How to save money on your wedding
What's the average cost of a wedding?
According to a survey of over 2,000 couples, by a U.K. wedding planning service, the average cost of a wedding in 2022 was £18,4001. That’s not a small amount of money, so if you’re hoping to spend less, it’s worth understanding where the highest costs are likely to be before setting your budget.
Here’s a breakdown of the five most expensive wedding costs in 2022:
- Venue hire - £8,400
- Wedding dress - £1,350
- Professional photography - £1,300
- Videography – £1,150
- Food and drink – £70 per head
Wedding saving tips
A wedding is one of the most important days in a couple’s relationship, but that doesn’t mean it has to cost the world. Here are some tips to help you save for the perfect wedding:
1. Set a realistic budget (and stick to it)
It can be easy to let the excitement of wedding planning run away with you. That’s why it’s important to set your budget right at the start to save your expenses stacking up.
Keeping your spending in check won’t only mean you get everything you’ve planned for, but can also help curb any anxieties about overspending, because you already know exactly how much your day is going to cost. You could also consider taking out a wedding loan to help manage any up-front payments you have to make.
2. Choose a cheaper day
The venue is almost always the biggest expense when it comes to wedding planning. However, the day of the week you choose to get wed could make a huge difference to the bottom line.
Take your time to ask around at different venues, and weigh up the prices of weddings on weekdays against having your wedding at the weekend. You may find you can make big savings by being flexible with your days.
3. Prepare to do things yourself
The little things like invitations, flowers and wedding favours can end up costing more than you think. However, they can also be great fun to do yourselves.
If you’re on a budget, take the time to think about what you might be able to source for free or make together. You could even call in favours from friends and family.
4. Rent or borrow
There’s no other day in your life that you’ll buy a full outfit to wear just for one day – and you don’t need to for you wedding day either. Wedding dress and suit hire is becoming an increasingly popular choice for couples looking to save money, or simply make their wedding day more sustainable.
Another more sentimental way to save on your dream dress, is to borrow or buy second-hand from a friend or family member. With just a few alterations, you could give a pre-loved dress another opportunity to walk down the aisle.
5. Keep things casual
Catering can account for a significant portion of your wedding budget. However, the true cost can vary greatly depending on the style of dining you go for.
While a sit-down meal is often considered the more traditional style of wedding dining, buffet-style catering is becoming far more common and can be a lot of fun.
Finance options when paying for a wedding
The cost of a wedding can seem overwhelming. But there’s no need to pay it all off up-front. A personal loan could help you spread the cost over months or even years if you need.
Use our wedding loans repayment calculator to get an idea of how much you could borrow, and how much you’ll end up paying back over time.
Updated July 2023