If your wedding is coming up, you are probably focused on the big day. In addition, when you finish celebrating, it will be time to focus on your new life together. You might also want to start thinking about your money as a couple. There is no one-size-fits-all advice for saving money during this period. However, some common money saving tips could help newlyweds make the most of their finances.
Get Some Cash Back on Your Honeymoon!
One of the best ways to save money on your honeymoon is using cash back rewards. You can get money back for just about anything you may purchase, such as flights, hotels, rental cars, and more.
A cash back reward gives you a percentage of the amount spent when you use your card or app to make a purchase. You can apply that percentage toward future travel expenses or get it in cash at the end of each billing cycle. If you go on an extended trip abroad or even just to a different city for two weeks or more, this might be an excellent way to cut costs while still enjoying yourself!
Keep an Eye Out for Savings
Another one of the best money saving tips is to be on the lookout for sales and discounts. This is easier than it sounds! When you are out grocery shopping, look closely at what you buy. Is there an item that is on sale? Does it have a coupon attached? Are there coupons in the Sunday paper this week?
Does your favorite store offer freebies to sign up for their email lists or follow them on social media? If so, take advantage of these deals and get a few dollars off now. Do not forget about other ways to save: coupons sent via snail mail (yes, they still exist!) and hot deals are also great ways to save some cash without even thinking too hard about it!
Get to Know a Good CPA
A good Certified Public Accountant (CPA) can help you keep more of your money where it belongs: in your pocket! A CPA prepares your taxes, advises you on financial planning, and more.
While hiring a CPA may cost you a bit of money, it is well worth it in the long run. Having someone on your side who knows the ins and outs of the financial world saves you a lot of money (and stress) down the road.
Start an Emergency Fund
Starting an emergency fund is one of the best things to do for your financial future. This is a savings account that you only use in the case of, well, an emergency.
Your emergency fund should have enough money to cover at least three to six months of living expenses. This way, if one of you loses your job or gets sick, you will not have to worry about how you will make ends meet.
Building up an emergency fund can take time, but it is worth it. Every little bit you save helps!
Think About Your Future
When you first start out, it is easy to get caught up in the here and now. However, it is essential to think about your long-term financial goals, too. As a married couple, you want to start thinking about things like buying a house, saving for retirement, and more.
You do not need all the answers right now, but it is never too early to start thinking about your financial future. The sooner you start planning and implementing the above money saving tips, the better off you will be down the road.
