Wedding season is here, and, while it’s an expensive time for couples tying the knot, guests can also feel the strain on their wallet.
According to American Express, guests can expect to spend £391 each on average to attend a wedding this year – that’s £88 more than in 2018.
The rising costs associated with weddings can sometimes lead to tensions. But nobody should feel pressured to blow the budget or put themselves in serious debt. And, with some careful planning, there’s usually a happy compromise.
Rachel Springall of Moneyfacts shares the following money-saving tips for keeping that wedding budget on track…
Save little and often
Easy access accounts are a fuss-free option. The top deals have improved over the past year too.
Prepare to compromise
Making some tweaks to your plans can help you save cash, such as choosing a buffet over a sit-down meal.
Hiring a wedding venue, catering and entertaining guests are usually the biggest costs of the day, so plan guest numbers well in advance.
Make the most of credit card perks
Credit cards can give you added protections on purchases if something goes wrong, as well as interest-free periods to help your budgeting.
There are many 0% introductory purchase credit cards that could be used to cover any unforeseen costs.
A low-cost loan could help
It’s best to avoid debts where possible. But if you must go into the red, some personal loan rates are offering relatively low rates. Consumers could potentially borrow £15,000 over five years for as low a rate as 2.9%.
Find some cash
Many current account providers are offering cash to switch to them. If you think you could be better off elsewhere, try switching using the seven-day current account switch service.
And here are five tips for wedding guests, from American Express…
Plan your journey
If you’re going by train, consider booking tickets in advance to get the best deals and ensure you are allocated a seat for a long journey.
Go halves on a gift
Team up with a fellow guest when buying a present to buy the happy couple a more expensive gift without over-stretching your budget.
Get sales shopping
Nearly half (48%) of wedding guests buy their outfit in the sales. Lots of stores are having sales now. If you have a wedding later on in the year, sign up for sales notifications now so you can bag a bargain on your outfit.
Pick and choose
If you are concerned about the high cost of attending pre-wedding celebrations, perhaps choose just some activities to take part in. You can still show your support while making sure you can afford to take part in the fun.