By Virginia Cooper
Getting married is exciting. You cannot wait to express your love in front of friends and family. It's a moment that should be perfect, full of joy and promise. Still, weddings can be expensive.
They're even more costly when they happen in exotic, far-flung locales. Despite the additional costs, XO Group states that a quarter of all nuptials are destination weddings. Who can blame such lovebirds? Nothing compares with the grandeur of getting hitched against a romantic backdrop. Imagine the rush of sharing your devotion on a Hawaiian island or in Paris alongside the Eiffel Tower.
It's worth working harder to pay for such an experience. Here are some additional money-making strategies from Live Love Eat Magazine that can help turn fantasy into reality.
Choosing a Side Gig
You're already thinking about everything that goes into your celebration. Start mulling business ideas that relate directly to your matrimonial concerns. By developing a relevant ability, you can simultaneously take care of your own wedding needs and start earning money from helping others.
Take centerpieces. Every marrying couple wants beautiful ones. Designing your own is less expensive than buying retail. If you're already creating them, why not sell the extras online? In all likelihood, other couples could also use what you're making. If you enjoy building table decorations, continue down this path. Get creative and expand your inventory. Then, get serious about selling your wares on the web.
Wedding planners have the potential to be extremely helpful. You'll save money if you elect to do everything independently. Once you've absorbed enough about what goes into arranging an unforgettable ceremony, become a wedding planner yourself and help other brides and grooms. Learn the business by taking online courses, and ask the person who helped you to be a mentor.
Whatever way you choose to make money, make sure it matches your skillset. The better the fit, the more successful you're likely to be.
Forming a Business
Ultimately, you might want to turn your temporary venture into an official business. There are tax advantages to incorporating companies, including business and social security deductions. You have numerous legal structures (i.e., LLC, corporation, partnership, etc.) to choose from, each with differing benefits. Before filing, check the laws and fee requirements as they apply in your state. Also, verify that the name you want for your entity is still available.
Utilizing Accounting Software
Many small business owners feel that they can save money by managing their finances themselves. However, this is often not the case. Without proper training, it can be difficult to keep track of all the different aspects of accounting, such as invoicing, tax compliance, and financial reporting. This is where implementing accounting software comes in. More specifically, cloud accounting software gives business owners the ability to manage their finances in a simple, efficient way. In addition, it can provide valuable insights into where money is being spent and help to identify areas where cost savings can be made.
The more patrons your side hustle has, the more lucrative it will be. There are plenty of methods you can use to attract customers. Asking satisfied buyers for referrals is wise. Plundering your network for potential leads also comes recommended.
At some point, your immediate contacts will run out. Casting a wider net becomes necessary. Create an eye-catching and effective website. Design Shack points out that Internet page design is something you can master on your own. If you enjoy bringing your site to fruition, web building is another freelance avenue you can try.
Use social media to your advantage. Create a stream of appealing content, and address commenters directly. You can also market your business on Facebook. With time-tested strategies, paying customers should start coming your way.
It's thrilling to get hitched, although the cost is oftentimes a hurdle. Thankfully, there are pathways for fattening your wallet that make the financial aspect of the big day less worrying. Explore tactics for earning money, form your business, invest in accounting software, and market your products and services. Do this right, and your special moment can live up to your wildest desires.
Virginia Cooper is a retired community college instructor. She always encouraged her students to see the real-world value in their education, and now, she wants to spread that message as wide as possible. Her hope is that Learn a Living will be a go-to resource for adult learners embarking on starting, continuing, or finishing their education.