It’s of no surprise to anyone that a wedding can be a costly business – but we imagined that most of the money was usually spent by the bride and groom.
New research from Provident, however, shows that even attending a wedding these days can put a serious dent in your bank balance, to the tune of more than £1,000.
The small-scale study, which took into account responses from 1,040 wedding guests, showed that by the time you’ve paid for elements including your outfit, travel and accommodation, childcare, a gift, and the all-important hen or stag do, you’ve probably spent a princely sum of £1,015.
And that’s not all – this number typically rises to £1,058 if you’re a bridesmaid, and (brace yourself) £1,450 if you’re a parent of the bride. Know someone who’s tying the knot abroad? Jetting off to join them will set you back around £2,050 – more than double the average cost of attending a wedding in the UK.
To help us all manage the growing cost, Provident has put together a wedding guest calculator, to help you work out how much you’ll need to save in order to attend a friend or family member’s big day. Simply enter your level of involvement in the wedding party, the location of the wedding and how much preparation you’ll need to do, and the calculator will generate a figure for you to focus on.
In September last year, wedding planning website Hitched revealed that the average cost of a wedding in the UK had reached £27,161 – the highest it has ever been. They also identified the most expensive parts of the wedding day: the venue hire (£4,354), the honeymoon (£3,630), and the food (£3,353).
More than half of couples surveyed at the time were paying for their weddings with a little financial help, while 32 per cent were funding their big day completely independently.