Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.


Planning your wedding: tips for budgeting & saving

3 November 2018

If you’re ready to plan your wedding, then let’s start with the important part: congratulations!

You’re in for a day of love, laughter and happiness as you share some special moments with your nearest and dearest while making a life-long commitment to the person you love.

But are you prepared for an equally-long financial commitment to pay for that special day?

To help you get the most out of your money, we’ve compiled a useful guide full of planning and budgeting tips and tricks to help you prepare for your big day.

Putting together a budget

Weddings come in many shapes and sizes. They can be expensive, stressful to organise and potentially overwhelming. So, it’s important to spend some time discussing with your partner how much you want to spend on this special occasion to make sure you’re on the same page.

Start by putting together a budget and separating the essentials from the nice-to-haves, to help provide some flexibility in the choices you make along the way.

Consider whether you want to save up all the money beforehand, pay some of it using a credit card or, fund your day using a personal loan – providing you meet the eligibility criteria.

Discover personal loans for weddings

Allocating your money  

Money can be a tough subject to broach at any time… let alone when discussing the hefty costs involved in a wedding!

When it comes to talking to your family members about money to ask for wedding contributions (which can sometimes be a slippery slope!), try to work out an exact amount with them which will make your budgeting easier.  

Alternately, you could ask a family member to finance a particular part of the wedding (like the ceremony, honeymoon or catering) rather than contributing a dollar amount.

Every couple is going to have different expenses, and their budgeting will look different, but to help you budget here’s how you might breakdown the costs of where to allocate money:

  • Reception: 40 - 50%
  • Ceremony: 3 - 5%
  • Attire: 8 - 10%
  • Photography/videography: 10 - 12%
  • Flowers: 8 - 10%
  • Entertainment/Music: 8 - 10%
  • Wedding Rings: 2 - 3%
  • Parking/Transportation 2 - 3%
  • Gifts: 2 - 3%
  • Miscellaneous: 8 - 10%

Tracking your spending

Once you’ve established a budget and know where to allocate your funds, you’ll need to track your spending. Getting a system in place to track your spending – like using an expense sheet – can save you angst and prevent you from going over budget.

Online budget calculators can help you get started. You can input your regular expenses, your wedding expenses and your income to see how much you can afford.

Try the Online Budget Planner

Also, when tracking your spending be mindful of the hidden costs and extras, like buying stamps for your RSVP cards and other stationery items, marriage license fees, and more. These ‘pesky’ costs may be little but can certainly add up.

Tips for saving money when planning your wedding

Once you have the venue locked down, it’s time to consider… well, everything else. But a lot of this can be done from the comfort of your own home at least.

Do it yourself where you can

Get online and browse local services and suppliers or see what you can do yourself. There are some serious savings to be made by getting crafty, whether it’s making your own wedding invitations online or finding your own wedding favours to gift people at your reception.

Look online

If you’re not a dab hand at DIY, browse websites like Etsy which are full of beautifully handcrafted, unique items such as wedding bands, bridal bouquets and decorations.

Consider alternative attire options

When it comes to wearing white, there are so many options for a bride, from the traditional gown shops, to buying a second-hand dress or even having a custom-made dress made overseas. Similarly, for the groom, decide whether to invest in a new suit, a more relaxed outfit or just hire something for the day. The choice is yours.

Who do you know?

Don’t forget a wedding is a great time to call in some favours. Maybe you’ve got a friend who fancies themselves as the next star DJ or you have a relative interested in photography? Know a MasterChef who can bake a cake? Sign them up to help in any way they can! Every little bit helps.

How do I fund my wedding?

It’s exciting times ahead, but sometimes costs can quickly get out of hand when it comes to planning your wedding. To get organised, we’ve compiled a wedding planning checklist to help you keep track of your wedding essentials.

You can also use our personal loan repayment calculator to see what your repayments would be like if you decide to take out a wedding personal loan, just be sure to seek financial advice before taking out a loan.

Read more on Learn About: 


The information is intended to be of a general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries. Any advice contained in this document has been prepared without taking into account your particular objectives, financial situation or needs. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement before making any decision regarding the product. Contact us for a copy.

Personal Loans are provided by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Terms, conditions, fees and charges apply and are available upon request. Interest Rates effective (insert date) and are subject to change without notice. Comparison rate based on $ (insert amount) and over (insert years) WARNING: These comparison rates apply only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Got a Question?

Ask Scout, the Suncorp Virtual Assistant