Financing a Wedding

Planning your big day can be both exciting and challenging. Before getting carried away with the perfect venue and preparing your guest list, work out how much you can realistically afford, set your budget, and explore the following tips to finance your wedding.

Please remember to spend responsibly and only buy what you can afford to repay. If you have an American Express Credit Card, you won’t pay any interest on purchases if you pay off your balance in full every month by the payment due date. If you are just making your minimum payment on a Credit Card, it will take you longer to clear your balance. If you have an American Express Charge Card, please refer to your current Cardmember agreement for payment details. You can find information about managing your Account in our online Help Centre.

How to Pay for a Wedding

Wedding Finance

So, how do people pay for weddings? It’s all about budgeting.

Set a realistic budget and stick to it

The Discuss how much you can afford with your partner, taking into consideration your savings, as well as the amount you’re both willing to put towards the ceremony. Create a detailed spreadsheet, including the venue deposit, catering, clothing and everything else you’ll need to pay upfront. Don’t forget to factor in unexpected expenses and smaller costs for invitations and flowers.

 

Find out more on how to budget for a wedding here.

Use your savings

If applicable, using an amount that you may have saved can be the cheapest way to pay for your wedding, as you can avoid interest fees that come with borrowing money. Paying upfront for as many expenses as possible might also be a good idea to reduce costs. 

 

And if you don’t? Once you have a realistic idea of your budget and how much you’ll need to put aside, start a savings account. This could also help you reduce how much you want to borrow.

 

Get tips on how to get married at a lower cost

couple sitting at the garden

You can consider taking out a personal loan

A personal loan will allow you cover all, or some of, your wedding expenses, but you’ll have to pay interest on it. This means you’ll need to repay the monthly instalments during a set amount of time, which could increase the overall cost of your wedding.

 

To decide if that’s the right option for you, you need to consider if you’ll be able to afford your repayments in case your circumstances change. The amount you’ll be able to borrow depends on your personal financial situation, but to find the best deal, remember to check your credit score and eligibility, look for additional fees and early repayment charges and shop around for the cheapest deal.

Consider using a credit card

Credit Cards can offer flexibility and convenience when planning your wedding, providing that you’ll be able to pay them off immediately.

Earn Rewards

Credit Cards also give you the chance to personalise your advantages and spend your rewards as you wish. For example, with American Express® Cards you’ll be able to earn cashback, multiple reward points and miles. You can then redeem these for travel or entertaining experiences, retail shops and so much more.

 

Example Card: The American Express® Preferred rewards Gold Credit Card APR: 88.3% Representative.

 

To avoid starting your marriage with debt, never borrow more than you can afford to pay back

Protect your purchases

Plus, with a Credit Card you can rest assured that your purchases are being protected if there are any issues with undelivered goods or services charged to your Card.

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