28 November 2014

Top tips for wedding planning

Planning a wedding is an exciting time but with the average cost now standing at around £20,000 (according to Brides magazine September 2014)  the chances are that you’ll need to start saving well in advance of your big day.

We look at ways to plan ahead and cut costs for a day to remember.

Open a savings account

Both you and your partner could open a Cash ISA if you don’t already have one. That way, you can build up a nest egg without having to pay tax on the interest you earn.

Alternatively, you can put your money into a normal savings account. If you’re not setting a date in the immediate future, and are prepared to tie up your money for a year or more, look for a fixed rate account that may give you a better rate of interest.

Budget for everything

You may be surprised at just how many things there are to organise and pay for when you’re getting married. Start a spreadsheet or use an online budget planner to estimate and gather quotes for everything you think you’ll need, from major elements such as the venue, photographer, honeymoon and dress, to the smaller things like insurance, favours and presents for the bridesmaids. If you find that the costs are mounting up too much, prioritise what’s most important to you. Do you really need 120 guests and five page boys?

Avoid peak times

Saturday is the most popular day of the week for weddings – and therefore the most expensive – so consider marrying on a Sunday or weekday instead; the venue and reception will often be cheaper. Choosing a time outside the peak May to September wedding season can also reduce your bill, and you just might find the weather in April or October is actually better than in the middle of July.

Make your own invitations

If you’re the creative type, you can make your own invitations for a fraction of the price of professional stationery. Look for inspiration in magazines or online, and get all the materials you need from craft stores. If you enjoy baking, why not make cake pops or truffles for your favours?

You can also cut costs by getting assistance from friends and family. Maybe you’re related to a florist or know someone who makes cakes for a living. People will often be happy to help you on your way to married life, so don’t be afraid to accept their support.

Ask for honeymoon vouchers

These days many couples live together before tying the knot, so they already have things like coffee makers, toasters and a dinner service that were traditionally given as wedding presents. Instead of asking things you don’t really need, you could ask for vouchers towards your honeymoon, which is a big part of wedding expenditure that is often overlooked. This is becoming a popular way for couples to be able to afford a special honeymoon in their dream destination.

For more information and guidance, check out our Getting Married guide.

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