Saving for a Wedding: Tips to Grow Your Funds & Cut Costs

Saving for a Wedding? Here’s What You Need to Know

Saving up for any big expense can feel like it takes forever. But if you’re planning a wedding, you don’t always have that kind of time, and you’ll need enough funds to cover your wedding day as quickly as possible.

The good news is that saving for the wedding can be seamless and easy. It all comes down to setting a realistic wedding budget, making the right decisions in the planning process, and making any lifestyle changes necessary to get there.

Here are five tips on saving money for a wedding that you can start on as early as the day you get engaged.

5 Simple Ways to Begin Planning for the Wedding Cost

Get on the Same Page as Your Spouse-to-Be

First and foremost, it’s imperative that you and your fiancé agree on your total budget, as well as how to start saving money for a wedding. Do you want to use the funds already in your savings account for this big event? Do you want to take out a personal loan to fund your wedding? Or do you want to make small steps to save up a little money at a time?

Reduce Your Expenses

The next best thing is to reduce your current expenses so you can divert that money into your wedding budget.

Think about what you spend money on regularly that you could live without. Many couples will likely uncover several monthly costs that are eating up their disposable income. Then, tally up what you spend on nice-to-haves, such as streaming services, food delivery, and entertainment, and see what you can cut. You may find yourself saving hundreds of extra dollars per month.

Gain Interest and Utilize Rewards

Choose a high-yield savings account to deposit your wedding savings, so you can earn interest as you save.  Additionally, consider using a cash-back credit card to pay for your monthly expenses, then add the cash perks to your wedding fund. (Just be sure you’re paying off the credit card on time every month so as not to carry over a balance.)

Ask for Monetary Gifts

Many couples nowadays ask guests for monetary gifts rather than signing up for a gift registry. If you go this route, you could request this before the wedding — such as at showers or holidays, instead of other gifts. If you feel uncomfortable doing so, there are very tactful ways to do so; for example, your wedding website can be a great place to make this preference known.

Take on an Extra Side Gig

Lastly, consider taking on an extra side gig like Uber or DoorDash while you’re building up your savings for wedding expenses. You could also take on extra overtime at work.

Compare Your Budget to the Average Wedding Cost

Before you begin tackling your total budget and start saving, it can be helpful to get a handle on the various wedding expenses you’ll encounter as you plan, so you can realistically gauge the overall cost of your wedding and know how you can save money in certain areas.

According to The Knot’s 2025 Real Wedding Study, the average cost of a wedding last year was $33,000. In addition to looking at national averages for overall wedding cost, the study also included a wedding budget breakdown, looking at what couples spent on certain aspects of the ceremony and reception, including:

• $2,100 on the wedding dress
• $12,200 on the wedding venue
• $2,900 on a wedding photographer
• $80 per guest for catering
• $320 on the groom’s attire
• $540 on the wedding cake
• $290 on hair and makeup services
• $1,700 on a wedding DJ
• $2,000 on event rentals (tables, chairs, linens)
• $2,700 on wedding flowers

If all these numbers seem overwhelming, keep in mind that these are averages, and many couples still have their dream wedding while spending much less.

How Do You Save for a Wedding in This Economy?

Even with all these tips for how to save money fast for a wedding, sometimes it’s just not possible, especially in today’s economic environment. Several factors, such as existing debt and other limitations, can prevent some from making progress toward their saving goals — and that’s okay, and you are certainly not alone!

If this is the case, it may be worth it to delay your wedding so you have longer to save or look for a more affordable option, such as a courthouse wedding or elopement followed by a smaller celebration, if you want to tie the knot sooner than later.

Ways to Lower Your Costs While Saving for the Wedding

When you add up all the money you need to save for a wedding, the dollar figure may seem daunting. But there are many ways you can quickly cut costs and reduce your overall budget. Here are 10 quick ways to find extra money in your wedding budget.

1. Skip the wedding planner

Opt to work with a wedding coordinator or simply plan your wedding yourself. DIY wedding planning is also a popular choice, whether you make your own wedding favors, bake your cake, or do anything else yourself.

2. Book during the off-season or a shoulder season

This is when demand isn’t as high, and vendors and venues may offer discounts since they have so much more volume of inventory.

3. Keep your guest list as compact as possible

You don’t need to invite everyone; focus primarily on family members and close friends.

4. Forgo luxurious “extras”

Having things like a champagne toast or escort cards is nice, but they won’t make for a more meaningful wedding. You can also cut the cost by using digital wedding invitations instead of printed invites, or holding off on buying wedding rings until a later date.

5.    Go with a cash bar rather than an open bar

Some couples opt to offer cheap-to-make signature wedding cocktails rather than a full bar, too.

6. Talk to your caterer about the most cost-effective options

See what works best from the caterer’s standpoint for your guest count and the food volume required. Decide between plated dinners vs. buffets vs. food stations; you might also restrict additional portions and see costs decrease.

7.  Use a DJ rather than a live band

Typically, you can book them for a longer time and still save.

8. Skip the cocktail hour

Instead, go straight from the wedding ceremony to the reception.

9. Shop for a wedding gown or tuxedo during sample sales

You could also look for pre-owned and vintage options, too.

10. Avoid rush fees

Book well in advance to avoid extra fees tagged onto your bill. Plus, this helps you get the best options. For example, a venue manager may be able to tell you when reception venues are dramatically cheaper, even when adjusting your dates at the same venue by as little as a few weeks. This may be the difference between early spring and late spring.

Making even just small, barely noticeable decisions like these can dramatically decrease the cost of a wedding, making it easier for you to save money for wedding expenses.

How to Save Up for Wedding Expenses FAQs

Who Pays for the Wedding?

These days, many weddings are paid for by the couple getting married. This differs from previous generations, when the parents traditionally covered the cost.

Can You Have a Fun Wedding on a Budget?

Yes! You can have a wonderful wedding on a budget. Cut costs in the areas you don’t care about (florals, for example) and save that money for any fun addition to the day that’s most important to you.

Is It Easy to Learn How to Save for a Wedding?

Yes. Saving for a wedding is straightforward, just like saving for any other large expense. You just have to know how much you want to save, then decrease your costs and increase your income to work toward your budget over time.

What’s the Most Expensive Part of a Wedding?

The most expensive part is typically the wedding venue.

How Much Do You Have to Spend on a Wedding?

There’s no rule about how much you must spend on a wedding, but the average couple spends just over $30,000.

Now That You Know How to Save for Wedding Expenses, Protect Your Investment

You’ve saved up all this hard-earned money for your wedding — don’t let it go to waste if your wedding is canceled, a vendor doesn’t show up, or someone gets cold feet.

Wedding insurance from BriteCo protects your investment, so you can recoup lost costs if the unthinkable happens. The best part? It will be one of the smallest expenses in your wedding budget.

Get your free wedding insurance quote from BriteCo today!

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