The essential 2-step savings plan for your 2019 wedding

Evie Weily

15 Jan 2019


Is 2019 the year you get hitched? Well we won’t need to remind you about how much there is to prepare, and with the average wedding costing around $36,000 according to ASIC MoneySmart, the sooner you get a plan in place the more you’ll be able to save - in money and stress.

So whether your wedding is a massive celebration to mirror the royal wedding or a tight knit affair, there are plenty of savings tips you can employ to help you avoid breaking the bank. To get you on the right track, here are two steps to help you pay for your big day.

Step one - Budget, budget, budget

The last thing you want threatening your wedding day is the debt that could come with it. But you can still have the wedding of your dreams with a few of these frugal ideas that will help you slash your wedding budget.

Outfit of the day

So you’ve got your heart set on a dress you saw in Vogue last month? Well couture is expensive, so selecting a more classic dress without any embellishments could drop that price tag remarkably. If you’re in love with a certain designer, keep an eye out for any sample sales they might have throughout the year to snag a huge discount. Equally for the groom, you can grab a bargain on black or navy non-designer tuxedos through sites such as ASOS that will still look the part on the day.

Ceremony and reception

The less formal your celebration is, the more you will be able to afford it. Plus, opting for a venue like the beach, a park or a backyard will make the day feel more relaxed and it will save you some coin. A good tip is to have your ceremony and reception in nearby spots - this will cut back on travelling times for your guests and you can get the party started straight away!


Our tip is to stay local and seasonal with your wedding blooms. If you've got your eye on a particular type of flower, ask your florist to find a cheaper substitution so that you don’t have to pay big for your table decorations. You can also save money on decorating costs by doing some of it yourself, or recruiting a friend to help you out!

Food and alcohol

They say quality is better than quantity, so why not try keeping dinner to two courses? Stick to a simple menu that is in season and sourced locally and if the venue allows it, have your guests buy their own alcohol or stick to budget friendly beer and wine selections. And when it comes to the cake, keep it simple with a one or two tier cake that is exactly how you imagined. Naked cakes are far more on trend than cakes with fondant - and they work out cheaper too!


Bands and DJs are expensive to hire, but if you insist on having live entertainment, keep the costs down low by shopping around and negotiating with those who will do it cheaper. Alternatively, be your own DJ and control the music at your wedding by creating a Spotify playlist fit for the entire night. Just make sure your uncle doesn’t get his hands on it!

Step two - Compare your funding options

Need a little bit of extra funding help and don't want to rely on the bank of mum and dad? Saving up enough to cover all your wedding costs can be a tough ask before the big day, but there are other funding options which could help you hit your wedding goals.

1. Put the smaller expenses on a credit card

Putting your smaller expenses such as your wedding dress or decorations onto a credit card could be the most convenient way to fund some of your wedding costs, especially if your able to pay off your balance at the end of the month. Or if you are likely to carry a balance on your card, a low interest credit card might be a better fit than your regular credit card when it comes to paying for your wedding purchases.

2. Take out a wedding loan

While a credit card might be a convenient funding option, you really need to factor in your wedding budget when it comes to deciding whether taking out a personal loan is the right choice for you. Personal loans often have lower interest rates than a credit card, so a loan could be a better option if you need help paying for a large portion of your wedding. Check out our personal loan comparison tool to help you find a loan that is appropriate for your own big day.

Planning on overcoming your wedding costs? Putting away money early on and looking for easy ways to cut possible costs is a great way to start, but if you’re looking for a place to stash your wedding savings until you need them make sure you compare Mozo’s list of bonus saver savings accounts.

Bonus Saver Savings Accounts 2019

Rates updated daily. Advertiser disclosure.

  • Promoted

    MyState Bank

    MyState Bank

    Bonus Saver Account

    1.20% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    *Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

  • Promoted



    Serious Saver

    0.30% p.a. (for $0 to $1,000,000)

    0.15% p.a.(for $0 and over)

    Yes up to $250,000

    *No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.15% rate after*

  • Promoted



    Saver Account

    1.10% p.a. (for $0 to $1,000,000)

    0% p.a.(for $0 and over)

    Yes up to $250,000

    *Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).

  • Promoted



    Online Saver

    1.10% p.a. (for $0 to $500,000)

    0.35% p.a.(for $0 and over)

    Yes up to $250,000

    *Bonus rate for the first 4 months from account opening

  • Promoted



    Flexi Saver

    0.25% p.a. (for $0 to $5,000,000)

    0.05% p.a.(for $0 to $5,000,000)

    Yes up to $250,000

    *Increase balance by at least $300 in the month (excluding interest)

^See information about the Mozo Experts Choice Savings accounts Awards