Stress-Free Wedding Plan: Affording Your Big Day Without Breaking the Bank

Chris Henderson, Save and Pay Director at Tesco Bank, said: “Money plays a really important role in our lives, helping us prepare for major life moments such as weddings or other special occasions. While it enables us to create meaningful experiences, it can also become a source of stress when facing the costs that come with them. Taking the time to understand what things may cost is the first step when saving for your big day. This awareness can help you make informed decisions, whether that’s setting a realistic wedding budget, building a dedicated savings plan, or seeking support to bring your dream day to life.”

1. Review your wedding finances early
Before you commit to any vendors or venues, it’s important to take a step back and review what you can afford for your big day. Look at what you’re willing to spend, whether you have any savings set aside already, and what you need to start saving from now. Having a clear picture of your joint income and outgoings, in addition to having a steer on prices for things like venue hire, flowers, rings, or photographers can help guide you in setting up your savings plan. You can then consider any changes you’re willing to make and what the non-negotiables are. You can then either use a planner or a budgeting app to help track your wedding fund. 

2. Schedule regular money dates together 
There is no one-size-fits-all approach when it comes to managing or discussing money as a couple. However, being mindful about setting regular time to catch up with each other about your finances and savings progress will ensure you’re both on the same financial page as you plan your wedding together. This could be personal time for you to review your financial progress, but it can also be done jointly with your spouse-to-be for any shared finances. 

3. Wedding in 2027 – have you considered an ISA?
Married couples can benefit from a boosted ISA tax allowance. If one spouse has maximised their Cash ISA allowance of £20,000, it is possible to pay into the other’s ISA instead, effectively allowing a married couple to save up to £40,000 tax-free in a single tax year. This can be a great way to reach any other big-ticket savings goals while still earning tax-free interest on your savings.

With double the allowance, you could opt for one Instant Access ISA and one Fixed Rate, utilising better interest rates without having to give up flexibility. You just need to make sure your total Cash ISA deposits in a year don’t exceed your yearly allowance of £20,000, or £40,000 if you choose to utilise your partner’s allowance too.

4. Set up for married life 
While you may have got the wedding day sorted, it's important to get a clear view of your shared finances to ensure money doesn’t become a source of stress for you as newlyweds. Most couples share bills and expenses, but it’s important to agree early on who may be paying for what or what is joint — especially when balancing everyday costs with saving for your wedding. Whether you use a joint account or split things separately, keeping track of your monthly outgoings helps you stay on budget and to set aside money for your celebration without added stress.

5. Think beyond your wedding day
Once you’re hitched, a large part of getting in shape financially is thinking about your short- and long-term goals and what you need to do to achieve them. Do you want to move house, go on a big trip together, or start a family? And what about your retirement? There are several budgeting techniques you can try individually - and as a couple - to see what works best for you. Start small by saving into a shared pot each month and sticking to a weekly or monthly budget—these habits can build over time and help you steadily save for your shared savings goals together.

Tesco Bank began life in 1997 and now helps around 3.8 million customers to manage their money a little better every day. This means creating products and services which make customers’ lives simpler, giving them more of what they value, and rewarding their loyalty through Clubcard. Today, through a long-term strategic partnership between Barclays and Tesco, Barclays provides customers with Tesco Bank branded banking products and services. Our colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow, and Newcastle, and we’re also available through online and mobile banking 24/7.