Say “I Do” to Budgeting
Your Wedding
Wedding budget: How to save money on your big day.
You just said, “I do!”. Now, what will you say when you discover the average cost of an Aussie wedding costs around $36,000 according to ASIC’s Moneysmart Website1. Yes, things can add up that quickly. From the unforgettable wedding dress, flowers, cars, the perfect venue, catering costs, a live band, groom’s gear, and a list of miscellaneous items that stretches to the moon and back.
So, one of the first steps to take—before you take even one down the aisle—is to prepare a wedding budget. Sure, it might sound like it takes some of the romance out of planning your big day, but you’ll thank us after it’s all over.
To help on your special day, we’ve put together some ideas on how to budget for a wedding. There are many clever ways to save money on your wedding day, it’s just a matter of knowing which costs to say, “I do”, to, and which to say, “I don’t”.
A marriage made in heaven and on a spreadsheet: Define wedding priorities and total budget.
How to budget for a wedding you’ll never forget? First thing to remember: It’s your big day—no one else’s. You and your partner get to decide how you want to celebrate it with family and friends. Church or beach? Big or small? Feast or cocktail party? No matter what you choose, it’s important to choose to make a wedding budget.
When you think both logically and creatively, there are some great ways to save money on your wedding day. Some things you’ll be happy to do yourself. Other things you can get help from family and friends. But there will be some things you’ll rather leave to the professionals. Shop around and don’t be afraid to negotiate prices—even couples with bigger budgets are always looking for ways to make a wedding cheaper.
So, you don’t miss anything, take a look at this useful wedding budget planner. Check out Plan It® Instalments here, a feature on eligible American Express Credit Cards that offers a flexible way to pay off recent transactions or your Credit Card balance in equal monthly instalments, with 0% p.a. interest. A monthly plan fee applies.2
Get over pre-wedding jitters fast: Select a wedding venue that works.
One of the first things—that seems as hard as finding a perfect partner—is finding a venue that works to your wedding budget. According to one of Easy Weddings’ most recent surveys, the average cost of a wedding venue in Australia is $14,758 and can be as much as 40-50% of your entire wedding budget3. That’s enough to give anyone pre-wedding jitters. But relax, there are some great ways to save money on your wedding reception.
First off, try to hold your ceremony and reception at the same place. You’ll save money on hiring two spaces and on the travel costs. Think about choosing a venue that is already stunning and doesn’t need too much decorating. Often a restaurant that already has everything you need is a better choice than a wedding space that you need to set up and hire everything for your special day. Also, big, banquet-style platters of food to share are more economical than serving each guest individually.
Once you’ve determined your wedding budget for the venue, talk to your vendor. Don’t ask for a quote, give them your wedding budget, and let them know what you want to splurge on and how make your budget needs to work harder. Another tip is to find a venue that doesn’t make you use all their vendors. Using a venue’s DJ, bartenders, decorators, caterers can add up fast and makes it hard to negotiate better individual deals yourself.
Save the day: Consider timings to save more.
Getting married on a Saturday in Spring or Summer is the peak time in the wedding season. Everything from your venue, car hire, hair & makeup, and catering will be more expensive. But why follow the crowd down the aisle? It’s your day. Go your own way and with a little smart wedding planning, you can make your wedding budget work.
Why not have a winter or autumn wedding? Choose a Friday, Wednesday, or a Sunday. Morning weddings with breakfast and lunch receptions are cheaper than afternoon weddings with evening dinner receptions. Choices like these are great ways to save money on your wedding day.
Also remember, when you know how to budget for a wedding and you plan well ahead of time, then you’ll have time up your sleeve. Vendors are much less flexible on negotiating when they know you are inflexible about your special day.
Don’t forget, if you are one of our American Express® Platinum Card Members, let our Travel Concierge take off the load from you by helping with finding a great wedding venue and wedding planner for this big event of your life.
MORNING WEDDINGS WITH BREAKFAST AND LUNCH RECEPTIONS ARE CHEAPER THAN AFTERNOON WEDDINGS WITH EVENING DINNER RECEPTIONS. CHOICES LIKE THESE ARE MUCH LESS FLEXIBLE ON NEGOTIATING WHEN THEY KNOW YOU ARE INFLEXIBLE ABOUT YOUR SPECIAL DAY.
Wedding trimmings: Trim the guest list and save.
Sure, there’s a lot of pressure to invite all your friends, family, workmates, and your parents’ friends. Plus…plus… plus… plus all their plus ones. But take a look at your wedding budget planner and you’ll see the more people you invite, the more your costs blow out.
Do you really want your catering costs eating into other areas of your wedding—like the must-have wedding dress or the once-in-a-lifetime honeymoon destination? To get what you want on your special day, you are going to have to tweak the guest list and be tough about it. Perhaps you’ll have to cut plus ones. Talk to your parents about not inviting all their friends. Ask some people to attend just the ceremony. Whatever you do, this is the number one way to make a wedding cheaper.
Make the day special: Get help from family and friends.
Sometimes the best wedding gift is just a little help from family and friends. When figuring out ways to save money on your wedding, work out things you and your partner can do and what friends and family can help you with. Do you have a DJ friend or another in a band? Does your nanna love to bake? Or do you have a cousin into calligraphy?
Also, if you are an American Express® Platinum Card Member, you can contact our Travel Concierge to help you plan and arrange this memorable life moment to make your life much easier.
Remember to be realistic about what you want to DIY and what you need professional help with. Sometimes it will be better to just include it in the wedding budget planner and have it off your mind completely.
Putting icing on your cake: Earn rewards by paying upfront costs with your American Express Card
While you have so much on your mind, don’t forget that your American Express Card points can be used to cover some of the costs in your wedding budget4. When you use your American Express® Card to cover items in your wedding budget planner, the points you earn can quickly accumulate and can be used to cover other wedding expenses.
Why not use your Membership Rewards points to shop for a wedding dress at David Jones online, buy gift cards for the bridesmaids or even cover the cost of your honeymoon? Find out more about American Express Travel Rewards and Gift Cards here.
Further, Plan It Instalments is designed to give Credit Card Members the flexibility of paying off recent transactions or a portion of their balance in equal monthly instalments with 0% p.a. interest. A monthly plan fee applies.2
By figuring out what to say “I do” to when you do your wedding budget, means that on your special day, you’ll be able to have that amazing wedding cake you always wanted, and eat it too.
MORE FINANCIAL WELLBEING ARTICLES
Find the Right Credit Card for You
Build Emergency Fund
EXPLORE MORE POSSIBILITIES
CHECK OUT OUR TRAVEL CONTENT
From getting out of town for the day to getting away from it all for a well-earned break, see what great things you can do on your travels.
CHECK OUT OUR LIFESTYLE CONTENT
From the tastiest places to dine out to activities that keeping the kids active and happy over the holidays, discover what great things you can do day in, day out.
CHECK OUT OUR LIFE MOMENTS CONTENT
From helping you get prepared to bring a new puppy home to guiding you through buying your first home, find out what great things you can do for the moments that matter most.
- “Getting Married”, Moneysmart website, https://moneysmart.gov.au/getting-married, Accessed 30 Nov 2022
- Plan It™ Terms and Conditions. You can create an Instalment Plan as long as your account is in good standing. We may limit the amount that can be transferred to an Instalment Plan. Each Instalment Plan will begin from the date it is successfully created, as communicated to you in your Online Account. Payment of your first Monthly Instalment will be due in your next payment cycle. You will be charged a Monthly Plan Fee for each Instalment Plan created. This fee will be charged each month your Instalment Plan is active and will be notified to you before you create the Instalment Plan. View the full Plan It™ Instalment Terms and Conditions here
- “How much does a wedding cost?”, Easywedding website, https://www.easyweddings.com.au/articles/wedding-cost/, Accessed 30 Nov 2022
- Cover Charges with Points Terms and Conditions.
For each successful transaction with covered with points, points will be debited from your Membership Rewards account and a credit placed on your Card in line with the points chosen to be used for the Eligible Charge. A minimum of 1,000 Membership Rewards points is required to cover any eligible transaction with points. Any credit to your Card account cannot exceed the amount of the relevant Eligible Charges. A credit will appear on your statement identified as “Membership Rewards Credit”. Points will be debited immediately and the credit will take up to 3 business days to appear online. Credits processed after the Card account’s statement closing date will appear in the following statement. You are still responsible for payment of the amount due on your Card account by the due date. Any charges covered by points is not redeemable for cash via Credit balance refund.
American Express will select and display each eligible charge that can be covered with points (“Eligible Charge”) and the points rate required to cover the Eligible Charge. Each Eligible Charge must: (a) appear within the Online Statement of the Summary of Accounts page; (b) be redeemed within 2 months of the charge appearing on your Card account; (c) not currently or have previously been disputed; and (d) not be a fee.
Eligible Charges, including the points rate required to pay for the Eligible Charge, may be changed at any time without notice. Eligible transactions can be covered by points via your online account or American Express mobile app. Covering charges with points is available only to Basic Cardmembers enrolled in the Australian Membership Rewards program and is subject to the full Membership Rewards Terms and Conditions. Authorised agents, authorised account managers, additional Cardmembers and Authorised Additional Cardmembers are not eligible. All Linked Card accounts must be in good standing.