Bachelorette parties are now common, usually held on weekends before weddings.
The bride, her friends, or family can organize these gatherings, with 74% of brides opting for one.
These parties are a chance for bonding and saying goodbye to the single life, often with free drinks.
However, dealing with group finances for travel, food, and activities can be a headache.
Discover a helpful solution: Consider using Venmo, even if you already have a personal Venmo account.
Learn how to make a second Venmo account specifically for the bridal party to simplify splitting costs.
Read our article for a step-by-step guide on streamlining your financial planning for the perfect bachelorette celebration!
- Bachelorette parties are common pre-wedding celebrations for brides to bond with friends and family.
- Managing group finances for bachelorette travel and activities can be difficult.
- Creating a separate Venmo account just for the bachelorette party simplifies splitting costs.
- The article provides tips on setting up a bachelorette Venmo account, funding it, managing it effectively, and using it to pay vendors.
Why Have a Venmo for Your Bachelorette Party?
Having a second account for a bachelorette party can serve various purposes, and individuals may choose to do so for reasons related to organization, privacy, and ease of financial management.
Here are some potential reasons:
It keeps bachelorette finances from your own
Having the bachelorette together with one’s finances comes with two risks.
First, you might use the party money once you deplete your own without knowing. You will have a debt, which is not a sweet experience.
Secondly, you might spend the party money to depletion then spend your own without knowing.
The unfair thing if this happens is that you are not likely to be refunded. Therefore, Venmo acts as a separate joint account for the group, saving you from such unnecessary drama.
It utilizes bank-grade encryption
All your transactions and personal account details are kept private with your Venmo account.
This assures you the security of the group finances. It also keeps your details like name, mobile number, bank account, and financial information private.
It is very simple to use
Venmo lets you easily track account charges and reimburse group expenses. It is just an app you can explore to get the best out of.
It offers a seamless integration with vendors
With Venmo, you can have a collaborative payment to vendors with a well-tracked transaction history and report.
How to Set up the Bachelorette Venmo Account
The Short Answer: Download the Venmo app and sign up with a new email address and unique phone number from Google Voice to keep your bachelorette account separate.
For an exciting journey into seamless financial planning, here’s a step-by-step guide for setting up your account:
Step 1: Download and install the Venmo app
Venmo can be downloaded using a smartphone like any other mobile phone app. Both Android and iOS accept the Venmo App.
You can have it from the Google Store. After downloading it, go ahead and install the app.
Step 2: Create an email for your group
To sign up for a Venmo account, you need a Gmail account.
Most bachelorette accounts are for short-term purposes, so you need a unique email for it, which you can do away with after the party.
Step 3: Get a free unique phone number through Google Voice
You will also need a phone number to register the Venmo account. Go to Google Voice and select a unique number to use.
Personal numbers are free so that you can go for one.
Step 4: Sign up for Venmo using your new email and number
You must use the phone number and email address on your installed App to sign up.
Once you have filled in the details, you will get a guide on terms and conditions. Read through it; if you are comfortable with the terms, you can accept them.
Step 5: Create a memorable bachelorette handle
A group will use the Bachelorette account. This is why you need to create a memorable Venmo handle for it.
For instance, if the bride is called Joyce, you can have a handle name like “joycebridalbach.” It makes the team feel accepted.
Funding the New Account
In most cases, your squad will fund the Bachelorette Venmo account.
As the account handler, you need to link your preferred bank account to the Venmo account, which will act as a link for withdrawal should there be a need.
You can also visit the money service desk and provide a credit or debit card to load the Venmo account.
Venmo also offers business profiles with tax tools for those coordinating group events regularly, so you can be sure to have smooth transactions.
Managing the Account
Creating a Venmo account for your bachelorette party is just the beginning; effective management is essential.
Regularly monitor money transfers, transactions fees, track expenses, and ensure that contributions are correctly allocated to maintain smooth financial management for the bachelorette festivities.
- Share your unique bachelorette handle. Like most social media accounts, you can share your bachelorette Venmo account with the people who are part of the event and its financing. This will help the team to send their contribution in their comfort without looking for the treasure for this matter. Do this via QR code for easy connections
- Use it for bachelorette party costs only. Ensure that you stick to the purpose of the group. Therefore, you should only use the account for the bachelorette party cost; nothing helps. This will help you to have an organized account.
- Pay vendors directly through Venmo. Direct payment to vendors will reduce the cost of transactions and also help you track the expenses. Do not move the money to a bank account.
- Customize privacy settings. Only to allow connections with your bachelorette group.
Tips for Success
As much as Venmo is simple to use, it can be more satisfying if you enjoy using it effectively. Here are a few tips that you can explore for the best outcome:
- Use a two-factor authentication. A two-factor authentication adds more privacy to the account. In other words, if the account is signed into using a new device, it sends a code to the phone number linked to the account that must be entered correctly to access.
- Create a unique password. Avoid having a single password for your financial accounts. Ensure you have a unique heavy password for the account for more security.
- Avoid connecting your account to personal social media accounts. Connecting the Bachelorette account to your social media puts it at risk since anyone who can hack it would access the Venmo account. This is why we discourage having a Venmo account for group finances opened through Facebook. An email is safer.
- Keep monitoring the account. Don’t assume that everything is okay. Occasionally monitor the account. You can view your transaction history through the Venmo app.
Venmo is the best platform that alleviates money headaches during the bachelorette weekends.
It provides the privacy and security you need when coordinating group payments.
It is, however, key to note that Venmo is not limited to bachelorette parties alone.
You can explore using this App to manage finances for any group, be for family members, bachelor’s party, vacation, or any shared events.