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SmartyPig Blog
The SmartyPig Blog
August 28, 2009 • Posted by Samantha RobinsonRing That Wedding Bell
Memo to all the lovebirds out there thinking of getting hitched: save hard, save long and save often. Yes, despite the economic doom and gloom of the past year where we’ve all tightened our belts in every aspect of life, when it comes to weddings, it seems all bets are off. Let nothing stand in the way of a loved up couple and their dream day.
There’s new research out that says the average Australian couple spends a smidge under $32,000 on the big day. Yep, that’s 32 grand just for one day. And although some of the more extravagant extras are falling by the wayside (anyone order a pumpkin-style coach?), weddings are still big business. As anyone who’s ever been involved in planning a wedding will tell you, mention the “W” word 'at a venue/florist/photographer etc, and the chances are your costs will skyrocket. Hardly a surprise then to hear that the wedding industry continues to defy global economic trends and last year turned over a staggering $3.9 billion. That’s a lot of white doves, bridal trains, canapés and stretch Hummers.
So if you’ve just popped (or answered!) the question and are now caught up in the excitement of planning your nuptials, unless you are one of the lucky old-fashioned ones whose dad has exceedingly deep pockets, it’s probably time to really get your savings into gear.
- First things first, set up some SmartyPig goals. If you think your costs are going to run anywhere near $32,000, probably a good idea to start your saving now. Just for a little cold dash of reality, if you’re starting from scratch and have got just 12 months until the happy day, you’ll need to be putting aside somewhere in the vicinity of $2,500 every month. Ouch.
- Tell your families about your goal – you never know, if they’re feeling particularly generous, they may wish to make a contribution.
- Revisit your wedding wish list and take a look at our great tips on how to save money on your wedding . You might be surprised how a little clever thinking and planning can save you heaps.
- Get reading to be inspired and get an idea as to costs – both where you want to splurge and where you want to save. We love Polkadot Bride and Real Weddings as a couple of great places to start!
Finally, if all else fails and the savings mountain just seems too high to climb, don’t despair because there are always alternatives. You could forgo the public extravaganza and opt for a more personal affair instead – just you, your partner and a Minister called Elvis. All it takes is around $1000 per person to fly to Vegas and you could get hitched for as little as $200. Bargain. It may not make your mum happy but it would make one heck of a story to tell the grand-kids (and Elvis songs will forever more have a special meaning for you both).
Until next time
Team SmartyPig.
Outrageous Inspiration for SmartyPig Goals!
Ever wondered what your goal would be if money was no object? This week, we thought we’d dream a little and seek some inspiration by checking out some outrageous ideas for those who aren’t short of a coin. So what if could go right out on a limb and set a goal to save for something completely, totally, undeniably indulgent? Well start dreaming punters, we’ve done the hard work for you and come up with an list of decadent delights to really get the heart racing, the palms sweating and maybe even prick a social conscience or two. Because as we all know, it is ultimately better to give than to receive.
To kick things off on a nice shiny note, let’s start with diamonds. If you’re saving for that perfect engagement ring well we bring good news! You can pick up a nice little 18 carat sparkler at Tiffany for just $6 million (and that’s US dollars!) But would you be game enough to actually wear it in public?
Travel more your style? Why not give Emirates First Class a go? At around $16,000 for a quick return trip from Melbourne to Dubai, it’s got to be worth it…doesn’t it? And while you’re in Dubai, maybe you’d like a night in the world’s most expensive hotel, the 7-star Burj Al Arab hotel in Dubai? At up to $30,000 per night, you’d best start saving now. If you’re keen to stay a little closer to home, the “Tom & Katie” suite at Crown Towers in Melbourne could be just the venue. We just hope Mr Packer counts you as a close friend otherwise you’ll be up for $27,500 per night.
If you’re a little over “conventional” air travel as a means of reaching your destination, we’ve found a couple of options for you. You could book for the journey of a lifetime on board Virgin Galactic but at a cost of $200,000, we hope the in-flight service is worth it. For a trip that’s a little shorter and easier on the hip pocket, Jet Fighter Adventure Flights will take you up, up and away in an ex-military fighter aircraft for a 30 minute “dog fight” and all for just $3600 per person. Your only dilemma will be what call sign to use…will it be Maverick or Iceman?
There other alternatives to blowing your hard-saved cash on a frivolous adventure or purchase. So why not set a goal that puts your money and your heart to good use.
For a very modest $400 donation to the Australian Red Cross, you could provide breakfast to a disadvantaged Australian child for a year. Maybe gorgeous puppies are your weakness? If so, $30 000 will train and care for a dog at Seeing Eye Dogs Australia and give a vision impaired person the gift of independence. And if $30,000 is a bit over your budget, you could always sponsor a puppy from a tiny $15 per month. Finally, for the gift that really does keep on giving, World Vision can provide a community with water and sanitation for $89,000.
Whatever your goal might be, if you put your mind to it and get SmartyPig on the job, the world really can be your oyster. Sweet dreams!
For daily inspiration, follow us on Twitter – www.twitter.com/smartypigau. Each day (and sometimes more than once) we tweet a new thing you might consider doing, seeing, hearing, tasting, experiencing, etc. to sew the seeds in your mind for a new goal!
Team SmartyPig
August Giftcard Giveaway – Results Are In!
Thanks to all who entered the giftcard giveaway by successfully answering the question: How much does it cost to open a SmartyPig account? The answer of course, is NOTHING! Opening a SmartyPig account is absolutely free!
View the results of the draw here:
A special RIP to our mic cord that was lost down the elevator shaft during the filming of this draw 
The three winners are (in case you can’t see the video):
GoldenGoose8
Catebolt
Housebricks
Didn’t win? Better luck next month! We’ll be doing it again then, so stay tuned!
Team SmartyPig
Thanks For All The Love
This is just a quick post, to thank our fellow bloggers and cyber-neighbours for taking the time to review our site and provide feedback and link love.
You can see some of the posts here:
http://www.polkadotbride.com/wp/index.php/2009/08/01/smart-saving-with-smartypig/
http://realweddingsblog.blogspot.com/2009/08/smart-savings.html
http://taniamccartney.blogspot.com/2009/08/win-smartypig-gift-card-valued-at-100.html
We also wrote a guest post recently for Credit Card Finder. If you didn’t catch it earlier, admire it now:
http://www.creditcardfinder.com.au/pay-now-buy-later-smartypig.html
Thanks all, we genuinely appreciate it 
Team SmartyPig
Drive Away, No More to Pay
Here’s a quick question for you: how would you pay for a new car? A loan from family? Finance from a bank? Or would you save up your money and pay for it in cash? Saving enough money to purchase a new car can appear a near impossible task. But regardless as to whether you’re in the market for a secondhand run-about to get you from A to B, or you’re dreaming of the world’s most expensive car, the principles are the same: set a realistic budget; do your research; and start saving!
If you’re a first time car buyer there are a few other things to consider as there’s a lot more to buying a car than just the dollar price of the car itself. There’s stamp duty, registration and insurance (this can all add up!). And don’t forget the running and maintenance costs of your car. How much does it cost to fill the tank with petrol? How expensive will regular service visits be? What about replacement parts – do they have to be shipped in from overseas? Costs will vary from car to car, but it’s a good idea to factor them into your budget now.
Now that you’ve worked out your budget, it’s time to do you research. To help you out, here’s a great checklist for potential car buyers.
Next it’s onto the savings part of the plan. Setting saving goals for the things you want in life – like a new car – gives you a solid base for your future. You may not get the instant gratification of buying now, but at least you’ll be using your own cash (that’s been earning you interest whilst you work toward your goal) and not money borrowed that becomes a liability. So when it’s all said and done, what are you waiting for? All you need to do is tell us how much you want to save and by when, and SmartyPig will do the rest. Then every month, on a day of your choice, SmartyPig will deduct the desired amount from your nominated transaction account and add it to your goal.
We’ve also got the social aspect covered too. Just make your goal public by adding your personalised SmartyPig widget to your Facebook or MySpace page, blog or website and your friends and family can chip in to help out. Before you know it, you’ll be one step closer to that new set of wheels without getting off track.
So it’s easy, really. Think about your purchase. Save before spending. Have cash in hand when you buy. Then drive away, no more to pay.
Enjoy the ride!
Team SmartyPig.
On Track And On Target For Christmas
All this talk in the team about Christmas has got us thinking. We know it’s supposed to be the thought that counts, but why do we always end up with at least one gift that’s destined for the cupboard, the garage or eBay? Especially at Christmas, have we lost the art of giving?
Apparently we have. According to a survey conduct in December 2008, nearly 72 per cent of people regularly receive a Christmas gift they don’t like. You’re not kidding. We did a quick Google search on the topic of “Worst Christmas Presents 2008″ and found over one million pages, and that’s just for last year! It seems that the proof is well and truly there that careless gift giving has become a common trend. So given times are tough for so many, we should probably start thinking before we purchase to ensure that every one of our precious gift giving dollars count and that the recipient doesn’t add the gift to the “Worst Christmas Presents” list for 2009.
Here’s a tip. Don’t leave your present buying until the week before Christmas. (And if you’ve ever worked in retail, you’ll be familiar with those people who come in 5 mins before closing time on Christmas eve attempting to shop). Limited time increases the pressure to buy and before you know it, you’re running through your Christmas list (and probably racking up your hard earned dollars) faster than a Master Chef in the pantry. Like any goal you set in life, a little research and planning in advance can prove invaluable in the long run. Yes, it’s only August but why not start making those Christmas lists now? Or really impress your friends and family and try making your gifts instead. It’s a bold ambition but one that would definitely earn big brownie points on Christmas morning. But a word of advice: if think you might need lessons on how to actually create that perfect gift, best sign up for a short course at your local TAFE or Adult Education Centre now.
We’ve thought of another option for you too. If a member of your inner sanctum is saving for something special and they’re already a SmartyPig convert, why not bypass the present process entirely and contribute the amount you had planned to spend to their savings goal? Or if they’re not already signed up but do have grand savings plans for the future, give them a SmartyPig Gift Card to get them started. No stress, crowds or pushy sales assistants to deal with. Easy.
Christmas really is just around the corner so we should all take a little advice from the Scouts and 'be prepared’. What are you waiting for?
Finally, a thought to send you on your way. Christmas in summer does have its pros and cons. But this year, we should all rejoice in the fact that a summer festive season might save us from the horror of unwrapping a Snuggie on Christmas morn. See, there really is someone smiling down upon us from up above.
Team SmartyPig
ps. A little passive-aggressive note for the mother of one of our team members: gifts are about the recipient, not the giver. If you’re going to ask what the receiver wants, don’t claim it’s “too boring” and buy pot plants instead…
Now’s The Time To Make Christmas A Breeze
We hate to be the ones to break it to you but there are only 143 days until Christmas. Yep, that’s right, the spending extravaganza that is the festive season is literally around the corner. Granted, it’s a big corner but we do have our reasons for ringing the yuletide bell, and it’s not an over-indulgence in Great Aunt Beryl’s punch. We reckon now’s a great time to buck the trend, be prepared and set your Christmas savings goals. Hey, the earlier you start, the less you need to put aside each payday!
Firstly, there’s nothing like a good statistic to set the scene. According to the Australian Retailers Association, retail sales in December 2008 reached a staggering $36.95 billion. And as much as we’d like to have faith that the average punter took the sensible approach by setting a budget and shopping with cash, the reality is that many were probably guilty of relying on credit or at least stretching themselves very thin, then waking up in January with the mother-of-all financial hangovers. Oh the memories. So maybe it’s time to learn from the Pig of Christmas’ past and start planning for the future.
A few things to ponder before you begin. Who’s on your Christmas list and what’s your budget? If you find your gift-giving habit is causing you financial grief it’s easy to take some pre-emptive measures now.
- Cull your list (it’s just a suggestion!).
- Embrace the office ritual of Kris Kringle amongst family and friends. Who needs all those presents anyway?
- Consider going DIY and cut your costs by making gifts – you have a good few months to master your nan’s jam recipe after all.
Of course, we’ve saved the best suggestion until last – once you’ve worked out your budget, why not set up a Christmas goal with SmartyPig? Just to get you thinking, if you save $25 per week for the next 20 weeks, you’ll end up with 500 bucks in your Christmas kitty and that’s without including the interest we pay on top of your savings. Or choose to take your savings in a gift card from one of our Best-in-Class Retail Partners and you’ll receive another 4-8%* on top! Imagine the joy, happiness and, let’s face it, the total relief you’d feel if you didn’t have to worry about money at Christmas, or need to spend the new year paying it off.
While you’re there, consider putting a little something aside for yourself, too. After all, boxing day sales are the hair of the Christmas dog!
So follow the SmartyPig road and come December, Christmas really will feel like, well, Christmas.
Team SmartyPig
*Extra percentage is distributed as added value on the gift card with the retail partner of your choice. Actual percentage varies between retailers. Please visit the 'stop goal’ page within your SmartyPig account to see the actual percentage given for each retailer.
