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Financial Planning for Your Big Day: Making Informed Decisions About Personal Loans for Weddings

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Weddings are grand occasions that most people wait their whole lives to experience. A lot of planning goes into making sure that the day is perfect as per your ideas and dreams. 

However, turning your dreams into a reality can cost you a pretty penny. That is why you need to have a thorough plan of what your wedding needs and how you plan on funding it. 

Two vases with purple flowers on a wooden table.

In this article, we detail some of the hidden and upfront costs of the wedding, ways to source your financing for the wedding, and how to keep to a budget. 

It is widely known that weddings can be costly – even if you’re just planning a trip down to the courthouse to sign the certificates. 

When it comes to planning a big ceremony you need to be aware that while a lot of the costs are upfront, there are ‘hidden’ ones that won’t be at the forefront of your mind when you are planning. It’s better to be aware of these costs and pencil them into your budget so that you don’t get caught by surprise when the time comes 

Important Upfront Costs

Some of the standard costs that you need to be aware of are things like:

• Venues hire and rentals for decor, set up, and catering.  

• Attire for the relevant days of the weddings. This includes the wedding day clothes jewelry and make-up; as well as clothes for the engagement parties, rehearsal dinners, and the reception. 

• Food for the reception, the cake for the cutting, additional snacks for the reception, as well as catering for the other wedding-related days. You also need to keep in mind the alcohol and drinks for these days as well.

• The ceremony itself – which includes the wedding’s officiator, your marriage certificate, and wedding rings.

• Entertainment and music. If you are planning on having extra wedding entertainment other than your DJ or live band.

• Capturing the event with video and photographs. You need to hire a provider with an all-inclusive package for your wedding video.

• Emergency fund: This is to cover any surprises or unforeseen occurrences that happen.

• Honeymoon: If you are planning on going away for a trip after the wedding, this needs to be factored into your budget.

A laptop on a wooden desk with a notebook and a cup of coffee.
A laptop on a wooden desk with a notebook and a cup of coffee.

Hidden Costs

Costs that are not explicitly stated, but will crop up during the planning and execution of your event 

• The cost of the venue might only cover the fee to hire out the premises sans decoration and other vendors. You may need to get in touch with rental vendors to supply your needs. To make things easier, find out about the venue’s vendor policies when seeking assistance outside of the scope that they offer. 

• When working with vendors, also keep an eye on their tax rates and service charges. Speak to them upfront about it so it doesn’t catch you off guard. Remember to keep in mind tips for the employees of the vendors who will be putting in the manual work at the wedding ceremony. 

• Permits and contingency plans are important if you are planning on getting married at a non-traditional venue. You need to be aware if you are allowed to have a gathering in public spaces and what permissions you need to get to have it. 

• You also need to be aware of parking for your guests and vendors, as well as the transportation of equipment and food to the wedding venue – especially if it is a destination wedding away from your resort.

• Don’t overlook the time and energy the vendor employees will be putting into your wedding. You need to consider catering for them and factoring in overtime charges if your event ends up running later than you planned. 

• Wedding Insurance is a great backup to have, this will have you covered in the event of something going wrong. 

• All your clothes and jewelry may not end up being a perfect fit, so you need to factor in adjustments for jewelry and tailoring for your clothes.

• When it comes time to deliver the invitations, you need to factor in gas prices for traveling to hand deliver the invites or postal fees if you decide on posting them instead. 

• At a lot of weddings, the guests don’t leave empty-handed, you might consider giving them a token of appreciation or gift bag. Depending on how many guests you invite, this can set you back a fair amount. 

• Bridal fairs are something you may opt to attend. These events are conventions where couples can check out possible vendors for their wedding and get inspiration. 

Financial options

With the right amount of planning and budgeting, your wedding won’t cost you an arm and a leg. When it comes to paying for your wedding there are several options that you can choose to fund your big day. 


When most people decide to get married, this is the first step they take to fund their wedding. By putting in monthly deposits into a high-yield savings account you can reach a certain goal by the time you need to start paying for your wedding. To make the most out of this, you can try living frugally for a short time to maximize your saving input.

Pooling resources

If you and your partner have set aside money separately for the wedding, then you can pool your money together to have a larger budget to work with. If you have family contributing to the funding as well, then they can add their contributions to this pooled amount. This way the money will be spent holistically, or if they choose to purchase something specific, you can strike off items from your planner. 

Additional funding

If saving and pooling resources don’t quite make up your total for the wedding, there are small cash loan options that you can consider. There are apps like Daze that can give you access to funds in a shorter turnaround time and take off the pressure of going through rigorous loan procedures to get the funding. 

The good thing about personal loans is that they can be used for any purpose and thus be used towards funding your dream wedding.

A beach wedding ceremony set up on the sand.
A beach wedding ceremony set up on the sand.

Budgeting for Your Wedding

The easiest way to budget for your wedding is by allocating percentages to each aspect. For example, you can allocate 40% towards the venue and vendors, 15% to food and beverages, 10% to clothing and attire, etc. 

After creating these sub-categories, make a checklist of all the things you require to make your wedding a success, and a capped amount to splurge on each item. 

You can also separate the items into needs and wants, which will give you a better idea of what you can splurge more on and where it is possible to cut corners. 

For example, things like the food, venue, and officiator are all needs that you can’t shortcut. Whereas for items like linen, you can hire through vendors instead of buying it brand new. 

Importance of Tracking Your Spending

Having a budget is one thing, sticking to it is another struggle altogether. There are a lot of temptations, but if you keep track of what you spend, you will have a better idea of where you can funnel more funds into and make sure that you’re not overspending.

One of the most useful tools when it comes to tracking your spending is by using a spreadsheet. It will help keep you organized and keep track of how much you spend, and how much there is left to spend. There are also functions that make the math easier for you to do as well. 

In addition to the spreadsheet, keep a binder for all the physical receipts that you have – this is so that you can account for everything and it acts as proof of purchase or payment if you have any queries to raise with the vendor.

The Bottom Line

Your wedding is the most important day of your life, and while you may be tempted to go the extra mile, it is important to keep a close eye on your budget so that you don’t end up in debt or worse. Tracking your spending, taking out loans for the excess, and having a clear idea of your needs and wants will help you enjoy your wedding fully without being overly concerned about what comes after.

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