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Creative Financing Options for Your Wedding

Wedding bells ringing? While planning your big day is exciting, it can also be daunting financially. To help you down the aisle, here’s a few things to know about paying for a wedding.

Set a budget

Before you start booking your dress and suit fittings, your first step is to set your budget. 

Take an honest look at how much you and your partner can realistically afford to spend on your wedding. Consider your income, savings, and any financial contributions from family members.

It might take some tough conversations, but it's important to be realistic about what you can afford, as overspending on your wedding can lead to financial and marital stress down the line.

Consider your expenses

Now you’ve got an idea of your budget, it’s time to get specific about your wedding costs. 

You might not want all of these on your day, but some typical wedding expenses to account for include:

  • Venue hire and catering: Your wedding venue is usually the bulk of your budget. According to EasyWeddings, Australian couples pay $13,901 on average for their wedding venue, with the average guest list sitting at 80. Venue hire typically includes the cost of renting the ceremony and reception spaces, as well as any associated fees. Feeding your guests and providing drinks is usually on top of this cost, at around $9,891. Search unique wedding venues and caterers at Wedshed

  • Wedding attire: This includes the cost of the wedding dress, tuxedo or suit, and accessories for both the bride and groom. According to Canstar, the dream wedding dress can set you back $2304, while a tux is around $1,500. 

  • Photography and video: Hiring a professional to capture timeless memories of your wedding will likely set you back around $3,164, depending on whether you prefer candid or posed photos - or both - and how long the photographer is expected to take pictures. 

  • Flowers and décor: According to Easy Weddings, the average Aussie couple spends $1,620 on floral arrangements, centrepieces, and other decorative elements for their wedding day. To see how much goes into a wedding flower quote, check out this breakdown by Wedshed

  • Transport: Getting you and your guests to and from the venue can be costly, with Aussies paying, on average, $1,289. This depends on how many cars you need and if a shuttle bus is required. 

  • Entertainment: Having your ideal playlist as background music is also something you’ll have to budget for. It can cost around $1000 and depends on whether you want to hire a band, DJ, or other entertainment like a photobooth, magician, or wedding psychic yep, these exist!


Check out our post on wedding costs to find out the average cost of a wedding in Australia.

Plan how you’ll pay

When you’ve mapped out your budget and expected costs associated with your wedding, it's time to start thinking about how you’ll pay for everything. 

There are a few different ways to approach this:

  1. Savings: If you have enough time, you can save some money to pay for your wedding over time. This may mean cutting back on some expenses for the short term or finding ways to increase your take-home pay. You can use Wisr App for free to round up your purchases and get a head start on saving. If you struggle to stick with a savings habit, give our financial wellness app Wisr Today a go. 

  2. Credit cards: Some couples choose to pay for wedding expenses using credit cards, either for the rewards points or to spread out their repayments. However, this should be done with caution, as it can lead to high levels of debt if not managed carefully. It’s important to make sure you can afford your repayments, any interest and fees. 

  3. Get a wedding loan: Another option is to take out a personal loan to cover your wedding expenses. Wedding loans often have lower interest rates than credit cards but should still be done with caution, as taking on too much debt can lead to financial stress down the line.

What is a wedding loan? 

A wedding loan is a personal loan that is used specifically to pay for your wedding expenses.

Personal loans are typically unsecured loans, which means that they don't require collateral like a car or a house. Instead, they are based on factors such as your credit history, income, and debt-to-income ratio.

A wedding loan can be a good option for couples who want to borrow money to cover wedding expenses, as they often have lower interest rates than credit cards. 

Before taking out a personal loan, do your research and compare rates with different lenders.

You can get a free rate estimate with Wisr to get a sense of how much your repayments will be and what interest you will likely pay. 

Things to keep in mind

When taking out a personal loan, it's important to be realistic about how much you can afford to borrow and how much you can afford to repay each month. Consider your monthly income and expenses, and make sure that the loan repayment fits within your budget.

A wedding loan can be a good option for couples who need to borrow money to cover their expenses. However, it's important to consider all the factors involved, including interest rates and repayment terms.

By doing so, you can make an informed decision and avoid taking on too much debt.

Regardless of how you choose to pay for the wedding, paying for your big day involves budgeting, honestly estimating your costs and deciding on a payment strategy that works for both you and your partner.


By keeping these things in mind and being mindful of your spending, you can plan a beautiful wedding without breaking the bank.

Need a little help for your big day?

Get a free rate estimate for a Wisr Wedding loan.

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Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.

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