Tips for a cost-effective wedding in 2024

Love is eternal – and Spring only comes once a year. Unfortunately for every other bride-to-be, they all want spring and summer weddings too, which comes at a price.

We don’t want to cut corners on our big day, none of us do. Even so, with inflation at all-time highs and cost of living pinching pennies from pockets, emphasising cost efficiency may be the watchword when it comes to planning our nuptuals.

The average Australian wedding costs $36,000 according to MoneySmart – though this could be even higher since the article was written. 82% of couples they surveyed dipped into their savings to fund it,  which could be better spent on practical assets such as a car or home deposit.

Here are some tips for having your wedding cake and eating it too – without spending too much.

Don’t go spending willy nilly

We all want the big wedding with all our friends and family in attendance, talking about how lavish it was for weeks on end. But don’t rack up big credit card bills just because you couldn’t resist. Set a strict budget. If you want to ensure you pay for your wedding within reason, take out a personal loan which you can pay off in time and down to zero over a few years. Different online brokers, such as Savvy.com.au, allow you to compare wedding loans between a range of different lenders to find a
competitive option. With this budget in mind, anything you pay for will be out of your own pocket, which reduces your temptation to overspend.

Combining venues

If you combine your ceremony with your reception – and even consider a Friday or day before a public holiday – you could save a lot of money on venue hire costs. Hiring outdoor venues such as beaches or gardens and setting up marquees can bring down costs by thousands, compared with halls and other venues. Destination wedding packages can also ensure you keep to your budget. Remember to research timing and find a middle ground between great weather and low prices!

Use technology to your advantage

We all think we need a professional videographer or photographer to document every single detail of the day. In this day and age, pro equipment is within reach of enthusiasts – and designating a few shutterbugs or TikTok pros to capture the magic and having it all cut together using an outsourced editor on Fiverr or Upwork can dramatically cut these costs down. Besides, do you really want a cookie cutter wedding video anyway?

Another tip: use online design software such as Canva for your stationery and print it in bulk using online printers – it can save you a bundle!

Mostly borrowed

When it comes to business and other formal gatherings, suits may be a good investment for men, but dresses aren’t always the most cost-effective. You may save a ton of money by renting rather than buying a dress, and you can also consider non-traditional alternatives to the “traditional” wedding accessories such as using local flora instead of set pieces. You may help your friends save money by buying second- hand things from sites like Gumtree or Facebook Marketplace and then paying it forward.

Negotiate and shop around

If you don’t like the sound of that price… someone else will beat it. It may be a pain, but negotiating and playing two (or three, or four) suppliers against one another for the best price can cut down costs dramatically.

Even if it’s a few percentage points here and there, it will all add up. This can come to formalwear, flowers, catering, venue hire – whatever you can get away with! Just remember that you should compromise, but never sacrifice – it’s your big day after all.