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 Despite the simplest
of civil marriages costing less than £50, the average
cost of getting married in the UK is around £11,000
with the vast majority falling between £5,000 and
£15,000.
This may seem a staggering sum, but when you add up all
the various elements that make up a traditional wedding,
you will see how easy it is to reach (and exceed) this amount.
It is, therefore, important to decide at the outset who
is going to pay for your wedding to avoid any unwanted financial
pressures and conflicts during the planning period.
Traditionally, the wedding day is hosted by the bride's
parents and paid for by the bride's father. Today, the etiquette
of old is far less rigid and only about 30% of weddings
are paid for by the bride's parents. More and more couples
are opting to pay for their own wedding since they are then
free to choose exactly what they want without the worry
of putting their parents under financial strain. Recent
research has shown that about 50% of weddings are now paid
for by the bride and groom and about 15% are paid for by
everyone contributing in varying degrees. However, many
brides' fathers have prepared themselves for their daughter's
marriage by saving well in advance and they welcome the
opportunity to exercise their prerogative.
Browse Confetti's range of wedding
books, written specially for the groom.
To
quickly find what you want just use this drop down menu:
If you intend to adopt the traditional responsibilities for
paying your wedding expenses, the following usually applies:
Click on any of the links above to go through to the Confetti Supplier Directory and find local suppliers. The best man does not usually pay for anything although he
will pay for the marriage ceremony on the day with money given
to him by the groom.
Paying the full cost of your wedding may be beyond the means
of your bride's parents. Indeed, you may feel it is unreasonable
to even consider anyone but yourselves footing the bill,
especially if you are both working or are older than the
traditional age for first marriages. However, many parents
would like to contribute to the cost and you should be sensitive
about your parents' desires.
If your bride's parents wish to contribute and you are happy
for them to do so, it is well worth sitting down with them
and discussing what sum they feel comfortable paying. This
way, when you have agreed your budget, you will know the
extent of what you will have to pay yourselves.
Alternatively, you may wish to estimate the costs for the
type and style of wedding you want and then let your bride's
parents see what your estimates are. Etiquette dictates
that you show your estimated costs to your bride's parents
first so they have first refusal. Once you know what your
bride's parents are happy with paying, you can then decide
whether it is appropriate to show the estimate to your parents
or simply decide to pay the balance yourselves.
Probably, the question of who will pay for your wedding
was talked about, albeit in broad terms, when you discussed
your engagement with your bride's parents. Knowing their
feelings on the matter will give you the best possible guidance
on who you can approach now that your plans are more tangible.
For advice on producing an estimate of your wedding costs,
please read our main article on Budgeting
Unless you are well off, chances are that you will have
to save up to pay for some or all of your wedding. Even
if your bride's parents are paying the usual wedding expenses,
there are several expenses that you are both responsible
for. You may want to have an exotic honeymoon or your bride
wishes to buy a special designer wedding dress that she
has fallen in love with.
If you need to save, why not open a joint wedding account
with a building society. You could each arrange for a standing
order to transfer money from your current account shortly
after you get paid each month. It is surprising how quickly
a sizeable sum can accumulate. But do shop around for the
best rates since they do vary. Generally, you will find
that the longer you are prepared to leave your money invested,
the better the interest rate you will receive.
However, on some savings accounts if you withdraw early,
there will be an interest penalty, so make sure you are
aware of the conditions of withdrawal. Most major building
societies have web sites that enable you to check their
current rates. Alternatively, most good quality national
newspapers have a personal money guide section that is usually
published on a Saturday. The guides often give a summary
of the best rates on offer for the different types of savings
accounts available. For further information on this subject please take a look at our article, Inviting
Your Guests.
Internet
savings accounts such as those operated by first-e and egg
are currently offering the highest interest rates due to
their low operating costs and introductory promotions. If
online only banking is to your liking, then check out these
savings accounts.
Why not consider buying some premium bonds. With interest
rates generally low, you will not lose out on too much interest
but you stand to win one or more of 500,000 prizes each
month. Your investment (minimum of £100, maximum £20,000)
is 100% safe and refundable and who knows, you might win
the £1,000,000 top monthly prize. The odds of winning
any prize in each month's draw (the smallest prize is £50)
are 21 thousand to one for each £1 premium bond. You
can get an application form from any post office or you
can telephone the National Savings helpline on 0645-645000.
The national lottery may seem an attractive method of getting
very rich quick but when you consider that your chance of
winning the jackpot is about 14 million to one, it is extremely
unlikely. However, the odds of winning a prize each draw
(minimum £10) is 54 to one for each £1 entry.
But remember, if you don't win a prize, you lose your stake,
so entering the lottery is gambling and not a savings plan!
Whichever method you choose to save, some degree of self discipline and sacrifice will be required.
But it will be well worth the effort if it means that you will be able to afford the wedding that
you both really want and you are able to start your married life without a debt for your wedding.
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