A smart way to fund a dream wedding
It may be the best day of your life – and the most expensive. Here’s how to save for it.
Summer’s on the way. For some it’s an exciting time as wedding season kicks off. For others it’s a time to dream.
If you’re planning to tie the knot in a few years, it’s a timely reminder to get saving now to afford your dream wedding.
Maybe you’re going super-traditional. Maybe it’s your second time around and you want the big wedding you never had. Or maybe you’re planning a Game of Thrones-themed wedding, with faux fur capes and a dire wolf as a ring bearer.
No matter how you picture your wedding day, one thing’s for sure: you need to start saving now.
But what’s the best way to fund a wedding?
Here’s an idea to consider – a managed fund.
Smart investing for your wedding
The cost of the average Kiwi wedding is reported to have reached a whopping $35,000.
And the bill’s likely to be even higher in some communities. With at least 300-500 guests, the typical New Zealand Indian wedding is said to cost up to $100,000.
Whether you’re saving for your own wedding or keen to help friends or family enjoy theirs, wedding costs can quickly skyrocket – especially if you don’t plan.
Another savvy option is to open a managed fund especially for your wedding. In a managed fund, your money is pooled with other investors’ money and spread across a range of investments.
Why choose a managed fund?
Open a Kiwi Wealth Managed Fund for your wedding and you’ll be able to:1 Start by investing as little as $500
- 2 Make regular contributions from just $50
- 3 Withdraw money when you need it, without any penalties, to pay for wedding expenses whenever they arise
- 4 Gain potentially higher returns than a term deposit or savings account, provided you’re prepared for a higher degree of risk
- 5 Choose the type of fund that best suits the time you have to save for your wedding and your attitude to risk.
- Your wedding day – and beyond
Not everyone wants a big wedding. Many couples skip the ceremony and spend their money on a dream honeymoon instead.
And while Kiwi Wealth’s Managed Funds can be a good option to invest towards weddings, they can also be used to help you invest towards that dream holiday or reach any other life goal.
You could set up a managed fund to help invest towards:
- 1 a first home or investment property
- 2 a new baby
- 3 further education
- 4 a new car
- 5 anything else on your bucket list!
And the best thing about Kiwi Wealth’s Managed Funds is you can have a range of separate accounts for as many goals as you want. So, start dreaming and saving now!