Planning to get married in 2017? Now is as good a time as any to start saving, as the costs can creep up on you without you realising.
Estimates vary as to the average cost of a wedding in the UK. Some experts say £17,000, some say £20,500, some, after itemising various parts, say as much as £30,111.
Experian research* in 2014, of people recently or soon to be married, found that almost seven in ten (69%) pay for their wedding from savings, while around one in five are using some form of credit, whether that be a card, a loan, or paying in instalments.
In fact, 43% of cohabiting couples had postponed their wedding by an average of a year and two months – due to running into difficulties with their pre-wedding financial planning.
8 quick tips for budgeting for a 2017 wedding
- One year to go is a great time to set achievable targets with clear landmarks ahead – and there’s no better target than the big day itself. Continue reading
Being a wedding guest should be great fun, but for some of us the ‘wedding season’ can be a source of financial pressure and domestic strife.
In this week’s news, one wedding guest said on the Mumsnet forum she was left ‘utterly gobsmacked’ after being asked to ‘adjust’ the £100 cheque she’d sent, the bride and groom emailing her with the suggestion her gift wasn’t generous enough. The post has so far got over 1,000 replies, the vast majority in support.
An Experian survey* in August 2015 suggested that the rising cost of weddings can rock the boat for many couples, and not just for the bride and groom.