Planning a wedding? Learn how to set a realistic wedding budget, prepare for hidden costs, automate your savings and avoid starting married life with unnecessary debt.
Start With What Matters Most
We’re proud to sponsor the Where’s My Money? podcast with host Reagan White.
In this episode, wedding planner Kimberly Sanders and enable.me financial coach Shelley Palman join Reagan White to look at the financial realities of planning a wedding, from deciding on your priorities and managing the guest list to preparing for the costs that can quickly add up.
When Shelley Palman joins the conversation, her advice is to treat a wedding like any other big savings goal. Work out what you can realistically afford, how long you have to save and then break that figure down into manageable amounts.
Automating your wedding savings alongside your regular pay cycle can help you work towards the goal without relying on whatever happens to be left at the end of the month.
Plan for the Costs You Don’t See Coming
It’s not always the big-ticket items that catch couples out. Shelley Palman highlights the smaller expenses that can creep into a wedding budget, such as alterations, hair and makeup trials, invitations, decorations and supplier deposits. Individually they might not seem significant, but together they can add thousands to the final cost.
Her bigger message is simple: try not to begin married life paying off debt from the wedding. Instead, use the planning process as an opportunity to talk openly about money, establish good financial habits together and start your next chapter with a plan.
Planning a Big Life Moment?
A wedding is just one of the big financial goals you might be balancing alongside a mortgage, home, family or plans for the future.
If you want to understand what you can afford while still making progress towards your other goals, an enable.me financial consultation can help you put a plan around it.
Watch the Full Episode
Watch the full episode as Reagan White, Kimberly Sanders and Shelley Palman unpack wedding budgets, non-negotiables, hidden costs and how to keep the big day from becoming a big financial hangover.
General information only
The information in this article is general in nature and is not intended to be personalised financial advice. It does not take into account your individual circumstances, objectives or financial situation. Before making any financial decisions, including decisions about borrowing or using credit, you should consider whether the information is appropriate for you and seek advice from a qualified financial adviser. While we take care to ensure the information is accurate at the time of publishing, we accept no responsibility for any loss arising from reliance on it.
