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It’s not exactly news that weddings are expensive things to organise – but still, it’s good to put a few hard figures on the cost to give some all-important perspective. According to research by the Hitched website, the average wedding in the UK cost £18,400 in 2022, which was 6% up on the figure for 2021, and more than double the amount spent during the COVID-affected 2020. 

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So, you can see that after a period when many people weren’t exactly spending a huge amount on their weddings, those costs have crept up again. This is to be expected, during a time of rampant inflation combined with couples wishing to hold in-person nuptials again. 

If, then, you are set to tie the knot, we can well understand you carefully poring over all the costs, and considering how you can both save and add a bit more to your wedding budget. 

With that in mind, you may have heard that a lot of couples have taken out wedding loans in recent years to help pay every penny incurred by their big day. But might using such a loan be the right option for you and your sweetheart, or could there be better alternatives? 

In certain situations, a loan might be an option to consider for added wedding expenses.

In certain situations a loan might be an option to consider for added wedding expenses


As the information we set out above makes clear, the typical wedding cost in the UK these days is hovering around tens of thousands of pounds.

Naturally, every couple’s exact situation is different. At CashCompare, we offer short-term loans that typically range from £100 to £5,000. Such loans might be considered by those who find a small shortfall in their wedding budget.

And in what specific circumstances might you require that slight budgetary boost? Well, it may be that you have your hearts set on getting married on a particular date, and therefore want to be able to access extra funding for your wedding sooner, instead of waiting until you have saved up more money. 

Or maybe a loved one of yours was previously going to fund certain parts of your wedding, but has suddenly found themselves in a situation where they are unable to do so, thereby leaving an unplanned-for gap in your budget? 

The above are just some examples of circumstances in which couples think about – and take out – wedding loans. If you have a favorable credit rating, you might access certain interest rates, but it's essential to be comfortable with the repayment terms.

But wedding loans may not be the right solution for everyone 


But wedding loans may not be the right solution for everyone


The reality is, it is important to consider your specific circumstances extremely carefully before committing to any kind of loan, and the situation is no different when it comes to wedding loans. 

After all, taking out a loan to fund your wedding means you will be starting your married life with a debt. If your circumstances are such that you are confident of paying that money back, or if you only borrow a relatively small amount, this might not seem like a big issue. 

However, it could be a reason to consider whether there are better alternatives – such as cutting back on certain things you were initially intending to spend on your wedding, to help make possible the things you really want from your wedding. 

Do you really need to have a DJ or band when you could have a Spotify playlist instead, and do you really need to have a guestlist quite that long, consisting of some distant relatives you might barely know? And of course, there’s often a lot of scope for haggling or attractive discounts on the prices for key wedding services such as the venue, dress, and photographer. 

Essentially, all the usual truths about the importance of responsible borrowing also apply to wedding loans, including the importance of not borrowing an amount that you might struggle to repay. It’s also crucial to consider the amount of pressure that an outstanding loan could put on your relationship, and what would happen with the debt in the event of the relationship breaking down. 

Remember that a failure to repay what you owe could damage your credit rating, thereby harming your chances of being able to borrow money for anything else in the future. So, the impacts could be felt for a very long time after your wedding day, and perhaps even after the marriage itself. 

Could a short-term loan obtained via CashCompare be the answer? 


Could a short-term loan obtained via CashCompare be the answer


Naturally, no couple planning their wedding is in exactly the same situation as another, so there’s no “one size fits all” answer to this question. You really will need to think carefully about your own priorities and circumstances, and whether you will be able to pay back any loan to which you commit.

Don’t forget that here at CashCompare, it’s a two-minute process to complete our online form and ask for a no-obligation quote. This might further assist you in your decision-making in relation to wedding loans, and their usefulness (or otherwise) for funding the most important day of your life.

Warning: Late repayment can cause you serious money problems. For help, go to We are a credit broker and not a direct lender.

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