Saving money for your wedding

Something borrowed, something blue is all too true if you have to fork out hundreds of pounds in interest for a wedding paid for on credit. Saving up for your wedding cuts the cost and the stress.


Step 1 - Work out the cost of your wedding and set a budget

Whether you opt for a wedding package or put together your own special day, the costs of a wedding can add up.

Set a budget and stick to it so that costs don’t spiral out of control.

emma and danny prepare for their big day

Emma and Danny are getting married in six months. They worked out that they could afford to spend £15,000 on their wedding. A year ago they put £5,000 in an online savings account paying 3% interest. They also made deposits of £500 a month into the account. With not long to go before their big day, they have saved just over £11,000 and are well on track.

Make a list of everything you need to spend money on and shop around for the best deal. Haggling on price is always worth a shot too.

This handy infographic from the Money Advice Service shows how the costs of a wedding can add up.

Step 2 – Work out how much to save each month

Once you’ve set a budget and worked out the cost of your wedding, use our Celebration Planner calculator to help you work out how much you’ll need to save to meet this target or how long it will take if you have a monthly sum in mind.

Be realistic about what you can achieve and how much you can afford.

For example, if you plan to spend £5,000 for a wedding in one year’s time, you’ll need to save around £400 a month.

But, if you start saving two years before the wedding, you’d only need to save £200 each month.

Money fitness tip

Set up a regular payment to automatically transfer a set amount into your savings account each month.

If you have more than one credit card, find out which card has the highest APR and focus on paying that card off first.

Step 3 – Get started

The sooner you start to save, the more manageable the cost will be.

Decide where to stash your savings. Maybe you already have an online bank account that lets you set up a separate pot for the wedding.

Otherwise, open a straightforward instant access savings account.

If you have a large and unexpected expense getting in the way of your saving plan, there are some credit cards that can give 0% interest on purchases for up to a year, or even longer.

Some people use these cards to spread that cost over a long period of time, which can then allow them to continue putting money into their savings each month.

These credit card offers do expire, with the APR reverting to a much higher rate.

So make sure to set up a Direct Debit to fully pay off the balance within the 0% period.

If you have a year or two to plan ahead, you might want to look at accounts that tie up your money but offer better interest – see Cash savings.

Price comparison websites

Comparison websites are a good starting point for anyone trying to find a savings account tailored to their needs.

We recommend the following websites for comparing savings accounts:


  • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
  • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.

Step 4 – Watch your savings grow

Review your savings account at least once a year to check you’re getting the best rate of interest.

Make sure you use your yearly cash ISA allowance so that you don’t pay tax unnecessarily.

Many ISAs tempt you with a bonus for the first few months or year but then fall back to dismal rates.

What to do next

  • Talk amongst your families about sharing the cost and think about wedding dates that suit everyone’s pocket.
  • Open a savings account if you don’t already have one – go online or pop into your bank or building society.
  • Set up a regular payment into your savings account every month.

Your tips for paying and saving for a wedding

See this video from the Money Advice Service on tried and tested money-saving tips.   

Good luck for the big day and remember to stay MoneyFit with our Managing money section when it's all over!

Last reviewed: 04/06/2018

This content has been provided by the Money Advice Service