Planning for your wedding day can be stressful, especially if you don’t have the right financial tools. While you want to have an ideal wedding, you don’t want to end up in a stressful financial situation.
Read on to learn how to pay for a wedding and how to start saving fast.
The average American spends $2,913 per year on entertainment and $3,154 eating out. If you reduce your spending in these areas, you can leave room for a bigger wedding budget.
Here are some ways you can cut back to save for your big day:
Generating a little cash on top of your normal income can help you build your wedding savings. Here are a few easy ways to earn extra money.
If you’re still wondering how you will pay for your wedding, consider making some minor changes to your wedding plans.
To put aside money for your wedding, open a high yield savings account today and earn an Annual Percentage Yield (APY).* Additionally, consider an FDIC-insured CD with a term that will end before you need the money for the big day.
Synchrony Bank offers savings accounts that are FDIC-insured up to $250,000, per depositor for each ownership category.
Now that you have a better idea of how to pay for a wedding, Synchrony Bank can assist you with your next financial steps. Open an account today or call 844-345-5789 to learn more about our savings options.
Bureau of Labor Statistics: https://www.bls.gov/news.release/cesan.nr0.htm
The Knot: https://www.theknot.com/content/how-to-pay-for-a-wedding
*All APYs are accurate as of 10/07/2017. APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For High Yield Savings Accounts, the rate may change after the account is opened.
*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of 05/25/2018.
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For Money Market and High Yield Savings Accounts, the rate may change after the account is opened. For CDs, a minimum of $2,000 is required to open a CD and must be deposited in a single transaction. A penalty may be imposed for early withdrawals. After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time. The APY shown for CDs and IRA CDs is for a 60-month CD with a balance of at least $25,000. Click here for all CD rates and terms offered.