The ‘best day of your life’ is likely to be the most expensive – especially if you’re getting hitched in London! It’s supposed to be one of the best days of your life, but it is likely to be one of the most expensive, too.
In spite of the cost of living crisis. the average wedding now costs £20,775, according to wedding planners Bridebook, which says its app is used to plan 71 per cent of British weddings. This is the first time that figure has topped £20,000.
If you factor in the wedding ring and the honeymoon as well, the average costs shoots up to £25,952. The figures were taken from Bridebrook’s UK Wedding Report 2024 and based on information given by more than 6,000 married and engaged couples.
As you might expect, the cost of weddings differed considerably from region to region. The average cost of a wedding in London is now £36,778, while the average cost of a wedding in Scotland and Wales is £19,387 and £15,529 respectively. For those who like ‘abroad weddings’, then the cost averages out at £17,572.
The high cost of weddings isn’t deterring people from tying the knot though.”Looking ahead, we see younger Gen Z couples more affected by the economic climate,” the report’s authors say. “Yet rather than reduce spending, these couples expect to spend £4,000 more on their weddings. This willingness to spend more reinforces the importance couples place on their wedding. They’re also finding ways to save with second-hand items like upcycled decor, or by reselling items.”
What are the biggest costs when you get married?
The average overall costs were accounted for by:
- Wedding venue £9,877
- Catering £5,732
- Videographer £1,439
- Wedding dress £1,424
- Florist £1,182
- Wedding music £1,127 (reception), £641 (ceremony)
- Hair and make-up £686
- Wedding cake £405
- Stationary (professionally printed) £384
- Wedding marquee £4,202
- Wedding transport £705
- Wedding favours £158
- Wedding planner £2,436
- Celebrant £501 or toastmaster £515
- Honeymoon £4,329
Does the day you get married on make a difference?
The most expensive day to get married on is Saturday, unsurprisingly, which averages out at £22,290. But couples who can get married during the week stand to make considerable savings: the cheapest day to get married is Tuesday, at £16,273, saving £6,017, with the second-cheapest being Wednesday. Sunday is the second-most expensive, coming in at £21,751.
What is the cheapest month to get married in?
Weddings are expensive all year round, but couples getting hitched in January (average cost £15,712) can save £8,277 on the most expensive month which is June (£23,989).
If that all fills you with despair that you’re never going to be able to afford to get married, then don’t worry. There are many ways to save money on a wedding without ditching any of the fun or compromising on amazing memories. And there are plenty of great money-saving tips if you’re the guest at a wedding, too.
Sarah Bridge, Good Housekeeping
How we can help
When it comes to planning your wedding it’s vital to factor in not only the major costs but the long list of smaller incidental costs. This is where unexpected spending can soon mount up and exceed your budget, and you really dont want to spoil your wedding by having to penny pinch.
So there’s a lot to be said for recognising and building wedding expenditure firmly into your overall annual finance planning so that you can start saving well in advance. In fact we think it’s useful for everyone to create their own financial plan every year, to make sure they’ve got visibility of all planned and expected events which will incur costs (eg car purchase, home renovations, a special holiday) as well as building in crucial allowance for extra unexpected expenditure along the way.
We find that those clients who have a clear plan of known and expected expenditure feel better organised and more confident about their finances, and that’s important for peace of mind. To help you to create or review your own financial plan, we’re here to give you professional help and guidance. To start the conversation why not call us now on 0808 123 4321 to arrange a free no oblligation meeting.
Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire, and the surrounding area, but not limited to the region.