridal hair. Bridesmaids typically cost a little less, but you could still expect to make around $500 for one wedding.

24) Become a Hireable Bridesmaid or Groomsman

 
Okay, this is a little crazy but it’s an actual business! People are willing to pay for professional bridesmaids and groomsmen. Why? I don’t really know, but it does exist.

Services might include being there day of, providing emotional support for the bride or groom, and planning the bachelorette party and shower. This article highlights a woman who began her own professional bridesmaid services. She charges up to $1,500 per wedding, plus gets free travel and attire. Not our most highly recommended side hustle, but hey, it exists!

25) Be an In-House Wedding Vendor at Your Place of Worship

 
If you belong to a church or place of worship, there are opportunities to make money by offering your services to the church.

Large places of worship hold many weddings throughout the year, so they need people on staff to help organize them according to their tradition and guidelines. Take on this role and you can earn $100+ for just a few hours of work.

 
As you can see there are a ton of ways to make money on weddings. The wedding industry seems to only continue it’s huge growth, and many services that used to be special or unique have become more or less expected (think of how many pop-up photo booths and videographers you see at weddings these days).

If you want to start a wedding side hustle – or any side hustle – check out DC’s book Hustle Away Debt or some of these side hustle blog posts:

 
 
Have you ever tried any of these methods to make money off of weddings? If not, do you have a side hustle? What would you do to earn extra money on the side if you had to choose?