How to save for a wedding

Planning the perfect wedding involves more than just picking the right flowers and venue – it can help to consider your overall financial situation. Understanding wedding costs and how to save for a wedding in the UK can help shape your plans for your special day. 

In this guide, you’ll find an overview of what couples often budget for, practical tips to help you save, ideas for reducing costs, and a look at different types of savings accounts you can use as you prepare for your day.

The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.

The total amount you need to save for your wedding will vary depending on factors like your venue, guest numbers, location and the type of celebration you have in mind. An average UK wedding costs around £23,250, including the average costs for wedding cake, wedding, rehearsal dinners, reception, décor, professional photography, etc.

When deciding how much to save for a wedding, you’ll need to consider the type of wedding you want, how many guests you’ll invite and your priorities for your special day. A simple affair in the garden with home catering and a small guest list will cost a lot less than a fairytale castle with a black-tie dinner for extended friends and family.

Location will also impact your wedding budget and costs. For example, a wedding in London could be more expensive than one elsewhere.

Getting married abroad can, in some cases, work out cheaper due to destinations like Sri Lanka and Mauritius offering bargain wedding packages. Costs can vary widely though, and you’ll need to consider the logistical implications for you and your guests too. 

Taking a structured approach to your wedding costs can help you manage them with more confidence. Here are four ways couples commonly organise their finances ahead of the big day.

Planning your dream wedding is usually pretty easy. Deciding how to pay for it requires a little more thought. 

Setting a clear wedding budget helps you understand how much you’ll need to save and determine what is and isn’t possible. 

Start by making a list of everything you want and putting a cost against it, before refining it into a budget that’s realistic for you. It’s a good idea to have clear estimates for everything you want, and compare costs as well.

Research suggests many couples spend more than they anticipate, so building in a margin can make your budget more resilient. Setting up a simple budget planner can help you track expenses and adjust your plans if required. 

Once you have a target budget, you can work out how much you’ll need to save each month. Key considerations include your monthly income, regular expenses and how long you have left to save. 

If your target is too ambitious, you may need to adjust your savings goals or extend your saving timeframe (if possible). Work out how much you can realistically save in the time you have left, and remember to factor in any existing savings or contributions towards the wedding.

There’s no one-size-fits-all answer to the question “how long does it take to save for a wedding?”. Starting earlier generally gives you more flexibility and helps to manage the costs. Many people open a dedicated savings account to keep their wedding fund separate and earn interest on their balance.

You can compare different types of accounts to see which features align with your timeline.

• Easy access accounts allow more flexible withdrawals.
• Notice accounts offer access after a set notice period and may provide a more competitive rate.
• Fixed rate bonds can be suitable if you already have a lump sum and don’t need to access the money for a set period.

Always review the terms and conditions, especially where early withdrawals may result in fees or restrictions.

Keeping track of your money as you save for your wedding will help you stay on top of your budget and costs. Consider creating a detailed wedding budget spreadsheet or using a budgeting app to track your wedding-related expenses. You could then categorise your costs, set realistic targets, and regularly update the sheet to maintain a clear overview.

It’s also important to shop around and compare wedding savings accounts, so you get the best interest rate for the type of savings account that suits you.

If you’re hoping to tie the knot sooner rather than later, a quick review of your monthly spending can reveal extra room to save. Even small adjustments can help you make steady progress towards your budget.

Some couples explore savings products such as variable rate notice accounts or 1 year fixed rate bonds. These earn interest on your balance, but each works differently. Comparing features like access rules and interest rates can help you see which option fits your timeline.

You can also speed things up by trimming wedding costs. The section below shows how you can help you create a day that feels special without overspending.

Start by agreeing on what truly matters to you both. Keeping plans simple and streamlined may mean your budget goes further. 

You can then map out estimated costs and see where small adjustments can reduce your spend. Prioritising your list by importance may also help you decide where to cut back and where to invest a little more. 

Wondering how to save money for a wedding without blowing the budget? The wedding saving tips below can help you plan an affordable wedding and make your money go that little bit further.

You may pay less if you’re prepared to get married ‘out of season’ or on a weekday. The UK’s ‘wedding season’ typically runs from May to October. 

If you’re willing to skip the conventional white wedding at a grand venue, a simple ceremony at a town hall or registry office followed by a celebration at home can be warm and memorable.

Ask your venue for a breakdown of everything included in the cost. Small unexpected extras can add up if they aren’t included. You could also ask if the venue is willing to drop certain extras to help trim costs. 

There are a wide range of venues that suit smaller budgets, especially if you have a small guest list. While they may lack the grandeur of some venues, a cheaper venue may give you more money to spend elsewhere.

Weddings are cancelled for all kinds of reasons, which gives you an opportunity to secure your dream venue at a discounted price. Just keep in mind that this will often mean little notice, potentially having a knock-on effect on your guest list and other preparations for the big day.

Rather than splashing the cash on new rings, you can save money and make it extra special by using the rings of family members or loved ones who are no longer with you. While you might have to pay to get the rings resized, the cost is often much lower than buying new rings. You might take the same approach to wedding dresses, which can be altered to suit your style and shape. This not only saves money but also adds a meaningful and personal touch to your big day.

Planning a wedding on a budget means you’ll probably have to do some DIY. Making your own wedding invitations, RSVPs, table plans and table cards can save you a substantial amount of money. Consider handing out your invitations instead of posting them, or look into the growing trend of email wedding invitations.

Other expensive aspects of a wedding day include things like photography, hair and makeup, and the DJ. If you’re saving for a wedding on a budget and happen to have friends with talents in any of these areas, consider asking them to contribute as a wedding gift, or for a small charge to save you some cash.

Weddings might be considered an old-fashioned tradition, which is why you can get away with scrapping some of the things that many people do on their big day. Skip the canapés, three-course meals, and champagne toasts, and swap them for more budget-friendly and relaxed options such as a buffet or the bring-your-own-booze approach.

You’re unlikely to wear your wedding suit, shoes or dress again. Shopping second-hand can help save you money and reduce your carbon footprint too.

Just like any other special celebration, there’s often a sneaky hidden surcharge for wedding essentials. When shopping for your dress, decorations and other items, avoid using the term ‘wedding’ and see how much you can save.

When planning your wedding budget, it’s a good idea to include a 5-10% contingency to cover any unexpected costs. If you don’t need this money, you could use it for a honeymoon or start an emergency fund to cover any unexpected expenses.

Organising your finances is one of the best things you can do if you’re planning a UK wedding on a budget. You might consider opening a savings account that’s dedicated to your wedding to resist the temptation to spend your funds. This not only helps you stay on track but also lets you earn interest, so you’ve got that little bit extra in your budget.

If you’re exploring different ways to save for a wedding, it’s not just important to compare savings accounts. Comparing costs for everything you’ll be buying, from venues and cakes to photographers and honeymoon travel companies, will help you find the best budget-saving options.

If you’re saving for a wedding, opening a dedicated wedding savings account can earn you interest on your savings. Depending on the amount of time you have to save before your wedding day, it’s worth comparing different types of savings accounts so you can get the most from your savings.

If you have one or two years to save and a lump sum to deposit, a fixed rate bond with competitive interest rates might be right for you. If you have less time to save but still want to maximise your savings, you might consider a notice account.

You can open a savings account for your wedding through Raisin UK in just a few steps. After registering for a Raisin UK Account, simply log in to explore savings products from a range of UK banks and building societies.

Opening an account is free. Once you’ve been approved, you can transfer your deposit and manage your savings from your online account. This gives you one place to view your balances, compare options, and stay on top of your progress as you plan for your day.

We looked at the costs of weddings from TV and film to see how long the characters would need to save up to afford their big days.

They’re the moments that made us smile, sigh, or even brought tears to our eyes. Weddings on TV and film show the happiest moments for some of our favourite characters, and are often what the whole plot has been leading up to. They can take hours, months, or even years to happen, and if we’ve been following the romance from the start, it almost feels as if we’re one of the guests.

Some of the most lavish on-screen weddings have seen hundreds of thousands splashed out on extravagant venues, food and entertainment. However, the most expensive of all was that of Colin and Araminta from Crazy Rich Asians. As the title suggests, they certainly were crazy rich, with a huge family fortune helping them spend a whopping £6.45 million on their romantic bash.

Given that Araminta is heir to a hotel chain’s wealth, this amount of money would have been small change for such an occasion. We don’t imagine they needed to save at all.

Other high spenders were Matthew and Mary from Downton Abbey, whose wedding set them back £159,021. Not a small sum of money by any means, but when your dad is the Earl of Grantham (worth an estimated £800 million in today’s money) we reckon this wedding didn’t break the bank.

Carrie and Big come in third place, with the Sex and the City pair splashing out £114,484 for their long-awaited celebration. As Big was a financier and a fairly prolific investor, he was rumoured to earn millions. Meanwhile, Carrie was a freelance writer charging Vogue 50 cents per word, so she was doing alright too.

The fourth most expensive wedding is that of Lillian in Bridesmaids, costing around £97,848. With her dad primarily funding the ceremony, having a generous parent certainly comes in handy on such occasions.

Wrapping up our top five is Annie and Bryan’s wedding from Father of the Bride. In the film, Bryan’s parents live in a Bel-Air mansion, so it’s not hard to guess where they might have found the £67,822 needed for their ceremony.

The average UK wedding (excluding rings and honeymoon) costs £19,184*, putting the wedding costs of the next five fictional couples comfortably in the middle range. This makes them much more reasonable to save for, especially for those with well-paying jobs.

At the top of the list is the long-awaited wedding of Bridget Jones and Mark Darcy in Bridget Jones’ Baby. At £58,000, this wedding price tag might have been a little out of reach on Bridget’s publishing salary, but as Mark is a successful barrister, he could easily afford it.

Next up is one of the most famous weddings of all time. When Cinderella married her Prince Charming, it became a dream for many young girls across the world. The prince’s wealth undoubtedly helped, as their big day cost £57,398 to put together, with a little help from the Fairy Godmother coming as a wedding gift.

Could it be any more romantic? When Chandler finally tied the knot with Monica, Friends fans worldwide let out a small cry. With a wedding cost of £43,620, we’d imagine the married couple did too. However, given how much money they were saving on their rent-controlled flat, it could well have been within their means.

Bella and Edward’s wedding came in at just over the UK average, costing the vampire and his wife around £26,516. Saving up for a wedding is definitely easier if you get to live forever, and as Edward’s adopted father was a doctor, his salary no doubt helped too.

At £22,795, the wedding of Schitt’s Creek’s David and Patrick might have seemed extravagant after the Rose family lost their fortune. However, with the couple running a store, the father’s motel business thriving, and their friends contributing to the event, the couple were thrifty when it came to their planning.

Image source: David and Patrick’s nuptials from Schitt’s Creek were a focal point of the series finale

You don’t have to spend big on a special occasion. In fact, some of the big screen’s most famous marriages have come in way under budget and still packed an emotional punch.

In How I Met Your Mother, Lily and Marshall put on their outdoor wedding for only £13,890, using nature to set the scene for their long-awaited party.

Another of TV’s famous couples, Mitch and Cam from Modern Family, spent even less. Their wedding cost only £11,000, which, given Mitch’s work as a lawyer, should have been easy enough to save up for.

Shrek and Princess Fiona slashed costs on their big day in a land far, far away, spending a modest £9,920 to tie the knot. Admittedly, Fiona’s royal background may well have helped her save up the funds, although we’re not sure how they managed to afford Donkey’s wild after-party.

At the lower end of our wedding cost scale, Mamma Mia’s Sophie and Sky only spent £9,373 on their big day, which is fair enough, given how Sophie’s mum stole the spotlight, and we never actually see the two walk down the aisle. We’ll leave what happened next up to your imagination.

The title for the cheapest wedding in film or TV, however, goes to Homer and Marge for their Vegas nuptials in The Simpsons. While Homer and Marge’s romance has lasted more than thirty years for viewers, the on-screen timeline remains a topic of debate. Featured in the third-season episode ‘I Married Marge’, by getting married in a Vegas chapel, they cut huge venue costs, spending only £197 on the whole occasion. It’s safe to assume Marge and Homer would’ve had ample time to save for the meagre cost of their wedding.

Along with buying a house, your wedding day could easily become the most expensive thing you ever splash out on. How big you go is up to you, but whatever you decide to do, our marketplace is home to savings accounts to help you grow your money and make every pound towards your wedding count.

It only takes a few minutes to register for a Raisin UK Account. Once registered, you can click to apply for savings accounts from a range of specialist banks and building societies.

*https://bridebook.com/uk/article/how-much-does-a-wedding-cost-the-2023-uk-average

Methodology:

Each wedding cost calculation includes a combination of canon information, cost of real-life venue hire or approximates based upon fictional location and average costs for things like dresses, flowers, transportation and entertainment, and consolidated by Katie, a wedding planner from Albion Parties.

Image sources:

David & Patrick: https://pyxis.nymag.com/v1/imgs/4e9/33b/ff1ead8267c27676e70a03c65a9c11c240-schitts-creek-recap-2.jpg

Carrie & Big: https://cdn.theatlantic.com/thumbor/kOAuh6QXEx9uAVKqQIIInOgNIkU=/0x62:1200×737/720×405/media/img/mt/2014/10/carriebig/original.jpg