This post made possible by Jessica Foreman
We all have big days in our lives, but sometimes these events all seem to come at once and can come with a huge price tag. Whether it is your wedding, birthday, or even a trip of a lifetime with your mates then you will need to have some savings put away for these big occasions.
While you can’t always anticipate an event happening (such as your offspring suddenly announcing they’re getting married), you can prepare yourself for any occasion on the horizon whether it is planned or not. So, how do you save money for those special moments? Here are some of our tips:
Invest your money – If you are planning long-term for a big life event such as a fiftieth birthday or a wedding, then you could try to invest your money into different stocks or shares. For ideas and advice on where to get started with investing your money in the markets, visit IG for top tips and information. You can even open a trial account to demo it for free.
Set a budget – Big parties and celebrations don’t come cheaply, so it helps if you know how to be strict with your spending. First things first; you need to decide how much money you want to spend for this celebration and then stick with it. It is always useful to think about the essentials. Consider the venue or accommodation for the event, for example, rather than desirables like a horse and carriage, pink Cadillac or karaoke machine. The more ou save on the optional extras, the more you can add to your event.
Consider your current finances – Look carefully at your current spending and bank accounts. It will be important for you to know exactly what you have and how much money you can afford to save each month from your income so you don’t cause unnecessary stress on your finances. Work out all your bills and expenses that can’t be changed and then see if there are any areas where you can cut down. It is worth trying to switch your electricity, gas, water or broadband providers to reduce your bills. Once you’ve done that, you will be able to consider how much you can put aside each month.
Money makes more money – You could put every last dollar away in a piggy bank or in your sock drawer but that isn’t going to make you any extra cash. Visit the banks to find out different saving options they can give you and what the best offer is for you and your money. There will be a few factors that you’ll need to consider when choosing a savings account. Can you take out your money straight away? How quickly will your money increase in value? What rewards will you get? You may as well select a savings account where you can earn money for nothing, so don’t be afraid to shop around.
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