How much does a wedding cost?

The short answer to this question is that it depends on several factors, such as location, number of guests, and personal preferences.

What's the average cost of a wedding in the UK?

The average cost of a wedding in the UK currently sits at almost £21,000. However, this figure can vary significantly based on individual choices and circumstances. For example, weddings in London cost £36,778 on average, while getting hitched in Wales costs £15,529. Additionally, destination weddings often come with a different set of expenses, including travel and accommodations for the couple and their guests. In general, the location and venue tend to be the biggest expense at £9,877 on average (but this drops to almost £6,000 without catering).

Who pays for a wedding in the UK?

Traditionally, the cost of a wedding in the UK has often been shared between the families of the bride and groom. Historically, the bride's family would take on a larger portion of the expenses, particularly for the ceremony and reception. However, now it's increasingly common for the couple themselves to bear a significant part of the wedding costs or even cover the entire expense. One-third of couples pay for the full cost of the wedding themselves, while 70% receive some form of financial help from friends and family. Usually, about 25% of the cost is contributed by each side of the couple's family. In some cases, both families contribute equally, or costs are divided based on specific aspects of the wedding, such as one family handling the catering while the other covers the venue.

It's best to discuss your budget early on and ensure all parties are comfortable and clear about their contributions (if they are making any). This helps not only with budget planning but also with bringing families closer during the planning process.

What is the basic budget for a wedding?

A basic wedding budget typically covers the essentials required to host a memorable event without unnecessary extravagance. Almost 60% of couples spent between £5,000 - £15,000 on a wedding, way lower than the £20,700 average, so something in this range would be a realistic budget for a modest celebration. It's essential to determine what aspects of the wedding are most important to you and allocate a larger portion of your budget towards those areas, so you can still have the day of your dreams without breaking the bank.

What is the most expensive part of a wedding?

The most expensive part of a wedding typically tends to be the venue. For many couples, securing the perfect location to say their vows and celebrate with loved ones often comes with a significant price tag. This expense can include not only the rental of the space but also additional costs such as setup, cleanup, and sometimes mandatory services like coordination fees.

Another major cost driver is catering, especially with a large guest list. Providing a memorable dining experience with quality food and beverages can quickly add up. It's not uncommon for catering to rival or even surpass venue costs in some cases.

How can I save money on my wedding?

There are several ways to save money on your wedding without compromising quality or experience. One option is to opt for an off-season or weekday wedding as these tend to be less expensive than peak-season weekend weddings. On average, the cheapest day of the week to get married is Tuesday, with Saturday and Sunday being the most expensive. While January is the cheapest month to get hitched in, with June being the most expensive.

Venue

The venue is often one of the largest wedding expenses and can account for around 40% of the total budget (including catering). Prices can vary widely depending on the type of venue, its location, and the time of year. 

For instance, a summer wedding in a popular location will typically be more expensive than a winter wedding. A registry office is the most affordable option when it comes to the ceremony, but church weddings come in second at £5,480 - 45%  cheaper than the average wedding venue. Additionally, hosting the reception at home or in a public park can eliminate expensive rental fees. A smaller guest list will also greatly reduce catering costs and the need for a larger venue.

Catering

Catering costs can also add up quickly, especially if they are not included in your venue hire and you plan to offer a multi-course meal or open bar. It’s essential to get quotes from several caterers and consider different menu options to find the best fit for your budget.

Photography

Capturing the memories of your special day is priceless, but hiring a professional photographer usually comes at a substantial cost. On average, couples spend around 10-12% of their budget on photography and videography.

Attire

The bride's dress, groom's suit, and accessories are another crucial aspect of costing out a wedding. While some opt for designer labels, others may find beautiful, budget-friendly options including second-hand! Don’t forget to include costs for hair, makeup, and any attire for the bridal party.

Entertainment

Whether you choose a live band or a DJ, entertainment is key to ensuring your guests have a great time. This can range from 5-10% of your total budget, so expect to pay between £800 - £2,250 depending on what type of band you go for.

Flowers

Floral arrangements add beauty and elegance to your wedding but can be costly. Consider seasonal flowers and work with a florist to create stunning yet budget-conscious designs.

You can also consider DIY-ing some elements of your decor, such as your flowers, table decorations and wedding invites. Seek the help of friends and family who may have special skills too, such as baking, to contribute to the wedding. 

Understanding these categories and how they contribute to your overall budget can help you make informed decisions and prioritise spending. Remember, the most important aspect of your wedding day is celebrating your love and commitment surrounded by family and friends.

By prioritising your must-haves and carefully allocating your resources, it's entirely possible to plan a beautiful wedding that remains within your budget. 

How to save for a wedding

One of the most prudent steps in planning your wedding is to establish a robust savings plan. By starting early and setting aside money regularly, you can alleviate much of the financial stress associated with wedding expenses. Start by working out what you want your budget to be, and when you want to get married - from there you can calculate how much you and your fiance should be saving each month.

When to start saving for a wedding?

When you should start saving for a wedding largely depends on your individual circumstances like when you want to get married, how much you want to spend and what you can afford to put away each month. But as a general rule of thumb, the sooner you begin saving the better; starting early allows you more time to accumulate funds gradually, reducing the need to put away large portions of your take-home pay.

For example, if you want to spend £10,000 on a wedding in two years' time, you'll need to save £417 per month, so £208 each. If you got married in three years' time, you'd need to save £278 per month, which is £139 each.

Early planning and consistent savings can make your wedding planning process much less stressful and allow you to approach your big day with confidence and peace of mind.

Where to put my savings for a wedding?

You can put your savings for a wedding in a normal savings account, but this might not give you the best interest rate on the market. To make the most out of your savings, consider putting your money into a Cash ISA. You can save up to £20,000 into a Cash ISA account each tax year without paying any tax on the interest your savings earn, making it an excellent tool for setting aside funds for significant life milestones, such as a wedding.

Once you've got a clear budget and how much you need to save each month, you could even set up automatic transfers into your Cash ISA. This ensures that you are consistently working towards your goal without the temptation to spend the money elsewhere.

Make sure you choose a Cash ISA with a competitive interest rate and account features that suit your needs. Higher interest rates can help grow your savings more quickly, and helping you to be well-prepared for your special day.