If you thought weddings were expensive enough already – the average in the UK now costs around £27k – you're about to get a rude awakening.
The average price of getting married is going to increase to £32k in the next 10 years, according to projections based on data from the Office for National Statistics.
When you compare this to the average UK salary (£27,500 in 2017) – and the fact that the UK was forecast to have the worst wage growth of any wealthy nation this year, and who knows what will happen to our salaries post Brexit? – it doesn't look good for British couples who want to tie the knot.
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The average cost of a wedding in 2006 was £18,773, meaning the figure will have ballooned by 60% in the 22 years to 2028, according to money.co.uk, which analysed ONS data from the past 80 years to make the prediction, taking into account inflation and rising expenses.dding
British couples are saving an average of £105 per month for their weddings, meaning it currently takes about a decade for the average couple to save for their big day.
Couples who want to end their marriages in a decade's time will also be in for a nasty shock too, the data suggests. The average cost of divorce is projected skyrocket by 25% from £47,014 to £60,415.8512 in 2028. Yikes.
Back in 2003, when the earliest data in this survey was recorded, it cost an average of £13,050 to terminate a union, meaning that in just a quarter of a century the cost of divorce will have risen by 360%.
While these figures are just predictions based on trends in official data, and external events like Brexit and the state of our wages could impact our finances, it might be time to start saving, or rethink what kind of wedding you want, if any.
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