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Saving for the big day - how to plan a wedding
Practical tips to give you confidence in budgeting for your special day
Congratulations! You’re on the road to spending the rest of your lives together, and now you’re in need of a celebration to declare your love for one another. Whether it’s the big white wedding or a simple ceremony you’re after, getting married can be both daunting as well as exciting, but the below guide can help you have the party of your dreams without having to worry about your finances.
This simple guide explains everything you need to consider when planning your wedding, with advice on how to keep an eye on your spending.
How long does it take to plan a wedding?
Planning a wedding is something that is unique for each and every couple and is very dependent on your circumstances and what you’re looking for. Some people prefer a long engagement to make sure everything is perfect, while others look for a smaller affair that can be arranged in a few weeks.
Although the average time couples wait to have their wedding is 12 to 18 months, from the moment you say ‘yes’ to the honeymoon farewells, the time it takes to plan a wedding can vary massively.
Make a wedding planning checklist
However long or short your engagement, it’s important to take a step back from the rush of excitement and set out a clear plan of action. Making a wedding planning checklist is a great way to see the steps you need to take to make your dream become a reality.
Sit down together in front of a laptop or a good old-fashioned pen and paper, and write down your vision. Is your wedding happening in the UK or abroad? How many guests are you inviting? What is the date going to be? These are all questions that need answers, so take the time to think about what it is you want before rushing ahead to spend any money.
Make a list of wedding priorities
What you consider a wedding priority is personal to you and your fiancé, but some general wedding priorities may include:
- Date - before you make any kind of plans at all, you need to decide when you want to get married. Do you want to get married on a separate day to the reception? Or will it all be on the same day?
- Budget - setting out a clear plan on how much you can afford can help eliminate money worries.
- Venue - decide on the place where you will be getting married. Will this be a simple legal ceremony, or will you walk down the aisle in a religious building?
- Guest list - Write down a list of people who will be witnessing the marriage, and a list of people who will only be coming to the reception, then mark up who might be coming to both.
- Wedding party - If you’re having bridesmaids and groomsmen, then choosing who you want to be such an important part of your special day should be near the top of your list.
- Style - Do you want a themed wedding? What colour scheme are you going for? How will you decorate the venue? All things to consider when listing your wedding priorities.
Think about wedding dates and seasons
The date of your wedding is one of the first things to consider when planning your special day, so make sure you have considered what the seasons might have in store too:
Summer
No one can control the weather, but having a wedding in the summer months might give you a better chance at saying ‘I do’ on the beach or at sunset.
Spring
Often a popular choice for couples tying the knot, spring weddings give you plenty of time to enjoy your nuptials before jetting off on a summer honeymoon.
Autumn
Whether a cosy marquee or a stately home drawing room, the falling leaves of autumn are a wedding photographer's best friend.
Winter
From a Christmas theme to a snowy backdrop, getting married in the winter months opens up a world of possibilities.
Plan your guest list
Once you know when you’ll be getting married, the next step is to decide who you want to invite to enjoy your special day with you.
When you know who you want there and who you might invite depending on budget, you can start to look at venues big enough to cater for the size of your party.
Remember, when it comes to inviting people to your wedding, you shouldn’t be pressured into inviting anybody that you don’t want to see there. You have a budget to stick to, and if that means not inviting your third removed cousin’s dog, then so be it. It’s your wedding day, and those who want the best for you will understand.
Send your save-the-dates
From two to 200, rounding up different people so they all appear in the same place at the same time is like trying to catch smoke with your bare hands - challenging.
That’s why it’s important to send out your save the dates so that people know when to book time off work or not go on holiday. Get in nice and early so that no one has an excuse for not turning up because they weren’t told far enough in advance.
How to set a wedding budget
Once you’ve made a clear plan of things to do for the big day, it’s time to talk about money.
The most important thing to think about when you are setting your wedding budget is to be realistic. If you’ve never planned a wedding before, it might be worth doing your research on how much things might cost - get no-obligation quotes from venues and services that you are looking to hire so you have a better idea of what to expect.
According to the wedding site Hitch1, the average cost of a wedding in the UK in 2023 was approximately £20,700. Although that might seem like a big number, it’s important to remember that how much you’ll spend will vary depending on your plans.
Start with rounding up how much money you currently have, how much you might receive through friends and family gifts, and how much you might need to make up the shortfall.
To make things easy, here are three simple rules to remember when planning your wedding budget:
Rule 1: Don’t panic
Looking at the bigger picture of how much money you might need can be daunting, which is why it’s important to plan ahead and break your budget down into smaller, more manageable chunks.
Rule 2: Stick. To. Your. Budget
When you start looking around at the type of wedding you could have or the things you could buy, it’s tempting to go overboard, but stick to your guns and remember that your special day is more about making memories than buying fancy place settings.
Rule 3: Plan for surprises
Although you should create a maximum budget and stick to it, it’s also key to add in a little wiggle room for any unforeseen changes that may come your way. That way, if something does pop up, you’re already prepared for it.
Start saving
It doesn’t matter whether you’ve given yourself years or weeks, once you have chosen a date for your big day, it’s time to start saving.
If you already have some money put aside that you can dip into, then you’re off to a flying start. If you don’t have any money already saved, or you are keeping it for something else, that’s fine too, as you still have plenty of time to make a start.
When it comes to saving, a little can go a long way. Putting aside just £2.75 a day for a whole year can mount up to more than £1,000. Start saving whatever you can afford after all your regular bills and payments have been accounted for, and trust the process. You can browse and compare the types of TSB savings accounts available.
If you’re after a wedding with quite a big price tag and you don’t think you’ll be able to save in time, another way to access the funds could be through a wedding loan.
Choose your main wedding vendors
Now that you have your budget in place, you can start planning the fun stuff.
From the all-important wedding outfit to the snacks people can enjoy at the end of the night, making a list of your main wedding vendors is important to get the ball rolling on your plans. Whether you know who you want to supply your flowers or you need to shop around for the perfect wedding favours, let companies know you’re looking so that they can send you special offers and freebies.
Top tip: If you’re on a tight budget, think about which elements of your wedding you can create yourself, such as flower arrangements or invitations.
Buy wedding insurance
If the events Covid-19 have taught the hospitality industry anything, it’s that having backup plans in place is key. Although another worldwide pandemic is not on our 2025 bingo card, thinking with a long head is still just as important.
Purchasing wedding insurance is one of the best ways you can help protect your nuptials if the worst were to happen. There are a range of insurance options, including cover that can be applied to weddings.
Make it legal
Whether you are having the legal part of your ceremony on the same day as everything else, or you are doing it more privately with only a few witnesses, legalising your union is an important part of getting married that can’t be ignored. And don’t forget to ‘give notice’ of your intention to get married as well at your local register office.
Arrange transportation and accommodation
It doesn’t matter if your wedding is taking place down the road or a hundred miles away from your home, don’t forget to think about transportation for yourselves to make sure everyone gets there on time.
Are you staying at the venue where your reception is being held, or are you venturing elsewhere once the night is over? Either way, make sure you have somewhere to rest your weary heads after a long day of making memories.
Check-in on your budget
Setting a budget is one thing, but if you never look at it, then sticking to it becomes a whole lot harder. When you create your wedding plan, it might be a good idea to also plan for scheduled check-ins on your budget.
Whether it’s every few weeks or after each purchase, make sure to keep an eye on how close you are to spending all of your cash.
Manage your money after the wedding
After the wedding day is over it can seem like all the planning and saving was a lifetime away. In reality, now is the time when you have to be mindful of how much of the budget you have left, how much you might have gone over it, and how you are going to pay it off.
If you have taken out a loan to help pay for the big day, it’s important to know and understand the terms of your loan agreement. You need to know how long you have to pay off the balance in full, and how much interest might be charged on top of your original spending.
How can TSB help?
TSB Money Confidence Experts can help you with all aspects of your finances, including wedding money and how to save up for that special day in the first place.
You don’t have to be a TSB customer to access the great range of advice, and you can book a video call or an appointment in branch by visiting the website here.
Whether you already have a solid plan in place and need a little advice on how to get started, or you are worried about how you will afford to plan your wedding, TSB is here to listen. The sooner you talk to us, the sooner we can help.
