Wedding season is here. Happy couples want their day to be as perfect as possible, but with the cost of living soaring, many want to save as much as possible.
With daily expenses such as rent, mortgage payments and food on the rise, some people are delaying wedding planning as they simply can’t afford the date they want at the moment.
One in 11 couples (9%) between the ages of 18 and 34 say they will delay planning their wedding because of the rising cost of living, according to a new survey by credit Karma, a personal finance company. Additionally, 7% of her couples in this age group say they have no plans to have a wedding at all, citing the overall rising cost of living.
Meanwhile, a survey found that many people in a hurry to get married rely on trust to proceed with their wedding.
Nearly two-fifths (39%) of those paying for their weddings rely on credit, according to a March survey of 4,000 people across the UK by pollster Opinium. This rises to 48% for engaged couples aged 35-54.
“Wedding season is upon us and soon-to-be couples across the country will be thinking about their big day,” said Akansha Nath, Head of Partnerships at Credit Karma.
“Although it’s one of the happiest days of a couple’s life, it’s also the most expensive, with two in five couples needing credit to finance their wedding plans. The financial burden of the wedding can cause people great anxiety.” More than half of engaged couples are planning to scale back their weddings amid the cost-of-living crisis.
But Nath added, “Some things are out of our control, but there are some things couples can do to reduce their wedding costs before I tell them.”
So what are Nath’s top tips for keeping wedding costs down?
Borrowing money is never a decision to be taken lightly, but according to research by Credit Karma, many couples will put at least a portion of their wedding expenses on credit. “Consider a 0% credit card to cover some of your wedding expenses,” says Nath. may become.”
“You can make a note of when the 0% introductory period ends so you can plan to pay off the balance before interest accrues.”
She also suggests changing Saturday as the day of the week to get married.
“Let’s get married on Friday,” Nath suggested, adding, “We have the added benefit of celebrating all weekend!” Some venues offer mid-week weddings at significantly lower prices, so it’s worth researching and comparing offers.
According to Nath, doing a “DIY” can not only add a personal touch to your big day, but it can also save you a lot of money. You can make your own wedding favors, arrange flowers, or ask a friend or family member to help you make a cake if they are good bakers.
Instead of making a traditional big cake, using separators and adding flowers and fruits can make small cakes look bigger and more gorgeous.
You might also want to ask for cash or coupons instead of having a traditional gift list that your guests will appreciate. “This is one of the ways he can recoup some of the cost of a wedding or honeymoon,” Nath said.
Many couples live together before marriage, so many already own household items that would have been on a traditional wedding gift list.
In addition to Nass’ tips, it might also be worth considering a venue that can be used for multiple hours rather than just part of the day, which can save you significant travel costs. For example, a place where guests can stay, or a place where the ceremony and reception can be held at the same time.
It’s also worth getting a few quotes to compare, which can also help when negotiating the price. Keep a solid budget in mind for categories so you don’t overspend.
Browse auction websites and charity shops and buy some items second hand. For example, if you want to give your wedding a bit of a vintage theme, you can buy relatively cheap tea sets from charity shops for your guests to eat and drink.
A vintage wedding dress is unique in appearance and can cost significantly less than buying new, even if it needs alterations. Or, if you want a more contemporary look, it might be worth renting a dress instead of buying one. That way, at least, you’ll have all the “borrowed” elements of your big day in place too.
