Budget weddings: cut the cost of your big day 5 essential finance tips for budget brides and grooms

Budget wedding, happy couple

Sticking to a budget doesn't mean your wedding can't be stylish and special

Which? Money’s team of experts has rounded up a range of financial tips to help all couples planning their big day – whether you’re organising a wedding on a budget or the sky’s the limit when it comes to spending.

1. Start planning straight away

As soon as you get engaged, you should start thinking about your wedding budget and where you’d like to prioritise your spending. (See our top tips for creating a wedding budget for help.)

Also, the sooner you start shopping around for the products and services you need, the more time you’ll have to track down the best deals. By booking early, you’ll have more scope for haggling – which should be a crucial part of your cost-cutting strategy, no matter how uncomfortable it might feel at first.

See if you can hold your venue, photographer or caterer to current prices as a bonus for paying your deposit a long while in advance – or try negotiating for a special discount, or free added extras, while you’re under no pressure to book a supplier immediately.

Do be careful to check the small-print of any contracts you sign, and make sure your supplier will stick to the price you’ve been quoted even if prices for other customers go up later.

2. Boost your savings

If you’re footing the bill for your wedding – or even just paying for certain items – it makes sense to keep your cash in the best savings account you can find until you need it.

If you’re not intending to use this year’s Isa allowance for longer-term saving, a cash Isa might be the best place to start as you won’t have to pay tax on any of the interest your cash earns.

Read our guide to Finding the best savings account, and check out our Best Rate savings accounts and Best Rate cash Isas reviews to compare different deals.

3. Pay with a credit card, not cash

It might sound counter-intuitive because many people prefer not to borrow to pay for their big days - but even if you intend to foot the bill for your wedding in full and in advance, it still makes sense to use a credit card for booking suppliers and buying the items you need.

Pay for anything worth between £100 and £30,000 on a credit card and your purchase will be protected under Section 75 of the Consumer Credit Act – so if you are let down by your supplier, you’ll be able to claim your money back from your card provider directly.

You could also consider using a cashback credit card for wedding expenses, so you earn extra money or rewards in return for all your spending.

4. Borrow at the best rate

If you need to borrow to supplement your wedding budget, it’s important to do so in the cheapest way possible. Otherwise, the interest you’ll pay on your debt will eat into your spending power at what is already an expensive time.

If you know you’ll be able to pay back what you borrow within a year or so, a 0% purchases credit card might be the best option for you. Using one of these cards will allow you to clear your debt over a specific period at no extra cost, provided you do so within the limited interest-free timeframe.

Alternatively, if you’ll need longer to repay what you borrow, you could consider a low-rate credit card or a personal loan. Read our guide on Finding the best way to borrow if you want more advice on your options.

5. Consider buying wedding insurance

Finally, when you start making bookings for your big day it’s a good idea to think about buying wedding insurance.

Wedding insurance can protect you against a range of problems that might arise in the run up to your celebration – suppliers going bust, for example, or the wedding having to be cancelled due to illness or injury to the bride or groom.

Whether you choose to pay for cover is up to you – and it is likely to depend on how much you’ll be spending, as well as how risk averse you are.

The Which? Wedding insurance review contains tips on how to decide whether you need insurance, and assesses the quality of the policies on offer from companies that provide it.

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