How I Funded a Debt-Free Wedding and Honeymoon - Finances Demystified Blog

How I Funded a Debt-Free Wedding and Honeymoon

Weddings are expensive! I just got married and experienced first-hand the immense cost associated with putting one on!

After all, weddings are a 55 billion dollar industry just in the United States. Every aspect costs so much money, and so often couples don’t want to cut corners or spare expenses. 

I found a staggering statistic, 28% of US couples go into debt to pay for their wedding! To me, starting a marriage and a life together shouldn’t also have the burden of debt or be overshadowed by financial stress. 

On 10/10/2020 my new husband, Dion, and I tied the knot! Not only did we get married, but we paid for the entire wedding and honeymoon by ourselves with funds we had earned through investing. 

Debt-free wedding and honeymoon

That means it didn’t take us using credit cards, loans, or years of saving to fund our wedding, just some conscious investing! 

I don’t want anyone to feel like they have to choose between their dream wedding and debt. I encourage you to keep reading and consider investing to fund your dream day! 

Make Money When Stocks Go Up and Down 

One misconception that many people have about the stock market is that when it’s up, you’re making money and when it’s down you are losing money. This mindset causes people to believe that the stock market is too risky for their financial efforts. 

I’m here to tell you though that when managed properly, you can make money when the stock market is up or down! That way you are ALWAYS making money, no matter what’s happening in the market. 

What do I do when the market starts to drop? 

I BUY, BUY, BUY! 

That way you are taking advantage of lower prices to acquire more shares for less money. By using our stock portfolios to make money when the market is both up and down, we were able to ensure we were generating profits to fund our big day! 

Invest What You Can 

One of the best things you can do to fund a major life cost, like a wedding, honeymoon, down payment on a home, retirement, college, etc is to start ASAP investing what you can, even if it’s only a few dollars at a time. In reality, You only need $5 to get started investing today.

I’m a big fan of the platform, Acorns. It’s a great platform because not only does it give you the ability to invest and make your money work for you, but it takes your everyday purchases and rounds up…so you can effortlessly invest your spare change! 

Investing should never be a “when I have enough money” decision. I encourage everyone and anyone to start small, start early, and invest what you can. 

Spare change, a few dollars, all of that adds up and when you partner your spare change with stock market growth, you too can fund a dream wedding or honeymoon with investment profits. 

 Get started investing with Acorns using this link and you’ll get a free gift during registration

Consider Dividend-Paying Stocks 

One way in which we can generate income to pay for our wedding was through the dividend stocks that we own. 

Dividend-paying stocks are stocks that pay out a portion of the profits to stockholders, depending on how much the dividends are and how much stock you own, this can be a little spare change or a good chunk of money. What is important though is that you are getting PAID just by owning these stocks. 

I diversify and ensure I have some dividend-paying stocks in my portfolio that are generating money I can reinvest or pull out to pay for a big expense – like a honeymoon! 

Lifestyle Design 

Lifestyle design is all about prioritizing what’s important to you and setting goals that help you achieve the dreams you’ve selected. It’s about life being more than working to pay bills. It’s about living the life you want and recognizing how to do that. 

A big part of why we could fund our wedding and honeymoon was because we made it a priority. We chose to put money towards this experience and to do that, we had to set a budget for the wedding. Once the budget was set, we set a goal to make the money we needed to have a wedding of our dreams by investing and trading! 

Debt-free wedding and honeymoon

Whether your dream is a wedding, an exotic honeymoon, a down payment on a home, or retiring early, you have to factor in all your spending decisions. Every penny you spend either moves you one step closer or one step further from those goals. 

Fund Your Dreams!

Explore investing and how you can use it to fund your dreams and goals in my free investing masterclass. 

 

Happy Investing, 

Dominique Broadway

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