Budget weddings: cut the cost of your big day 5 steps to creating an effective wedding budget

Wedding budget discussion

It's crucial to discuss your wedding budget before you begin making plans - even if this might involve difficult conversations

When you first get engaged you’re bound to be caught up in a whirl of excitement – but before you start planning your big day it’s important to think about your budget.

The average wedding now costs around £20,000, and planning your wedding or civil partnership will probably involve spending money on a wide variety of products and services – some of which you won’t foresee initially.

Creating a budget before you start searching for suppliers will help you stay in control of your wedding cash, and should mean you avoid over-spending or having to cut corners where you’d rather splash out.

1. Work out how much money you can spend

Avoid creating a list of ‘must-haves’ for your wedding until you’re worked out how much money you can spend on your big day. Reading wedding magazines, websites and blogs for inspiration makes sense once you’ve created your budget – but don’t start scouring them until you know what you can afford.

Work out how much cash you and your fiance can put by before your wedding, and consider whether you have any existing savings that you’d be willing to spend on it. If you need to borrow, think carefully about the best way for you to do so; the advice in our Finding the best way to borrow guide should be helpful.

Also – even though this might involve awkward conversations – find out whether you can expect contributions to your wedding fund from either partner’s family. Remember that if you receive money from family members, they may be keen to get involved in planning your wedding with you.

2. Research where your budget will go

If you’re planning a traditional wedding day, you’ll need to think about the cost of far more than a big white dress. Big ticket items like venue hire, clothes and catering will only account for a proportion of your overall spending: you’re also likely to splash smaller, but significant, sums on things like flowers, hair and make-up, shoes, jewellery, gifts for your bridesmaids and stationery.

Search wedding websites such as Your & Your Wedding and Brides Magazine online for examples of big day budgets, and ask friends and family who have recently been married for their top tips on what to include in your spending plan.

3. Prioritise your spending

Once you’ve got a list of things you’ll want to buy for your wedding and know how much money you’ll have to spend, it’s time to allocate an ‘ideal outlay’ to each item or service.

As you do this, think about what matters most to you and where you and your partner will see the best value for money.

If you’re a food and wine buff, it’s likely you’ll want to spend a higher than average sum on your wedding catering; meanwhile, photography lovers might want to splash out on a top professional.

On the other hand, you may decide you’re simply unwilling to spend more than £1,000 on a wedding dress you’ll never wear again. It’s up to you to think about your personal preferences and set the spending boundaries accordingly.

4. Keep an eye on your cash and watch out for extras

While you’re spending on your wedding it’s important to keep an eye on where your cash is going. Going over-budget on particular items without working out how this will affect your budget overall may mean your spending spirals out of control.

Meanwhile, it’s important to check the small print in any contracts you sign and be wary of extras you may have to pay for. For example, if you’re planning to book a marquee for your reception, check that electricity, a dance floor, heating and lighting are included in the price you are quoted.

5. Expect to go over-budget

Finally, make sure you put aside a contingency fund for use in the event that you spend more than you’d planned.

Most couples tend to exceed their initial estimates and go 10 - 15% over-budget – which perhaps isn’t surprising given your wedding will probably be the biggest day of your life so far.

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