How you can afford the wedding of your dreams

Helping you plan with care for the people and moments that matter

If you or a loved one recently got engaged, congratulations!

Whether your big day is in a few months or a few years, financially planning for a wedding is a big achievement for many couples in budding relationships. It may take some work, time, and tough conversations, but on the other end of it all, waiting for you both is likely one of the most special days of your lives.

A wedding is an occasion for you and your future spouse to begin making joint financial decisions, a skill that will set you up for a harmonious marriage.

“Keep the wedding weekend in perspective. The wedding is a celebration of the beginning of a lifelong journey. An expensive wedding is not required for a happy marriage,” said Travis Taylor, financial advisor and CERTIFIED FINANCIAL PLANNER® professional with Wells Fargo Advisors. “Work together to identify what’s important, what can be afforded, and how to achieve your combined vision.”

Here’s how you and your partner can plan your wedding and afford your big day.

1. Create a list of your priorities

   Prioritize what’s important to you both by making a list of all the things you’ll spend money on.

   These pieces may include renting a venue, food, music or entertainment, photography, decorations, and/or wedding attire. Consider if you need to budget for any of you and your future spouse’s cultural, religious, or family traditions, too.

2. Reconcile your goals with your partner’s

   Your goal should be to generate a guide to planning a beautiful day that will make you and your future spouse happy — and stay on budget.

   For example, if you and your partner both rate the wedding venue as a low-spend priority, you could consider a backyard ceremony. If having bucket list entertainment or experiences are of high-spend importance, maybe a destination wedding is in the cards.

   If you two think different pieces are more or less important, take a moment to discuss why you both feel that way. It’s possible that what’s really important to you or your partner isn’t the thing itself, but what it represents, so it can be satisfied without spending a lot of money or sacrificing something else.

   For example, if you treasure the idea of having a video of the big day but hiring a videographer is a stretch financially, you could try working with your venue, photographer, or even a tech-savvy loved one.

   If the priority is simply to capture a cherished memory, it’s possible that it can be fulfilled with a less expensive, albeit lower-quality, version. Then you and your partner can focus your budget on shared priorities.

   “Understanding why a specific aspect of a wedding is important to your partner is crucial to being able to find an appropriate compromise. You may be able to accomplish the same goal with something that doesn’t cost quite as much,” Taylor said.

   Jaclyn Smith, Senior Wealth Strategist with Wells Fargo Wealth & Investment Management, echoed “This may also lead to other helpful conversations at this stage of your relationship. Discussing your overall goals for your big day might lead to a deeper conversation about your long-term goals as a couple.”

3. Do your research

   Now that you have a roadmap for what’s important, it’s time to tap any experts around you for wedding wisdom. It could be a natural follow-up question after you give them your engagement news.

   “Ask every married couple you know: What was the biggest win that you’re proud of? What was the biggest miss that you wish you would’ve done?” Taylor said.

   Think about events or celebrations — weddings or otherwise — you’ve attended or seen on social media. Did a friend or colleague rave about their caterer? Does Mom have a wedding dress or ring to pass down? Do your families have connections to an officiant or venue?

   Every piece of advice or lead you collect can help you and your partner learn how much to budget and even what, if anything, you can immediately take off your list of costs or things to plan.

Try not to overthink this question. The wedding you plan should be the wedding you, your future spouse, and any supportive loved ones can afford.

Most couples will not have combined their finances or opened joint accounts by the time they’re engaged and planning a wedding, Taylor said, so deciding how much you can afford will typically be a joint decision you come to together.

“This may be a good time to start conversations with a financial advisor about your dedicated budget for your wedding and your financial plans post-wedding,” said Smith.

Here’s one strategy to figure out your answer.

Create a list of funds

To find out how much you both can afford, break out your notepad again and make a list with three columns.

The first bucket will be how much you and your partner currently have saved up that you’re willing to set aside for the wedding. This doesn’t have to be cash in a bank account. It could include stocks, investments, or other assets you’re willing to withdraw, but it shouldn’t mean parting with your emergency funds.

“As a part of this first bucket, you may want to coordinate with your tax advisor or financial advisor to understand any tax implications that may result in using stocks, investments, or other assets to use toward your wedding fund,” Smith said. 

The second is for support from family or loved ones (see next section). How much can your circles put toward your wedding? It’s important to consider you and your partner’s cultural, religious, or local traditions. In some families, it may be customary for one side of the couple to cover certain costs, like the venue or rehearsal dinner. Even if families tend to follow those customs, they may not be able to afford it. Open dialogue is key, Taylor said.

Lastly, the third bucket is future money you’ll both be able to save between now and the wedding. Consider a regular savings goal that feels comfortable. Balance that with any gifts, bonuses, or other income you expect to receive, including ballpark tax returns if you both plan to get those in time.

Total each column up and add your partner’s numbers to get your initial answer. Return to these lists if you have updates along the way.

Discuss financial support with family and loved ones

Taylor recommends starting an open dialogue with family members early on to find out if or how they can support you and the wedding. One strategy is to come to them with your budget so they know where they fit in. They could even pay vendors directly if they want to cover food or an open bar, for example.

“Family members will appreciate being approached with a plan rather than being asked for a blank check,” he said.

Ask them what traditions or customs are important to them. In Taylor’s family in Kentucky, it’s customary for a groom’s family to pay for the rehearsal dinner.

“It was really important for my parents that they paid for that because it was rooted in tradition. This was their contribution to the wedding,” he said. “Parents could come with their preconceived traditions that they want to pay for. It’s also possible they may not have enough to able to achieve the vision of the couple.”

How you want loved ones to contribute is up to you both. For any tax-advantaged strategies, family members or loved ones should talk to a financial advisor and tax advisor, Taylor and Smith said. The annual gift tax exclusion is $19,000 per person or $38,000 per couple in 2025, said Smith.

Is wedding debt worth it?

For Taylor, debt is a “non-starter” and recommends couples avoid relying on personal loans or other kinds of debt to pay for their wedding.

While you may opt to use a credit card for points, cash back, or other rewards, it’s not worth it if you end up carrying over a balance and accruing interest, he said. That may risk making your big day more expensive.

“The use of debt, especially long-term debt, should be off the table for everyone,” Taylor said. “You should not be celebrating your first anniversary by paying for a wedding that occurred a year ago. You should be celebrating a year of marriage.”

“Financial planning may help you understand your expectations and needs for short- and long-term expenses. Planning these expenses out can help you stay on track with dates for making deposits and final payments so you can plan accordingly,” said Smith.

Some couples may consider paying for their big day using their wedding gift registry or fund. While Taylor still recommends avoiding debt, he said couples should feel encouraged to get inventive, if need be.

“You could get creative around how you request gifts from family and attendees, such as choosing to fund specific parts of your wedding or honeymoon,” he said.

How to save for a wedding

Once you’ve decided how much you’re approximately budgeting for, you can start saving with that target in mind.

If you know the total sum you and your partner need to save, a strategy to consider is dividing that number by how many months or paychecks you have until the day most of your bills will be due. Then set up an automatic transfer to consistently set aside money in a savings or other dedicated account.

“You shouldn’t really change much about your way of life except for knowing, ‘I’ve got to save X dollars a month between now and X months from now so that we hit that goal,’” Taylor said.

How to pay for a wedding

A wedding is one of life’s biggest moments, and for some it might be among the most expensive, too. Even after you and your future spouse have made a budget and plan to save money, it’s worth considering how you plan to make the transactions to pay for the big day.

While you’re budgeting to cover a large total amount, realistically that number will be broken down into many smaller payments, each with various deadlines. However, knowing where your money is begins to be especially important a few months before your wedding day because that’s when many vendors typically start to require a full or partial payment or deposit. Others may require regular payments over a longer period.

If earning interest on your money is a priority — or even part of your savings strategy — a liquid money market fund or high-yield savings account may be a good option because you’ll still be able to access those dollars relatively quickly by withdrawing your money, typically back into a checking or savings account.

Avoid relying on money that’s tied up in an investment or retirement account, both Smith and Taylor said, as those funds might take longer to access, incur fees or taxes, and carry the risk of losing value due to swings in the market.

“Your goal is not earning a return,” he said. “Your goal is safety, liquidity, and availability.”