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Saving for Your Wedding - How to Keep Perspective About the Big Day

Updated on September 1, 2012

Saving for a Wedding

Getting married is an exciting time for the engaged couple. Weddings can be very costly and there are ways to make a habit of saving for a wedding.  In addition, it is wise to learn some money saving tips on your wedding.  A wedding is always more expensive than you expect.  There are always unanticipated costs or things you want that you didn’t know you wanted.

Before you choose how much you want to save, it is a good idea to educate yourself on what your nuptial day and the honeymoon will cost you. Sit down with your betrothed and discuss what your wedding day looks like to each of you.  This way you can hammer out the important things you are both looking for and then look at the other extra desires you have for your wedding day. It is important to talk about how many people you would like to have, where you would like to get married, what wedding attire you are thinking of, time of year you are looking to get married, wedding style you are looking to have,  and where you would like to go on your honeymoon.  It is also prudent to talk about how much money each of you have to give towards the wedding, and what your parents may contribute. Saving for a wedding can then be mapped out by both of you.

When you look at how much money you have now, with contributions from parents, and how long until you get married, and after looking to the costs of the day, you will have an idea of how much money you will need. Saving for your wedding is a matter of discipline and knowledge.  From here, you can set up a savings schedule for the amount you calculate you may need.

Saving for a Wedding is a Happy Time

Wedding Savings Account

The general rule for saving for your wedding is to try to put away 10% of your monthly pay. You can set up a special account that is earmarked for this occasion.  It is also a good idea to clean out your closets and cabinets for items you can sell on ebay, or Craigslist or hold a garage sale.  Look for ways to cut your monthly expenses and put that extra money in your special account.  Eat out less, whether it is bringing lunch to work, reducing that morning coffee purchase, and eating dinner in more often.  You will be surprised at how much money you can save when you eat at home.  Resist the temptation to buy things you don’t need at the moment. Try not to buy on impulse and try not to buy just because it is on sale. If you can “indulge” yourself less during this time, you will be surprised at how much money you can save. Just make sure you save regularly, and your deposits will grow.

Setting a budget for your wedding will also help you to keep costs within your spending range. Saving for what you think a wedding will cost, is very different if what you spend is way more than you anticipated.  It is easy for costs to get out of control. As you make choices for your big day,  have a list of priorites to keep you focused on where you really want to spend your money.  Many things will seem appealing to you, as you go through the wedding choosing process. Knowing your priorites will help you know what you really want to spend your money on.   

The first place to start in saving for a wedding is setting a budget. Look at both of your earnings and see what you have leftover, where you can cut back and how much each of you can contribute each month. Keep your special wedding savings in an account that is low risk and easy to withdraw from. You don’t want the money tied up or at high risk. Very often you will be paying for the wedding at intervals along the way, and you don’t want the money locked up where you can’t get to it easily.

Research the Costs

Never borrow against credit cards or  a loan against your retirement fund. Try to use what you have, instead of borrowing from family or friends. You don’t need people voicing their opinion about your wedding because they loaned you money for the celebration.  If you have a home, or a condo, and you must borrow, a home equity is the better choice.  It is best for your relationship and your finances to not start out your marriage borrowing. Borrowing for your wedding may hinder you getting a house or other better monetary investment options in your future. Saving for a wedding is up to you.

If you have a credit card with rewards, using your credit card and paying it off each month with no interest will allow you to gain rewards from your spending.  If you can do this, then use your credit card as much as you can, for as many purposes as you can, just pay your card off each month.  If you have flying miles, you can use it towards your honeymoon or other travel.  If you get money rewards, this help you save more money by getting something back for the things you are spending on anyway.

When you think about your priorities, think about being flexible.  The difference of one month to another, the day of the week and even the time of the day, could be a big cost savings for you.. You probably won’t miss what you don’t have, so if there are things you can alter like a date, or  a particular band, or type of flowers, and it makes your wedding more affordable, it might be worthy of consideration.  Another saving for your wedding tip is to keep the costs down.

When you think about the costs involved in your wedding,where you have it, the cost of catering, alcoholic beverages, and things you may rent for the occasion, you can anticipate these costs adding up to be about 50% of your costs of your reception.  Flowers, clothing, photography, videos, music, invitations, cost of transportation, favors, and other msc expenses can be about 10% of your costs.  It pays to look around and research what you want so you can make intelligent decisions that are good for you and your soon to be spouse. Together you can strategize saving for a wedding. Keep things realistic for the sake of your relationship. Keep the meaning of the as your prime focus.  Everything else will fall into place.

Celebrate Your Day

It pays to be conscientious about your spending.  If you are getting close to your spending limits in a particular area, try to cut back somewhere else. Think with logic, not emotion.  Your day will be special, no matter what you have, or what you spend.  It is worthwhile to avoid debt to start your lives together. Saving for your wedding and sticking to a budget is also saving for your relationship. You will still be the toast of your party. People come to your wedding to celebrate you and this very special occasion. Don’t get caught up in materialistic things, that you may lose sight of why you are getting married.  Saving for a wedding can be a bonding experience the two of you will always cherish, so keep things in perspective. Enjoy your day and start your new life together with the wonderful memories of your wedding. May you start your marriage together debt free and remain that way for all your years.  Happy Marriage!


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    • toknowinfo profile image

      toknowinfo 6 years ago


      It is so true. The wedding should have meaning to the couple for it to be truly special. The day is about what they want.

    • KoffeeKlatch Gals profile image

      Susan Haze 6 years ago from Sunny Florida

      toknowinfo, terrific information. I agree with you, a little creativity can save a bundle of money. And not letting anyone pressure you into a large wedding if a small intimate one is what you want.

    • toknowinfo profile image

      toknowinfo 6 years ago

      People often lose sight of what the real purpose of what they are doing is. There are so many ways to make the day special, memorable, and amazing. Many ideas don't even have to cost as much if the couple uses some creativity.

    • pmccray profile image

      pmccray 6 years ago from Utah

      Very wise advice. Too many want a champagne wedding and have a beer budget. Both parties need to go into the venture sans the rose colored glasses, stay in reality, forget the childhood dreams and smell the coffee. It's a special day of course, but it's only one day out of your entire life.