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How to afford a wedding in your 20s - 2023 updates

Congratulations on your engagement! Now that you’re engaged, it’s time to think about getting married within the next…1 to 2 years. If you’re in your mid 20s, you probably just entered the working world, which only gives you about 1 year to save up for the big day! And we’re not even talking about the other big expenses like getting a BTO, as well as home renovations. Stressed out yet? Here are some financial tips for you young lovebirds who are ready to make the big leap!

Have “The Talk”

It’s important to be completely transparent, open, and realistic with your partner about your financial situation. Be it a student loan, or credit card loan that you have (and will have for the next 3-4 years), it is always important to communicate and find ways to overcome these financial hurdles before the wedding.

Pro-tip! Avoid incurring more debt by paying off your existing loans first. And be aware of financial regulations like Singapore’s TDSR, which limits your total borrowings to 60% of your monthly income.

Manage expectations

It is also super important to talk about both parties’ expectations for the wedding. You might need to consider how much you and your partner currently have in your savings, how much you will have in your savings by the day of the wedding, and any additional financial assistance you may be getting from family members. If money is tight, you can opt for a simple ROM ceremony first and then plan for a bigger party next year, or the year after when both of you are more financially stable.

Pro-tip! Micro weddings are also getting very popular as they are significantly more affordable and a lot less formal (in other words, more fun for everyone!).

Plan with a budget

The average cost of a wedding (banquet of 20 tables, photography, wedding outfit, hair and make-up, flowers etc) cost approximately $50,000. This means that you and your partner will need to set aside $2,100 a month for 24 months to hit the savings target of $50,000. If you’re planning to get married in less than a year, you may need to revisit wedding expectations to incorporate more budget-friendly options, or set the date of your big day a little later.

Pro-tip! Consider non-hotel venues where it will only cost $120-$130++ per guest, or scale down on fringe items like flowers and decorations that can severely damage your wallet. Try going for freelance photographers as well. These are skilled individuals who might charge a lot less than their more established peers, because they’re still building up their portfolio.

Scale down on the pretty and expensive stuff

The prettier it looks on camera, the more expensive it will be. Always ask yourself if you need it, or will it be nice to have? For example, you need to send out wedding invitations, but you don’t need to print them. There, savings of about $100 right there. Remember to always stick to your budget.


If you have a flair for craft work, then save more money by creating the decorations yourself. Most vendors will put a higher price tag as soon as you mention that it’s for a wedding. So if you can make it yourself, just do it. Grab a few friends to join you and have fun!

With everything to be taken into consideration, it might actually be possible to live out your wedding dreams, regardless of your age or financial situation.

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