March Press Release:
Are you planning to get married in 2024? Congratulations!
There’s no denying that weddings with all of their associated costs can come with a hefty price tag.
In 2022, the average cost of a wedding was £19,184, which was up 16% on the previous year. Data released by Bridebook revealed that couples getting hitched in 2022 spent an average of £7,683 on their venue, £4,868 on catering, and £920 on a florist.
The good news is that you don’t need to spend a small fortune to enjoy your day.
Whether you’re planning a lavish affair with all the trimmings, or a private ceremony for just the two of you (plus witnesses), there are a number of ways that you can make your dreams a reality, whatever your budget.
Dan Whittaker, personal finance expert at Vivamoney.co.uk, shares six tips on how to cut the costs of wedding expenses in 2024.
1. Set a budget
“We get it – talking budget is one of the least exciting wedding activities, although it’s possibly the most important part of planning your big day,” Dan says. “First, make a list by dividing each item or service into three groups; the necessities, such as catering and bride and groom attire; things you’d really like, such as a flower arch; followed by the ‘nice to haves’ (a donut wall, anyone?).
“Decide on a realistic, overall budget, and then break the total down into separate budgets for each of your three groups. You should prioritise the necessities and the things you’d like. Any money left over after could go towards those little ‘nice to haves’.
Wedding spending can quickly get out of hand. In 2022, 47% of couples admitted to going over their set budget. Having a plan in place from the offset could prevent you from overspending.”
2. Money-saving months
“Being flexible with the time of year that you choose to get married could save you money,” Dan states. “Peak wedding season in the UK is generally between May and October. While December is not strictly in season, many couples set their hearts on a winter wonderland-themed wedding which may contribute to a hike in prices around the festive period.
“The cheapest months to get wed are typically out of season, and include January, February, late October, and November.”
3. Save the date
“You’ve chosen your ideal month, now all that’s left to do is narrow down the search and find the perfect date. It goes without saying that Fridays and weekends tend to be the most popular days of the week to get hitched and therefore the most expensive. In 2022, 50% of couples said ‘I do’ on a Saturday, compared to just 4% on Mondays and Tuesdays.
If you’re looking to keep the cost of the big day down as much as possible, consider tying the knot between Monday and Thursday. The added bonus here could be that your chosen venue is more likely to have availability on these days, eliminating the stressful mad scramble to secure that one Saturday in June that everyone seems to want.”
4. Hit up the high street
“When it comes to wedding supplies, the high street and lower-range online retailers are often unfairly overlooked in favour of more bespoke, professional services and specialist boutique stores. In actual fact, high street stores can be just as good – if not better – than designer wedding services, with the added bonus that they can be a lot cheaper, too!
“You’re likely to be able to source anything - from bridesmaid dresses and table decorations to invites and guest books - on the high street. For example, Boohoo stock a range of affordable bridesmaid dresses from as little as £5.
“When searching for wedding supplies, don’t forget to shop around and check out sites such as eBay before you commit to paying the first price you’ve seen.”
5. Get creative with DIY decorations
“Think twice before paying for a venue dresser. Hiring someone to design and do the work for you may save you time, but could also eat into your budget.
“Getting creative and thinking outside the box could open up a whole world of penny-saving opportunities. A winter wedding? Why not deck your venue with sprigs of fresh holly and mistletoe for a festive (yet frugal) feel? If you’re having a spring ceremony, vases of vibrant daffodils make simple yet stunning table centrepieces. Daffs can be found in most major supermarkets for around £1 per bunch.”
6. Put yourselves first
“When planning a wedding, it can feel like everyone has an opinion, and it can be easy to start putting the suggestions and requests of friends and family before your own wishes.
Whether it’s your cousin demanding a magician to keep the kids entertained, or a friend clamouring for a plus one, you are under no obligation whatsoever to fork out for anything that wasn’t part of your initial budget.
“The most important thing to remember is that you can’t please everyone. This is your day, and you have to do what feels right for you, your partner, and your finances.”
Viva Money has shared hints on how to save money ahead of wedding season.
-ENDS-
About Viva Money
Viva Money is not a lender but is a fully regulated and authorised credit broker. Viva Money is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioners Office, (registration number ZA007309)
Website: https://vivamoney.co.uk/
Dan Whittaker - Personal Finance Expert at Viva Money
Dan has worked in the consumer finance sector for over a decade in a number of roles, including developing and maintaining commercial partnerships, marketing, and digital development.
Dan has strong market and product knowledge across a range of consumer finance products including, but not limited to, credit cards, savings, loans, and mortgages.