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Wedding Budget – How to pay for your wedding day

Wedding Budget – How to pay for your wedding day

So, your partner proposed and you’re still riding that high, living in an unbreakable love bubble. As you settle into your new role as fiancé and start to dream up all the possibilities that your special day could hold, there’s one question that seems to be on your mind…what’s the budget?

You may have only just gotten engaged but if you’re a fan of the movie “bride wars” you might start to understand why they say that “you’re already behind when it comes to wedding planning!” There is a lot to think about! And if that picturesque wedding dream that we spoke about before involves the most sort after wedding venue in Melbourne, you might want to start locking in your date.  

That’s why finalizing your wedding budget should be the first step you take. For some, the thought of finalizing the wedding budget and understanding who is paying for what is a thought that you would rather push to the bottom of the list. But it doesn’t have to be an uncomfortable task. In fact, making sure that you and your partner are both on the same page when it comes to the wedding plans will save you a few, (let’s call them) “disagreements”. And let’s face it, a disagreement is the last thing you need when you’re planning a wedding!   

Paying for the wedding looks different to every couple so there is no right or wrong answer when it comes to this stage. The old traditions of the bride’s family paying for the wedding are well and truly gone, so let’s talk options!

Len Lim Photography

Personal savings

Some couples choose to pay for their wedding out of their own personal savings. You may have been saving for years for this exact occasion, if you have, you deserve a gold medal for managing your finances so well, because the reality is, life can be expensive and most don’t have these funds accessible when it comes to booking venues. Or if you do, you might prefer to put that towards your forever home. Either way, there are other ways to fund your wedding if you prefer.

The first step to deciding how much of your own personal savings that you would like to put towards this day is to start drafting your estimated budget. This does require some investigation. Start looking at the venues that you would like to host your wedding at. It might be worth a phone call to discuss minimum spends if this can’t be located online. Then you will need to estimate every item that you will require on the day from flowers to videographers to those stunning pearl earrings that you just had to have because, well accessories make a statement (we know the drill). There are a lot of items to sift through at this stage, so to help, we have created a budget template for you to make sure that you don’t miss a beat when it comes to listing these items. You can access it HERE.

After you have created your rough budget, we always recommend putting together wedding option A, B & C.  Yes, that means your ideal wedding compared to your still amazing wedding day, just with a few less bells and whistles.

Now that you have a pretty good grasp on the dollars that you need for your ideal wedding and you can comfortably say the amount that you are willing to put forward out of your own personal savings, its time to look at other contributions to making up the difference.


You might have a family member or multiple family members that you believe would be willing to contribute to the wedding day. Now is the time to call in the favors! We know that these conversations can be uncomfortable sometimes but planning a wedding on uncertain funds is more stressful – trust us! Rip that band-aid off and get it out of the way. Our tip: when approaching this topic, its always nice to take this family member out for a nice lunch or invite them over if you prefer a more private setting. Butter them up real nice… (totally joking, but in all seriousness, it can help- you just didn’t hear it from us). Make sure to express to your family member that there is no pressure for them to contribute towards the wedding but you are just trying to get a grasp on your budget for the day and are wondering if they could clarify if they were wanting to contribute. After the hard conversations have been had, you will get a better idea of whether you are sitting in wedding option A, B or C.

If you have put together all your financial contributions and still aren’t quite there yet, then you may consider the recent trend of creating an online wedding fund. Say goodbye to the registry and instead create an online wedding fund where guests can deposit gift money into prior to the big day. You don’t want to rely too heavily on this payment contribution, just in case you don’t receive as much as you expect. Keep this fund for those extra bells and whistles that we spoke about earlier, so if you don’t receive what you expected then you can always slide back to option B or C.

If all else has failed and you don’t have the funds there is one more option….


Wedding loans, wedding credit cards, refinancing options, were sure you’ve heard them all before. We suggest financing as a last option when finalizing your budget. Often personal loans can have a negative connotation but hey, we say, you only get to do this once (hopefully), so we understand the urge to look at financing options. And there is no harm in looking at all your options!

If you want to go down this road first things first, talk to your current bank. If you already have a home loan, talking about refinancing or re-drawing might be a more suitable option. They will also be able to make recommendations for personal loan options if you prefer. But be sure to shop around before signing on the dotted line. Interest can be a killer so make sure you are aware of the terms. Hopefully this isn’t needed but if it is there is no shame in going down this road, you are not alone!

We hope that you found this information useful. If you are looking at financing your wedding and have any questions about our minimum spends and wedding options, please feel free to reach out to us. We would love to talk to you more about your special day and put together a package that will work for you and your budget!

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