How Big is Your Piggy Bank?

One of the biggest concerns for any couple is planning and paying for their dream wedding. It is exceptionally easy to get carried away with the excitement and plethora of opportunities that present themselves when planning your nuptials and blow any budget you had to begin with.

The engagement has been announced and now the work really starts to set in. It is important where possible to give yourselves plenty of time to research, source and find the details that mean so much to you, at a price you can afford.

It would be dishonest if we said that saving and financing a wedding was easy, it is often the thing that causes the biggest disagreements between the couple. Long gone are the days when the bride’s parents pay for everything, it is now more common for the couple to pay, whilst both sides of the family contribute in some way to the nuptials – buying the wedding dress, paying for the honeymoon etc. This alleviates the pressure on the couple to do what their families want, rather than what is their vision. With the cost of an average wedding in the UK in 2023 falling somewhere between £15,000 - £25,000, it is easy to see how the majority of couples can get overwhelmed by the enormity of saving and planning, but it must be noted that it is possible to pull off your nuptial for far less.

So, how do you save for your wedding? Saving for your nuptials doesn’t mean that you must save every penny you have, nor that you need to face financial strain. Planning your wedding should be something you enjoy together and something you can enjoy without a financial burden.

By making a few lifestyle adjustments, some savvy planning, and some sound advice on where and how you can cut costs, saving for your wedding can be totally manageable and dare we say it, rewarding. There are plenty of tips on how you can navigate your wedding saving journey, guidance on saving for your wedding in a year, as well as how to save money on the different elements of your wedding day itself.

However you look at it, the first thing you must do is to sit down with your other half and construct a plan of action. It is essential that you do not book or commit to anything until you have lived with your ‘savings budget’ for 2-3 months, as this will be an indicator as to how realistic your budget is, but it also allows time for you to do your research.

The research process should be thorough. Speaking with suitable venues and vendors about pricing, availability, lead times and booking process as well as undertaking general research on pricing online, can give you a good indication of what is affordable and what is within your budget. It is worth remembering that your reception venue and catering will eat into your budget the most, so make sure that this is given special attention. This is when you may consider making tweaks to your budget to allow for your wishes or where you will have to compromise on certain aspects of your wedding.

This will dictate how you approach the financial aspects of your wedding. The biggest decisions you need to make revolve around; How much you want to spend; How much you can afford to save each month; How much time you have before your wish to hold your nuptials and finally; How much may be offered by the parents toward the wedding.

Now, let’s look at the first element of this planning – How much you want to spend. Make sure you are realistic, as this is paramount to successfully planning your day. If your ‘saving budget’ is too high or you have failed to factor in events such as Christmas and birthdays or unexpected expenses, you will only feel disappointed each month when you can’t save the agreed amount causing stress between you to grow. Finding the ideal amount you can afford to spend relies on being honest with yourselves and not planning well beyond your means – an average save of £500-£800 as a couple, sees you able to get married within two years while saving more can provide a spectacular event.

So where can you make sacrifices? It is different for everyone. Some couples enjoy a couple of holidays away a year, others have subscriptions to magazines, gym memberships, regular beauty treatments or even regular meals out. These are all areas which if put on hold for a couple of years can generate a healthy pot of money. We are not saying to completely cut these out but perhaps opt for shorter or cheaper options where you feel you can, thus not impacting too much on your lifestyle and mental well-being.

It is essential that as a couple you check in monthly to see how your savings are going, as at this stage there will be money going both in and out and it is easy to lose track of how you are progressing with putting down deposits, paying vendors and buying other items. A good suggestion is to find an online wedding budget programme to help with this aspect.

So, what are 10 ways that you can save your budget? We have indicated below some of the feedback that couples gave about where they could have saved themselves money. Take a look and see if these are areas you could make savings on.

1. Favours- you are feeding your guests, providing drinks and entertainment. The reality is that most favours, unless they are food or drink, end up being left on the table at the end of the day, so do you really need them?
   

2. Save the Dates – these are not absolutely necessary, you can tell people, use online notifications or even send your invitations out 5-6 months ahead of your special day allowing you to get the RSVPs, confirm numbers to caterers and enjoy the celebrations.
   

3. Order of Service – these can be an unnecessary expense which start on the seats and remain on the seats at the end of the ceremony, few people see the need to keep them.
   

4. Customised aisle runners – do you need an aisle runner at all when it will be used for one day and that is it. To make your entrance to your ceremony more enchanting and romantic, decorate the aisle with your choice of lanterns, candles, birdcages or pew ends, or you can scatter rose petals instead.
   

5. Bridal Party Robes – yes, these are cute and fun to wear whilst getting your hair and make-up done, but these personalized robes for the bridal party can be expensive and result in an additional cost to the budget that can be used elsewhere.

6. Expensive Champagne for the toast- most people do not know the difference, so going for a really good champagne for the toast is a questionable outlay. Why not let people use what they have in the glasses in front of them.
   

7. The Hen Do – a weekend away can eat into your wedding budget, so consider carefully if it is necessary. Save yourself and your friends money by choosing something simple – order in an afternoon tea, play some games, enjoy local activities, that way you have more money for the honeymoon.
   

8. Small Children in the Wedding Party – there is no doubt that toddlers look cute all dressed up in pretty dresses and little suits in photos and videos, but little kids often will find unfamiliar clothing, large gatherings and strange places daunting and will play up. Save money by not putting them centre stage.
   

9. Disposable camera – nowadays everyone has a phone or digital camera and hence are unlikely to use the disposable camera to capture memorable moments. Ask your guests to send you their pictures after your special day or add a hashtag to your venue.
   

10. Rehearsal and formal rehearsal dinner. So, whilst the rehearsal is important, as it will be the time when you will have everyone in the bridal party together to run through what is happening at the ceremony, splashing out for a rehearsal dinner is not necessary. Instead, go out for drinks afterwards, and then call it a day as you will need to get your beauty sleep.

Finally, we need to address areas which couples do not always consider and where hidden costs may be neglected.

Most couples have an idea of where they would like to hold their nuptials – it may be a church, a castle, a hotel or a garden. This is where the first financial commitment will come in. If you choose to hold your nuptials in a church, there will be fees which are incurred. These basic legal fees include the cost of the vicar, the church, calling your banns, a banns certificate, lighting, and all administration that comes with the marriage, so it is worth enquiring and bearing this in mind before you commit to your location. In contrast, holding your wedding in a hotel, castle or other licensed venue may provide the opportunity to purchase a celebration package which would include these aspects as part of the venue hire.

If you have given due thought to the ideas we have given above then you will more than likely save a few thousand pounds along the way. The most important aspect you need to focus on is marrying the person you love – Good Luck and enjoy your day!