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Financing Your Perfect Wedding

Marriage FinanceWhat springs to mind when you think of the perfect wedding? If you’re a woman, it may be your dress, the flowers or your first dance. If you’re a man it might be the car you’ll arrive in, the colour of your cummerbund, or not falling over during your first dance. But one thing that no-one likes to think about – but which no-one can ultimately avoid dealing with – is figuring out how much your dream wedding is going to cost.

The Increasing Costs of UK Weddings

Weddings in the UK have a long history of being a big affair, however this doesn’t mean that the cost of a wedding was always as high as it is now.

In 2013, the average cost of a wedding in the UK is approximately £18,000 . This is a significant increase on the average cost of a wedding in the 1950s of just £70 – which would be the equivalent of approximately £2,000 by today’s standards. To put it further into perspective, the cost of a wedding in 1950 was approximately seven times a person’s weekly wage, whereas the average UK wedding in 2013 is more than 30x the average weekly wage.

Portrayal of weddings in the media – including televised Royal weddings – as well as changing fashions and an increased importance being placed on extravagance, are all factors which have contributed to the rising costs of UK weddings.

How to Finance Your Big Day on a Budget

For many couples, the thought of spending up to £25,000 on a wedding is simply unthinkable. However pressures from friends and family to have a big wedding, unexpected costs, or simply the effort of trying to recreate the dream wedding scenario you’ve had in your head since you were little, can all conspire to escalate the costs of your wedding without you realising.

Thankfully there are many ways in which weddings can be financed, quickly and easily, so you don’t have to compromise on having the day you’ve always wanted. From trimming unnecessary guests to having a friend do the photos, there are plenty of ways in which costs can be cut from every corner. And when you make many little savings, you’ll soon find that you’re able to save a decent sum of money overall.

Of course, if you’ve made all the savings you possibly can but still come in over budget, there are many other ways of gaining additional financing for your wedding. From asking relatives for help to applying for secured homeowner loans, sourcing additional funds can be quick, easy and headache-free. Just remember to sort out your finances well in advance of your wedding, so the only thing you’ll have to worry about on the day will be the groom’s dancing.

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Date:
April 5, 2013 um 8:21 am
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Personal Finance
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