Wedded to your savings: a budget-friendly guide to getting hitched.

It’s no secret that getting married can be one of the biggest moments of your life – if not the biggest. And with the average Aussie wedding costing $32,000, it can come at a price. Interestingly, in a 2019 study by ME, 50% of couples said they regretted how much they spent on their wedding.

So how are Australian couples saving in a post-pandemic world and avoiding turning forever vows into financial woes?
 
We chatted with two different brides-to-be – 28-year-old Brisbane-based Kimberley and 31-year-old Sydney sider Brigitta – who shared their advice on how to save and spend your pennies for the big day.

Say ‘I do’ to saving together.

You read that right. When it comes to kick starting your wedding savings, Kimberley and Brigitta agree on three simple steps:

1. Start saving now.
   Even if you’re not engaged yet, every cent counts. Trust ME.

2. Get a joint savings account, stat.
   A high interest savings account like our SaveME is a great place to start, just sayin’.

3. Lock in a budget and realistic timeline.
   This will help you breathe and enjoy the process.

‘We weren’t explicitly saving for a wedding,’ Brigitta shares. ‘We opened up a joint bank account to put reoccurring savings in there for whatever: a future house, wedding or dog!’ After her partner proposed (cue happy tears), they made a budget, downloaded a wedding planner and gave themselves 11 months to get hitched. Noice.

Ask yourself: ‘Is it for Instagram or is it for us?’

Getting engaged in a pandemic gave Kimberley and Brigitta more time to think about their dream weddings. But it also gave them a lot of time to be bombarded by too many options designed for the ‘gram.

‘You can get overwhelmed really easily,’ says Kimberley. ‘We heard this advice which was to choose two things each that are non-negotiable and splurge on that. With everything else, you don't need it.’ For her and her husband-to-be, it meant paying a little extra for jewellery, photography and wine. They were more than willing to compromise on everything else. Sorry, Instagram.

Something borrowed (is better than something you blew).

With your non-negotiables locked in, Kimberley and Brigitta suggest thinking outside of the box. If you’re after a second-hand wedding dress, they both say Stillwhite’s the one. In fact, you could save yourself thousands shopping at this online retailer while gaining a sustainable edge (green looks good on you). The best part is you can sell your dress after your wedding, it’s a win-win.

Another budget-friendly way is to scale back, literally. Kimberley has opted for a wedding ceremony at her grandparents’ home in Brisbane, followed by an intimate reception at a restaurant nearby.

For Brigitta, she’s chosen to send digital invites and rent bridesmaid dresses. ‘We only printed physical invitations for our older guests, which saved us hundreds of dollars,’ she says.

Have your (wedding) cake and home loan too.

It should come as no surprise that these savvy savers have managed to budget for a wedding and a house. Both women have bought properties with their partners in the last year and credit bucket budgeting and keeping an eye on the market as their secrets to success.
 
‘We bought our first property when COVID-19 hit. Then last year when the massive boom happened with house prices, we decided to sell and we got a nice little profit,’ Kimberley says with a smile.
 
So, what’s next for the brides-to-be? Coincidentally they’re both budgeting for a relaxing (and cost-effective!) honeymoon to Bali. We hope they send us a happy couple snap and virtual Piña colada.

Watch your savings stack up with SaveME.

With no monthly fees or confusing criteria, you’ll be crushing your savings goals sooner.