Savvy couples request money over wedding gifts amid cost of living crisis
Savvy couples are looking to use wedding gifts to invest in savings amid the cost-of-living crisis, new national research has revealed1.
The survey, conducted by Coventry Building Society discovered almost a quarter of newlyweds (24%) put money received as a wedding gift straight into a savings account, with more than one in ten couples (15%) using money to pay off wedding debt straight away. What's more, over half of respondents (57%) just want money as their wedding gift, opting for financial safety over traditional gift giving (43%).
The UK-wide study was carried out following the first UK Wedding Fayre of the year, the National Wedding Fayre: Coventry Building Society Arena, which took place last weekend. Research from Coventry Building Society which sponsors the arena also reveals that Brits are spending less on their special day, since the cost of livening crisis hit with the average cost of a wedding dropping to £10,348 compared to £18,000 in 20222 One in five couples (21%) resort to borrowing money to pay for their big day, with 37% of these borrowing from the bank of mum and dad and 21% using a loan or credit card to provide financial support. Despite this, around a third of couples (33%) admit to spending more than their allocated budget, with rising costs of services such as food and drink (36%), venue hire (26%) and flowers (21%) the biggest surprises leading to overspending.
Regionally, those living in the capital expect to pay the most for their wedding day, with Londoners forking out £13,649 on average. At the opposite end of the scale, those living in Leeds aim to keep costs low on their big day, with couples spending an average of just £5,650. Jon Wilson, Savings Manager at Coventry Building Society, said: "Our research shows that now, more than ever, couples are looking towards financial gifts on their wedding day in attempt to balance the books after their big day.
"At a time when savings are one of the biggest concerns for Brits amid the cost-of-living crisis, newlyweds are opting to put money straight into their savings account after their wedding, rather than splurging on a honeymoon or other significant costs.
"There's a competitive range of savings accounts across the market that can suit all types of saver that can often be opened with as little as £1. Whether it's saving a lump sum to put money down on a first home following their wedding, or saving little and often for a rainy day, couples that take a few minutes to shop around will soon find the right accounts for them."
The National Wedding Fayre, Coventry Building Society Arena, is an annual event which showcases the latest bridal and formal wear fashion and give couples the chance to book everything for their big day all under one roof.
For further information on Coventry Building Society, visit the website here.
Bridal Showers Are Becoming the Biggest Pre-Wedding Trend of 2026
Not sure where to start? Don't worry - experts at Abbott Lyon have put together simple steps to help you plan the perfect bridal shower, so everything runs smoothly and the bride (and her besties) can enjoy every moment of the day. You know the bride better than anyone - after all, she's asked you to be a big part of her big day. Think about what her vibe is and what she's into. Is she more about getting pampered at a spa day or would she prefer a wild brunch somewhere? Also, think about who's coming to the bridal shower. Will her older relatives be there or will it be mainly her friends? Are work colleagues coming? You want to make sure anything you plan is appropriate for everyone to enjoy.
READ ARTICLE
Claire Hill Designs Launches Lichen Gemstone Collection
Cardiff-based Claire Hill Designs launches the Lichen Gemstone Collection perfect for brides, bridesmaids, mums and guests. Jewellery is becoming more personal and this year, the focus shifts from purely decorative pieces to designs that carry meaning, symbolism and intention. Brands across the jewellery industry are embracing this movement. Within the luxury market, jewellery houses including Bvlgari, Van Cleef & Arpels and Pomellato are championing coloured gemstones and symbolic design, signalling a wider shift towards jewellery that blends meaning, storytelling and personal expression. The message is clear: customers are choosing pieces of jewellery that reflects who they are and what they value.
READ ARTICLE
5 Tips to planning a perfect hen weekend in the UK revealed
61% of pre-wedding parties now stay in the UK as safety, cost, and connection reshape how Brits celebrate. Rising airfares, safety worries and global tensions, including travel hesitancy linked to the ongoing conflict, have fuelled a dramatic turn in how Brits celebrate before tying the knot. According to new figures, 61% of hen parties now take place in the UK, marking a clear shift from pre-pandemic years when city breaks in Europe dominated.
READ ARTICLE
Guests Spend £348 On Average to Attend A Wedding, Says Expert
Wedding guests across the UK are spending hundreds of pounds just to attend a single wedding, with new research revealing the growing financial strain placed on friends and family. Research* commissioned by The Insurance Emporium, conducted by Censuswide, has revealed among people who have attended a wedding in the last five years shows that guests spend £348 on average to attend a wedding - with costs rising even higher in major cities. The wedding insurance specialist's findings reveal that 72% of guests now say attending weddings has become a financial burden, while 38.2% admit they have felt pressured to overspend in order to attend.
