Saving for a wedding

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  • Sceptic001
    Sceptic001 Posts: 1,111 Forumite
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    Charley Nichols (Walter Matthau) in House Calls (1978): 'A date you can look at as a non-recurring expense; a wife is overhead .'
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Holiday Haggler
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    le_loup wrote: »
    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.

    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
    leespot Posts: 554 Forumite
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    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
    justwingingit Posts: 4 Newbie
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    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
    Gambler101 Posts: 580 Forumite
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    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 :D:D
  • elephantrosie
    elephantrosie Posts: 467 Forumite
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    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).
    Another night of thankfulness.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    justwingingit wrote: »
    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.
    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
    ani*fan Posts: 1,554 Forumite
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    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
    le_loup Posts: 4,047 Forumite
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    ani*fan wrote: »
    I would ignore all the advice about having a smaller wedding.
    Great advice on a money saving website.
    (Unless your business is as a wedding planner.)
  • Monika333
    Monika333 Posts: 27 Forumite
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    I know a lot of people think that it is too expensive to hire a wedding planner, but in my opinion, it is possible to address a professional in order to choose a kind of wedding and find out how much money you will need. My husband and I did the same way when we were going to get married. We were on a budget and couldn't calculate the needed sum by ourselves, so we addressed a wedding planner (http://www.vegasweddingsplanner.com/) who helped us a lot. But it's only my opinion, maybe you think different.
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