The Our Love is Priceless saving challenge is an effective way to save for that special day and ensure you have your dream wedding. Unfortunately, weddings are expensive from the rings to the venue, to the dress, food, flowers, and entertainment.
Did you know the average wedding costs $33,900 and 45% of newlyweds go into debt to pay for their wedding? By joining Our Love is Priceless you’ll work towards that special day and avoid the cost haunting you for years to come.
What is the Our Love is Priceless saving challenge?
Our Love is Priceless is a 6-month savings challenge with a weekly check-in. Each week you set aside a set amount of money towards your dream celebration. You can complete this challenge solo but it works best when done with your partner.
Set a goal for the total amount needed for your dream celebration, then Ostrich will determine the weekly amount each of you need to contribute to achieve your goal!
When the big day finally arrives you want to be focused on your love, rather than the amount you spent on that perfect cake.
Be like the 55% of newlyweds who DON’T go into debt because of their wedding.
Focus on your love and not the money.
When is the best time to start?
The short answer is to start well before the wedding. If you are in a serious relationship or are dreaming of a big wedding, it’s best to get started early. You can begin the Our Love is Priceless challenge solo and invite your partner to join after the engagement. The law of compounding interest will make saving early help you get to your savings goal faster.
Who is this for:
This couples saving challenge is perfect for those who don’t want to dig themselves into a financial hole. It’s also a great solo challenge for when you are preparing to pop the question and need to save for that perfect engagement ring. One of the leading causes of divorce is finances. By working together towards your dream wedding, you’ll build financial trust and communication skills that will serve you in sickness and in health.
Are you ready to have your dream wedding without going into mountains of debt? You can sign-up for Our Love is Priceless on the Ostrich app.
How to implement the Our Love is Priceless couples savings challenge
Step 1: Figure out how much money you would like to save and by what date.
Step 2: Set up a separate savings account or place to keep your money.
Psychologically it’s important to make this a separate account. It’ll make it easier to keep track of how you’re doing for this specific, likely significant goal.
BONUS: Open a high-yield savings account to earn the most interest on your savings!
Step 3: Automate your weekly savings if possible. Login to your online banking and setup a recurring weekly transfer from your checking account to Our Love Is Priceless Savings account.
Step 4: Record your weekly progress in Ostrich by checking in for this challenge and keep track of what works for you!
Benefits
- Less stress! Your wedding day is meant to be a celebration of love and one of the happiest days of your life. Knowing you can confidently afford your wedding and you aren’t sacrificing your long-term financial future is a big stress reliever.
- Trust! While working with your partner to save for your special day, you’ll learn to trust one another financially. One of the leading causes of divorce and stress on a marriage is finances. Early on you’ll learn how to communicate and work together to achieve your financial goals as a couple.
- Momentum! Once you’ve learned to save for a common goal together, you can continue the momentum towards other life goals such as buying your dream home, traveling the world together, or saving for kiddos.
Tools to get to your dream wedding faster
High-Yield Savings Account: Open up a separate high-yield savings account in order to earn the most interest on your wedding savings. You can add your partner as an authorized user on your newly created savings account and contribute together as a couple. Here is a list of the top high-yield savings accounts we recommend.
Automate: Log into your checking account and create an automatic weekly transfer to your new Our Love Is Priceless savings account. This will make your life a lot easier and you can always adjust your automated transfers whenever you’d like.
If you want a dedicated couples account explore using Twine which allows you to save easily with a partner and automate the experience.
Related savings challenges to Our Love is Priceless include: 52 Week Money, Penny Savings, Acquire Then Retire, and Drop It Like It’s Hot.
Tips for finding more money to save
Here are some money saving tips to help you succeed!
- Pay yourself first! Whether you have a defined budget or not, the key to hitting your savings targets is to pay yourself first. Immediately, when you get income set aside money towards Our Love is Priceless.
- Sell your old things. You probably have some things you either bought and never use or only lightly used. Whether it’s that new outfit that looked great online but not so much in person or old electronics you don’t use anymore. Hop on Facebook Marketplace, Ebay or Amazon and list those suckers.
- Cut out expenses. This is one of the simplest ways to increase your savings but it isn’t always easy. Find unused subscriptions to cancel or things you can live without leading up to your big wedding day. You can join a no spending challenge on Ostrich if you want to cut back with others.
Conclusion
Weddings are expensive, averaging $33,900 in the United States, and unfortunately, 45% of couples go into debt funding them. With the Our Love is Priceless couples savings challenge you and your partner can have both your dream wedding and avoid a pile of debt. You can start the challenge solo, but when couples work together towards their financial goals, they build trust that serves them long past their wedding date. The key is taking action! You can sign up for this weekly couples savings challenge on Ostrich.
