For better or worse – not necessarily worse off

WEDDINGS aren’t half as expensive as we think, literally in some cases, exclusive research for moneysaver HQ suggests.

The Canstar survey of 3000 revealed unmarried Australians anticipate spending more than $35,000 in total costs for their big day, while those of the 1900 respondents who had been married, actually spent just $12,932 on average.

The survey included people married in every decade since the 1960s, but even those who tied the knot between 2015 and now reported an average cost of $19,018; which shows people are conditioned to expect to pay more than necessary, according to Canstar spokeswoman Belinda Williamson.

“The wedding industry makes a great deal of money propping up prices as soon as ‘wedding’ is mentioned,” Ms Williamson said.

Breaking it down by states, couples in NSW anticipated spending a staggering $72,141 – more than four times the actual spend of $17,242.

“In NSW, people look at property prices, cost of living and everything else seemingly being more expensive, so they think the cost of a wedding will also be more,” Ms Williamson said. Victoria ($24,743), Queensland ($18,600), South Australia ($15,272), Western Australia ($12,709) and ACT ($11,500) were next, while Tasmanians expected to pay $8747 and Northern Territorians just $7500. Some couples were looking abroad for value, according to global payment firm TransferWise. moneysaver HQ editor

“Couples are thinking about everything from buying their items from overseas, to where to hold the ceremony and of course how to pay for it all,” TransferWise spokeswoman Anhar Khanbhai said. “Savings can be made by buying decorations in bulk overseas and brides can buy wedding dresses from overseas and get them altered locally.”

British man Leon Kallstrom met his American wife, Sonja (left) in Sydney and, with family around the world, faced huge potential costs when planning their California wedding. They decided to play it smart.

“We focused most our money on getting the right location,” Mrs Kallstrom said. “We kept the side events very casual and let guests choose and pay for the things they were interested in doing.”

The couple resisted “advice” received from industry retailers.

“There are so many things the wedding industry makes you feel you need that don’t matter to guests,” Sonja said. “Things like monogrammed candy on top of fancy dinner plates. The things people remember have to do with the conversations they have, the emotions they feel … and great music, food and wine.”

They saved thousands using TransferWise to pay in advance.

“At the time we were planning the wedding the exchange rate was forecast to drop dramatically – not in our favour – so we hurried to transfer as much money as we could, six months in advance,” Mrs Kallstrom said. “This was essential to being able to afford an overseas wedding as every percentage point mattered.”

Tim McIntyre (02) 9288 2226 tim.mcintyre@news.com.au

• Set a sound budget you’re comfortable with, including a small fund for mishaps.

• Go digital and consider online invitations and save the dates.

• Purchase your own table styling items and plants rather than hiring them, and aim to resell them.

• Towering cakes may have had their day, why not spare the expense and opt for a smaller, fancier cake?

• Skip paying for a musician or DJ and instead create your personalised playlist on Spotify together ahead of time.