By 2028 the average cost of a wedding will have reached £32,064, according to a recent study.
Most people plan on only getting married once in their lives which is why - from the picturesque venue and the delicious catering to the beautiful dress – people are willing to shell out the big bucks for their ideal Big Day.
Although we’ve been under no false illusions over the expense of weddings, recent research has shown that the figure is (unfortunately) set to rise. The average wedding in the UK may cost £27,000 in 2018, but in 10 years’ time it will have amounted to £32,064 (basically a house deposit for most places in the UK).
The report, carried out by Money.co.uk by compiling data from the Office of National Statistics, took into consideration rising inflation and expenses to make the prediction. While looking at data from the past 80 years, they found that the average wedding cost £18,773 in 2016 – meaning that in just 22 years, there will have been a predicted 60% increase in martial expenses by the time 2028 rolls around.
With British couples currently saving £105 per month for the Big Day, it will take around a decade to save for a wedding (if the prediction is spot on).
And the news keeps on getting better for couples over the next decade. Not only it is going to be super expensive to tie the knot, but if it doesn’t last the long haul, a divorce is going to cost you too.
The average cost of a divorce is predicted to rise by 25%, from £47,014 to £60,415 by 2028. In comparison, back in 2003 it cost about £13,050 to go your separate ways.
But with eloping on the rise in 2018, maybe heading off for the hills isn’t such a bad idea after all?