Nationwide’s research shows guests are spending an average of £221 on the wedding day itself, paying for new outfits, gifts, travel, hotel stays and drinks, although one in six (17%) spend over £300. Interestingly, men spend the most on attending the wedding day (£225) compared to women who spend £217. Younger guests, aged between 18 and 24, seem to put more importance on the pre-wedding celebrations, spending the least on the wedding day itself (£127) compared to all other age groups, whereas people aged over 55 spend the most on attending the wedding ceremony (£280).
Phil Smith, Nationwide’s Head of Current Accounts, said: “Sharing in someone's special day is a wonderful occasion, but it can turn into a costly experience, particularly for serial guests. But there are many ways to budget better, such as finding deals on transport and hotels in advance, travelling with other wedding guests to reduce cost and buying a present from the gift list early in order to bag a cheaper item. Putting a little money aside regularly can also make a big difference come the day.
Nationwide current account customers can manage their money on the move easily with the Society’s mobile banking app, which includes Quick Balance, allowing customers to see their balance at a glance without logging in, and Impulse Saver, which gives customers the opportunity to save small amounts at the swipe of a finger. These features are an ideal way for people to budget and get into the habit of saving money for those special occasions like a wedding.”
* One Poll research: total sample size was 2,000 adults, of which 1,480 said that they have attended both a wedding and a stag/hen do. The survey ran from the 08/05/2015 to 12/05/2015.