Easy ways to save money on your wedding
Plan your wedding on a budget with our top tips for saving money on your big day.
The average wedding costs around £20,000 so if you’re planning a wedding, you might want to think about getting your savings in order.
If you’re just starting with your savings, make sure you don’t pay tax on the interest you earn by opening a cash ISA.
You won’t pay income tax on the interest you earn and you can save up to an annual limit set by HM Treasury so you’ll be able to put more aside to pay for your big day.
If your wedding is still a little way off, you could earn more interest with a Fixed Rate Cash ISA.
These accounts allow you to build up savings over time with a fixed interest rate for the term you selected. But if you need to withdraw money during the term, you’ll need to pay a withdrawal charge. This could mean you’ll get back less than you deposited at the end of the term.
So make sure you won’t need access to your savings during the term of the ISA.
Your individual circumstances will affect how much tax you pay so this may differ. So it’s worth keeping an eye on your money to make sure you’re still getting the best value.
Keeping the costs down
As well as saving for the big day, there are plenty of things you can do to keep the costs down and stay within your budget. Here are some of our top tips:
Rent your dress
If you’re not intent on keeping the dress, think about renting one for the day. You can rent a designer dress for a fraction of the cost of buying it yourself.
Shop second hand
You can find second hand wedding outfits in charity shops and online for just a few hundred pounds. Many of these are in perfect condition so you can pick up bridesmaid’s dresses or the groom’s wedding suit for much less than the price of a new one.
It could be anything from jewellery to shoes or even the wedding car, but by borrowing from friends and family you could cut the cost of your wedding outfit.
Get the timing right
Save money on your wedding venue by booking outside of the peak season. Venues tend to be busier between May and September so you could negotiate a discount if you book your wedding when they’re a little quieter.
You could also think about getting married midweek. Weekends are the most popular days so prices tend to be higher. So by choosing a weekday you could save hundreds on your wedding venue.
Hold the wedding and reception at the same place
Many civil venues will offer discounts if you hold the ceremony and the wedding reception in the same place.
You’ll also save on renting equipment, decorations and transport with just one venue for the whole occasion.
Organise it online
Cut the costs of posting out your invites by doing it online. There are plenty of companies who’ll design an email template for your wedding invitation and it could add a real modern twist to the event.
Combine it with the honeymoon