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There are certain events that happen in your life that are worth saving for. The best way to deal with such events is by putting a bit of money aside each month to help spread the cost. By doing it this way it’s not such a shock to the system or your wallet.
So the question is what family occasions are worth saving for?
This is the big one. In 2014 the average cost of a wedding was £20,983! If you ask me that is a monstrous amount to spend on what is essentially just a big party. When we, eventually, get around to getting married I’m going to make it my sole mission to not spend more than £5,000. That is total costs, including venue, dress,entertainment, food and everything else involved in weddings. Do you think that I’ll manage it? I’m certainly going to have fun attempting it.
These are the ‘big’ birthdays. It’s always nice to celebrate a new chapter in your life, however if you want to invite lots of friends and family then the costs can soon add up. It’s my 30th this year and we are having a big party but we are being very careful not to get too carried away with it all.
Saving for holidays is another big expense that most families encounter. We’ve found the best way to book holidays is through one of the many discount holiday sites out there. Once you’ve book the holiday at a discounted rate you can then spend the months leading up to the holiday saving for your spending money while your away.
Every year we say that we will put aside a little bit each month towards Christmas and every year we forget to do it. Come November we have a mad panic and end up spending all our cash in one go. This is not the best way to handle this! I know a lot of people that have a separate savings account specially dedicated to Christmas savings. They put in an amount of cash each month and come December they have a nice chunk to spend on gifts and food.
What occasions do you think are worth investing for?
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