Managing your wedding costs​

Knowing what kind of financial ride you’re in for is absolutely critical when you’re about to make any kind of major money decision. With weddings, there are lots of creeping costs that can blow through your budget if you don’t lock them down early. So, before you start making any big plans about venues and vendors for your wedding, set yourself a hard limit of what you’re able to spend. Sticking to that limit might be a challenge when you start looking at all the romantic little “extras” on offer, but it’s the key to keeping your spending under control.

Wedding planning experts Hitched ran a survey back in 2021 to find out what the typical cost of a wedding in the UK stacked up to. Their results showed that couples were spending an astonishing average of £17,300 on getting married. That’s not even the end of it, either. That figure only covers the costs of the wedding day itself. Engagement rings aren’t included, for instance. Those alone can cost anything from £1,000-£1,700 each on average, with the amount people are prepared to splash out varying around the country. A typical honeymoon can easily add a whopping £4,500 to that total – although many actually cost significantly more.

The most important thing to do is set a budget that’s realistic, and then stick to it. Don’t get caught up in what the television says your wedding ought to be. This is an intensely personal decision and it needs to be treated with respect. It’s absolutely possible to blow through hundreds of thousands of pounds on a really lavish wedding with loads of guests in a high-end venue. If you can afford that and enjoy the idea of it, then we’re not going to try and stop you. If you’re more interested in being married than getting married, though, then a register office can sort you out for as little as £57.

Free budget planner

Okay, you’ve set the limits of your budget and managed your expectations about what you can realistically get for that amount of cash. Now you’ve got to start saving up. Obviously, the length of time this is going to take, and the amount of struggle you’ll have getting there, completely depend on your financial situation and saving goals. On average, though, the smart move is to start saving and planning about 20 months before the big day.

It’s also wise to set up a separate savings account for your wedding fund. The idea is to keep that money “ring fenced” so it doesn’t get eaten into by your everyday costs or unexpected bills. Consistency is the key here. It’s almost always better to save a little bit of money reliably every month than to throw in the odd chunk of cash every so often.

Need some help setting your basic goals and timelines? Use our free   to work out how long it’ll take to reach your saving goals. You can also check out our other guides for more advice on how to save. Whether you’re buying a new home  or a used car, RIFT has you covered.

6 ways to save for a house

How to budget for a new car

We’ve also got a   to help you separate out the everyday costs you can’t control from the ones you can bring down. It’s based on the 50/30/20 system, which you can read about in some of our budgeting guides.

Essentially, it just comes down to working out exactly how much money you can count on coming in each month. With that total firmly in mind, you can start to plan your spending. 50% of your income goes toward essential costs like mortgage repayments or rent, 30% of it counts as your “fun funding” and the remaining 20% is saved or invested. It’s all about taking tighter control of your finances and learning where you can reduce unnecessary costs. Whatever large expenses you’re saving toward, it all starts with a solid, realistic plan. Once that’s in place, the rest is up to you!