Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • jgeorge1983
    • By jgeorge1983 17th Apr 17, 6:11 PM
    • 2Posts
    • 0Thanks
    jgeorge1983
    Saving for a wedding
    • #1
    • 17th Apr 17, 6:11 PM
    Saving for a wedding 17th Apr 17 at 6:11 PM
    So....I proposed to my girlfriend on Friday, now Fiance. And we're thinking about saving. We're thinking the wedding to be in two years so hoping to put away £500 a month into a savings/ISA account. We will most likely need access to this account to withdraw for deposits before the intended date.

    We're just looking for advice on the best accounts or ways to save anyone can offer.

    Thanks in advance,

    Jay & Jenny
Page 1
    • eskbanker
    • By eskbanker 17th Apr 17, 6:23 PM
    • 4,163 Posts
    • 3,884 Thanks
    eskbanker
    • #2
    • 17th Apr 17, 6:23 PM
    • #2
    • 17th Apr 17, 6:23 PM
    Congratulations!

    The starter article is http://www.moneysavingexpert.com/savings/which-saving-account but regular savers are likely to fit best and give the highest return....
    • jgeorge1983
    • By jgeorge1983 17th Apr 17, 6:53 PM
    • 2 Posts
    • 0 Thanks
    jgeorge1983
    • #3
    • 17th Apr 17, 6:53 PM
    • #3
    • 17th Apr 17, 6:53 PM
    thanks, we'll take a look
    • veryintrigued
    • By veryintrigued 17th Apr 17, 7:19 PM
    • 1,873 Posts
    • 1,125 Thanks
    veryintrigued
    • #4
    • 17th Apr 17, 7:19 PM
    • #4
    • 17th Apr 17, 7:19 PM
    Don't get dragged into the 'must have this, must have that' production line wedding planner scenario where you feel you need to invite a zillion people and spend a zillion pounds.
    • le loup
    • By le loup 17th Apr 17, 8:35 PM
    • 3,473 Posts
    • 3,246 Thanks
    le loup
    • #5
    • 17th Apr 17, 8:35 PM
    • #5
    • 17th Apr 17, 8:35 PM
    We're thinking the wedding to be in two years so hoping to put away £500 a month into a savings/ISA account.
    Originally posted by jgeorge1983
    That's TWELVETHOUSANDPOUNDS.
    Think how you could better use this money rather than spend it on a party for other people. It could give you a terrific entry into a long and happy partnership.
    • Gambler101
    • By Gambler101 17th Apr 17, 11:45 PM
    • 241 Posts
    • 488 Thanks
    Gambler101
    • #6
    • 17th Apr 17, 11:45 PM
    • #6
    • 17th Apr 17, 11:45 PM
    If you manage to save £12000, use £2000 for the wedding, £2000 for a lovely honeymoon, and £8000 towards your future!!!
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
    • Sean473
    • By Sean473 18th Apr 17, 12:22 AM
    • 49 Posts
    • 22 Thanks
    Sean473
    • #7
    • 18th Apr 17, 12:22 AM
    • #7
    • 18th Apr 17, 12:22 AM
    If you manage to save £12000, use £2000 for the wedding, £2000 for a lovely honeymoon, and £8000 towards your future!!!
    Originally posted by Gambler101
    Couldn't say it better... I know someone wasting tonnes of money on a wedding and it's mad... Your better off putting that money towards a house etc,,
    • xylophone
    • By xylophone 18th Apr 17, 12:51 AM
    • 20,935 Posts
    • 12,009 Thanks
    xylophone
    • #8
    • 18th Apr 17, 12:51 AM
    • #8
    • 18th Apr 17, 12:51 AM
    Why not each open a Flexdirect account with Nationwide and use the Flexclusive regular saver?
    • Bravepants
    • By Bravepants 18th Apr 17, 8:01 AM
    • 115 Posts
    • 95 Thanks
    Bravepants
    • #9
    • 18th Apr 17, 8:01 AM
    • #9
    • 18th Apr 17, 8:01 AM
    Congratulations!

    Of course you are free to spend your money how you like, and you and your fiance should have the wedding you want...but I agree with all the posts about not spending so much on your wedding!

    Don't forget that it's YOUR and your fiance's day first and foremost and a day for your families' second. Small and intimate is just as good as (if not better than) large and lavish!

    Don't fall for the £50 (or more) a pop flower arragements for each table! About 10 years ago a couple of friends of my partner's from college got married. They are Indian and they had about 6 different celebrations (paid for by parents) across India (for the various cousins and friends of friends etc.). Then they had one in the UK for all their British friends. We went along, it was great! It was set up in some golf course on the edge of London and was catered by an Indian Restaraunt from Knightsbridge. There were about 300 guests. I believe that celebration alone cost £40,000! They are now divorced! My partner and I thought they didn't look too happy as they greeted the arriving guests and we were right!

    Concentrate on your future not just the one day of your life.

    Regular savings accounts seem your best bet though for any amount of cash you want to save for the short term.
    Last edited by Bravepants; 18-04-2017 at 8:15 AM.
    • kidmugsy
    • By kidmugsy 18th Apr 17, 9:08 AM
    • 9,180 Posts
    • 6,007 Thanks
    kidmugsy
    So....I proposed to my girlfriend on Friday, now Fiance. And we're thinking about saving. We're thinking the wedding to be in two years
    Originally posted by jgeorge1983
    Just elope and get married now. Weddings are a humungous extravagance. Have a celebration party for family and friends on your return.
    • Pincher
    • By Pincher 18th Apr 17, 9:32 AM
    • 6,375 Posts
    • 2,412 Thanks
    Pincher
    Get the parents/grand parents to pay for it, to reduce their assets.

    Reducing the estate to cut down on 40% inheritance tax. So, if they contribute £10,000 , £4,000 is from the Treasury.

    The council cannot claim this is deliberate deprivation of assets, for the purpose of avoiding care home costs. Or can they?

    You can always pay them back or just support them in their old age.
    What happens if you push this button?
    • Sceptic001
    • By Sceptic001 18th Apr 17, 10:19 AM
    • 1,088 Posts
    • 836 Thanks
    Sceptic001
    Charley Nichols (Walter Matthau) in House Calls (1978): 'A date you can look at as a non-recurring expense; a wife is overhead .'
    • ringo_24601
    • By ringo_24601 18th Apr 17, 10:27 AM
    • 16,581 Posts
    • 26,793 Thanks
    ringo_24601
    That's TWELVETHOUSANDPOUNDS.
    Think how you could better use this money rather than spend it on a party for other people. It could give you a terrific entry into a long and happy partnership.
    Originally posted by le loup
    One man's waste is another's lovely memorable day with all the trimmings. He's sensibly planning to save the money rather than borrow it.
    • leespot
    • By leespot 18th Apr 17, 10:46 AM
    • 459 Posts
    • 351 Thanks
    leespot
    Congratulations. As others have said, plan the costs carefully, there is no right or wrong way of doing it - the wedding is your special event. We've been engaged 3 years this month and after saving up decided to put any savings we had towards a property rather than a wedding - best thing we ever did.
    • justwingingit
    • By justwingingit 18th Apr 17, 8:33 PM
    • 4 Posts
    • 6 Thanks
    justwingingit
    We're in the same boat, we booked our wedding in January after getting engaged in November 2015 and now we have to save £12,000 by next June!

    I wouldn't use an ISA as the interest rates are totally dire, I'd do some shopping around to get the best deals. At the moment, we have a Santander 123 joint account with 2 regular savers with an interest rate of 5% (but you can only put in a maximum of £200 each per month). I would definitely recommend these and there are some other accounts you can try with high interest rates but they often have a minimum pay in of £500 - £1000 per month.
    • Gambler101
    • By Gambler101 18th Apr 17, 10:01 PM
    • 241 Posts
    • 488 Thanks
    Gambler101
    Wedding extravagance and fireworks displays, money just goes up in smoke IMO. And both are forgotten the next week.
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
    • elephantrosie
    • By elephantrosie 19th Apr 17, 12:21 AM
    • 132 Posts
    • 38 Thanks
    elephantrosie
    my friend took a loan of 25k quids for his wedding.

    he subsequently paid back the loan within six months (and on top of that an additional 20k savings).
    • Eco Miser
    • By Eco Miser 19th Apr 17, 1:29 AM
    • 2,728 Posts
    • 2,537 Thanks
    Eco Miser
    there are some other accounts you can try with high interest rates but they often have a minimum pay in of £500 - £1000 per month.
    Originally posted by justwingingit
    Which is absolutely no problem if you're saving £500 a month. Hint: you have to pay the money in, you don't have to leave it there. Discussed many times on this board.
    Eco Miser
    Saving money for well over half a century
    • ani*fan
    • By ani*fan 19th Apr 17, 5:41 AM
    • 1,427 Posts
    • 3,363 Thanks
    ani*fan
    Hi there OP

    Congratulations on your engagement! What a lovely thing.

    I would ignore all the advice about having a smaller wedding. Do what you want, and in my opinion a wedding is very hopeful and a positive experience for everyone there. If you want a day to remember and can pay for it, then go for it.

    You'll need a mix of savings accounts. You have 2 years to save so will have time to make some good interest on linked savers that lock your money in for a year. Make good use of these.

    You'll also need instant access savings where the interest doesn't matter so much because you'll need to spend the cash as you go.

    Some of the things requiring probably around 10% deposit and then full payment a month or so before the wedding are the venue, the food and the band. Things you'll need to pay for as you go are the dress and other outfits and the rings.

    Once your budget is sorted out you'll know how much needs to go where. Best of luck and have a great day.
    If you know you have enough, you're rich.
    • le loup
    • By le loup 19th Apr 17, 9:17 AM
    • 3,473 Posts
    • 3,246 Thanks
    le loup
    I would ignore all the advice about having a smaller wedding.
    Originally posted by ani*fan
    Great advice on a money saving website.
    (Unless your business is as a wedding planner.)
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

22Posts Today

3,789Users online

Martin's Twitter