paying for a wedding

A Basic Guide to Paying for a Wedding


After the excitement of an engagement wears off, it’s only natural that you take a closer look at what planning a wedding entails. And a major part of wedding planning involves the cost. After all, you can’t plan a wedding until you and your partner agree on a budget.

Before you decide on your budget, though, you need to have a plan for how you’re going to pay for the wedding. While this may seem overwhelming, know that there are simple solutions for creating a payment plan that’s realistic and easy to follow.

In this guide, you’ll learn about what paying for a wedding entails. We’ll cover different payment options, as well as the average cost of a wedding, so you can feel excited about your wedding—rather than stressed over money.

The Pre-work: Getting Started

Before you start figuring out how much you can spend on your wedding, it’s best to decide where most of your money will be coming from.

Traditionally, the bride’s family offers to pay for the bulk of the wedding, although that arrangement may not work for some couples. In this case, the groom’s family typically pays for the rehearsal dinner.

Whether your families are contributing to the wedding cost or not, it’s best to have the money talk ASAP so you have an idea of your budget and how much you and your partner will need to cover. If you two are fronting the cost for most of the wedding—don’t worry.

There are several different payment options that make paying for a wedding less overwhelming than it may seem.

Paying for a Wedding: Different Options

Now, we’ll dive into the different options you have when it comes to paying for a wedding. Luckily, there are a few ways you can split your payments up over time.

Personal Savings

Probably the most common way to pay for a wedding is to make a withdrawal from your personal savings account. While this may not be ideal, most people usually have a good bit of money they’ve saved up over time.

You don’t need to completely empty your savings account, either. It can just serve as an extra source of cash, which you can always replenish over time.

Credit Cards

Another common way to pay for a wedding is with a credit card. You have to be careful with this one, though, as high interest rates can make it difficult to pay the money back over time.

We wouldn’t suggest putting a large portion of your wedding expenses on a credit card, though it may be helpful for smaller expenses like bridesmaids’ dresses or accessories. This is especially true if you have a credit card that uses a points system, where the more you spend, the more credit you earn in airfare or hotel stays.

Then, you can cash your points in for your bachelorette or bachelor trip when it comes time to book plane tickets or a hotel.


If money is tight, you may not have the ability to dip into your savings. In that case, we suggest taking out a loan. Just be wary of high interest rates and the added debt that taking out a loan entails.

Luckily, there are a lot of options nowadays for taking out a loan so you can typically find one that works for you and your partner’s long-term plan.

Retirement Account

Potentially the most unpopular option, drawing from your retirement savings is another option for funding a wedding. Most people don’t wish to do this, however, because your retirement is reserved for later in life. Like with your personal savings account, though, you can always replenish your retirement savings over time.

However, it may give you a mini heart attack to see that number go down, so in that case we would recommend another option instead.

Tips for Wedding Budgeting

Whether you’re on a tight budget or not, there are ways to cut down on wedding costs. Use a budget calculator to determine all of your expenses and the breakdown of each cost. That way, you can stay on track and make sure you’re not overspending or going overboard on one single expense.

You will also want to be as realistic as possible from the start. Have a conversation with your partner about your budget and your overall financial situation. That way, you can head into wedding planning and budgeting with a clear idea of what you can spend.

Additionally, start with the biggest expense. This is usually your wedding venue, which is also one of the most significant expenses as it determines where your wedding will take place (after all, you can’t have a wedding without a proper venue).

If you limit your spending on this expense, then you can feel good about staying within your budget for the rest of the wedding costs.

Finally, make sure to look at the big picture. There are certain wedding expenses that you simply don’t need or can live without. Focus on the ones that will truly make your day a memorable one and leave off others that aren’t necessary to your experience.

Get Financial Help for Your Wedding Today

Hopefully, you now have a good idea of the basics to keep in mind when paying for a wedding. Remember: Paying for a wedding doesn’t have to be overwhelming. Break each expense down and consider your financial situation to make sure you’re making the right financial choice for your family and your special day.

In many instances, couples decide that taking out a loan is the best course of action. Apply for a loan today with Tekaloan. Tekaloan makes sure the loan application process is quick and easy—once you’re approved, you can get your loan deposited the same day!

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