Wedding Budgets Slashed
In these frugal times it seems that everyone is tightening their belt and that includes future brides and grooms. There have been plenty of media reports to suggest that wedding budgeting decreased in 2010 and will almost certainly decrease again in 2011 as the VAT rises hit home.
Couples are now more prepared to shop around for their big day and look for cheap deals rather than luxury as the costs associated with getting hitched start to soar. Getting your wedding done on a budget is now the popular thing to do.
Getting that fabulous wedding dress will now cost more as clothing prices have risen by 2.2% this year according to the BBC website and that figure does not include the VAT rise from 17.5% to 20% in just a few weeks time. Toasting the bride and groom will also be more expensive as alcohol has seen a rise of 6.5% in this last year.
The Observer writing in August stated that the average cost of a wedding for 2010 is around £21,000. That’s almost enough to bring a tear to your eye! But that cost will rise again in 2011 and with spending cuts and wage freezes on the way, many couples are finding wedding costs just a little too hard to swallow. When you realise that the majority of couples budget between £5,000 and £15,000 and the average wedding reportedly costs around £20,000 you begin to see just how many savings each couple needs to make to stay within budget. Many couples are being forced to buy second-hand and compromise on things like the venue and the number of guests invited.
You may be planning for your big day but you will also need to plan for a big hole in your savings.
Are you having to plan a budget wedding or are you dismayed at how much the day will cost? Let us know your thoughts on this story.