Set a Wedding Budget | Royal Bank of Scotland

 

 

How to create a wedding budget

We know it’s not very romantic but you should start planning your big day by creating a budget. With the average cost of a UK wedding being about £22,000, it’s a good idea to do your sums before you get carried away.

First, look at how much you can afford and how much you want to spend. Do you already have some money set aside? Would either of your families like to contribute? Do you need to start saving? Use our budget calculator to work out how much you can save each month and set up a savings goal so you can track how long it’s going to take to reach your target. Once you’ve decided on a realistic figure, be strict on yourself and stick to it.

To create your budget, write down everything you need to spend money on in a spreadsheet. Include a column for both your budgeted cost and the actual cost so you can keep track of your spending easily.

To work out your costs, you’ll probably need to guess, as it will depend on how many guests you invite, style of the wedding, date, and the venue you choose. Do some research, get some quotes and ask recently married friends and family for advice.

Lynsey from Royal Bank of Scotland is getting married soon and recommends you use a budget planner.

I've found loads of online budget planners that are free to download. They're really helpful to dig down into what you need to consider buying or hiring and track your finances in each area.

 

 

The average cost of a wedding is £22,000 but setting a budget and shopping around can help you cut your costs.

Source: You and Your Wedding magazine - National Cost of a Wedding Survey 2013.  

Wedding planning top tips

 

 

Useful links

There's a lot to think about when planning the best day of your life. Here are some useful links to help you get organised.

Practical tips on keeping wedding costs down
Money Advice Service  

Advice on legal issues and marriage
Citizens Advice  

These links are to non-Royal Bank of Scotland websites. Royal Bank of Scotland is not liable for the accuracy of the information provided on these websites. 

Add your signposting title here… Helping you plan the big day

With a bit of looking ahead and shopping around, the best day of your life doesn't need to be more expensive than you can afford.

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