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How much to save up per month for a wedding

Congratulations on your engagement! It's an exciting time filled with love and anticipation, as you begin envisioning your dream wedding. But let's face it - weddings can come with a hefty price tag that might seem overwhelming. Don't fret! In this post, we're here to show you that planning the wedding of your dreams doesn't have to drain your savings.

We understand that financial concerns can sometimes cast a shadow over the planning process, but fear not! Our mission is to guide you through the art of budgeting and prioritizing, ensuring that every dollar spent brings joy and fulfillment.

From setting a realistic savings goal to exploring cost-effective alternatives and negotiating with vendors, we’ve got you covered.

With some savvy financial tips and a touch of creativity, you can create a memorable and magical celebration without breaking the bank. 

So, grab your partner’s hand, and let’s embark on a journey to plan the wedding that reflects your love and stays true to your budget!

How much to save up per month for a wedding - The Wedding Club

Step-by-Step Guide for Working Out How Much to Save for Your Wedding Each Month

Alright, let’s get real for a sec. Weddings can be overwhelming, no doubt about it. But we’re here to tell you that it’s okay to take a deep breath and take it one step at a time. Planning your dream wedding should be exciting, not anxiety-inducing!

We’re all about helping you strike that perfect balance between creating the wedding you’ve always imagined and keeping things budget-friendly.

Here is the shorter, step-by-step version for working out how much you need to save for your wedding each month – don’t worry, we’ll go into more detail afterward:

  • Step 1: Set a Realistic Budget: Begin by deciding on a total budget for your wedding. Consider your current financial situation, any contributions from family members, and any extra income you can allocate to your wedding fund. Having a clear budget in mind will help you determine how much you need to save.
  • Step 2: Determine Your Wedding Date: Decide on your wedding date or a range of potential dates. The timeline for your wedding will influence how much time you have to save for the big day.
  • Step 3: Calculate the Number of Months: Subtract your current month from your wedding month to calculate the number of months you have for saving. For example, if your wedding is 12 months away and you’re currently in July, you have 12 months to save.
  • Step 4: Account for Any Existing Savings: If you already have some money saved for your wedding, subtract this amount from your total budget to determine how much more you need to save.
  • Step 5: Divide the Total Amount by the Number of Months: Divide the amount you need to save by the number of months you have until the wedding. This will give you the amount you need to save per month to reach your budget goal.
  • Step 6: Consider Additional Income Sources: If possible, explore additional income sources that could contribute to your wedding fund. This could include a side hustle, selling items you no longer need, or freelancing opportunities.
  • Step 7: Create a Dedicated Savings Account: Open a separate savings account specifically for your wedding funds. This will help you keep track of your progress and prevent the money from being used for other purposes.
  • Step 8: Automate Your Savings: Set up automatic transfers from your regular checking account to your wedding savings account each month. This way, you won’t have to remember to save manually, and the money will be safely put aside.
  • Step 9: Reevaluate and Adjust: Regularly review your progress and adjust your savings plan if needed. If you find that you’re not saving enough each month, look for areas where you can cut back on spending or consider extending your timeline.
  • Step 10: Stay Disciplined and Focused: Saving for a wedding requires discipline and commitment. Keep your wedding vision in mind and stay focused on your goal. Making small sacrifices now will be worth it when you have the wedding of your dreams without financial stress.

By following these steps and creating a clear savings plan, you can confidently work towards achieving your ideal wedding budget.

How much to save up per month for a wedding - The Wedding Club

Time to plan a wedding!

So, you’re ready to dive into the world of wedding planning? Awesome! It’s gonna be a rollercoaster of excitement and, well, sometimes stress.

Weddings can get pricey, right? But don’t sweat it! We’ve got some financial planning tips that’ll make your dream wedding totally doable without blowing up your bank account.

The deal with weddings and why they're a big deal

Weddings are like fairytales coming to life, where two souls embark on a journey of togetherness.

But let’s face it, they’re not just about pretty flowers and delicious cake (though those are a plus!). Weddings hold a special place in our hearts and culture, symbolizing the start of a new chapter, surrounded by those who matter most.

Whether you’re dreaming of an intimate gathering or a grand extravaganza, weddings are a big deal because they’re a reflection of your unique love story.

They bring together friends and family from near and far to witness and celebrate your love – and that, my friends, is truly magical.

So, weddings ain't cheap these days, but no worries!

We get it; the costs can add up faster than you can say “I do.”

Weddings are a big deal, and they deserve to be celebrated in style. But that doesn’t mean you have to drain your savings or go into debt to make it happen.

There are so many ways you can still have your dream wedding day without breaking the bank – you just need to do a little research and make some effort to make your wedding budget work.

For instance, you can embark on a mission to find that hidden gem of a wedding venue and rope in some extra help to DIY most of the wedding things – why not plan a wedding DIY and craft party while you’re at it?

Work out where most of your wedding budget will be spent and how you can “hack” those areas to make your money work better for you.

Let's dive into some financial planning to make it all happen without breaking the bank!

You don’t need an expensive financial planner or someone with a Harvard degree in finances to make your wedding budget work for you. Simply follow these tips:

  • Set a Realistic Budget: Start by having an open and honest conversation with your partner about how much you can comfortably spend on your wedding. Consider your current financial situation, any contributions from family members, and any extra income you can allocate to your wedding fund.

  • Prioritize Your Must-Haves: Identify the aspects of your wedding that are most important to you and allocate a larger portion of your budget to these key elements. This way, you can still have the things you truly desire without overspending on less significant details.

  • Create a Detailed Spending Plan: Break down your budget into different categories, such as venue, catering, attire, decor, and more. Allocate specific amounts to each category to ensure you have a clear spending plan to follow.

  • Be Flexible with Dates and Venues: Consider having your wedding during the off-peak season or on a weekday, as venues and vendors often offer lower rates during less popular times. Being flexible with your wedding date can save you a significant amount of money.

  • DIY and Personalize: Embrace your creative side and add personal touches to your wedding decor or invitations. DIY projects can not only save you money but also make your wedding more unique and meaningful.

  • Negotiate with Vendors: Don’t be afraid to ask vendors if they can offer any discounts or if there are packages that can be customized to fit your budget. Shopping around and comparing prices can also help you find the best deals.

  • Explore Alternative Options: Consider alternative options for certain wedding elements. For example, instead of traditional floral centerpieces, you could use potted plants or rented decor. Reusing items from the ceremony for the reception can also help you save.

  • Keep an Eye on Guest Count: The number of guests can significantly impact your wedding budget. Be mindful of your guest list and invite those who truly matter to you to keep costs in check.

  • Avoid Overcomplicating: While Pinterest-worthy weddings are tempting, simplicity can be just as beautiful and cost-effective. Focus on meaningful moments and experiences that reflect your personalities.

  • Keep Track of Expenses: Throughout the planning process, keep track of all your expenses to ensure you’re staying within your budget. Use budgeting tools or apps to help you manage your spending effectively.

Pro Tip: Setting a clear budget from the get-go will give you a solid foundation to work with and help you make informed decisions along the way. From working out how much you have to spend on a wedding, to breaking down the individual costs, your wedding budget is your new best friend to ensure you have the most spectacular day. We have included so many helpful budget-related sheets in the wedding planner templates for Canva which will help with setting up your budget, locating hidden costs, and even payment calendars to figure out which payments are due when. Have a look!

What's your wedding vision?

Picture this: you and your partner standing hand in hand, surrounded by love, with your dream wedding unfolding just the way you want it. Sounds amazing, huh?

So, before you dive into the crazy planning stuff, sit down together and talk about your wedding vision.

What are the things that’ll make your hearts sing? Is it the venue, the music, or maybe the mouth-watering food? Once you’re on the same page, everything else will fall into place…

How much to save up per month for a wedding - The Wedding Club

Dreaming up your perfect wedding day

Is it an enchanting garden affair with twinkling lights overhead? Or maybe it’s a beachside celebration with the sound of waves crashing in the distance. Whatever your vision, this is the time to let your imagination run wild and imagine the wedding day of your dreams!

The key to creating your perfect wedding day is all about embracing your unique love story. Take inspiration from your shared passions, favorite memories, or the little things that make your relationship special.

Whether you’re envisioning a small and intimate gathering or a grand extravaganza, there are no rules when it comes to crafting your dream wedding.

Picking what's really important to you (and your partner!)

Let’s get real for a moment – wedding planning can be overwhelming. With endless possibilities and Pinterest boards galore, it’s easy to get lost in a sea of ideas.

But remember, your wedding day is a reflection of you and your partner.

So, take the time to sit down together and talk about what truly matters to both of you. Share your visions, dreams, and even your wildest ideas. This open and honest conversation will help you narrow down your choices and ensure you’re both on the same page when it comes to planning your perfect day.

Your wedding day is a once-in-a-lifetime event, so make it a reflection of your love, personality, and style.

Here are some tips for picking what’s important to you and your partner for your wedding:

  • Create a Vision Board: Visualize your dream wedding by creating a vision board together. Gather images, colors, and inspiration that resonate with both of you. This will help you see a clear picture of your shared vision and guide you in making choices that align with that vision.

  • Learn to Compromise: In any relationship, compromise is key. If you and your partner have different priorities, find ways to meet in the middle. Look for elements that can blend both of your interests, ensuring that your wedding day reflects both of your personalities.

  • Trust Your Instincts: Wedding planning can be overwhelming with countless opinions and options. Trust your instincts and go with what feels right for you both. Your wedding should be a reflection of your love, and staying true to your intuition will help you make decisions that feel authentic.

  • Focus on Shared Experiences: Consider the experiences you want to create for your guests. Whether it’s a lively dance floor, interactive food stations, or a cozy lounge area, prioritize elements that will bring everyone together and create a joyful celebration.

  • Take Breaks from Planning: Planning a wedding can be intense, so remember to take breaks and enjoy each other’s company without wedding talk. These moments of relaxation will help you both recharge and return to the planning process with renewed enthusiasm.

  • Be Flexible: Flexibility is essential in wedding planning, as things may not always go as planned. Be prepared to adapt and make adjustments as needed while keeping your core priorities intact.

  • Celebrate Your Love Story: Your wedding day is a celebration of the love you share. Incorporate elements that honor your journey together, such as sharing personal vows or having a slideshow of cherished memories during the reception.

  • Keep Communication Open: Continue to communicate openly and honestly throughout the planning process. Regularly check in with each other to ensure you are on the same page and to address any concerns or changes in your priorities.

Time for a heart-to-heart with fam and friends to get everyone on board

Conveying your wedding vision to family and friends who are involved in the planning process is essential to ensure everyone is on the same page and working towards creating a celebration that truly reflects your love story.

Here are some ideas to effectively communicate your wedding vision:

  • Create a Mood Board: Compile images, color palettes, and inspiration that represent your wedding vision. Share this mood board with your family and friends so they can visualize the overall theme and ambiance you want to create for your big day.

  • Write a Vision Statement: Pen down a brief but heartfelt vision statement that captures the essence of your wedding. Share this statement with your loved ones to convey the emotions and feelings you wish to evoke during the celebration. 

It can be something as simple as: “Our wedding vision is a celebration of love, laughter, and cherished memories, surrounded by nature’s beauty in an intimate garden ceremony under twinkling lights. We seek simplicity and elegance, with soft pastel hues and natural elements creating a warm, welcoming ambiance where guests feel connected and loved.”

  • Hold a Family Meeting: Organize a family meeting or get-together with the key individuals involved in the planning process. Take this opportunity to openly discuss your wedding vision, explain the elements that are most important to you, and listen to their input and ideas. This is also an opportunity to decide who is responsible for what.

  • Send Visual Inspiration via Email: Share your mood board or inspiration images with family and friends via email or a shared digital platform. This way, they can access the visuals at their convenience and refer to them throughout the planning process. A tip: You can create a Pinterest board and add everyone involved to collaborate and make notes on pins.

  • Use Social Media or Group Chat: You can also create a private social media group or a group chat in WhatsApp, for instance,  to keep everyone in the loop about the wedding vision, updates, and decisions. Choose a platform that allows for easy communication and shared ideas.

  • Create a Wedding Website: Design a wedding website that showcases your love story and wedding details. Include a section dedicated to your wedding vision, where you can elaborate on the theme, style, and important elements you wish to incorporate.

  • Share Personal Stories: Narrate personal stories or experiences that hold significance for you as a couple. These anecdotes can shed light on the meaningful elements you want to include in your wedding and create a deeper understanding of your vision.

  • Invite Loved Ones to Participate: Encourage your family and friends to contribute to the planning process. Ask for their ideas and suggestions while staying true to your core vision. This involvement can foster a sense of teamwork and shared excitement.

  • Organize Wedding Planning Sessions: Plan regular planning sessions or virtual gatherings where you can discuss the progress and brainstorm ideas together. These sessions will help keep everyone engaged and motivated throughout the planning journey.

  • Be Open to Questions: Be open to answering questions from your loved ones about your wedding vision. They might have inquiries about specific details or how certain elements fit into the overall theme. Being receptive and transparent will foster better understanding and collaboration.

Remember, effective communication is key to ensuring your wedding vision is understood and embraced by your family and friends.

Be patient and empathetic as you guide them through the process, and most importantly, enjoy the journey of planning a wedding that represents your unique love and bond as a couple.

How much to save up per month for a wedding - The Wedding Club

Pro Tip: In order to realize your wedding vision, you need to keep track of your priorities, ideas, and decisions throughout the planning process. Utilize wedding planning tools, spreadsheets, or apps to stay organized and on top of things. This will help you see the bigger picture and make informed choices. You can also use the wedding planner templates for Canva to create a wedding binder and manage all your wedding details in one place.

Breaking Down your Wedding Budget

Let’s get real about wedding costs.

From the big stuff like the venue to the tiny details like those Pinterest-worthy centerpieces, everything adds up.

So, grab a pen and paper (or your phone, because, hey, tech-savvy!), and list out every single expense you can think of. And don’t forget to put a little extra cash aside for any last-minute surprises.

Whoa! Wedding costs - let's get real about 'em

From the venue and catering to the dress, flowers, and everything in between, wedding costs can quickly escalate.

When it comes to wedding costs, there are several essential facts to keep in mind:

  • The location of your wedding can significantly impact the overall cost. Certain regions and venues may have higher price tags than others, so consider this when choosing your wedding destination.
  • The number of guests you invite directly influences your budget. More guests mean higher expenses for catering, rentals, and other elements, so carefully consider your guest list.
  • Booking your wedding on weekends or during peak wedding seasons may come with premium prices for venues and vendors. Consider off-peak times for potential cost savings.
  • While some projects can save money, other DIY projects can become costly and time-consuming if not carefully planned. Factor in the costs of materials, tools, and time before diving into DIY endeavors.
  • Be mindful of hidden fees that may arise from venue rentals, vendors, and additional services. Review contracts carefully to understand all potential costs.
  • Identify the aspects of your wedding that are most important to you and your partner. Allocate a larger portion of your budget to these priorities to ensure they receive the attention they deserve.
  • It’s common for unexpected expenses to arise during wedding planning. Set aside a contingency fund to cover any last-minute surprises without derailing your budget.
  • Don’t hesitate to negotiate with vendors and venues. Sometimes, they may offer discounts or package deals that can help you save on costs.
  • Consider investing in wedding insurance to protect your investment in case of unforeseen circumstances that might affect your plans.
  • It’s not just the big-ticket items that impact your budget. Small details like favors, signage, and transportation can also contribute to your overall expenses.
  • While it’s natural to want a beautiful and memorable wedding, remember that the focus is on your commitment and love for each other. Prioritize what truly matters to you as a couple.

Listing out all the expenses - gotta be thorough!

When it comes to wedding planning, being thorough with your expenses is the name of the game. We’re talking about leaving no stone unturned, so you have a clear picture of where your hard-earned dollars are going.

It’s time to roll up those sleeves and create a comprehensive list of all the costs that come with making your dream wedding a reality.

Start by breaking down the big-ticket items, like the venue, catering, and photography. Then, dive into the finer details – think attire, floral arrangements, stationery, and transportation.

Don’t forget those hidden costs that can sneak up on you, like taxes, service charges, and gratuities.

Now, here’s where the magic happens.

Get creative and explore ways to maximize your budget. Consider alternatives for costly elements, like DIYing some decor or opting for in-season flowers.

Negotiate with vendors, and keep an eye out for package deals that can offer more bang for your buck.

Being thorough with your wedding expenses not only helps you stay on top of your budget, but it also gives you the confidence to make informed decisions that align with your priorities.

How much to save up per month for a wedding - The Wedding Club

And don't forget the unexpected stuff, it happens!

Hidden costs at your wedding can be like unexpected guests crashing the party…

While you diligently plan your budget, it’s crucial to keep an eye out for those sneaky expenses that can pop up when you least expect them.

One of the major hidden culprits is gratuities and service charges. Some vendors may include these fees in their contracts, so be sure to review the fine print carefully.

Another expense that often goes under the radar is taxes. Sales tax and local taxes can add up, so factor them into your budget from the beginning.

Venue-related costs can also hide in the shadows. Many venues have additional fees for things like corkage, cake-cutting, or valet parking. Make sure to inquire about any additional charges beyond the rental fee to avoid any surprises.

If you’re having a destination wedding, don’t forget to account for travel costs. These expenses can include flights, accommodation, and transportation for you and your vendors.

One cost that can catch you off guard is alterations for your wedding attire. Wedding dresses and suits often need adjustments to achieve that perfect fit, and alterations can be quite pricey. Be sure to include these costs in your attire budget to avoid any last-minute shocks.

Lastly, don’t overlook the expense of favors, welcome bags, and other guest-oriented gifts. While these small touches are lovely, their costs can add up when multiplied by the number of guests.

By being aware of these hidden costs and accounting for them in your budget, you’ll be better prepared to handle any surprises and ensure your wedding day is filled with joy and celebration, not financial stress.

Pro Tip: Let’s ditch the idea that you must splurge on every detail to impress your guests. Simple touches, heartfelt moments, and genuine connections are what truly make a wedding special. Remember, it’s okay to set boundaries and make choices that align with your budget. 

choosing a wedding date

Picking the perfect wedding date can be a bit of a puzzle.

What season are you vibing with? Have a favorite month or day that’s special to you both?

And, of course, check with your loved ones to make sure they’re all good to go. Once you’ve nailed that date, mark it on your calendar, and let the countdown begin!

Picking the special day - when is it going down?

Start by considering the seasons – do you envision a sunny summer celebration or a cozy winter wonderland? Think about the climate and weather conditions that align with your dream wedding atmosphere.

Keep in mind that popular wedding months and weekends often come with higher demand and prices, so consider the advantages of off-peak times.

Next, delve into the sentimental aspects of potential dates. Do you have a meaningful anniversary, shared memory, or significant number that could be incorporated into your wedding date?

A date that holds personal significance will add an extra layer of meaning to your celebration. Also, consider any cultural or religious traditions that might influence your choice of dates.

Remember to consider practicalities as well. Check the availability of your dream venue and key vendors for your desired dates.

Being flexible with a few dates can increase your chances of securing your top choices. Keep in mind any potential conflicts with major holidays or family events, so your loved ones can be fully present to share in your joy.

Once you’ve found the perfect date, don’t forget to announce it to your guests in advance, so they can mark it on their calendars and join in your celebration.

Your wedding date is more than just a day on the calendar – it’s the start of a new chapter in your love story, and choosing it with care will ensure that your wedding day is truly magical.

How much to save up per month for a wedding - The Wedding Club

Setting up a timeline for planning and saving - you got this!

In a nutshell, setting up a timeline means you need to work out how much time you have left before your wedding day and then divide all the wedding tasks into that time.

Pro Tip: When it comes to choosing a wedding date, it’s best to decide on three different dates and go from there. This way, you’ll have two backup dates to fall back on if the first one doesn’t work out. Once your ideal dates are chosen, focus on your wedding timelines next. In the wedding planner templates for Canva there are various worksheets to help with this, from a wedding date decision-maker to pre-filled timelines from 16 months out right down to 3 months out. Make use of these to help with managing all your wedding tasks.

Checking Your Money Situation

Before you get carried away with wedding plans, take a moment to see where you stand financially.

What’s in your piggy bank right now, and how much are you bringing in each month?

And those regular expenses can be sneaky! Once you’ve got the details, you’ll know how much you can stash away for the big day.

Figuring out what's in your piggy bank

Before diving into the world of wedding savings, let’s take a moment to assess your current financial situation.

Grab a cup of coffee and gather your financial documents, from bank statements to credit card bills. Take a close look at your income, expenses, and any existing savings you have set aside for your wedding.

Understanding where you stand financially will give you a realistic starting point for your wedding budget.

Don’t worry if the numbers aren’t exactly where you’d like them to be – this is all part of the planning process. Embrace the opportunity to make informed decisions and prioritize what matters most to you as a couple.

Taking a look at your monthly spending habits

This step is all about understanding where your hard-earned money is going and identifying areas where you can make adjustments to free up some funds for your wedding savings.

Take a close look at your bank statements and track your expenses over the past few months.

Categorize your spending into essentials like rent, utilities, and groceries, versus discretionary spending on dining out, entertainment, and shopping.

Be honest with yourselves and each other about your spending patterns and identify any areas where you could potentially cut back without sacrificing your happiness and well-being. Remember, saving for your dream wedding is a team effort, and finding a balance between responsible financial planning and enjoying life together is key.

Here are some tips and advice for evaluating your monthly spending habits and making smart choices to boost your wedding savings:

  • Track Your Expenses: Use budgeting apps or spreadsheets to track your expenses meticulously. Knowing where your money goes will help you identify areas where you can cut back.

  • Differentiate Between Needs and Wants: Distinguish between essential expenses (needs) and discretionary spending (wants). Focus on reducing non-essential costs while ensuring your basic needs are met.

  • Set Priorities: Determine what aspects of your lifestyle are most important to you as a couple. Allocate more resources to these priorities and consider trimming expenses in less crucial areas.

  • Create a Wedding-Specific Budget: Set aside a specific portion of your income each month as your wedding fund. Treat it as a non-negotiable expense to ensure consistent savings.

  • Automate Savings: We’ve already briefly covered this, but you can set up automatic transfers from your checking account to your wedding savings account. This way, you won’t be tempted to spend the money before saving it.

  • Explore Frugal Alternatives: Look for cost-effective ways to enjoy activities and experiences together. Consider cooking at home instead of dining out or opting for free or inexpensive entertainment options.

  • Limit Impulse Spending: Before making unplanned purchases, take a moment to evaluate whether the item is truly essential or if it can wait. Avoid impulsive decisions that may derail your savings plan.

  • Reduce Unnecessary Subscriptions: Review your monthly subscriptions and cancel those you don’t use or can do without. These recurring expenses can add up significantly over time.

  • Shop Smart: Be savvy when shopping for essentials. Look for sales, use coupons, and consider buying in bulk to save money on everyday items.

  • Involve Your Partner: Openly communicate with your partner about your financial goals and work together to make responsible spending decisions. Having shared financial goals strengthens your teamwork and commitment.

  • Avoid Comparisons: Every couple’s financial situation is unique, so avoid comparing your progress to others. Focus on your own goals and make choices that are right for you as a couple.

Finding some places to save - it's easier than you'd think!

When it comes to wedding savings, you’ll be pleasantly surprised at the various opportunities to cut costs without sacrificing the magic of your big day.

Let’s have a look at some ideas:

  • Consider venues that offer multiple services in one package, like ceremony and reception spaces, catering, and decor. This bundling can often lead to significant savings and streamline your planning process.

  • Don’t let your attire blow the budget! Explore sample sales, trunk shows, or second-hand bridal boutiques for stunning dresses at a fraction of the cost. For the gents, renting tuxedos or suits can also be a budget-friendly option.

  • Opt for in-season blooms and locally sourced flowers to save on floral expenses. Get creative with greenery and non-traditional arrangements to achieve an elegant look without the premium price tag.

  • Unleash your inner creativity and DIY some of your wedding décor. Personal touches like handmade centerpieces or custom signage can add a unique charm to your celebration while keeping costs down.

  • Embrace the digital age and send electronic wedding invitations. Not only is it eco-friendly, but it also saves on printing and postage costs.

  • Choose a smaller, beautifully designed cake for the display and serve a sheet cake to guests. This cost-effective trick ensures everyone gets a slice of sweetness without breaking the bank.

  • Show your appreciation with meaningful favors that won’t break the bank. Personalized tokens or edible treats are thoughtful and budget-friendly gestures.

  • Keep an eye out for seasonal sales and vendor discounts. Booking during off-peak wedding seasons can also lead to significant savings.

  • Trim the guest list to include those nearest and dearest to your hearts. A more intimate celebration not only allows for a more personal experience but can also help reduce overall expenses.

  • Save on entertainment costs with DIY playlists or consider hiring a talented student musician for live music. Photo booths with digital props can also provide fun and affordable mementos for guests.

Remember, a little creativity and resourcefulness go a long way in stretching your wedding budget. By exploring these budget-friendly options, you’ll be well on your way to creating a stunning celebration that perfectly reflects your love story without breaking the bank.

How much to save up per month for a wedding - The Wedding Club

Pro Tip: Having a wedding budget in place is super important and can make or break a wedding. Never skip this part of the wedding process and keep an eye on all expenses as well as unforeseen costs. 

Let's Talk Savings Goals

Time to crunch some numbers! You’ve got that total wedding budget in mind, right?

Now, divide it by the number of months you have till the big day, and voilà! You’ve got your monthly savings goal.

Don’t forget to add any help from your family or side hustles you might be doing.

And also: Don’t forget to live and keep your sanity! Make sure you have some extra money you can use to splurge on yourself every once in a while and to spend on a date night every few weeks, for instance. You don’t want to burn yourself out by saving up every little penny you make – it’ll just add to all the wedding stress!

Crunching the numbers - how much do you really need?

We’ve already touched base on your financials, but let’s go over a few things again, shall we?

Determining the total amount you need for your wedding requires a strategic approach and a clear understanding of your wedding vision.

Begin by setting a budget that aligns with your financial situation and preferences. Map out all the essential elements of your dream wedding, from the venue and attire to the photography and catering.

Take into account the number of guests you plan to invite and consider any additional costs like taxes and gratuities.

As you research and plan, keep in mind that priorities may shift, and unexpected expenses might arise. Stay adaptable and regularly review your budget to make adjustments as needed.

Factoring in any extra cash lying around

Did you know that a treasure trove of extra cash might be hiding in plain sight, just waiting to be discovered for your dream wedding? Let’s embark on a quest to uncover these hidden gems and add a touch of sparkle to your wedding fund!

  • Tax Refunds and Bonuses: If a tax refund or work bonus is coming your way, consider dedicating a portion of it to your wedding savings.

  • Gifts and Windfalls: Unexpected gifts or windfalls can create delightful surprises in your journey to “I do.” Whether it’s a birthday surprise or a generous gesture from loved ones, consider directing a portion of these unexpected funds towards your wedding savings.

  • Sell Unwanted Items: Clear out clutter and make some extra cash by selling items you no longer need.

  • Side Hustles and Freelance Gigs: Embrace your entrepreneurial spirit and explore side hustles or freelance opportunities to earn extra income.

  • Cutting Back on Non-Essentials: Evaluate your monthly spending and identify non-essential expenses you can temporarily cut back on.

  • Earn Cash Back and Rewards: Use cash-back apps and credit cards that offer rewards for your everyday spending.

  • Wedding Gift Registries: Consider setting up a wedding gift registry that allows guests to contribute directly to specific aspects of your wedding.

The next two tips might be a tad controversial, but it is another way to rake in some extra funds toward your wedding budget. These options can also replace the notion of receiving a traditional wedding gift from family or a friend.
  • Community and Fundraising: Organize community events or online fundraisers to rally support for your wedding fund. Your network of friends and family will be delighted to be a part of your journey to the altar.

  • Crowdfunding with Purpose: Share your love story and wedding vision on crowdfunding platforms with a clear purpose. Friends and well-wishers may contribute to your celebration, making it even more special.

Balancing wedding dreams with other life goals

Embrace the many splendors that life has to offer and allow your wedding to be a stepping stone to a lifetime of shared dreams and experiences.

Balancing your wedding dreams with other life goals is the key to crafting a harmonious and fulfilling journey.

Remember, the wedding day is a beautiful milestone, but it’s just the beginning of a lifetime of shared experiences and cherished memories.

How much to save up per month for a wedding - The Wedding Club

Pro Tip: Avoid all the potential wedding stress and becoming overwhelmed by having a wedding binder in place. Remember to include the essentials such as the budget, timeline, wedding checklist and the guest list for starters. On top of this, you can add as many or as little additional sheets you want by selecting the ones you need from the wedding planner templates for Canva.

Time to Build That Wedding Fund

Building a wedding fund might sound all serious, but trust us, it’s pretty cool to see it grow!

So, you’ve picked a savings account, or maybe you’ve got a jar with “wedding fund” scribbled on it – nice!

Now, let’s set up automatic transfers each month, so you’re saving like a pro without even thinking about it. Go you!

Finding the perfect savings spot - let's talk accounts

When it comes to stashing away those wedding savings, finding the perfect account can make all the difference.

Let’s dive into the world of savings accounts and discover the best options to make your money grow!

  1. High-Interest Savings Accounts: Look for savings accounts with competitive interest rates. These accounts help your money grow faster, ensuring you get more bang for your buck as you save for your wedding.

  2. Online Savings Accounts: Online banks often offer higher interest rates and lower fees compared to traditional brick-and-mortar banks. Consider the convenience of managing your savings online while earning better returns.

  3. Certificate of Deposit (CD) Accounts: If you’re certain about your wedding timeline and don’t need immediate access to your savings, CDs can be a smart choice. They offer higher interest rates, but your money is locked in for a set period.

  4. Joint Savings Accounts: If you’re combining finances with your partner, consider opening a joint savings account. It’s a fantastic way to pool your resources and work together towards your wedding goals.

  5. Automated Transfers: Set up automatic transfers to your savings account on payday. By automating your savings, you won’t miss a beat, and your wedding fund will steadily grow.

  6. Explore Special Wedding Accounts: Some banks offer savings accounts designed specifically for weddings. These accounts may come with perks or bonus offers that can further boost your savings. Ask your bank if they have something like this available.

  7. Research Fees and Terms: Be mindful of account fees and any penalties for withdrawals. Choose an account with terms that align with your wedding timeline and needs.

  8. Balance Safety and Growth: While higher returns are attractive, prioritize the safety of your savings. Ensure that the financial institution is FDIC-insured or has other reputable safety measures.

  9. Track Your Progress: Regularly monitor your savings account to celebrate your progress and stay motivated. Seeing your wedding fund grow will inspire you to stay on track with your savings goals.

  10. Review Regularly: As your savings increase, reevaluate your account’s performance and compare it to other options. If you find a better account, consider transferring your funds for even more growth.

Set it and forget it - automate those deposits!

Embrace the magic of automation by setting up automatic deposits to your wedding savings account. Whether it’s a weekly, bi-weekly, or monthly contribution, automation takes the stress out of manual transfers.

With automated deposits, you’ll establish a consistent savings routine that won’t let you forget a single contribution. No more worrying about missing a deposit – it’s all taken care of seamlessly.

This not only cultivates financial discipline effortlessly but also helps your wedding fund grow steadily over time. Small amounts add up, and before you know it, you’ll have a sparkling sum ready for your special day.

Once you set it up, it’s a one-time task. Just log in to your bank account or use a mobile banking app, schedule the transfers, and voilà – your wedding savings are on autopilot.

Pro Tip: One of the main pitfalls of wedding planning is realizing you’ve either overspent or that you’ve forgotten about a major expense at the last minute. That’s why it’s so important to make your wedding budget as thorough as possible so that you can avoid these issues. The wedding planner templates for Canva will help with all your budget needs, but also with other things like guest list planning, table seating, mapping out the ceremony and reception, managing the bridal party, and so much more!

Tips to Boost Your Wedding Savings

Wanna see that wedding fund grow faster than your Pinterest board?

There are many things you can do to boost your savings. For instance, start a separate wedding fund, and hey, don’t be shy to ask friends and family to contribute (they love supporting your love story!). And get your DIY skills on – you’ll be surprised at how much you can save without sacrificing that magical wedding vibe.

How much to save up per month for a wedding - The Wedding Club

Ideas for cutting costs and still having a blast

  • Explore unique and non-traditional venues like gardens, parks, or historic buildings. These can be both affordable and breathtakingly beautiful.
  • Choose a simple and delicious menu that doesn’t break the bank. Buffets or food stations can be cost-effective alternatives to plated dinners.

  • Consider borrowing a wedding gown or renting formal wear. Many bridesmaids also appreciate the option to rent their dresses.

  • Hire talented photography or music students for your wedding. They offer quality services at a fraction of the cost because they are still building their portfolios.

  • Opt for a “Bring Your Own Booze” bar or choose a limited selection of affordable drinks. You can still offer a variety of beverages without the high bar tab.

  • Host a daytime wedding or brunch reception instead of an evening affair. Morning and afternoon events often come with reduced venue and catering expenses.

  • A single-tier wedding cake for cutting and a sheet cake for serving guests can save on the cost of an elaborate multi-tiered cake.

  • Set up a digital photo booth with fun props instead of renting a traditional photo booth. Guests can use their smartphones to take pictures, reducing expenses.

  • Rent items like linens, chairs, and decor rather than purchasing them. Renting can be more cost-effective, especially for items you’ll only use for one day.

  • Repurpose ceremony flowers for the reception, or use bridesmaids’ bouquets as centerpieces. It’s an eco-friendly and budget-friendly way to make the most of your floral arrangements.

  • Opt for simple and elegant wedding invitations that are more budget-friendly. Skip the extras like ribbons and embellishments that can increase costs.

  • Support local businesses and vendors, as they often offer competitive rates and personalized services.

  • Consider buying a pre-loved wedding dress or browse sample sales for designer gowns at discounted prices.

  • Save on response cards and postage by using digital RSVPs. Create a wedding website where guests can easily RSVP online.

  • Cut transportation costs by choosing a venue that accommodates both the ceremony and reception. Guests will appreciate the convenience, too!

  • If a large wedding isn’t a must, consider elopement packages that offer an intimate and cost-effective way to tie the knot.

  • Take advantage of post-wedding sales to stock up on discounted decor or favors for future celebrations or events.

  • Focus your budget on elements that are most meaningful to you as a couple, like personalized vows or a sentimental venue.

  • Tap into the talents of friends and family. Perhaps a loved one can create beautiful wedding invitations or provide a cake.

Pro Tip: There are tons of wedding hacks and budgeting tips online, so it’s easy to get overwhelmed with it all. Rather identify where you’d like to cut some costs in the budget and focus on implementing hacks there…

Unexpected Money Hiccups and hidden costs

Life’s full of surprises, and sometimes those surprises mess with your budget. That’s why it’s smart to set aside a little emergency fund, just in case.

While we hope for smooth sailing, it’s always wise to have a financial safety net in place to handle any surprises that come your way.

Here are some additional hidden costs to take note of when planning your wedding:

  • You carefully crafted your guest list, but sometimes last-minute additions pop up. Whether it’s an old friend or a distant relative, accommodating unexpected guests can put a strain on your budget. Having a contingency fund for such situations ensures you can welcome these cherished attendees without feeling financially overwhelmed.

  • If you’re planning an outdoor wedding, Mother Nature may have her own plans. Unexpected weather changes might require a last-minute tent rental or alternative arrangements, which can add unplanned expenses. Stay prepared by setting aside a portion of your budget for weather contingencies, giving you peace of mind regardless of the forecast.

  • Some vendors may include additional fees for services not initially outlined in their packages. Reading contracts thoroughly and clarifying all costs beforehand can help avoid any surprises. Keeping an emergency fund dedicated to vendor-related expenses can provide a buffer if these unforeseen costs arise.

  • Small details like guest favors and vendor gratuities can add up. While these are thoughtful gestures, they may not have been initially factored into your budget. Be mindful of these expenses and plan accordingly to ensure you can show appreciation without financial strain.

  • As your vision comes to life, you may find yourself wanting to add a few extra touches to your décor. While these additions can enhance the ambiance, they can also impact your budget. Allocating a portion of your budget for spontaneous décor upgrades allows you to infuse your personality into the celebration without sacrificing financial stability.

  • If you have guests traveling from afar, consider the costs they may incur for travel and accommodation. While it’s thoughtful to provide recommendations for affordable lodging options, having a fund to assist guests in need can be a gracious gesture.

  • Wedding attire alterations, extra beauty treatments, and unforeseen attire expenses can pop up as the big day approaches. Allotting some wiggle room in your budget for these last-minute essentials ensures you’ll look and feel your best without stressing about the added costs.

How much to save up per month for a wedding - The Wedding Club

Pro Tip: From the bridal beauty planner to the venue workbook and kids’ activities, the wedding planner templates for Canva have everything you need to plan your dream wedding. Whether you’re looking for some basic sheets and only want to use the pages you need, or you want to go all out and be as thorough as possible, these templates allow each bride-to-be to plan a wedding to suit their needs.

Managing Wedding Costs While Planning

Handling the wedding budget requires careful planning and smart financial management.

We might have touched on some of these earlier in this post, but here are some steps to take to effectively handle your wedding budget:

  1. Set a Realistic Budget: Determine the total amount you’re willing to spend on your wedding. Consider your financial situation, contributions from both families and how much you can comfortably afford without going into debt.

  2. Identify Priorities: Sit down with your partner and discuss your wedding priorities. Decide on the must-haves and elements that are most important to both of you. Allocate more funds to these key aspects.

  3. Break Down the Budget: Divide your total budget into categories, such as venue, catering, attire, decorations, and entertainment. Assign specific amounts to each category based on your priorities.

  4. Research and Get Quotes: Research different vendors and venues to get an idea of their pricing. Obtain quotes and estimates from multiple sources to compare prices and services.

  5. Negotiate with Vendors: Don’t hesitate to negotiate with vendors to get the best deals. Ask for discounts, customized packages, or additional services within your budget.

  6. Create a Contingency Fund: Set aside a portion of your budget as a contingency fund for any unexpected expenses or emergencies that may arise during the planning process.

  7. Track Expenses: Keep a detailed record of all wedding-related expenses. Use budgeting tools or apps to track spending regularly and ensure you stay within your budget.

  8. Stay Organized: Use spreadsheets or a wedding budgeting app to keep all financial information organized and easily accessible.

  9. Avoid Impulse Spending: Stick to your budget and avoid making impulsive purchases that are not in your plan. Consider the long-term impact of every expense.

  10. Communicate with Family: If family members are contributing to the wedding, have open and clear communication about budget expectations and responsibilities.

  11. Stay Flexible: Be prepared to adjust your plans if necessary. Be open to alternative options and creative solutions to manage unexpected expenses.

  12. Review and Adjust: Regularly review your budget and make adjustments as needed. Reevaluate your priorities and reallocate funds if circumstances change.

It's not just about the money

As you’re knee-deep in planning, don’t lose sight of why you’re doing this in the first place – love! Your wedding is about celebrating the love you share with your partner, and that’s what makes it truly special. Focus on creating moments that are meaningful to you, ’cause that’s what you’ll remember the most.

Like this post? Here are some images to pin!

How much to save up per month for a wedding - The Wedding Club
How much to save up per month for a wedding - The Wedding Club
How much to save up per month for a wedding - The Wedding Club

by Tanya Guilfoyle

Born in Johannesburg, South Africa, Tanya has been an active contributor and planner in the wedding industry since 2016. When not writing useful content for brides and wedding professionals, she can be found designing templates for her Etsy shop, TWCprintables