Celebrate big life moments without breaking the bank
Life's big moments - weddings, new babies, milestone birthdays, home renovations, or dream holidays - are often worth celebrating. But they can also come with a hefty price tag if you don't plan ahead. Whether you're getting married in the hinterlands of Byron Bay, renovating your Melbourne townhouse, or planning a milestone 50th in your backyard with all the trimmings, budgeting is the key to making these moments memorable without waking up with financial regrets.
So, with that in mind, here's our step-by-step guide on how to budget wisely for life's major events - and where to turn if you need a little extra cash to make it happen.
1. Set a realistic goal (and stick to it)
First things first: define what the event needs to include, not what Instagram says it should include. For example, is your wedding really about the $3,000 flower arch, or is it about the people and the vows? Is the kitchen renovation about custom marble benchtops, or just a functional and fresh space to cook with family? Write down your must-haves, nice-to-haves, and unnecessary extras. Then, research the actual costs in your area to set a ballpark figure. It's a good idea to always add a 10-15% buffer for unexpected costs - because life loves a surprise invoice.
2. Create a dedicated savings plan
Once you've got a figure, divide it by the number of weeks or months until the event – so if you're planning a $10,000 wedding in 12 months, that's around $195 per week. Create a separate high-interest savings account just for this event to keep the temptation of spending at bay. Use apps like Wisr (free, available from the App Store or Google Play), which will automatically round up your transactions to the nearest $1, $2 or $5 (it's up to you) and allocate them to the account of your choice. Many banks these days also offer accounts that will round up and transfer the difference to the savings account of your choice. You can also create scheduled transfers for set-and-forget weekly deposits and use bucket budgeting to separate your life event fund from regular bills and household expenses.
3. Track every dollar
Budgeting apps like Pocketsmith or Frollo can help track your spending. Knowing where your money goes is the first step in tightening your budget without cutting out the things you love. If your takeaway habit is costing $300 a month, could you halve that and reroute $150 into your event fund? Even minor lifestyle tweaks, such as switching gyms, pausing subscriptions, and buying in bulk, can add up.
4. DIY and delegate
One of the most effective ways to save money on big events is to do it yourself - or rely on your network. Getting married? Think about digital invitations, backyard venues, or asking a friend with a good camera to take photos. Big birthday coming up? Make your own grazing platters, decorations, or playlists instead of hiring professionals. Planning some renovations? Do the painting yourself, and find second-hand fittings and fixtures on Facebook Marketplace or Gumtree. Some people even give away their kitchens for free if you're willing to remove them (you might not want everything, but the cabinetry can usually be reused). You don't have to sacrifice style or quality - just be clever about sourcing.
5. Time it right
Timing is crucial, especially with costs. When planning a wedding, consider choosing off-peak months like July or August, or opting for weekdays to reduce venue and supplier fees. If you're travelling, avoid school holidays and public holidays, as airfares and accommodation prices often rise during these periods. For renovations, you might secure a better rate from your tradies if you team up with a neighbour also renovating. Allow plenty of time to shop around for the best deals and steer clear of paying extra for last-minute bookings.
6. Cut costs, not joy
The goal isn't to make it as cheap as possible; it's to spend where it matters most and eliminate excess. After all, most people won't remember the designer gift bags or the $500 centrepieces, but they will remember the event. When you thoughtfully plan and cut down on some of the excesses, you're not depriving yourself - you're choosing value over vanity.
7. Consider a safety net
Even the most carefully planned budget can hit a snag, especially if a supplier increases their rates, your car breaks down, or your deposit falls short. If you're in a tight spot but don't want to give up on the event, a quick cash loan could help bridge the gap. Whether it's $500 to top up a deposit or $5,000 to finalise bookings, our cash loans of up to $5,000 can help turn your big event dreams into reality. It's quick and easy to borrow some extra funds, and once a loan is approved, the cash is usually in your bank account within a few hours.