WEBVTT - The Cost of ‘I Do’ 0:00:01.920 --> 0:00:03.750 While your wedding date is one of the happiest days 0:00:03.750 --> 0:00:05.550 of your life, it can also be one of the 0:00:05.550 --> 0:00:10.080 most expensive days. In 2023, the average UK wedding costs over 20, 0:00:10.080 --> 0:00:14.100 000 pounds with the cost of living and inflation pushing 0:00:14.100 --> 0:00:18.270 up prices from 2022. But proper planning, budgeting, and research 0:00:18.420 --> 0:00:20.280 can help you build the day of your dreams and 0:00:20.280 --> 0:00:22.620 reduce the financial stresses to that you focus on the 0:00:22.620 --> 0:00:25.139 fun build up to your big day. Welcome to another 0:00:25.140 --> 0:00:27.270 episode of A Little Bit Richer, brought to you by 0:00:27.270 --> 0:00:32.010 my friends at Legal and General. Here to help us 0:00:32.010 --> 0:00:34.110 navigate the world of weddings and how to manage the 0:00:34.110 --> 0:00:37.290 costs is Ellie Austin- Williams. Ellie is the author of 0:00:37.290 --> 0:00:40.320 Money Talks: A Lifestyle Guide for Financial Wellbeing and the 0:00:40.320 --> 0:00:43.620 founder of This Girl Talks Money. With an online community 0:00:43.620 --> 0:00:47.460 of over 50,000 people, Ellie provides knowledge, insights, and a 0:00:47.460 --> 0:00:50.520 safe space to help people gain confidence and ownership over 0:00:50.520 --> 0:00:54.540 their finances. Welcome to the show Ellie. 0:00:54.660 --> 0:00:55.650 Thank you for having me. 0:00:55.860 --> 0:00:59.160 I'm excited to talk about this, because for once, I 0:00:59.160 --> 0:01:01.560 actually am not the expert. I'm here to learn from you. 0:01:01.680 --> 0:01:02.520 Okay, I'll do my best. 0:01:02.550 --> 0:01:05.370 I'm super excited to talk about this. So we're talking 0:01:05.370 --> 0:01:07.230 all about love and weddings. 0:01:07.260 --> 0:01:07.680 Yes. 0:01:08.340 --> 0:01:10.950 To get things started, what advice would you have for 0:01:10.950 --> 0:01:14.010 couples at the beginning of their wedding planning journey to 0:01:14.010 --> 0:01:16.200 help them manage the costs of the big day? 0:01:16.890 --> 0:01:20.250 Well, I think to start off with, enjoy the moment. 0:01:20.250 --> 0:01:22.200 When you get engaged, it's so exciting and I think 0:01:22.200 --> 0:01:24.600 that we're talking about money today and that is a 0:01:24.600 --> 0:01:27.900 big aspect of it, but there's definitely a time for 0:01:27.900 --> 0:01:30.450 celebration and excitement before you get into the nitty- gritty. 0:01:31.230 --> 0:01:33.090 The first thing that I would always encourage people to 0:01:33.090 --> 0:01:37.200 do is to sit down together and write down your priorities. 0:01:37.770 --> 0:01:41.340 Individually, first of all, what your priorities are when you 0:01:41.340 --> 0:01:43.230 think about what you want your wedding to look like. 0:01:43.740 --> 0:01:47.130 And then compare notes and go through and see, are 0:01:47.130 --> 0:01:50.520 they aligned? If not, no problem, but you are going 0:01:50.520 --> 0:01:52.740 to keep coming back to this list of priorities. And 0:01:52.740 --> 0:01:55.320 if you don't do it, it's going to end up 0:01:55.320 --> 0:01:58.110 causing chaos when you go through the planning and particularly 0:01:58.110 --> 0:01:58.620 the budget. 0:01:58.980 --> 0:02:01.650 I think that's a really good point. Because for me what's 0:02:01.650 --> 0:02:05.250 really important is the dress and the food. Everything else 0:02:05.250 --> 0:02:07.170 we can cheap out on in my opinion, but the 0:02:07.170 --> 0:02:09.060 dress and the food is what ... especially the food. 0:02:09.330 --> 0:02:11.730 Absolutely. Because most of us are working to some sort 0:02:11.730 --> 0:02:14.790 of budget with a wedding. If you don't have an 0:02:14.790 --> 0:02:18.270 unlimited budget, you have to make choices and you want 0:02:18.270 --> 0:02:20.460 to make sure that you're making those choices in a 0:02:20.460 --> 0:02:23.609 way that aligns with getting you as close as possible 0:02:23.610 --> 0:02:25.560 to the day that you've envisaged and the day that 0:02:25.560 --> 0:02:28.500 you've dreamed. You need to have an order of priority 0:02:28.500 --> 0:02:30.300 to work through or you're just going to end up 0:02:30.300 --> 0:02:31.470 getting tied up in knots. 0:02:31.620 --> 0:02:33.810 I love that. I think it is so crucial. Off 0:02:33.810 --> 0:02:36.930 the back of budget then, what suggestions do you have 0:02:36.930 --> 0:02:39.840 around managing and allocating a wedding budget? 0:02:40.260 --> 0:02:42.990 I think first of all, you really need to get 0:02:42.990 --> 0:02:45.630 clear on what your budget is at the start, because 0:02:45.900 --> 0:02:48.630 the biggest trap you can fall into when you're getting 0:02:48.630 --> 0:02:52.320 married is looking at things you can't afford. Do not 0:02:52.320 --> 0:02:55.020 go near a dress that is outside your budget. Because 0:02:55.530 --> 0:02:56.880 I can tell you, you'll fall in love with that 0:02:56.880 --> 0:02:58.500 dress and every dress that's in your budget that you 0:02:58.500 --> 0:02:59.040 try on- 0:02:59.639 --> 0:03:00.091 You won't like anymore. 0:03:00.090 --> 0:03:03.209 You won't like anymore. So there is no point doing it. So get 0:03:03.210 --> 0:03:06.750 really clear on what your budget is before you start 0:03:06.990 --> 0:03:12.180 actually looking. But don't start actually going and viewing things, 0:03:12.180 --> 0:03:16.080 trying stuff on, ordering things, until you know what you're 0:03:16.080 --> 0:03:18.930 working with. And that involves having some of the conversations 0:03:18.930 --> 0:03:21.570 that you might need to have about budget. Because we're 0:03:21.570 --> 0:03:24.780 in 2024, things are a bit different in terms of 0:03:24.780 --> 0:03:28.680 how couples fund weddings. A lot of couples self- fund 0:03:28.680 --> 0:03:30.959 them. A lot of people do still get family help, 0:03:30.960 --> 0:03:33.840 but family help can mean both families. So have those 0:03:33.840 --> 0:03:38.250 conversations early on so there aren't any surprises, there aren't 0:03:38.250 --> 0:03:42.630 any misaligned expectations, and you can go into the actual 0:03:42.630 --> 0:03:46.050 planning process with your eyes open and with a clear 0:03:46.290 --> 0:03:48.360 idea of how much money you've got in that account 0:03:48.360 --> 0:03:48.930 to spend. 0:03:49.140 --> 0:03:53.190 Realistic expectations is such a big thing, because if people 0:03:53.190 --> 0:03:55.260 are going to contribute, because they've said ... sometimes you might have 0:03:55.260 --> 0:03:57.180 family members who say, " Oh yeah, don't worry, we'll help you 0:03:57.180 --> 0:03:59.610 out." Okay, but how much? 0:03:59.610 --> 0:03:59.611 What does that mean? 0:03:59.611 --> 0:04:03.450 How much is that helping out? Is that 500 pounds? Is that a couple of grand? What 0:04:03.450 --> 0:04:05.190 am I looking at so I can factor that into 0:04:05.190 --> 0:04:06.990 how much we actually have to spend on that wedding. 0:04:07.020 --> 0:04:11.040 Yeah, absolutely. Because the difference between 500 and 2, 000 when you're 0:04:11.040 --> 0:04:13.380 planning a wedding is a lot. So you need to know 0:04:13.380 --> 0:04:15.270 that because you don't want to fall into the trap 0:04:15.270 --> 0:04:17.880 where you make the 2, 000 pound decision and it 0:04:17.940 --> 0:04:19.680 turns out you're only getting 200 pounds. 0:04:20.130 --> 0:04:20.280 Oh my gosh. 0:04:20.280 --> 0:04:22.500 And then you've got to plug the gaps. And it 0:04:22.500 --> 0:04:26.490 happens so often and it can be avoided a lot 0:04:26.490 --> 0:04:28.770 of the time by having these conversations up front. 0:04:29.130 --> 0:04:30.690 I think a lot of people are just worried to 0:04:30.690 --> 0:04:33.000 talk about money and it's not easy. I don't think 0:04:33.000 --> 0:04:33.750 we're saying it's easy. 0:04:33.900 --> 0:04:33.900 No, it's not. 0:04:33.900 --> 0:04:35.880 But it is important if you want to stay within your 0:04:35.880 --> 0:04:39.990 budget it is very, very important. As we've said, paying for 0:04:39.990 --> 0:04:43.320 a wedding is a big expense, and when you couple 0:04:43.320 --> 0:04:46.080 that with our normal financial commitments, it can get quite 0:04:46.080 --> 0:04:49.529 pricey. So do you have any thoughts on how people 0:04:49.529 --> 0:04:51.479 can get that money together for the big day? 0:04:51.839 --> 0:04:56.670 Yeah, absolutely. We're talking about a cost of around 20, 000 pounds 0:04:56.670 --> 0:04:59.159 is the average at the moment in the UK. And 0:04:59.339 --> 0:05:01.049 obviously that's an average, so a lot of weddings are 0:05:01.050 --> 0:05:05.250 going way above that. The cost of living is high 0:05:05.250 --> 0:05:08.400 at the moment, so it's no surprise people are getting 0:05:08.400 --> 0:05:11.760 stressed and worried about how to afford a wedding. There are 0:05:11.790 --> 0:05:14.790 a few different things to think about. First of all, 0:05:15.240 --> 0:05:17.850 a longer engagement can help give you time. There is 0:05:17.850 --> 0:05:21.300 absolutely no need to rush a wedding. You can enjoy 0:05:21.300 --> 0:05:24.750 the engagement. Make the most of it. Add an extra 0:05:24.750 --> 0:05:27.870 year, in the long term that is not going to 0:05:27.900 --> 0:05:30.599 make a difference. It gives you that extra 12 months 0:05:30.600 --> 0:05:33.420 to save up. Thinking about the size of the wedding 0:05:33.600 --> 0:05:37.740 is also a really helpful way to try and manage 0:05:37.740 --> 0:05:41.490 costs. Again, I've had so many conversations with people about 0:05:41.490 --> 0:05:44.310 this. Where you start off with an idea of the 0:05:44.310 --> 0:05:47.339 size of the wedding and it just spirals and it 0:05:47.339 --> 0:05:50.670 can be really difficult, because I know parents typically get 0:05:50.670 --> 0:05:53.010 very excited when their children are getting married and invite 0:05:53.010 --> 0:05:56.070 everyone, and that's lovely. And I do think it's slightly 0:05:56.070 --> 0:05:59.099 different where you're getting contributions from family in terms of 0:05:59.670 --> 0:06:04.500 how much control and say they get over what happens 0:06:04.500 --> 0:06:09.420 with a wedding. But the biggest cost usually is the 0:06:09.480 --> 0:06:12.810 food and beverage cost per head. You're looking at somewhere 0:06:12.810 --> 0:06:18.180 around 90- 100 pounds per person. And given that most 0:06:18.180 --> 0:06:22.560 weddings you're looking at like 60, 80, 100 guests at least, that's 0:06:22.560 --> 0:06:24.900 where the bulk of that cost tends to come from 0:06:24.900 --> 0:06:27.570 if you're sitting down and having a three course meal 0:06:27.570 --> 0:06:29.970 with drinks and the champagne reception and all of that. 0:06:31.650 --> 0:06:35.010 Scaling down the size of the wedding can really help you to manage 0:06:35.370 --> 0:06:38.460 the costs. Obviously, if you can save as much as 0:06:38.460 --> 0:06:40.710 possible then that is brilliant. But I know that a 0:06:40.710 --> 0:06:42.659 lot of people will be in a situation when they're 0:06:42.660 --> 0:06:46.320 thinking about borrowing for a wedding. And the first thing 0:06:46.320 --> 0:06:48.450 to say there is to just think about how you're 0:06:48.450 --> 0:06:51.180 going to repay it. Please do try and think about 0:06:51.210 --> 0:06:54.930 a plan for repayment, but also factor in the overall 0:06:54.930 --> 0:06:57.330 cost of lending and try and work out whether the 0:06:57.330 --> 0:06:59.790 best option for you is going to be a loan 0:06:59.790 --> 0:07:01.680 or whether there is a credit card where you can 0:07:01.680 --> 0:07:04.320 get some 0% percent borrowing. It really is going to 0:07:04.320 --> 0:07:06.930 depend on each individual, but trying to reduce the cost of 0:07:06.990 --> 0:07:09.240 any borrowing that you do need for the wedding is 0:07:09.240 --> 0:07:11.550 going to help you overall when it comes to keeping 0:07:11.580 --> 0:07:15.120 within that budget. I also think it's really worth thinking 0:07:15.120 --> 0:07:17.880 about things like the dress. If it's going to take you 0:07:18.390 --> 0:07:20.489 a year or two to save up the amount for 0:07:20.490 --> 0:07:23.580 a brand new dress that you want, can you find 0:07:23.580 --> 0:07:27.420 that dress secondhand, pre- loved, and get it tailored to 0:07:27.420 --> 0:07:30.570 fit you for a fraction of the cost? There are 0:07:30.570 --> 0:07:33.660 so many ways that you can be creative now, because 0:07:33.750 --> 0:07:36.420 you want to enjoy this process of planning a wedding. 0:07:36.420 --> 0:07:38.580 It's meant to be a celebration. It's meant to be 0:07:38.580 --> 0:07:42.540 something you enjoy. So putting too much financial pressure on 0:07:42.870 --> 0:07:44.430 I think can take a bit of that joy away 0:07:44.430 --> 0:07:44.880 from it. 0:07:45.030 --> 0:07:47.880 I'm happy that you mentioned pre- loved and secondhand. I 0:07:47.880 --> 0:07:50.370 think it's a great way to reduce the cost and 0:07:50.400 --> 0:07:51.180 be sustainable. 0:07:51.480 --> 0:07:52.050 Exactly. 0:07:52.080 --> 0:07:54.420 And enjoy your big day because financial stress shouldn't come 0:07:54.420 --> 0:07:57.630 into it. However, I would be remiss to say that it 0:07:58.020 --> 0:08:01.020 is still a massive thing that a lot of couples 0:08:01.020 --> 0:08:04.620 do experience. So for any couples who are struggling with 0:08:04.680 --> 0:08:08.190 that financial pressure, what advice would you have for them 0:08:08.190 --> 0:08:10.770 when it comes to managing that, when they're planning for 0:08:10.770 --> 0:08:11.190 their wedding? 0:08:11.640 --> 0:08:14.730 Yeah. I think go back to that starting point that 0:08:14.730 --> 0:08:18.120 I mentioned about priorities and really sit down and drill 0:08:18.120 --> 0:08:21.090 into that. Because as much as you start off with 0:08:21.090 --> 0:08:23.310 these good intentions, and it can be really easy to 0:08:23.310 --> 0:08:28.230 lose perspective of A, what you set out to achieve 0:08:28.380 --> 0:08:31.080 and what's important to you, but also B, the constraints 0:08:31.080 --> 0:08:34.949 that you're working within. But what I really don't want 0:08:34.950 --> 0:08:37.410 people to end up doing is finding themselves just popping 0:08:37.410 --> 0:08:40.410 things on the credit card here, there, everywhere, and forgetting 0:08:40.410 --> 0:08:42.870 about it and then ending up racking up these really 0:08:42.870 --> 0:08:46.410 expensive charges because they're trying to achieve this picture perfect 0:08:46.410 --> 0:08:50.820 day when actually they could do it on a budget 0:08:50.880 --> 0:08:53.490 and they could stay within their initial constraints. Every time 0:08:53.490 --> 0:08:57.330 you're making a decision, go back to that priority list, 0:08:57.480 --> 0:09:00.750 go back to the budget. Where are you? Are things 0:09:00.750 --> 0:09:03.179 costing more than you expected? Are things costing less? Are 0:09:03.179 --> 0:09:06.569 there changes that you can make? If, for example, food 0:09:06.570 --> 0:09:10.620 is something that's really important to you, what are the creative ways 0:09:10.620 --> 0:09:12.300 that you can make sure that you're getting the high 0:09:12.300 --> 0:09:16.950 quality, but without necessarily paying for the three course silver 0:09:16.950 --> 0:09:21.000 service experience? Because there are options for that. Good food 0:09:21.000 --> 0:09:24.959 doesn't have to be expensive. Again, venues are another one. 0:09:25.559 --> 0:09:27.390 I know a lot of people have the idea in 0:09:27.390 --> 0:09:29.490 their head of the type of venue that they want 0:09:29.490 --> 0:09:34.439 for their wedding, but actually can you create the atmosphere and 0:09:34.500 --> 0:09:37.350 the vibe that you want for your day at a 0:09:37.350 --> 0:09:39.480 venue that's not going to cost you an arm and 0:09:39.480 --> 0:09:42.690 a leg? And there are also ways to reduce the 0:09:42.690 --> 0:09:46.470 cost of a venue. Looking at different seasons is a big 0:09:46.470 --> 0:09:48.720 one. Looking at different days of the week. 0:09:48.720 --> 0:09:51.150 We have social media, you see what other people have 0:09:51.150 --> 0:09:52.650 done and you might think, right, I've got to do what 0:09:52.679 --> 0:09:54.090 this person did, or I've got to try and do 0:09:54.090 --> 0:09:56.460 better than what they did, but it is your day, 0:09:56.760 --> 0:09:59.130 so it should be tailored to you and whatever you 0:09:59.130 --> 0:10:02.309 can afford. But whatever you want, most importantly. What are 0:10:02.309 --> 0:10:06.809 some other creative ways that couples can implement to reduce 0:10:07.260 --> 0:10:09.210 the prices that they have to pay for their big day? 0:10:09.780 --> 0:10:12.689 I think a really good one is thinking about ways 0:10:12.690 --> 0:10:14.700 that you can do a bit of DIY. Even if 0:10:14.700 --> 0:10:18.000 you're not doing a full scale DIY wedding, there are 0:10:18.059 --> 0:10:21.480 elements throughout the day where you can actually get stuck 0:10:21.480 --> 0:10:25.260 in or you can get your bridesmaids, get the groomsmen, 0:10:25.260 --> 0:10:29.339 get your mother, friends, family to get involved. One thing 0:10:29.340 --> 0:10:32.400 that I did for my wedding is we bought a 0:10:32.400 --> 0:10:37.170 lot of flowers wholesale, and the night before my mum 0:10:37.170 --> 0:10:42.179 and bridesmaids basically created the table decorations, because I knew 0:10:42.300 --> 0:10:45.120 it was an area for me where I didn't want 0:10:45.120 --> 0:10:47.640 to spend a lot of money. There were other areas 0:10:47.640 --> 0:10:49.949 where I was like, " That's my priority." So it ended 0:10:49.950 --> 0:10:51.929 up costing a couple of hundred pounds to do all 0:10:51.929 --> 0:10:55.470 the table decorations. Where if you pay for table decorations, 0:10:55.650 --> 0:10:58.559 you're looking at thousands of pounds. Things other people have 0:10:58.559 --> 0:11:02.069 done are things like dessert tables where you can bake 0:11:02.070 --> 0:11:04.860 a load of brownies and have a table. Or things 0:11:04.860 --> 0:11:07.829 like a donut wall. You can have one of those really 0:11:07.830 --> 0:11:10.140 cool boards where you order loads of donuts and you 0:11:10.140 --> 0:11:11.910 stick them on and people can go up and take 0:11:11.910 --> 0:11:14.820 their own. And yes, it probably costs you a couple 0:11:14.820 --> 0:11:17.640 of hundred pounds, but compared to adding an extra course 0:11:17.640 --> 0:11:20.880 to a sit down dinner, then you're going to save 0:11:20.880 --> 0:11:24.360 money. Thinking a little bit outside the box. And a lot of these things 0:11:24.360 --> 0:11:27.719 actually you can make look really cute and quirky as well. 0:11:27.720 --> 0:11:30.630 My friend, she had a DJ, so instead of, I 0:11:30.630 --> 0:11:33.330 know people have bands, but a DJ does help to 0:11:33.690 --> 0:11:34.500 bring down that cost? 0:11:34.530 --> 0:11:37.380 Yeah. And also just don't feel the pressure, like you 0:11:37.380 --> 0:11:40.679 said, to do all the things that you see online. 0:11:41.340 --> 0:11:43.440 One thing that I have noticed a lot of people 0:11:43.440 --> 0:11:46.380 have stopped doing, thankfully, and I didn't do it either, 0:11:46.530 --> 0:11:50.340 are wedding favors. The reality is, no one notices if 0:11:50.340 --> 0:11:52.349 you've got them or not. And I also think a 0:11:52.350 --> 0:11:55.679 great tip actually is think about your wedding from the 0:11:55.679 --> 0:11:59.550 perspective of a guest. So think about when you're a 0:11:59.550 --> 0:12:02.130 guest at other weddings, what do you notice and what 0:12:02.130 --> 0:12:04.920 don't you notice? And then apply that to your own 0:12:04.920 --> 0:12:07.020 wedding as well. And of course there'll be some things 0:12:07.020 --> 0:12:08.490 that you just want to do because they matter to 0:12:08.490 --> 0:12:11.580 you. But another example of this is, is we had the 0:12:11.580 --> 0:12:16.590 option for the drinks reception of upgrading to a English 0:12:16.590 --> 0:12:20.309 sparkling wine rather than a Prosecco. And when we were 0:12:20.309 --> 0:12:22.380 told this, we were like, " Oh, well that would be 0:12:22.380 --> 0:12:26.670 really nice because it's an English countryside Cotswold wedding. There's 0:12:26.670 --> 0:12:29.040 something really nice about this English wine." And then we 0:12:29.040 --> 0:12:31.980 stopped for a second and we thought, have you ever thought, " 0:12:32.100 --> 0:12:33.599 What am I drinking at a wedding?" 0:12:33.599 --> 0:12:33.929 It's true. 0:12:35.010 --> 0:12:36.870 I have no idea what I've ever drunk at a 0:12:36.870 --> 0:12:39.449 wedding. I drink what I'm given. And so we thought, " 0:12:39.450 --> 0:12:42.750 Okay, we can save ourselves 15 pounds per bottle by 0:12:42.750 --> 0:12:43.650 not doing that." 0:12:43.710 --> 0:12:44.370 Wow. 0:12:44.429 --> 0:12:46.439 And these are the kind of costs that we're talking 0:12:46.440 --> 0:12:48.870 about. 15 pounds a bottle, that's like a lot of 0:12:48.960 --> 0:12:51.030 bottles, a lot of money. 0:12:51.031 --> 0:12:51.750 Yeah, it's a lot of money you would've spent. 0:12:51.809 --> 0:12:52.140 Yeah. 0:12:52.170 --> 0:12:55.170 That's a really good outlook and I think what is important 0:12:55.170 --> 0:12:59.819 to focus on. I've seen many horror stories online of 0:12:59.970 --> 0:13:04.110 people booking services, booking professionals, and the day comes and 0:13:04.110 --> 0:13:06.720 they back out last minute, maybe a week before, maybe 0:13:06.720 --> 0:13:08.579 even a day before, maybe even on the day. I've 0:13:08.580 --> 0:13:12.000 heard some horrific things. So I know that there are things 0:13:12.000 --> 0:13:14.010 that you can do to protect yourself. One thing being 0:13:14.010 --> 0:13:17.069 potentially wedding insurance. So could you talk to us about 0:13:17.070 --> 0:13:20.429 wedding insurance and whether or not this is important to have? 0:13:21.090 --> 0:13:23.850 Yeah, so I think it really depends whether it's worth 0:13:23.850 --> 0:13:26.610 it based on A, the size of your wedding and 0:13:26.610 --> 0:13:30.030 the cost of the wedding, but also the different policies of 0:13:30.030 --> 0:13:32.280 the providers and the suppliers. And that's going to be 0:13:32.280 --> 0:13:37.230 so individual based on your wedding. There are certain venues 0:13:37.230 --> 0:13:40.589 that will insist that you have insurance before you go 0:13:40.800 --> 0:13:44.070 and actually book. In some cases you are going to 0:13:44.070 --> 0:13:46.110 have to get a policy in the first place. But 0:13:46.530 --> 0:13:50.190 I also think it's worth having those conversations with your 0:13:50.190 --> 0:13:52.979 suppliers, like your photographers, for example, or your band or 0:13:52.980 --> 0:13:56.280 your DJ, just to see how they tend to operate. 0:13:56.340 --> 0:13:58.589 And like you say, sometimes people back out at the 0:13:58.590 --> 0:14:02.189 last minute. I think it really comes down to checking 0:14:02.250 --> 0:14:04.950 what the Ts and Cs are before you're signing up, 0:14:05.100 --> 0:14:08.700 committing money to different suppliers. And also just looking at 0:14:08.700 --> 0:14:11.790 the overall cost and working out what would happen if 0:14:11.970 --> 0:14:15.929 something happened. If you don't have insurance, what's your plan 0:14:15.990 --> 0:14:18.179 of action? What's your backup? And also if you do 0:14:18.179 --> 0:14:21.420 have insurance, is it actually going to cover the eventualities 0:14:21.420 --> 0:14:22.650 that you would like it to cover? 0:14:22.680 --> 0:14:25.590 I know we are naturally programmed to scroll to the 0:14:25.590 --> 0:14:29.490 bottom of the Ts and Cs and just sign or just click okay. But especially 0:14:29.490 --> 0:14:31.860 when it comes to wedding, there's a massive expense. I 0:14:31.860 --> 0:14:33.780 think anything that's going to cost you a whole chunk 0:14:33.780 --> 0:14:35.461 of money that you don't really want to lose, you should be looking at- 0:14:35.461 --> 0:14:35.462 Read it properly. 0:14:35.462 --> 0:14:40.560 What are you in for? What are you liable for? What are they liable for? So you 0:14:40.560 --> 0:14:43.590 can make sure that you are going in with your eyes wide open. 0:14:43.620 --> 0:14:44.250 Absolutely. 0:14:44.310 --> 0:14:47.880 That's the key thing. Ellie, you have shared some incredible 0:14:47.880 --> 0:14:49.859 gems and I have learned way more than I thought 0:14:49.860 --> 0:14:51.930 I would about weddings, so I feel like I'm ready. 0:14:52.080 --> 0:14:55.170 I'm ready for my big day. Thank you. But before 0:14:55.170 --> 0:14:57.810 we round off, what are your top three tips for 0:14:57.810 --> 0:14:59.220 managing the cost of a wedding? 0:15:00.090 --> 0:15:05.010 Number one, communicate. Communicate, most of all with your partner, 0:15:05.340 --> 0:15:08.070 but also with the other people in your family, other 0:15:08.070 --> 0:15:10.470 people that might be involved. Make sure that you are 0:15:10.470 --> 0:15:14.160 having regular conversations so that you are staying on track 0:15:14.160 --> 0:15:17.220 when it comes to the budget. Make sure that everyone 0:15:17.220 --> 0:15:20.520 is working from the same page. Ultimately, a wedding is a 0:15:20.520 --> 0:15:23.640 big project that you're all a big team working towards 0:15:23.640 --> 0:15:28.260 executing, so you are ultimately the project manager. So get 0:15:28.260 --> 0:15:32.040 on the same page and schedule those regular check- ins, 0:15:32.250 --> 0:15:36.780 otherwise it will go off plan. Number two, don't just 0:15:36.780 --> 0:15:40.500 think about yourself. And I know that sounds strange because 0:15:40.500 --> 0:15:44.160 it's your big day, but think about what is most 0:15:44.160 --> 0:15:46.710 important to you when you're planning this wedding. Is it 0:15:46.860 --> 0:15:50.280 having all the people that you want to be there, 0:15:50.640 --> 0:15:54.030 or is it having the day in the way that 0:15:54.030 --> 0:15:57.660 you have pictured it, because they're not always compatible. And 0:15:57.660 --> 0:16:00.630 I say that meaning, that a lot of the time 0:16:00.780 --> 0:16:03.750 what ends up happening is that a bride and groom 0:16:03.750 --> 0:16:06.990 make decisions about a wedding that basically pushes a lot 0:16:06.990 --> 0:16:10.500 of costs onto the guests. They will decide they want 0:16:10.500 --> 0:16:14.910 a certain venue or a certain destination, and the consequence 0:16:14.910 --> 0:16:16.980 is that the guests end up having to take off 0:16:17.160 --> 0:16:20.970 a week from work, pay for expensive flights, pay for 0:16:20.970 --> 0:16:24.660 expensive accommodation. And what can end up happening is, A, 0:16:24.660 --> 0:16:28.800 people can feel resentful. People can feel pressured. But then 0:16:28.800 --> 0:16:31.890 also I think sometimes people won't be able to go. 0:16:32.310 --> 0:16:35.100 Asking yourself, what is most important to me? Is it 0:16:35.100 --> 0:16:38.550 about people being there and spending that day with the 0:16:38.550 --> 0:16:41.430 people that you love the most? Or is it doing 0:16:41.430 --> 0:16:43.230 things in the way that you wanted even if it 0:16:43.230 --> 0:16:46.050 means some of those people can't make it. And three, 0:16:46.290 --> 0:16:50.250 don't forget about stag and hen- dos. They can really, 0:16:50.310 --> 0:16:52.890 really get out of control when it comes to cost. 0:16:53.130 --> 0:16:55.800 Have a think about how to try to manage a 0:16:55.800 --> 0:16:57.600 budget for your stag and hen- do. 0:16:57.960 --> 0:17:00.480 Those are some good tips, especially about the stag and 0:17:00.480 --> 0:17:02.970 hen, I've never really considered that, but it is a 0:17:02.970 --> 0:17:04.919 part of the budget that you need to factor in. 0:17:05.340 --> 0:17:06.090 Oh yeah. 0:17:06.270 --> 0:17:09.450 Ellie, you have opened up our eyes and our wallets 0:17:09.510 --> 0:17:11.459 to what we should be focusing on when it comes 0:17:11.460 --> 0:17:14.100 to wedding budgets and planning for that big day. So 0:17:14.100 --> 0:17:15.899 thank you so much for coming onto the podcast. 0:17:15.990 --> 0:17:16.890 Thank you for having me. 0:17:18.600 --> 0:17:21.270 So much to consider on tying the knot. Thanks for 0:17:21.270 --> 0:17:24.869 breaking it all down, Ellie. Next time, financial wellbeing expert, 0:17:24.869 --> 0:17:26.939 Clare Seal will be here to help us feel good 0:17:26.970 --> 0:17:28.950 about our money. I'd love it if you could review 0:17:28.950 --> 0:17:32.040 the podcast, spread the word, and help others get a little 0:17:32.040 --> 0:17:35.130 bit richer too. Keep up with the show on TikTok and Instagram at 0:17:35.130 --> 0:17:37.770 Legal and General. Thank you for listening. See you soon.