Getting hitched is an exciting time for couples True Costs of Weddings . A lot of care and details go into wedding preparations to make sure the day is perfect and memorable for everyone involved.
Congrats, you’re engaged!
It’s a happy time for you and your significant other. Though understandably, the idea of splurging on a wedding might feel a little bit overwhelming. You can rest assured that you’re not the only one looking for creative ways to save. In fact, 94% of engaged couples say they are looking for ways to cut back on their wedding costs. With the average wedding in the UK costing £18,400 in 2022 according to Hitched.co.uk, it’s not surprising that engaged couples are looking at ways to save money on their big day, especially as they may be feeling the pinch from the current cost of living crisis.
A survey by popular diamond jewellery specialist F Hinds unearthed this figure, along with some interesting ways people are currently trying to save money on the big day…
Where are couples looking to save money?
The first thing you might think of when planning your wedding is who you are going to invite, for some couples the list will seem long as they want to share their wedding with many friends and family. However, the number one way to save money is cutting down the guest list, according to the findings.
45% of engaged couples who were planning a wedding said they were doing this to economise. This makes a lot of sense, as a smaller guest list means less to fork out on the venue and refreshments. It can be tricky to cut down your guest list though, especially if the people you are looking to leave off the invite list were, in fact expecting an invite to the big day. It’s worth remembering though that the wedding is your big day and yours to celebrate as you wish, and there’s always an evening-only invite, which will save money too.
As might be expected, the second most popular way to cut costs was on the venue, something 33% of respondents said they’d be doing. The wedding and reception venue is usually a couple’s highest cost, with anything in the £7,500-£10,000 range being normal.
The third-most popular thing to push down the priority list was the flowers. 32% of couples said they were trying to shave costs down in this area.
Another 28% of people said they would cut down on the hen do or stag do costs.
When it comes to saving there are elements of the big day that couples just can’t bear to cut back on, including the wedding dress; the average wedding dress costs £1,350 but only 18% of respondents said they were willing to cut back on this major wedding item. Fewer couples (14%) would cut back on their wedding rings.
It’s not just you that wants to save
It turns out you’re not the only one who wants to save money on your Wedding. Your wedding guests might be concerned about finances too. To make the day fun for everyone, it’s worth taking this into account and being understanding about any concerns they might have about money.
A sample of people were surveyed about ways they would try to cut costs if invited to a wedding in the next year. The top one was wearing an outfit they already own, an answer given by 42% of respondents.
Following this, 25% of people said that deciding not to attend a stag or hen do was another way they’d try to save money. This statistic shows that it’s worth treating your friends with sensitivity if they want to duck out for money reasons. A recent study by Aviva found that the average cost of Stag/ hen party to be as up to £1208 per person.
Of course, some factors increase the cost, such as travelling abroad. Men spend an average of £920 for a stag do in the UK versus £1256 if going abroad, while for women the average cost is £652 for a hen party in the UK versus £1158 abroad.
With couples also looking to cut back on stag and hen parties it might be worth discussing your stag/hen do with the people you wish to invite, scaling back plans might mean everyone can join in the celebrations.
Another popular option was spending less than usual on a wedding gift, something 23% of people were open to. With this in mind, you can create a wedding gift list that has a range of gifts that vary in price, or provide the option for people to contribute to a higher-end item. Asking for monetary donations is also popular which gives guests the option to gift as much or little as they wish.
With wedding costs rising it’s worth making a list of what is important to you both, deciding together where you can save money. However, it’s important to remember that whatever you decide to do for your big day, the most important thing is you enjoy it!
