Big life events are exciting, emotional, and usually quite expensive. We’re talking about the big stuff: a dream wedding, welcoming a new baby, or getting a deposit for a first home.
The financial side of these milestones can quickly become overwhelming if you’re not prepared. But here’s the good news—by taking a smart, proactive approach to budgeting, you can stay on top of your finances without sacrificing the joy of these huge moments.
At Loansmart, we’ve helped thousands of Kiwis manage their money during life’s big transitions. In this blog, we’ll walk you through practical budgeting tips for three major events—weddings, babies, and first homes—so you can navigate them with confidence (and maybe even a little spare cash in your back pocket).
1. Budgeting for Your Wedding Without Losing the Plot
Let’s start with weddings. They can be magical, but they can also burn through your savings faster than you can say “I do”. The average wedding in New Zealand costs about $30,000, though many couples spend much more. The key to keeping your wedding within budget is prioritising, planning, and being realistic.
Set Your Maximum Budget—Then Stick to It
Decide on a top-dollar figure before you start booking anything. Include every cost you can think of: venue, catering, dress, rings, photographer, music, flowers, marriage licence, and honeymoon. Use a spreadsheet or budgeting app to keep track of quotes and actual spend.
Prioritise What Matters Most
What’s your non-negotiable? A beachfront ceremony? Amazing food? Live band? Spend the bulk of your budget there and look for savings elsewhere. Remember, your guests will remember the vibe, not the chair covers.
Avoid the Debt Trap
It’s easy to overspend on weddings, but you don’t want to start married life in a financial hole. If you need a top-up to bring your dream day to life, consider a personal loan with a competitive interest rate. At Loansmart, we can help you find a great deal across multiple lenders—even if you’ve had credit issues in the past.
2. Preparing Financially for a New Baby
Few things are as life-changing (or budget-changing) as having a baby. It’s not just the nappies and onesies—it’s the shift in income, household priorities, and future planning. Here’s how to keep things manageable.
Understand the Upfront and Ongoing Costs
Before the baby arrives, there’s the cot, pram, car seat, clothes, and so on. After that, it’s formula, nappies, childcare, and eventually school-related expenses. In NZ, the average cost of raising a child is between $8,000 and $16,000 per year!
Create a “Baby Budget”
Make a list of everything you’ll need and categorise it by must-have vs nice-to-have. You’ll be surprised how much you can save by borrowing from friends or buying second-hand—especially since babies grow out of things so quickly.
Plan for Parental Leave
Check your entitlements for paid parental leave and work out how long you can afford to be off. If your income is likely to drop, start adjusting your spending early and try to build up a buffer fund. The more prepared you are, the less stressful those early months will be.
Consider a Personal Loan for Larger Purchases
If you want to renovate a nursery, buy a safe second car, or cover the gap in income for a few months, a small personal loan can be a useful tool—especially when interest rates are low. Our loan experts can match you with options that suit your needs and situation.
3. Budgeting for Your First Home
Buying your first home is one of the biggest financial commitments you’ll ever make—but with good planning, it’s also one of the most rewarding.
Know What You Can Afford
Work out how much you can realistically borrow and repay based on your current income and expenses. Lenders look at your debt-to-income ratio, credit history, and savings habits—so getting your financial ducks in a row is crucial.
Start Saving Early for the Deposit
In New Zealand, a 20% deposit is the ideal target, but you may be able to get into your first home with as little as 5% through certain lenders or government schemes. The earlier you start saving, the better. You may also be able to withdraw your KiwiSaver savings towards your deposit.
Create a “Home Buying” Budget
Don’t just focus on the deposit. There are legal fees, LIM reports, moving costs, insurance, and possibly renovation or furniture costs once you move in. Make sure you factor it all in.
Plan Now, Stress Less Later
Big life moments are meant to be celebrated—not overshadowed by money worries. By budgeting smartly, staying organised, and seeking the right financial support, you can make each milestone something to truly enjoy.
And remember, you don’t have to do it alone. At Loansmart, we specialise in helping Kiwis navigate life’s big expenses with simple, fast, and flexible loan options. Whether you’re saying “I do,” welcoming a little one, or stepping onto the property ladder, our expert team is here to help you make it happen.
Our application takes just 2 minutes, and approvals can happen within 1–2 hours*, with same-day payout* possible. We work with multiple lenders to find the best deal for you, even if you’ve had a few bumps on your credit file.
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*Subject to responsible lending checks and criteria
