How to save for a wedding

Tying the knot is one of the biggest days of your life, but in the run up costs can quickly spiral. We can help you reach your goal with tips for putting together a savings plan and some thrifty saving hacks.

Set a budget (and stick to it!)

Setting a budget should be step one when it comes to saving for your big day.

From venue costs, to photographers, catering and flowers, it’s quite surprising how quickly the fees can mount up, making it really easy to get carried away.

Agree with your partner what you want and how much you can afford to spend. That way you’ll be able to plan a day that fits around your budget.

Once you have a figure in mind, work out how long it will realistically take you to save up for it and create a timeline.


Take a look at our savings tips guide to help you get started.

View saving guide

Start a wedding spreadsheet

The best way to stay in control of your wedding budget is to keep track of everything. Having a wedding spreadsheet where you track every cost can be handy, from the little things like wedding favours to the big things like the venue and catering fees. Track how much it will be and when it needs to be paid by. This way you won't get caught out with any unexpected costs and you can see if things are going over budget pretty easily. 

Open a savings account

Once you know how much you need to save and roughly how long it's going to take, you'll need to find the best place to save your money. Compare different savings accounts and their interest rates to see which one will work best for you and your partner to help you grow your money.

 

Some couples know their saving might take a while so will be happy to lock their money away for a bit at a fixed rate, whereas you might prefer an easy-access account so you can get to your money whenever you want. 

Compare savings accounts

Wedding cost cutting tips and tricks

If you've set a budget and the maths still just isn't adding up some of the most common ways you can make savings and stick to your budget are by:
  • getting married on a weekday (weekend dates are usually more expensive)
  • doing things yourself – DIY invites, flowers and favours can all help you save money
  • leaning on family and friends –think about things like asking your brother's band to play or getting your friend to bake your wedding cake
  • choosing a buffet style dinner over something more formal
  • renting your dress and suits
  • bargaining with suppliers (often there is a buffer and you may be able to get costs down)
  • getting at least 3 quotes from different suppliers for each cost so you can benchmark prices and avoid paying above the odds.

Ways to pay for your big day

Using your savings is often the most cost-effective way to pay for your wedding. But, there are a range of methods you can use to pay for your big day and some couples use a combination of all them all.

Use your savings

The cheapest way to pay for your wedding is using your savings. This is because you won't be charged any interest for borrowing so it pays to save up as much as you can and pay for things outright if you can afford to.

Consider borrowing

Some couples choose to borrow money to help finance their wedding. Wedding loans (also known as unsecured personal loans) usually come with interest and a set term you'll need to pay the money back over. Be careful though, missing any repayments may impact your credit score and can impact any future borrowing. 

Take a look at credit cards

Some couples choose to pay for some parts of their wedding on a credit card due to the consumer protection offered. With a credit card your money is protected up to a certain amount if something goes wrong with the provider. Some cards also provide rewards, air miles and other perks which might be beneficial. But, you need to remember to make your repayments on time to avoid paying interest or negatively impacting on your credit score.

Borrow from loved ones

Depending on your relationship with family, some members may be happy to contribute or loan money to help you finance your big day. It's important to remember this may impact your relationship with family members if you fail to make repayments. 

Looking for some support?

If saving for your big day has got overwhelming, or you’re struggling to stick to your budget, we might be able to help. Take a look at our budgeting and money management support for practical tips. We also have guidance and resources for managing your money and mental health which may be helpful. Remember, it's better to delay your wedding than to get into financial difficulty to fund it. 

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