How to Save For Your Wedding Without Going Broke

How to Save For Your Wedding Without Going Broke

Your wedding is probably the priciest, most complicated party youll ever spend money on. In 2017, the average cost of a wedding skyrocketed to $33,391, according to The Knot.

Navigating the planning process can be difficult when everyone seems to have an opinion on what traditions are necessary and what you absolutely need to do. Combine that with the FOMO from seeing picture-perfect weddings on Instagram and Pinterest, and you can find yourself in debt or despair (or, if youre lucky, both!).

In this article

The Case for Saving for Your WeddingFirst Things First Determine How Much to SaveSaving for Your Wedding BudgetStick to Your BudgetAdvice From Team Other Resources

Luckily, weddings are scalable. No matter what prestige bridal magazines say, you can have a truly memorable celebration, whether your budget is $5,000 or $500,000. It just takes discipline and a clear-eyed vision of what you and your partner want in a wedding. Your idea of a beautiful and meaningful wedding may not include a tropical honeymoon, monogrammed wine glass favors, or matching bridal dresses and thats OK! What matters is that your wedding truly represents you and your partner-to-be.

We spoke to Jessica Bishop, founder of and author of The Budget-Savvy Wedding Planner & Organizer, and asked for her advice navigating the pains and joys of wedding planning.

The Case for Saving for Your Wedding

Putting all of your wedding expenses on your credit card may feel tempting. Instagram, Pinterest, and wedding magazines are filled with images of designer ball gowns, fairytale-themed venues, and professional calligraphy and combined with the social and familial pressure for weddings to be perfect, taking on debt may feel like the best option.

However, at, we recommend exercising caution before putting a down payment on a venue you cannot afford.Money is already a fraught topic for many couples. Combining your life with someone who may have a different history, philosophy, and level of education when it comes to money is difficult enough. In fact, money disagreements are one of the biggest causes of divorce in the U.S.

Starting your marriage in the red especially if one or both of you already has student loans could make matters more stressful than they need to be.

If the cost of a wedding feels too daunting right now, try scaling back the wedding or elongating your engagement. This is a better long-term decision than, say, racking up credit card debt or raiding your 401K or mortgage.

First Things First

Get on the same page with your partner-to-be

If you want to plan a wedding that truly reflects you and your partner, the best place to start is sitting down and discussing what you actually want together, Bishop said.

Start by making a list of must-haves. Given everything that you could possibly spend money on (from the venue and decorations, to wedding attire, photography, and videography), what do you and your partner value the most? This is an important and unskippable step not only in the wedding planning process, but also as a first step in the marriage. Its an exercise in collaboration and negotiation, as not everyone will want or care about the same things from their weddings.

Just as valuable is making a list of traditions you dont care about. For example, if you think spending thousands of dollars on flowers sounds egregious you dont have to do it! Its never been easier to buck tradition, especially as the internet has opened up a platform for real people to share what their weddings were like and how much they cost.

Remember that your wedding is just that: your wedding

Unless you are an Instagram celebrity or the heir to an oil baron, you will likely have to make some sort of sacrifice for your wedding. Its best to look at this not as a constraint on your imagination, but as an opportunity to narrow the wedding down to what you and partner care about the most.

Set aside preconceived notions of what your wedding ought to be, especially if its stressing you out and making you feel like you need to spend more money than you are able to part with. Putting pressure on your wedding to be the Best Day Ever could be setting it up for failure. No matter how expensive or luxurious the celebration is or could be, it wont compare to the elation of marrying the person you love.

Step 1: Determine How Much You Need to Save

The average wedding costs about $33,000, according to a 2017 survey from The Knot. However, you do not need to use this as a barometer for how much you want to spend, as this figure does not account for you and your partners combined savings, contributions your parents or other family members may want to make, and your own tolerance for big-budget line items.

Personal savings

How much of your savings are you willing to part with for your wedding? This is an entirely personal question for you and your partner, as your risk tolerance may differ. However, we think its important to maintain emergency savings in the event of an unforeseen expense or tragedy. We also dont recommend draining your retirement accounts to help pay for your wedding, as this could jeopardize your long-term financial health as a married couple.

Parental support

If you are fortunate to have parents or in-laws willing to contribute to your wedding, congratulations! This is a move that could lighten some of your financial burdens. However, we wont pretend that this is as simple as saying thank you. Sometimes, those funds come with strings attached.

I recommend sitting down with anybody whos contributing and really hashing it out. I think the biggest way to avoid stress is to set expectations clearly upfront, Bishop said.

Jessica Bishop, founder of and author of The Budget-Savvy Wedding Planner & Organizer

Ask the family members if they would prefer to give a lump-sum cash gift (and if so, how much?) or if they want to put those funds toward something specific, like a wedding dress or photography. Even in the latter case, its best to get an understanding of the dollar-amount theyre willing to contribute so no one is surprised when the bill comes. For example, does Ill pay for food include the food and the wait staff, linens, and open bar?

Bishop recommended asking the difficult questions too, such as: How much say do you expect to have in the decisions that were making? How involved do you want to be in the planning process and is that a stipulation of you giving us that money? Airing out such concerns early on can lead to fewer headaches as the wedding gets closer.

Where to spend

Once you figure out how much you plan on spending for the wedding, its time for you and your partner to figure out where that money will go.

What do you want to see, hear, smell, touch, and taste [at your wedding]? Define your vision for what you want and use it as a guiding principle while youre making the decisions, Bishop said.

Do you hear a string quartet playing during the ceremony? Do you see wildflowers in the bouquets and on every table? Do you want the smell of the ocean to waft from a beach-side venue? Channel these sensory elements and let them be a north star when you are bombarded with all kinds of spending opportunities.

Here is a sample budget of $20,000, which estimates your expenses based on a sample budget breakdown from Kim Forrest at WeddingWire. Use these percentages as a starting point for your own budget, which may be bigger or smaller than $20,000, and feel free to nix any categories that dont apply to you.

Item Percentage of Total Budget Estimated Cost
Venue, catering, cake, and rentals 50% $10,000
Photography and videography 12% $2,400
Wedding attire, hair, and beauty 9% $1,800
Flowers, lighting, and dcor 8% $1,600
Reception music 7% $1,400
Wedding planner 3% $600
Invitations and stationery 3% $600
Officiant and ceremony music 2% $400
Transportation 2% $400
Wedding rings 2% $400
Favors and gifts 2% $400

Venues and rentals

Everything revolves around the location of where youre going to have it, Bishop said, explaining that once couples lock in the timing and venue, the rest of the details can be planned.

Venue costs for the ceremony and reception can vary wildly, depending on the locations popularity, metro area (bigger cities = bigger demand), the season of the year and day of the week (Saturdays over the summer will be the busiest time), and on-site amenities.

Bishop recommended looking at the real weddings featured on The Budget Savvy Bride or sites like Peerspace to find unique and inexpensive locations. Couples are finding their venues at union halls and lodges and community centers. You can go to your local chamber of commerce and ask them for recommendations on event spaces that arent necessarily what you might consider a wedding hall but do offer, like, a nice arch that you can decorate and utilize for a wedding event.

Sometimes all-inclusive venues will get a bad rap for being expensive, but depending on what they include, they may be a better deal than paying separately for things like tables and chairs, wait service, silverware, and catering. For example, an outdoor wedding at a public park may be cheap on its face, but when youre factoring in the number of vendors needed to make the celebration come together, it may be more expensive and a bigger time suck than you feel comfortable with.

Food, drinks, and cake

Many couples are opting for potlucks, appetizers served buffet-style, and even taco trucks over your typical sit-down dinner of chicken, mashed potatoes, and asparagus. Mixing up the catering is an easy way to show you and your partners personality, while also saving money. You can also opt for beer and wine over a full bar, and even buy those drinks wholesale (depending on local liquor laws and venue restrictions).

As for the wedding cake it doesnt have to be traditional at all. Instead of elaborate multi-tier cakes from bakeries (which could cost between $300 and $700), some couples are enlisting talented and trusted friends to make homemade cakes. Others are opting out of the tradition entirely with donut walls, cupcake towers, and ice cream sundae bars.

Photography and videography

It can be difficult to cut costs when working with service providers like photographers and videographers, but it can be done. For example, Bishop said some photographers will charge less if youre not booking them for the entire day of the wedding. You could negotiate a shorter length of time where youre paying an hourly fee rather a package, she said.

Professional photo booths, complete with props and a dedicated photographer, have come into vogue the past decade, but these can come with a high price tag. Instead of hiring a service, you can set up a DIY backdrop and a camera rigged to a tripod, or distribute one or two instant film cameras for guests use during the wedding.

Wedding planner

Hiring a wedding planner to take on all the logistics is certainly a time saver, but the average cost is $1,988, according to The Knot. If your budget is limited, this is an area where you can cut corners. Instead, consider hiring a day-of coordinator, whose sole responsibility will be coordinating vendors from the music to the decorations on the day of your wedding.

If a planner isnt in your budget, thats OK! Provided they have the time and willingness, you may be able to lean on your wedding party to help with some logistical matters. And of course, dont forget that you are just one half of a team your significant other will also be crucial in alleviating the workload and stress of planning.

Number of guests

Weve outlined many of the top expenses and ways to save money, but nothing will be as consequential as the number of guests you invite. The Spruce estimates you can expect 85% of people who are local will attend the meeting, while you can expect that percentage to go down depending on the number of out-of-towners you invite and how close to them you are.

Guest lists are tricky, because you dont want to hurt anyones feelings especially if theyre family or if you were invited to their wedding. However, you also dont want to foot the cost of your entire workplace or college fraternitys attendance, if you are only acquaintances at best with most of them.

This sentiment is why micro weddings are becoming popular. Bishop explained, [Many] couples are just inviting their closest family members and maybe a few friends. They dont want to spend the equivalent of a [house] down payment on a one-day party when their bigger priority is maybe buying a home together or going on a honeymoon.

Step 2: Saving for Your Wedding Budget

Saving from your regular income

Now that you know the amount youll need to save, you can figure out how to save it from your and your partners regular income. The easiest way to calculate this is to take the desired savings amount, subtract your savings and familys contribution (if applicable), and divide that by the number of months or pay periods left until the wedding. This will tell you roughly how much youll need to save to stay debt-free.

Look at the low-hanging fruit in your spending and see where you can make cuts. If you buy lunch every day at work, for example, get into the habit of bringing a brown bag lunch. Is there a gym membership youre not getting the full use of? Cancel it and rely on at-home exercises or run outside.

Everyone needs some sort of outlet or indulgence, though, so make a plan that sets you up for success.

If this number sounds impossible, though, consider scaling back your wedding expenses or lengthening the engagement period.

Budgeting tools

How do you plan on tracking your savings goal? If you dont already have a system in place, then you will not know if youre saving or not. Where many people go wrong is they dont set concrete and easily definable goals. According to the SMART framework of goal-setting, you are best equipped to achieve your goals if they are Specific, Measurable, Achievable, Realistic, and Timely.

With this in mind, its not enough to declare that you want to save money. You must also define, for example, how much you and your partner want to save ($7,000), how youre going to measure the goal (create a budget spreadsheet and check in on your goal bi-weekly), and your deadline for reaching your goal (one month before the wedding). This exercise will get you thinking about how youre going to move forward and set yourself up for success.

In this case, a good budget is key. It clearly defines your monthly income and your expenses, both fixed (such as rent, utilities, cell phone bill, etc.) and discretionary (such as restaurants and entertainment). This system of inflows and outflows can be created in a spreadsheet or through an automated budgeting software like Mint. These programs connect to your credit cards and banking institutions, so you can see all of your purchases in one view and get a complete financial picture.

Where to put your savings

We recommend putting your savings into online savings accounts, which offer higher yields (exceeding 1.50% APY) and liquidity, meaning you can access your funds easily. Online banks tend not to have brick-and-mortar stores, but they make up for it with customer service and nationwide access to ATMs.

Checking accounts are also decent options. Savings accounts often require a couple days for a transfer to a credit card or debit account to go through, but transactions through your checking account are nearly instant. Plus, many checking accounts from online banks are now offering rewards in the form of guaranteed returns. While the APY wont be as high as a savings account and oftentimes is contingent on an account balance its a good option for people who want their money in one main account.

If you know you wont need portions of your money immediately, you can also put some of your savings into certificates of deposit (CDs). These tend to offer higher returns than savings accounts and more stability than putting funds into the stock market. In return, you lock in your money with the bank for a fixed period of time (ranging from 3 months to 5 years, typically). The downside is that your money isnt easily accessible and if you need to withdraw funds before the term length, you may have to pay a penalty, which could eat into the principal investment.

Step 3: Stick to Your Budget and Get Creative Along the Way

Enlist the help of your partner

Remember that youre not in this alone. Oftentimes, the person planning the wedding is the one who takes on the emotional burden of budgeting and sticking to that budget and thats a level of stress that no one needs to carry alone. Remember, this is their wedding too, and the important part is that you both end up married at the end.

Ask them to coordinate the guest list RSVPs, sort out vendor contracts, and help with DIY decorations. Involving your significant other in the decision making will make your relationship stronger. It also minimizes the resentment that could come from one person shouldering most of the responsibilities of wedding planning. In a way, its training for the lifelong practice of marriage.

Minimize indulgences, but keep some for sanity

If wedding planning requires strict adherence to a budget, it may be difficult to not feel deprived. After all, the stress of coordinating a huge event, plus a major lifestyle change, is a lot to get used to. For this reason, we recommend keeping some extra spending money in your budget so you dont go crazy.

If your pricey gym membership is what keeps you feeling like you, then it may be easier to cut expenses in the going out category. If daily lunch at the local deli is your way of getting out of the office, then limit that purchase to twice a week and go to the local park with a brown-bag lunch the other days of the week.

By allowing yourself small indulgences, youll have an easier time saying no to bigger impulse purchases.

Advice from the team

Our team at are experts at finding ways to save money. Here are some tips from our own weddings to help you along the wedding planning journey:

  • Fresh flowers are for rich people! I used dried flowers at my wedding and my sister used Sola Wood flowers. We both were able to make bouquets by hand weeks in advance and save the hassle of refrigeration and lots and lots of money! Lauren Thomas, Communications Specialist
  • I had a small wedding but most everyone who did come from out of town so our venue was a giant lake house we found on Airbnb. it was much cheaper than most wedding venues and equally beautiful. Jermaine Lecky, Production Assistant
  • I am creating my sisters invitations for save-the-dates and the actual wedding invitations. I am using my own hand lettering to make it more personable and not have to spend so much on a template and a provider. Jessica Hunt, Communications Associate
  • We did a curated playlist instead of hiring a DJ, had a potluck reception instead of catering, made most of the decorations ourselves, and held the ceremony and reception at a local church that was very, very affordable. Philip Palermo, Lead Senior Associate, For the Home
  • We hosted our reception at a park district building that, in our case, was a very nice space and only like $500, compared to thousands at other private venues. John Puterbaugh, Senior Editor

Helpful Resources

There are a ton of resources online that will help you find small ways to save. We recommend the following guides and tools for wedding planning:

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