Wedding Costs in 2023: What Should You Prepare?

Weddings have been getting bigger and bigger over the years, to the extent that some are saving for it well in advance. Preparing for the type of costs you might face will help you get the best value for money. Here’s how you can prepare and make the most of your budget.

How is inflation affecting wedding costs in 2023?

Understandably, the topic of inflation has been on the tip of everyone’s tongue. It’s prompted costs to skyrocket and is something worth factoring into your wedding planning budget. According to a recent survey, the average UK wedding in 2021 cost over £17,000, so when you add rising costs on top of this, it really is a significant amount.

You might find that venues or smaller businesses providing the likes of flowers or wedding favours have upped their prices to support their business in light of rising energy bills and costs of sourcing materials. Food prices in particular have risen, so catering suppliers may charge more than you might expect.

Remember, what you choose to prioritise for your wedding is in your hands and it is still possible to plan one on a budget.

Which major expenses should couples consider when budgeting for their wedding?

Some of the biggest culprits when it comes to wedding costs are the venue and catering, with some fees being well into the thousands. Even a wedding photographer tends to charge well over £1,000 for a full day.

Other elements that can set you back hundreds of pounds include flowers, a wedding cake and a videographer. On top of this, the wedding dress, plus hair and makeup alone can be costly. That goes without mentioning suits and bridesmaid dresses.

Seeing these costly components bundled into a long list can be overwhelming, but if you approach the planning with care, you can secure your dream wedding within budget. Securing a loan can be helpful to handle these costs. If you’re worried about your credit score, seek out a provider that won’t penalise you for this.

What can couples do to adopt to manage wedding expenses effectively in 2023?

Other tips to manage wedding costs include writing down everything you want to spend money on – the more realistic you are, the more prepared you’ll be. Don’t forget seemingly insignificant costs, like invitations or gifts for the bridesmaids as it all adds up!

It’s sensible to have a buffer pot of money to cover any unforeseen costs. Planning in advance will help you identify cheaper venue dates that are out-of-season or packages that bundle multiple elements into one, from catering to a DJ for the evening. Think about where you can cut costs, taking into account things that you, family or friends can help with.