How to save for a wedding

January 27, 2020

These six wedding savings plan tips will help achieve your savings goal for the big day by planning ahead, making a budget and prioritizing expenses.

 

Wedding expenses add up quickly. With dreams of the perfect wedding dress, the latest dessert trend and a killer band, scaling back can be difficult. However, having the right wedding savings plan in place means you can truly set aside guilt-free money for whatever you want at your wedding.

Here’s how you can start saving for an unforgettable day.

 

1. Open a separate wedding savings account 

To successfully begin saving for the big day, consider opening a savings account that’s dedicated entirely to your wedding. It’ll allow you to easily track, monitor and manage the funds for the big day.

 

2. Make a life budget before a wedding budget

If you don’t already have a budget for your regular monthly expenses, now it is a great time to start. This will enable you to see what’s left for wedding savings after all bills are paid.

Decide how much of this discretionary income you and your partner feel comfortable spending on your nuptials. (How much do weddings cost? For reference: the average cost of a wedding in the U.S. was $38,700 in 2019, according to Wedding Wire.)

Next, add in any additional contributions from parents or other family members if they offer. This number will give you a good starting point as you begin planning.

 

3. How to save money for wedding expenses

With a budget in place, now you have to execute it. Every paycheck, transfer the predetermined amount from the budget you established in the previous step to the wedding savings account. Also, consciously cut back on things that would make a worthy trade-off for a dream wedding.

 

4. Establish a timeline

Considering the amount you’re saving for the wedding every month, how long will it take you to reach your goal? Keep that in mind as you start thinking about a wedding date. If it’s not realistic to save everything in six months, perhaps picking a date a year or two out makes more sense.

 

5. Make a wedding budget list

When wedding ideas flood your social media feeds, it’s easy to get caught up in trends and minor details. Instead, sit down with your spouse-to-be and evaluate the elements that are most important to both of you when saving for a wedding.

Maybe your fiancé wants a photo booth, or perhaps flowers are your top priority. Splurge on those items and save on – or completely cut – others. This breakdown gives an idea of budget percentages to spend per category, but adapt it to fit your needs.

 

6. Apply for a new credit card

This does not give you license to bust your budget. Credit cards aren’t free money, but they may be able to help you save some cash.

Look for cards that offer perks like sign-up bonuses and travel rewards. If you put all wedding expenses on the card – and pay it off every month with wedding savings account money – you could rack up some free flights for your honeymoon.

 

Continue reading for more savings tips so you can get started saving for your magical day.

Related content

3 tips for saving money when moving to a new home

Housing market trends and relocation impact

Buying or leasing? Questions to ask before signing a contract

Common pitfalls to avoid in the equipment financing process

Finance or operating lease? Deciphering the legalese of equipment finance

Insource or outsource? 10 considerations

The secret to successful service provider integration

Changes in credit reporting and what it means for homebuyers

Webinar: ESG for Corporations: Building an all-weather, long-lasting strategy

Unexpected cost savings may be hiding in your payment strategy

COVID-19 safety recommendations: Are you ready to reopen?

Safeguarding the payment experience through contactless

Changes in credit reporting and what it means for homebuyers

What’s the difference between Fannie Mae and Freddie Mac?

High-cost housing and down payment options in relocation

ABCs of ARP: Answers to American Rescue Plan questions for counties

Crypto + Relo: Mobility industry impacts

For today's relocating home buyers, time and money are everything

10 tips on how to run a successful family business

How to sell your business without emotions getting in the way

5 steps to take before transitioning your business

How I did it: Turned my side hustle into a full-time job

Costs to consider when starting a business

How to test new business ideas

Talent acquisition 101: Building a small business dream team

How to get started creating your business plan

Make your business legit

The costs of hiring a new employee

How to establish your business credit score

How to expand your business: Does a new location make sense?

Does your side business need a separate bank account?

How to choose the right business savings account

How to manage money tips

How to build a content team

Should rising interest rates change your financial priorities?

LGBTQ+ financial planning tips

Do I need a financial advisor?

Multigenerational household financial planning strategies

5 financial goals for the new year

Key components of a financial plan

How to track expenses

Good debt vs. bad debt: Know the difference

How to manage your finances when you're self-employed

Year-end financial checklist

Good money habits: 6 common money mistakes to avoid

4 reasons estate planning is important

6 tips for trust fund distribution to beneficiaries

How to talk about money with your family

How to protect your digital assets in your estate plan

Financial steps to take after the death of a spouse

Reviewing your beneficiaries: A 5-step guide

Estate planning documents: Living trusts vs. will vs. living will

4 tips to help you save for retirement in your 20s

Key milestone ages as you near and start retirement

Retirement planning in the gig economy

How to build wealth at any age

How to retire happy

Retirement expectations quiz

5 unexpected retirement expenses

Retirement income planning: 4 steps to take

Preparing for retirement: 8 steps to take

The connection between your health and financial well-being

Healthcare costs in retirement: Are you prepared?

LGBTQ+ retirement planning: What you need to know

What is Medicare? Understanding your coverage options

3 types of insurance you shouldn’t ignore

Is a Health Savings Account missing from your retirement plan?

8 steps to choosing a health insurance plan

How I did it: Switched career paths by taking an unexpected pivot

7 things to know about long-term care insurance

Working after retirement: Factors to consider

Transitioning from the military to the civilian workforce

Achieving their dreams through a pre-apprenticeship construction program

Should I itemize my taxes?

4 steps to finding a charity to support

7 year-end tax planning tips

Saving vs. investing: What's the difference?

Investment strategies by age

A beginner's guide to investing

Do your investments match your financial goals?

Can fantasy football make you a better investor?

How to Adult: 5 ways to track your spending

Tips for navigating a medical hardship when you’re unable to work

11 essential things to do before baby comes

3 steps to prepare for a medical emergency

Family planning for the LGBTQ+ community

Preparing for adoption and IVF

Resources for managing financial matters after an unexpected death

Closing on a house checklist for buyers

How to plan and save for adoption and in vitro fertility treatment costs

Webinar: Uncover the cost: Starting a family

Checklist: 10 questions to ask your home inspector

Tips to earn that A+ in back-to-school savings

What you need to know as the executor of an estate

Checklist: financial recovery after a natural disaster

What documents do you need after a loved one dies?

How to save money in college: easy ways to spend less

Webinar: Uncover the cost: College diploma

Student checklist: Preparing for college

Co-signing 101: Applying for a loan with co-borrower

How to gain financial independence from your parents

The A to Z’s of college loan terms

College budgeting: When to save and splurge

5 things to know before accepting a first job offer

Webinar: Bank Notes: College cost comparison

Practical money skills and financial tips for college students

How to build credit as a student

How I did it: Paid off student loans

Annual insurance review checklist

From LLC to S-corp: Choosing a small business entity

Recognize. React. Report. Caregivers can help protect against financial exploitation

Is online banking safe?

Tips for handling rising costs from an Operation HOPE Financial Wellbeing coach

5 ways to maximize your garage sale profits 

3 tips for saving money when moving to a new home

Is raising backyard chickens a good idea financially?

3 ways to keep costs down at the grocery store (and make meal planning fun)

3 financial tools to help automate your finances

Should you buy now, pay later?

Is it cheaper to build or buy a house?

5 tips for creating (and sticking to) a holiday budget

Financial checklist: Preparing for military deployment

Friction: How it can help achieve money goals

6 pandemic money habits to keep for the long term

5 things to consider when deciding to take an unplanned trip

Stay committed to your goals by creating positive habits

Webinar: Smart habits and behaviors to achieve financial wellness

Growing your savings by going on a ‘money hunt’

Working with an accountability partner can help you reach your goals

The mobile app to download before summer vacation

A who’s who at your local bank

Webinar: 5 myths about emergency funds

How I kicked my online shopping habit and got my spending under control

How to decide when to shop local and when to shop online

How I did it: Learned to budget as a single mom

Your 4-step guide to financial planning

5 myths about emergency funds

Tips to overcome three common savings hurdles

Webinar: Common budget mistakes (and how to avoid them)

Does your savings plan match your lifestyle?

Adulting 101: How to make a budget plan

Webinar: Uncover the cost: International trip

What military service taught me about money management

Are savings bonds still a thing?

Webinar: Uncover the cost: Wedding

Webinar: Mindset Matters: How to practice mindful spending

How to save money while helping the environment

3 awkward situations Zelle can help avoid

Allowance basics for parents and kids

How having savings gives you peace of mind

Helpful tips for safe and smart charitable giving

Personal loans first-timer's guide: 7 questions to ask

Save time and money with automatic bill pay

You can take these 18 budgeting tips straight to the bank

3 tips for saving money easily

How can I help my student manage money?

How to best handle unexpected expenses

How to manage money in the military: A veteran weighs in

It's possible: 7 tips for breaking the spending cycle

Which is better: Combining bank accounts before marriage — or after?

Multiple accounts can make it easier to follow a monthly budget

U.S. Bank asks: Transitioning out of college life? What’s next?

Is it time to get a shared bank account with your partner?

Stay on budget — and on the go — with a mobile banking app

U.S. Bank asks: Do you know your finances?

Personal finance for teens can empower your child

U.S. Bank asks: Do you know what an overdraft is?

Do you and your fiancé have compatible financial goals?

Tips for working in the gig economy

9 simple ways to save

Here’s how to create a budget for yourself

How to save for a wedding

7 steps: How couples and single parents can prepare for child care costs

Don’t underestimate the importance of balancing your checking account

5 reasons why couples may have separate bank accounts

Money management guide to financial independence

How compound interest works

5 tips for parents opening a bank account for kids

Tips to raise financially healthy kids at every age

First-timer’s guide to savings account alternatives

Checking and savings smarts: Make your accounts work harder for you

Money Moments: 3 smart financial strategies when caring for aging parents

Dear Money Mentor: How do I set and track financial goals?

Lost job finance tips: What to do when you lose your job

Money Moments: How to manage your finances after a divorce

Money Moments: 8 dos and don’ts for saving money in your 30s

7 financial questions to consider when changing jobs

Myths vs. facts about savings account interest rates

30-day adulting challenge: Financial wellness tasks to complete in a month

Travel for less: Smart (not cheap) ways to spend less on your next trip

Dear Money Mentor: How do I pick a savings or checking account?

How to stop living paycheck to paycheck post-pay increase

Certificates of deposit: How they work to grow your money

Practical money tips we've learned from our dads

What you need to know about renting

What’s in your emergency fund?

6 ways to spring clean your finances and save money year-round

Financial gifts can be a valuable – and fun – choice for the holidays

Understanding guardianship and power of attorney in banking

How to cut mindless spending: real tips from real people

How to increase your savings

Bank from home with these digital features

What financial advice would you give your younger self?

Building a financial legacy for your family and community

What I learned from my mom about money

Using 529 plans for K-12 tuition

Your financial aid guide: What are your options?

How to open and invest in a 529 plan

Is a home equity loan for college the right choice for your student

How grandparents can contribute to college funds instead of buying gifts

Parent checklist: Preparing for college

Be careful when taking out student loans

Consolidating debts: Pros and cons to keep in mind

How to talk to your lender about debt

How to apply for federal student aid through the FAFSA

How to use debt to build wealth

Know your debt-to-income ratio

7 steps to keep your personal and business finances separate

How to use your unexpected windfall to reach financial goals

Overcoming high interest rates: Getting your homeownership goals back on track

Managing the impacts of appraisal gaps in a hot housing market

Crypto + Homebuying: Impacts on the real estate market

For today's homebuyers, time and money are everything

Should you buy a house that’s still under construction?

House Hacks: How buying an investment property worked as my first home

How I did it: Bought my dream home using equity

Buying a home Q&A: What made three homeowners fall in love with their new home

Preparing for homeownership: A guide for LGBTQ+ homebuyers

Saving for a down payment: Where should I keep my money?

Your guide to breaking the rental cycle

How I did it: Built living spaces to support my family

Spring cleaning checklist for your home: 5 budget-boosting tasks

Checklist: 6 to-dos for after a move

What are conforming loan limits and why are they increasing

Webinar: Uncover the cost: Building a home

Money Moments: Tips for selling your home

How I did it: Bought a home without a 20 percent down payment

Military homeownership: Your guide to resources, financing and more

How I did it: My house remodel

Money Moments: How to finance a home addition

The lowdown on 6 myths about buying a home

Home buying myths: Realities of owning a home

4 ways to free up your budget (and your life) with a smaller home

Get more home for your money with these tips

10 questions to ask when hiring a contractor

Dear Money Mentor: When should I refinance a mortgage?

Quiz: How prepared are you to buy a home?

Building a dream home that fits your life

Beyond the mortgage: Other costs for homeowners

What is a home equity line of credit (HELOC) and what can it be used for?

10 ways to increase your home’s curb appeal

Are professional movers worth the cost?

5 things to avoid that can devalue your home

What is an escrow account? Do I have one?

Is it the right time to refinance your mortgage?

What to know when buying a home with your significant other

These small home improvement projects offer big returns on investment

Should you get a home equity loan or a home equity line of credit?

What is refinancing a mortgage?

Webinar: Mortgage basics: What is refinancing, and is it right for you?

Webinar: Mortgage basics: Prequalification or pre-approval – What do I need?

Webinar: Mortgage basics: Finding the right home loan for you

Webinar: Mortgage basics: 3 Key steps in the homebuying process

Is a home equity line of credit (HELOC) right for you?

Webinar: Mortgage basics: Buying or renting – What’s right for you?

Webinar: Mortgage basics: How much house can you afford?

Webinar: Mortgage basics: How does your credit score impact the homebuying experience?

How do I prequalify for a mortgage?

How to use your home equity to finance home improvements

8 steps to take before you buy a home

Home equity: Small ways to improve the value of your home

Webinar: Uncover the cost: Home renovation

10 uses for a home equity loan

Can you take advantage of the dead equity in your home?

6 questions to ask before buying a new home

Improving your credit score: Truth and myths revealed

Credit: Do you understand it?

U.S. Bank asks: What do you know about credit?

Questions to ask before buying a car

Take the stress out of buying your teen a car

What you should know about buying a car

How to winterize your vehicle

Car shopping: Buying versus leasing your next vehicle

How I did it: Deciding whether to buy an RV

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.