Bride and groom celebrating their wedding
Budgeting & Saving
6 minute read

Planning your wedding is exciting and something you should remember for the rest of your life. Developing a financial plan to cover the cost of your wedding will help make the day as special as possible.

This article explores tips for how to pay for your wedding without breaking the bank. Whether you’re just starting to plan or the bells are already ringing, we’re here to help you navigate the financial aspects of your wedding and set up a savings plan to make it a memorable and affordable celebration.

Understanding the cost of a wedding

Before diving into strategies to pay for your wedding, let’s review the expenses involved so we can help you determine your budget:

Venue and catering
The venue and catering typically make up a significant portion of the total wedding budget. This includes the rental fee for the venue, food, beverages, and service charges. Costs can vary depending on location, number of guests, and the type of meal service (buffet or plated).

Wedding attire
Wedding gowns, tuxedo rental, and the attire for the wedding party are all expenses that need to be factored into the budget. This includes the cost of the outfits, alterations, accessories, and shoes.

Photography and videography
You’ll want to capture this special moment in photos and video. Those professionals come at a price. It’s important to allocate a portion of your budget to ensure you have these memories recorded to cherish for years to come.

Flowers and decorations
Flowers and decorations add beauty and ambiance to your wedding venue. This includes bouquets, boutonnieres, centerpieces, and any other floral arrangements. It’s important to work closely with a florist to determine your vision and budget for these elements.


Whether you opt for a live band or a DJ, entertainment is an important aspect of any wedding. This includes the cost of hiring the entertainment and any additional fees for sound equipment or lighting.

Invitations and stationery
Sending out invitations and other stationery items, such as save-the-date cards and thank-you notes, is an expense that should be included in your budget. You may choose to also pay for professional design printing and mailing services or do some of this yourself.

Wedding cake
The wedding cake is a focal point of many receptions, and its cost should be factored into your budget. This includes the cake itself and any additional fees for delivery and setup.

Transportation expenses may include renting a limousine or other special mode of transportation for the wedding party and coordinating transportation for out-of-town guests.

Miscellaneous expenses
Additional expenses often arise during the wedding planning process, such as marriage licenses, wedding favors, and guest accommodations. It’s important to allocate part of your budget for these miscellaneous expenses.

Creating a wedding budget

Now that you have a clear understanding of the various expenses involved in a wedding, it’s time to create your budget. A budget will help you stay on track financially and ensure that you spend your money wisely. Follow these steps to create a realistic wedding budget:

Determine your total budget

Start by determining the total amount of money you have available to spend on your wedding. This may include contributions from family members or personal savings. Be realistic about what you can afford and set a budget that aligns with your financial situation.

Prioritize your expenses
Once you have your total budget, prioritize your expenses based on what is most important to you. For example, if having a stunning venue is a top priority, allocate a larger portion of your budget toward the venue and catering expenses. This will help you make informed decisions when it comes to allocating funds.

Research and gather quotes
Research the average costs for each expense category and gather quotes from vendors to get a more accurate idea of the costs involved. This will help you refine your budget and make adjustments as needed.

Track your spending

As you start making payments and booking vendors, track your spending to ensure you stay within your budget. Keep a spreadsheet or use an online tool like the one available for free at Best Egg Financial Health to record all expenses and regularly review your progress.

Make adjustments if necessary
If you find that you’re exceeding your budget in certain areas, look for ways to make adjustments. This may involve cutting back on non-essential items or finding more cost-effective alternatives.

Saving for your wedding

Now that you have a budget in place, you may need to start saving to cover the costs of your wedding. Here are some strategies to help you save effectively:

Set a savings goal

Start by determining how much you need to save and set a savings goal. Break it down into manageable monthly or weekly amounts to make it more achievable.

Automate your savings

Make saving automatic by setting up a separate savings account and scheduling automatic deposits. This will help you stay disciplined and consistently save towards your goal.

Cut back on non-essential expenses

Look closely at your current spending habits and identify areas where you can cut back. This may involve reducing dining out, entertainment expenses, or unnecessary subscriptions.

Increase your income

Consider ways to increase your income, such as taking on a side gig or freelancing. This additional income can be dedicated solely to your wedding savings.

Explore cost-saving alternatives

Look for ways to save on wedding expenses without compromising on quality. For example, consider DIY projects, borrowing items from friends or family, or opting for off-peak wedding dates.

Paying for your wedding

In addition to saving, you may need to explore other options to cover the costs of your wedding. Here are some strategies to consider:

Personal savings

If you have personal savings earmarked for your wedding, this can be a great source of funds. However, be mindful of depleting your savings entirely and leaving yourself financially vulnerable.

Family contributions

Consider reaching out to family members who may be willing to contribute towards your wedding expenses. This can help alleviate some of the financial burden and make the day more memorable with their involvement.

Wedding loans
If you need additional funds to cover your wedding expenses, consider taking out a wedding loan. However, be cautious and only borrow what you can comfortably repay within a reasonable timeframe.


With the rise of crowdfunding platforms, some couples are turning to their network of friends and family to help fund their wedding. This can be a creative way to involve loved ones in your special day and receive financial support.

Wedding funds and registries

Consider setting up a wedding fund or registry where guests can contribute toward specific aspects of your wedding, such as the honeymoon, photography, or entertainment. This can be a great way to offset some of the costs.

Final thoughts

Planning and paying for a wedding can be a financial challenge. Still, with careful budgeting, saving strategies, and exploring alternative funding options, you can make your dream wedding a reality without breaking the bank. There are online resources like The Knot that can help you as you begin to plan your day. Remember to prioritize your expenses, track your spending, and be flexible when adjustments are needed. By taking a proactive approach to your wedding finances, you can enjoy your special day while setting the stage for a sound financial future together.

This article is for educational purposes only and is not intended to provide financial, tax or legal advice. You should consult a professional for specific advice. Best Egg is not responsible for the information contained in third-party sites cited or hyperlinked in this article. Best Egg is not responsible for, and does not provide or endorse third party products, services or other third-party content.

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