Weddings: A Party for your Parents?
The increasing cost of weddings shows no sign of slowing down, with the average bill hitting almost £22,000. So, it is no surprise that hard-pressed couples get a substantial helping hand from their parents.
FSCS research reveals 75% of parents contributed to all or some of the cost. With parents on average paying for a third of their child’s wedding, this means they’re pumping in almost £7,250 towards the big day. And 13% of parents say they pay for all of the cost.
So it is no surprise that some see it as their party as well. Over one in five (21%) of recently wed children said disputes with their parents were common, with over half (55%) the arguments being over the guest list.
FSCS research shows that half (48%) of couples said their parents wanted to send wedding invitations to guests they did not want to attend. And of these, 68% said at least some of these guests ended up being invited, and 34% saying all or most made the list.
Alexandra Merri of thebijoubride.com, says: "A wedding is a celebration and everyone can play their part. It makes the day that bit more personal if family members have some involvement. Wedding planning is a full time job so divide and conquer, perhaps Dad can be responsible for sourcing the wine and Mum can assist with the cake. Giving each key family member a role in the planning or on the day will make everyone happy".
Regardless of who pays for the wedding, FSCS protects savings or up to £85,000 per person in UK authorised banks, building societies and credit unions. Anyone who is saving for a wedding, whether the happy couple or their parents, can rest assured the money is safe. Visit www.fscs.org.uk/protected for more details.