Wedding Costs: Five Questions to Ask Yourself When You Get Engaged

A stress-free way to kick start the budgeting process!

There's no getting around it - planning a wedding is a big project, and big projects require a very detailed budget! But how do you get started with wedding budgeting? Well, the first step is to make some key decisions about the kind of wedding you want, and how you're going to pay for it! And the best way to do it is to ask yourself some simple questions. So grab your partner, hunt down a notebook and pen, and let's get stuck in!

1. What are your Non-Negotiables?

Our first piece of wedding-planning advice is always this: sit down with your partner and start working out what your dream wedding looks like. At the end of this brainstorm session, you should have written down your top priorities for the big day. Some couples talk about the Big Five, for others it's the Big Three, but it doesn't matter how many priorities you come up with, or even what they are (it's totally OK to prioritise seemingly frivolous things like outfits and flowers!), just that you've taken the time to decide what's most important to you and your partner. Once you've worked out what your non-negotiables are, it's easier to start budgeting, as you'll know where to assign the larger portions of your budget.

2. Where is the Money Coming From?

The average Irish couple spends about €36,000 on their wedding day, (according to a One Fab Day survey in 2022) but it's safe to say that the average Irish couple doesn’t have that kind of money sitting in their bank account when they get engaged! So it's important that you and your partner are realistic about where the money is going to come from, whether it's savings, contributions from family members, personal wedding loans, or a mix of all three. Lots of Irish couples take out personal loans to ease the financial pressure of saving for the big day.

3. What Style of Wedding Do You Want?

The sooner you figure out what kind of day you and your partner hope to have, the easier wedding budgeting becomes. We’re not talking about specifics like the décor or the dress here, but the overall feel and look of the day. If you don't already have a clear idea, try to imagine the mental picture you'd like to remember from the day. Are you seeing a chic city wedding, a colourful, house party-style bash, an elegant dinner party, or none of the above? It may sound like a silly exercise, but forcing yourself to visualise your ideal wedding day can not only make wedding planning easier, it can help you work out what you can realistically achieve with your budget, which leads us nicely on to our next point...

4. How Many People Do You Want to Invite?

We've seen couples spend €20,000 on a micro wedding and €6,000 on a wedding for 120, but, generally speaking, the more guests you invite, the more expensive your wedding is going to be. But the age-old wedding planning question comes into play; do you want a big, raucous 'do with a heaving dancefloor and every last one of your cousins in attendance, an intimate dinner for your closest pals and family members, or something in between? Once you figure out how many guests you want to invite, you can start chatting to venues about costs (they tend to quote per-head prices), and you'll have a better idea of where you can splurge and where you should save.

5. Where Can You Make Simple Cuts?

When you start making a list of suppliers you need for your wedding, you'll realise that they're all so important - some couples wouldn't dream of getting married without a photographer, makeup artist, live music, etc.! So where does it actually make sense to cut costs? Well, there are lots of small expenses that won't be missed if you ditch them, and the savings on these can really add up! Some of the more formulaic elements of weddings can be easily cut too, if you're not heavily invested in them - a traditional bridal party, for example, or a formal day-two party. As we always say, if something doesn't resonate with you and your partner, it's fine to give it the heave-ho!

Help Is Here If You Need It

If you're feeling overwhelmed by your wedding budget and are stressed out by the ever-growing list of expenses, don't worry, we completely understand. It's important to remember though, your big day is about you and your partner and those who love you. If you do need additional financial support, help is at hand. AIB are offering personal loans from €1,000 - €30,000, online and in their app, with approval within three hours. You can use AIB's online loan calculator to see how much you could borrow and even set your own repayment schedule - weekly, fortnightly, or monthly. If you're getting married and need some support, this could be the way to make your dreams become a reality. For more information, check out AIB online here to calculate how much you could borrow.

You can apply for an AIB personal loan today. Head to the AIB App or check out the online loan calculator on the AIB website for more details.

Allied Irish Banks p.l.c is regulated by the Central Bank of Ireland

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