Couples spending £1,440 on hidden wedding costs

Married couples are spending £1,440 on average on hidden wedding costs, according to new research from Compare the Market. These unanticipated expenses, which couples may not typically consider in their initial budget, could include beauty and hair trials, wedding outfit alterations, wedding insurance, gifts for guests including bridesmaids and groomsmen, as well as travel and food expenses for wedding suppliers.

One in four couples (25%) noted the higher-than-expected cost of beauty and hair trials, while almost a quarter (23%) were surprised by the price of wedding outfit alterations. Couples also said they had been surprised by the cost of meals for those working at the wedding such as caterers and photographers (21%), wedding invitations and postage (18%), and wedding guest favours (18%).

More than eight in ten couples purchased wedding invitations (82%), spending £141 on average. More than one in three (37%) took out wedding insurance, for which they paid an average of £92, while seven in ten (70%) paid for meals for people working at the wedding, spending £392 on average.

One in four (40%) paid for guest parking for their wedding, paying £366 on average. Six out of ten couples required wedding outfit alterations (62%), for which they spent £192 on average, and three in four bought gifts for bridesmaids and groomsmen (75%), spending an average of £184.

Eight in ten (79%) couples said they had been concerned after discovering the unanticipated expenses of getting married while a similar proportion (77%) said they continued to feel the effects of the additional costs after getting married. On average, Brits felt the financial impact of hidden wedding expenses for around two and half years after getting married.

Nearly six in ten (59%) paid for the additional costs of getting married using their personal savings while over one in three (37%) received help from friends or family. More than a quarter used a credit card (27%) and over one in ten used a personal loan (13%).

Guy Anker, Director at Compare the Market, said Couples will typically spend a considerable amount on their wedding to try to make the day as special and memorable as possible. There are however some costs which couples may easily overlook when creating their budget, but which could push up their final bill significantly.

“For couples hoping to start saving for their wedding, it could be beneficial to compare different savings accounts online to find one that suits your needs. It’s important to set out an overall budget and break it down into categories to see whether there’s anything you might be able to save on.

“For couples who wish to then bridge the gap with some expenses and decide to take out a credit card, shopping around is a great way to see what deals are available and right for your specific circumstances. If you need to borrow, many credit cards offer a promotional set period of 0%, which could help you spread the cost without paying any interest. Once the introductory offer ends, you’ll start to be charged interest on any outstanding balance. It’s important to remember not to over-commit yourself and to make the minimum payments during the 0% interest-free period with an aim to have it fully paid off before the offer ends, otherwise there is a risk of longer-term debt.”