Weddings can be pricey and lavish affairs, and if you’re looking for how to pay for the big day, a side gig may be just the ticket. Of course, there’s not just the cost of a wedding to consider, but the planning and organizing — financial and otherwise — that comes along with it. The following article can help take away some of the workload by providing expert insights and resources to make your dream day a reality.
How to Pay for Your Wedding Via Gig Work
Key Wedding Needs
The average wedding costs about $28,000 and includes around 125 guests. This typically includes an event venue and a reception spot including dinner, drinks, and entertainment. There are other costs associated with the wedding including the engagement party, rehearsal dinner, bachelor and bachelorette parties, bridal showers, and post-wedding brunch. There’s also the matter of wedding clothing, gifts for bridal party members, photography, music, invitations, and flowers and cake. If you’re planning a honeymoon, you’ll want to factor in those costs into your finances separately when you begin discussing how you’ll pay for your wedding.
What Do You Need?
If you’re taking on a side gig specifically to help pay for your wedding, you want to sit down and create a budget that suits your finances. Not only will this help you with wedding planning, but it will also give you a better idea of how much work you need to do in your side gig to earn the funds necessary for your big event. A consulting session with Weddings From The Heart will help you get an idea of average costs, as well as insights into “must-have” versus “not necessary” expenditures for your wedding.
Wedding Necessities
While you can certainly go as big or as small as you want with a wedding, there are a couple of expenses that should probably go in your “necessity” column. When planning how to pay for your wedding, make sure you leave some room for a wedding planner or wedding coordinator who can help take a lot of the stress of planning and organizing off your plate. A wedding planner will likely give you an overview of how best to invest your earmarked wedding funds based on your priorities, things that are important to you, your budget, and your timeline. They’re also well-versed in what you don’t need to spend money on and still have a fabulous event.
Getting Your Gig On
Once you know what you need to earn to keep your finances in check, take stock of what your schedule allows. Are you already working full-time or going to school? The next thing you want to do is find something that’s flexible around your schedule. This might include a gig like driving rideshare, delivering food, grocery shopping for others, or taking on freelance or independent contractor work that’s connected to your education or your existing profession. This might include anything from freelance writing to accounting or consulting. Look into the market and see what types of work are currently available that match your skill sets. Whatever you can get will go a long way toward helping you pay for your wedding.
Make Your Business Official
As a gig worker, you’re considered an independent contractor, and as such, you’ll need to keep careful records and ensure you’re paying appropriate business taxes on your earnings. It could be beneficial to start an LLC, or limited liability company, for your business. An LLC has several benefits including limited liability, tax advantages, reduced paperwork, and a greater degree of flexibility. All states have rules around LLC formation, so you’ll want to learn about yours in advance. You can do this yourself, hire an attorney, or your best bet, use a formation service.
When it comes to putting together and paying for a wedding, having a wedding planner in your corner can help take away a great deal of anxiety that can come with coordinating such a large event. This is critical if you are working or going to school and can use the extra set of hands. Wedding planners usually have great referrals to discounted services, so they can very well make up for the investment in their time.
Author Bio:
Amos Faulkner wants to help people “do money well.” Money is a constant in our lives. Yet, as a bank teller, Amos realized that many people don’t pay enough attention to how much they have or how much they need, now and in the future. Well, now, the buck stops with his site, domoneywell.com. From teaching your children how to manage their money to saving for your golden years, Amos will cover it all.
