The short answer: most couples pay for a wedding with a mix of savings, help from family, and some form of finance for the gap. The main finance options are a personal loan, a credit card, or buy now pay later, and they are not equal. A personal loan gives you a fixed amount, a fixed repayment and a set end date, which usually makes it the most predictable way to cover a big one-off cost. A credit card or buy now pay later can work for smaller amounts, but the cost can climb quickly if you only make minimum repayments. The smart move is not to chase the lowest weekly repayment. It is to work out the total cost of each option and pick the one you can clearly pay off.
Weddings are emotional, and finance decisions made on emotion are the ones people regret. So here is the plain version.
A wedding in Australia commonly runs into the tens of thousands of dollars, though the real figure depends entirely on your guest list, venue and city. Surveys put the average somewhere in that range, but averages hide a lot. A small registry wedding and a 150-guest reception are different universes. Before you think about finance, build a real budget: venue, catering, photography, attire, rings, and a buffer for the things you forget. A free budgeting tool makes this far less painful, and it tells you the actual gap you need to fund.
There are four common ways to cover a wedding, and most couples use more than one. Savings are the cheapest option because they cost you nothing in interest. Family contributions are common and worth having an honest conversation about early. For the remaining gap, you are usually choosing between a personal loan, a credit card, or buy now pay later. The rest of this guide compares those three, because that is where the cost differences are.
A personal loan gives you a set amount up front, repaid over a fixed term with regular repayments. For a large, one-off expense like a wedding, that structure is its strength. You know exactly what you are repaying and exactly when it ends. According to ASIC's Moneysmart, personal loans can be secured or unsecured, and unsecured loans, which is what most wedding loans are, usually carry a higher interest rate than secured ones because there is no asset backing them.The thing to compare is the comparison rate, not the headline rate. Moneysmart defines the comparison rate as a single figure that includes the interest rate plus most fees and charges, so it shows the true cost. Multiply the repayment by the number of repayments to see the total, and make sure that total is one you are comfortable carrying into married life.
A credit card or buy now pay later can suit smaller wedding costs if you can clear the balance quickly. The risk is the cost when you cannot. Moneysmart notes that credit cards can be expensive if you only make minimum repayments, because interest keeps building on what is left. Buy now pay later is now regulated as credit in Australia, and while many plans charge no interest, missed payments attract fees and juggling several accounts is easy to lose track of. As a rule, these tools work for a deposit or a single supplier, not for funding an entire wedding you cannot otherwise afford.
The cheapest option is the one you can repay fastest without stress, and for most couples covering a few thousand dollars or more, that is a personal loan with a clear end date. A credit card can win only if you genuinely clear it within an interest-free window. Buy now pay later can win for a small amount repaid on time. Run the numbers on total cost for each, using the comparison rate for any loan, and be honest about your repayment discipline. The point of the wedding is the marriage, not a balance you are still paying off two anniversaries later.
Should I get a loan for my wedding? Only if the total cost fits comfortably in your budget after the wedding. A personal loan can be a sensible way to cover a gap when you have a clear repayment plan, but it is worth pricing the total cost first and deciding whether a smaller wedding is the better call.
Is a personal loan or a credit card better for a wedding? For a larger, one-off amount, a personal loan is usually more predictable because it has a fixed repayment and a set end date. A credit card can suit a small cost you will clear quickly, but it can become expensive if you carry the balance.
How far ahead should I sort wedding finance? Well before you start paying deposits. Getting your budget and finance sorted early means you book suppliers knowing your real number, rather than reaching for whatever payment option is in front of you on the day.
Does applying for a wedding loan affect my credit score? A formal application is recorded on your credit file, and Moneysmart notes several applications in a short time can affect how lenders see you. Many brokers can indicate your options with a soft check first, which does not affect your score.
Written by Ashley, founder of Noma Finance. Before becoming a finance and asset broker, Ashley worked at car dealerships and has personally held every loan type Noma helps with. Noma compares options across a panel of lenders to help people find finance that fits their situation, explained in plain English.
If you want a hand working out what wedding a wedding gap would actually cost you, that is what we do every day, no pressure and no jargon. Book a call or apply online.
This article is general information only. It does not take into account your objectives, financial situation or needs, and it is not financial or credit advice. Consider whether it is appropriate for you and seek advice from a licensed professional before making a decision. Information is current as at the date below and rules, rates and fees can change, so check the linked sources for the latest.
Last updated: July 2026.
- ASIC Moneysmart, Personal loans: https://moneysmart.gov.au/loans/personal-loans
- ASIC Moneysmart, Comparison rate (glossary): https://moneysmart.gov.au/glossary/comparison-rate
- ASIC Moneysmart, Credit cards: https://moneysmart.gov.au/credit-cards
- ASIC Moneysmart, Buy now pay later: https://moneysmart.gov.au/buy-now-pay-later
Sources last checked July 2026.
Written by Ashley, founder of Noma Finance. Before becoming a finance and asset broker, Ashley worked at car dealerships, and has personally held every loan type Noma helps with. Noma compares options across a panel of lenders to help people find finance that fits their situation, explained in plain English.
This article is general information only. It does not take into account your objectives, financial situation or needs, and it is not financial, credit or tax advice. Consider whether it is appropriate for you and seek advice from a licensed professional before making a decision. Tax outcomes for novated leases and chattel mortgages depend on your circumstances, so speak with a licensed tax adviser or accountant. Any figures used are illustrative only.
