Money Advice Service

Something borrowed, something blue is all too true if you have to fork out hundreds of pounds in interest for a wedding paid for on credit. Saving up for your wedding cuts the cost and the stress.

Step 1 – Work out the cost of your wedding and set a budget

Whether you opt for a wedding package or put together your own special day, the costs of a wedding can add up.

Set a budget and stick to it so that costs don’t spiral out of control.

Make a list of everything you need to spend money on and shop around for the best deal. Haggling on price is always worth a shot too.

Step 2 – Work out how much to save each month

Did you know?

The average cost of a wedding is £20,983 but setting a budget and shopping around can help you cut your costs.

Source: You & Your Wedding 21st Century Bride survey 2015

Once you’ve set a budget and worked out the cost of your wedding, use our Savings calculator to help you work out how much you’ll need to save to meet this target or how long it will take if you have a monthly sum in mind.

Be realistic about what you can achieve and how much you can afford.

For example, if you plan to spend £5,000 for a wedding in one year’s time, you’ll need to save around £400 a month.

But, if you start saving two years before the wedding, you’d only need to save £200 each month.

Step 3 – Get started

Top tip

Set up a regular payment (direct debit or standing order) to automatically transfer a set amount into your savings each month.

The sooner you start to save, the more manageable the cost will be.

Decide where to stash your savings. Maybe you already have an online bank account that lets you set up a separate pot for the wedding.

Otherwise, open a straightforward instant access savings account.

If you have a large and unexpected expense getting in the way of your saving plan, there are some credit cards that can give 0% interest on purchases for up to a year, or even longer.

Some people use these cards to spread that cost over a long period of time, which can then allow them to continue putting money into their savings each month.

These credit card offers do expire, with the APR reverting to a much higher rate.

So make sure to set up a Direct Debit to fully pay off the balance within the 0% period.

If you have a year or two to plan ahead, you might want to look at accounts that tie up your money but offer better interest – see Cash savings at a glance for ideas.

Price comparison websites

Comparison websites are a good starting point for anyone trying to find a savings account tailored to their needs.

We recommend the following websites for comparing savings accounts:


  • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
  • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
  • Find out more in our guide to comparison sites.

Step 4 – Watch your savings grow

Review your savings account at least once a year to check you’re getting the best rate of interest.

Make sure you use your yearly cash ISA allowance so that you don’t pay tax unnecessarily.

Many ISAs tempt you with a bonus for the first few months or year but then fall back to dismal rates.

What to do next

  • Talk amongst your families about sharing the cost and think about wedding dates that suit everyone’s pocket.
  • Open a savings account if you don’t already have one – go online or pop into your bank or building society.
  • Set up a regular payment into your savings account every month. Use this downloadable template (DOC 26KB) to send a standing order instruction to your bank.

Your tips for paying and saving for a wedding

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This article is provided by the Money Advice Service.