Cost of attending weddings hits £10.45 billion

New research by Santander Cards suggests that the average spend on weddings for average wedding guests in the UK has reached £380 per wedding, equating to a national spend of £10.45 billion.

The biggest outlay that wedding guests face is travel and accommodation (£210), followed by a wedding present (£131), outfit and accessories for the day (£123) and the cost of attending the hen or stag do (£114).

When it comes to funding the cost of attending a wedding, 65% of Britons use their salary, 27% rely on savings and 14% use a credit card. However, 4% have had to resort to other means of borrowing to fund the expense of being a wedding guest, with 3% borrowing from family or friends, and 1% using a personal loan.

With the average age for first marriages in England and Wales currently standing at 32 for men and 29 for women, it’s no surprise that those aged 27 to 34 are most likely to be attending a wedding this year, with nearly half (47%) of this peer group attending at least one wedding. For the 5% who are attending three to four weddings, the average total cost can work out at £1520.

Emma Roberts, Director of Santander Cards, said:

“It’s easy to overlook the cost involved in being a wedding guest but the outlay can be significant, both before and during the big day. The last thing people want to be thinking about when preparing for a loved one’s wedding is the expense involved but costs can quickly mount up, especially for those who have several weddings to attend in the same year.

“To avoid suffering a financial hangover long after the wedding festivities have come to an end, those who have put spending on a credit card should make sure they transfer their balance to a 0% deal to manage their money as effectively as possible.”