Let Qapital Help You Take The Stress Out of Navigating Your Finances The Wedding Season
Wedding season is here…and it’s expensive! According to a study from The Knot, 80% of all wedding took place between May and October, combine that with findings noting a major recovery boom for weddings in 2022, and you have a wedding season in full effect! With wedding season, (and honeymoon season) comes tons of expenses… not only for the couple, but for their guests. Qapital, an award-winning financial service app, can help take the stress out of navigating your finances this season!
Qapital helps users take the stress out of money management. Using behavioral science and automation, Qapital supercharge users savings, spending and investing efforts, allowing them to seamlessly hit all their money management goals – like saving for a wedding or a honeymoon!
Even better, Qapital newest product, Dream Team, is designed specifically to help couples (or any team) work together to hit shared saving, spending and investing goals. Dream Team allows users to aggregate accounts into a shared dashboard, set up goals, and work together to reach these goals. Plus, there’s in-app communication platforms to remove the stress out of shared money management. One less thing to worry about while planning for your special day!
Katherine Salisbury, co-founder and co-CEO of Qapital, has provided tips below:
- Know what makes you happy – Write down what is important to you and what makes you happy. This will help guide your goals and budget. You’ll be better able to make necessary tradeoffs to reach your goals based on what you really want. At Qapital, we think that financial success isn’t about how much money you have, but rather about your confidence and control over it, and your ability to put it toward the things that bring you happiness.
- Create financial goals – Pinpoint your financial goals–like a honeymoon, down payment for a home or whatever you’re saving for–and track your progress to achieve them. At Qapital, we’re all about automating finances to help you reach your goals.
- Set a spending target – Customize a budget that fits your spending habits and income so you can maintain the quality of life you want while avoiding overspending. At Qapital, we designed Spending Sweet Spot to let you customize a budget that fits your spending habits and income. It will automatically send you notifications that keep you updated throughout the week so you always know how you’re doing. You can adjust your budgeted amount at any time so you have the flexibility to learn and grow with your spending habits. You can also rate how your weekly spending made you feel and use that rating to adjust your weekly spending goal until you find the spending amount that makes you happiest—your own Spending Sweet Spot.
- Save automatically – Set up a direct deposit from your paycheck into your goals to have more control over your finances and build up your savings more easily. With Qapital’s Payday Divvy, you can automatically divide up your paycheck the moment you get paid and set aside the right amount for savings, investing and everyday spending. Plus, you can set up automatic-savings rules to boost your goals–like rounding up to the next $2 or $3 every time you make a purchase and saving the change.
- Make saving fun – Set up challenges for yourself, like making Sunday your meal-prep day or canceling one of your subscriptions, and then add the savings to your goals. At Qapital, in collaboration with our chief behavioral economist Dan Ariely, we created Money Missions–fun challenges that help you unlock helpful insights into how you use your money now so you can use it better in the future. In that sense, Missions are not about success or failure, but about helping you learn more about what matters to you.
- Have debt strategy – Make sure you are optimizing your debt-payment strategy. Tools like refinancing and loan consolidation may help you pay off your loans faster, freeing up more money to save. With Qapital’s Student Debt Freedom, you can manage, pay and refinance your student loans in one place. And, we have more debt-management tools on the way.
- Save with your partner – Keep each other motivated to reach your shared goals–and achieve them faster.With Qapital Dream Team™, you and your partner can share financial goals, balances and other account info to help you communicate better about finances and reach your goals faster together.
- Make the most of tax-advantaged retirement accounts – Try to contribute the max to your 401(k) via payroll deductions and to an IRA to maximize your retirement savings and tax advantages.At Qapital, we will soon offer Traditional and Roth IRAs and help you choose the one that’s right for you.
- Build a cushion – Stash some cash for unexpected events–experts recommend at least 3-6 months worth of expenses.At Qapital, you can set up an emergency fund goal to build and maintain your cushion.