How to save money on a wedding: Tips to achieve your dream day

You can't put a price on love, but weddings are another story. The average cost of a wedding is around $33,000. It's possible, though, to balance your dream celebration with a realistic budget—and start your new life together on a solid financial foundation.

It's important to realize planning a wedding isn't only about cost. It's also about aligning spending with your values to ensure your big day reflects what truly matters to you and your partner.

Whether you're looking at how to save money on a wedding or how to manage costs without sacrificing something important to you, making a wedding budget can be worth it. After all, one of the best gifts you can give yourself is protecting your savings for the new life you're creating together.

Without a well-defined budget, wedding costs easily can spiral out of control, leading to overspending and potential financial strain. Creating a comprehensive budget is crucial for managing expectation, tracking costs and ensuring your wedding aligns with your financial goals. It may be easy to go with the "average" when it comes to wedding spending, but having a well-defined budget that fits you and your partner's financial situation can help you stay in control and focus on what matters to you both.

A wedding budget has several purposes. It's not merely about minimizing expenses; it's about making informed financial decisions that reflect your priorities and support your long-term financial well-being as a couple. A well-crafted budget empowers you to allocate resources effectively, avoid unnecessary debt and start your marriage with a strong financial foundation. For example, the typical wedding cake can cost $540, but maybe it would mean more to you if a loved one bakes an old family recipe as a favor. By prioritizing what matters to you, you can determine how to make the most of the money you have and make the day extra special.

A wedding budget also helps answer a key question: How much should you save for a wedding? While every couple's answer is different, creating a spending plan can let you focus on what matters to you and can keep you from sinking into debt for things you don't really care about. Having these discussions together can encourage open communication about money, set shared priorities and build strong financial habits that can serve you well throughout your marriage.

The average wedding cost can be deceptive, as expenses vary significantly based on factors such as geographic location, the number of guests, venue selection and individual preferences. It's important to research typical costs in your area and align your expectations with your financial capacity. Consider exploring alternative options, such as non-traditional venues or off-season dates, to manage costs effectively. Generally, the more guests you have, the higher the cost. The average cost per guest can be over $280. Smaller and less formal weddings tend to be more affordable.

As you explore how to save for a wedding, discuss financial expectations with your partner. Aligning your must-haves versus where you're willing to cut back can lead to a realistic budget that reflects your shared vision while staying on track with money. When you're both on board, anything from reducing the guest list to choosing a more affordable venue to reimagining wedding favors or centerpieces can add up to big savings.

Tracking your budget and expenses is easier when you have the right tools. While some couples are happy with a simple spreadsheet, there are plenty of apps specifically designed for wedding planning that let you monitor costs and spot any potential red flags if things sneak over the budget line. A financial advisor is another valuable resource. They can work with you to determine a budget that meets your wedding vision and ensures your future financial goals are on track.

If you're looking for a free, values-based approach to financial planning, Thrivent's Money Canvas is a financial coaching program that can help you manage your money with confidence.

A beautiful and meaningful wedding doesn't have to come with an overwhelming price tag. Thoughtful planning and creative choices can help you celebrate your big day without sacrificing your financial future. You can cut costs while still making your wedding meaningful.

The key is to focus on what truly matters to you as a couple. Here are some practical strategies for saving on wedding expenses.

Opting for a smaller, more intimate wedding allows you to prioritize meaningful connections with your closest loved ones. This approach not only enhances the overall experience but also contributes to significant cost savings across various aspects of the wedding, including catering, venue rental and stationery. Consider limiting invitations to close family and friends while offering virtual options for extended family or acquaintances.

Some couples opt for micro weddings—a smaller-scale event that prioritizes the experience over the headcount. This approach can lower venue, catering and rental costs while making the event feel special for everyone involved. If you have a large family, you also might consider having a small ceremony and allowing more guests at the reception or vice versa.

Where and how you celebrate can have a major impact on your budget. Instead of a traditional large banquet hall, consider venues like parks, museums, libraries or art galleries. Many unique locations cost less than dedicated wedding venues and can add a distinct personal touch to your celebration.

Food costs also can add up, but you can explore creative catering alternatives. Some couples opt for buffet-style meals, food trucks or even potlucks, which can be a great way to involve your community and ensure everyone enjoys their favorite comfort food. If a sit-down meal is a must, consider a brunch or lunch menu, which is usually more budget-friendly than a dinner.

Your wedding attire doesn't have to break the bank. Renting or borrowing, buying pre-owned outfits or having a skilled friend or family member help create your outfit can save you money while still allowing you to look your best. Especially online, you can find sites and stores that sell high-quality, pre-owned gowns, tuxedos and accessories at a fraction of the price.

Personal touches also can go a long way without added costs. Consider DIY elements or incorporating borrowed items from friends and family, like jewelry, veils or accessories passed down through generations. This can help you save money on your outfit and add a sentimental touch.

Embracing do-it-yourself projects can help cut costs while making your wedding feel personal. Handmade invitations, centerpieces and favors reduce expenses and embrace creativity. Getting your friends and family involved can make wedding prep more meaningful. Host decorating parties or favor-making nights, or tap into your community's talents for photography, baking and entertainment.

Flowers are another great opportunity for cost savings. There are plenty of ways to save money on wedding flowers, such as choosing in-season options, creating DIY floral arrangements or sourcing from local farms, which can help lower costs while still achieving a beautiful aesthetic.

Saving for a wedding requires planning and some discipline, but small steps can make a big difference over time. Setting aside dedicated funds and finding creative ways to boost your savings can help reduce financial stress during the planning process.

Here are a few ways to increase your wedding savings without compromising your long-term financial goals.

One way to stay on track is to set up a separate savings account specifically for wedding expenses. Keeping these funds separate from everyday spending helps you track progress, avoid overspending and earn interest while you save.

High-yield savings accounts and certificates of deposit (CDs) can help your money grow predictably over time. Automating contributions, such as setting up a direct deposit from each paycheck, is another way to stay consistent without having to think about it each month.

If you're wondering how to save for a wedding while managing other financial responsibilities, consider small but impactful ways to increase your savings. Reducing nonessential expenses, like dining out or subscriptions, can free up extra cash in the short term.

Some couples take on side hustles or freelance work to bring in extra income for wedding costs. Even small actions, like selling unused items or moving a portion of work bonuses or raises into your wedding fund, can add up over time.

As you increase your wedding savings, keep your broader financial goals in mind. Contributing to your emergency savings, retirement or other long-term priorities helps you start your marriage on solid footing.

Beyond traditional savings, some couples turn to creative funding options to help with wedding expenses. For example:

• Cash gift registries let guests contribute directly to wedding costs or experiences rather than buying gifts.
• Honeymoon funds give couples a way to redirect wedding gift contributions toward travel and experiences.
• Crowdfunding platforms may work for couples who want a community-driven approach to funding their special day.

These options can ease your financial burden. But it's also important to approach them with transparency. Thoughtfully communicating about how contributions will be used can help your loved ones feel involved and more comfortable with unconventional options.

Your wedding celebration is a reflection of your shared values and priorities as a couple. From the way you spend your budget to the vendors you support, financial decisions are an opportunity to align your wedding with what matters. Incorporating your values into wedding planning can make the day even more impactful.

Consider how your choices can support your personal beliefs and priorities. Some couples focus on supporting local vendors, prioritizing community engagement by hiring small businesses, independent artists or minority-owned vendors. Aligning wedding expenses with your values also connects to other financial habits.

Developing a thoughtful financial decision-making process can help you navigate major life events with confidence. Also, taking time to reflect on what financial values matter most ensures your spending supports your long-term goals as a couple.

A wedding provides an opportunity to give back and strengthen the community. You may want to incorporate charitable elements in the event, such as:

• Donating to a cause instead of spending on favors
• Partnering with nonprofit vendors
• Hosting a volunteer event in the wedding weekend itinerary

These decisions can help provide even more meaning to your celebration and help strengthen your community. Choosing local vendors, donating to area nonprofits or incorporating giving back into your wedding can extend far beyond the big day. These choices can help you create a wedding that's joyful, a reflection of the values you share and an investment in your community.

Your wedding marks the commencement of a lifelong journey together, and the financial decisions you make during this period can lay the groundwork for a secure and fulfilling financial future. By embracing responsible budgeting, prioritizing your values and engaging in open financial communication, you establish a solid foundation for long-term financial success as a couple.

Open conversations about money with your partner are essential—not just for wedding planning but also for building a strong foundation together. Consider meeting with a Thrivent financial advisor to help identify and prioritize your financial goals and create a plan for long-term financial success.