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How to Pay for Your Wedding

by sambit

Your wedding is likely to be one of the most significant financial undertakings you experience in life. Given this, it’s not surprising that so many people are unsure of how to finance their wedding and harbour concerns about how their big day will affect their personal finances.

But like other aspects of your life, deconstructing your wedding expenses makes it much easier to figure out a suitable payment plan.

In this post, we provide you with guidance on how to put together a wedding budget before detailing several funding options for your dream day.

If you’re considering a flexible loan of between £1,500 and £12,000 to help finance your wedding, use our loan calculator or submit an application at www.koyoloans.com – Representative APR 27%.

How to decide upon your wedding budget

Each wedding is unique. Your unique wedding might take place in your auntie’s backyard with humble catering and your best mate as the DJ, while your friend is attracted to the glamour of a country estate with a swanky restaurant and a live band.

Therefore, your first consideration should be what you want your wedding to look like. We’ve listed some of the typical costs involved with weddings in the UK, so consider the following as a rule of thumb:

  • Venue hire £4,750
  • Food and drink for your guests £3,250
  • Photographer £1,250
  • Band/DJ hire £1,790
  • A wedding dress £1,100
  • Flowers for the venue £1,000
  • Bride hair and makeup £600
  • A wedding cake £300

Source: Taken from www.weddingplanner.co.uk

When compiling your budget, you should also think about the following costs:


Most couples jet off on their honeymoon soon after their wedding ceremony, but others delay the event for a few months to give them a chance to save some more money. Similar to the wedding, a honeymoon can be arranged on a tight budget or maybe extremely expensive.

Typically, people look to make the most of their honeymoon and tend to plan a truly once-in-a-lifetime trip that they will cherish forever. This often leads them to spare no expense, so you will need to plan your expenses accordingly if you’re planning a fancy honeymoon. According to Bride Magazine, couples often spend in excess of £4,000 on their honeymoon.

Hen/Stag Parties

Known in the US as bachelor/bachelorette parties, stag and hen dos are celebrations between the bride and her friends and the groom and his. Back in the day, a night in the local was sufficient, but it has grown in recent years to become a weekend away in a European city or something equally as lavish.

Nowadays, stag and hen parties are expensive, even if you’re only paying your share of the bill. Metro estimates that the average cost of a hen or stag does is £200 per person.

Wedding insurance

The outbreak of Covid-19 has taught us all one thing in particular – the importance of planning for unforeseen circumstances. Therefore, wedding insurance should be considered as a must for couples about to tie the knot, as you never know what’s around the corner. There’s a big market consisting of many wedding insurance providers, and you can even utilise wedding insurance comparison sites to help you find the best deal.

Who traditionally pays for a wedding?

In the UK, it’s customary for the bride’s parents to pay for the wedding of their daughter, while the groom is responsible for the honeymoon. In the present day, these distinctions have blurred, and couples tend to come to their own arrangements. As such, you might find that the groom’s parents are willing to chip in, resulting in both sets of parents footing the bill for a wedding. In some instances, the couple themselves will pay for their own wedding without help from their parents.

Perhaps the most important consideration here is communication between everyone involved in the wedding. Families need to understand each other, so you need to be clear about who’s footing the bill before getting carried away with arrangements.

Four ways to pay for a wedding

Now that you have a good idea about how much your wedding is likely to cost, you need to think about how you will pay for it. In the section that follows, we introduce some of the most common ways of paying for a wedding – including wedding loans – and provide the pros and cons of each option.


Providing you have the money at hand, using your savings will always be the best way to pay for your wedding. This is because you won’t have to pay the interest that comes with borrowing money, as you will be using cash that you already have available.

Therefore, if you can cover the costs of your wedding from your savings account, you’re in a great position. Just remember to leave aside some money for emergency costs, so don’t entirely deplete your savings.

Ask your family to contribute

You might find yourself in the fortunate position of having family members and friends who are happy to chip in and contribute to the costs of your wedding. While this is great, you may need to be willing to relinquish some control over the day, as everyone has their own opinions on how things should happen!

Use a credit card

Using a credit card is an attractive option for some people, as it enables you to put off the payments for your wedding until a late date. But is it a smart move?

When used efficiently, credit cards can be a helpful money management tool as they allow you to spread the cost of a particular expense. However, if you fail to meet the repayments on your credit card, you’ll be faced with high-interest rates that could spiral out of control.

If you’re planning to use a credit card to pay for your wedding, consider looking into Section 75 Protection, which covers the provision of services and goods in the lead up to your big day. For example, if you pay to hire a venue that goes bust before your wedding day comes around, you can claim through your credit card provider, who will get your money back on your behalf.

You should be mindful, however, that not every wedding provider accepts a credit card as a form of payment. And remember, if you struggle to meet your monthly repayments, you will negatively impact your credit score.

Personal loan

One of the simplest ways of borrowing a fixed amount that you then pay back in instalments is to apply for an unsecured personal loan. Subject to your credit score, you could be able to apply up to £25,000, which is likely to be more than enough to finance your upcoming wedding.

Although you will be subject to interest rates, you will benefit from lower rates if you have a good credit score. You might even consider an Open Banking loan if your credit score is poor, so long as you can comfortably afford the associated repayments.

Open Banking lenders like Koyo utilise secure technology to analyse data from your bank account, which essentially verifies your income and expenditure. Therefore, Koyo can come to a lending decision based upon real-time data, as opposed to what a third party says about you. For more information about Open Banking, check out this helpful guide: Open Banking Explained.

If you’re looking for further details on how personal loans match up to credit cards, you can read our comprehensive guide: Personal Loans vs Credit Cards.

FAQs – How to pay for a wedding

What’s the best way to pay for a wedding yourself?

There’s no denying it; paying for a wedding yourself can be tough. But one of the best ways to manage the costs yourself is to reduce them! Consider taking responsibility for your wedding yourself, inviting fewer guests, and hiring a venue outside the wedding season (off-peak).

While it’s best to pay for a wedding with your savings, you might have to consider one of the credit options that we introduced above.

Is it possible to pay for a wedding with no money?

If you have zero cash available to pay for your wedding and want to avoid debt, you will need to think about a massive reduction in your expectations. You could limit the cost of your wedding to just a few hundred pounds by getting married at a civil registry and celebrating with your nearest and dearest in a local bar or restaurant.

Do banks provide wedding loans?

Yes, you can apply for a loan from a bank to pay for your wedding. But you may also want to consider the likes of credit unions, personal loan companies like Koyo, and credit card providers. Lenders will typically ask what you plan to use the money for when you’re applying for a personal loan, and a wedding is generally accepted as a good reason to borrow money. For more details, you can read our helpful piece: Reasons for a Personal Loan.

For further information about how to get approved for a personal loan, check out: How to Get Approved for a Personal Loan & the Best Loans for a Fair Credit Score.

Next Steps

We hope this article has provided you with everything you need to know about budgeting and paying for your upcoming wedding.

So, if you’re ready to dive in and are keen to find a flexible personal loan between £1,500 and £12,000 for your wedding, check out our loan calculator or apply via www.koyoloans.com – Representative APR 27%.

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