What's the true cost of weddings?

What's the true cost of weddings?: Image 1 MoneySuperMarket, the UK's leading price comparison site, reveals the cities with the highest wedding costs...

MoneySuperMarket, the UK's leading price comparison site, today reveals the cities with the highest wedding costs – with over a quarter (26%) of people living in the capital spending over £20,000 on their big day.

Cambridge is close behind, with 18% of adults polled crossing the £20,000 mark to celebrate their nuptials, compared to the UK average of 12%. Chelmsford in Essex comes in third at 16%.

Although it may be billed as the best day of your life, over a tenth (14%) of Brits admit that wedding finances are their biggest worry when it comes to tying the knot – beating 'embarrassing family members' (12%), 'marrying the right person' (7%) and 'being jilted at the altar' (4%).

The new research also shows that tradition lives on, with over half of brides polled saying their dad helped with the cost of their wedding, compared to a third of grooms' dads (36%).
This is just as well, as over a third (34%) of married or previously married couples said they had 'no idea' how they would pay for their wedding when they got engaged. Although a fifth of Brits were able to fund a significant amount of their nuptials through their monthly salaries, 44% paid for half, or less, of their own weddings. With the average cost of a wedding set to be over £30,000[ii], the research found that a fifth (21%) of couples borrowed money to help pay for their wedding, with credit cards (11%) and wedding or personal loans (7%) the most popular forms of credit.
Those from Belfast are most likely to take out a loan specifically for the big day (7%), closely followed by Londoners (6%). Londoners are also most likely to use an existing credit card to fund their weddings (19%), followed by those in Newcastle where 16% of married couples use this form of payment, compared to the national average of 11%.

The top 10 cities where couples spend over £20,000 on a wedding:
1). London 25.94%
2). Cambridge 17.64%
3). Chelmsford 15.69%
4). Glasgow 12.81%
5). Leicester 11.96%
6). Leeds 11.40%
7). Manchester 11.23%
8). Newcastle 10.80%
9). Southampton 10.15%
10). Sheffield

 
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