How to pay for your wedding
Just got engaged? Congratulations! Now it’s time to start planning for the biggest day of your life. Whether you want an extravaganza with hundreds of guests or an intimate affair with just your nearest and dearest, a designer dress or a romantic honeymoon, it’s no secret that weddings can be expensive — no matter how big or small. But if you’re wondering how to pay for your wedding, there are loads of options to help make your dream day a reality.
Wedding costs to consider
The average Australian wedding costs about $36,000*. Whether you're working with a small budget or a big one, it’s worth getting a handle on potential costs sooner rather than later so you can figure out where to spend and where to save. Here are a few wedding expenses to consider:
The dress
Your dream dress could come with a hefty price tag. A custom design will cost you more, so choosing a display off-the-rack or a secondhand dress could be a good way to save (but make sure to factor in the cost of any alteration).
The reception
From the venue to the menu, your wedding reception is likely going to be the most expensive party you’ll ever throw. The number of guests you decide to invite will impact everything from the size of the venue to how much champagne you’ll need to buy. Keeping your guest list down isn’t the only way to save here — you could also consider having your wedding outside of the peak seasons (autumn and spring) or even on a weekday, which can make it cheaper to hire a venue.
The honeymoon
If you’re planning to head off on your honeymoon right after your reception, you should factor it into your wedding costs, too. The cost of your honeymoon can depend on where you want to go and how long you plan to be away.
3 ways to pay for your wedding
Paying for your wedding doesn’t need to be a headache. There are several options available, including savings, credit cards and personal loans — or a combination of the three. Let’s take a look a a few of the options:
1. Savings
How much do you already have in the bank? Think about how much you have now and how much you could realistically save in the time leading up to your wedding. If you’re lucky enough to have friends or family contributing to your wedding, you should take this into account too.
2. Credit card
You might want to use your credit card to pay for some of your wedding expenses — there could even be advantages to paying for things like your honeymoon on your credit card if you earn points or other benefits. But it’s important to consider that you’ll need to pay off your credit card within any applicable interest-free period or a high interest rate might be payable.
3. Wedding loan
Did you know you can take out a personal loan to help you pay for your wedding? About 60%* of Australians (as of June 2024) take out a wedding loan to help them with their wedding costs. Loans let you spread the repayments over several years — so you don’t need to worry about emptying your savings to pay for your big day.
Looking for a wedding loan?
Find out how much you could borrow for your big day with a wedding loan from Plenti.