Monthly Wrap: Getting Married Abroad: The Real Cost
Philip McHugh November 24th 2021 - 3 minute read
By Currencies Direct on November 24, 2021
Whilst the sanctity of marriage is a beautiful ceremony as you declare your love to the world, getting married abroad will certainly make your special day more unique.
‘Abroad’ can literally be anywhere and thus offers a wide spectrum of spectacular services, from an underwater ceremony in Thailand to a medieval castle in Cyprus, creating a more personal wedding than the typical UK ceremony.
Your wedding day should be as unique as you so let your imagination run wild for the perfect, unforgettable day!
Getting Married Abroad may be Cheaper than the Usual UK Wedding
Weddings in the UK often follow the same tropes: a church ceremony followed by a reception, good food and speeches. This routine marriage can cost, on average, £30,000 and will have you combatting the unpredictable British weather.
Abroad, however, offers a diverse range of weddings which can fit to your needs, wishes and personality. In addition, on average, the cost of a wedding abroad is around £14,000 (depending on where you go) which is a considerable saving in comparison.
The idea of marrying abroad may be daunting but it can also be magical! Don’t be put off marrying abroad just because it seems too risky. With the help of Currencies Direct, all your dreams can become a reality…
How can Currencies Direct help?
There are a number of options available that will make the currency exchange much simpler.
For time-sensitive issues a spot contract will allow you to make an immediate transfer. All you need to do is settle on the exchange rate; as soon as Currencies Direct receives your money, it will be sent across instantly.
This is ideal for situations where you only have a small window to make a payment, such as putting down a deposit to secure your perfect venue or caterer.
It usually takes a while to plan a wedding; planning should be carefully considered and certainly not rushed because it’s your special day – after all, you want it to be perfect! This is where a forward contract comes into play…
After using the spot contract to pay the deposits and other immediate costs towards your wedding, a forward contract allows you to pay the remaining amount with a fixed exchange rate for up to 1 year.
All you have to do is pay a small deposit then the current rate will be fixed for a twelve month period, protecting you from market volatility.
Another option available to you is to use a limit order to pay for the rest of your wedding. A limit order allows you the flexibility to pay the remaining amount when the exchange rate is at your preferred amount.
Just let us know us your ideal exchange rate and the currency will be transferred automatically when the specific rate is met.
This is particularly useful when the currency doesn’t need to be transferred straight away and will save you money by waiting for the exchange rate to reach your chosen value.
Hidden Costs Attached to Weddings Abroad
The wedding day itself is only one piece of the jigsaw that you need to calculate for when tying the knot abroad.
5 often-overlooked costs that surround an overseas marriage:
When you have chosen your destination, you should be flexible with your specific date in the beginning. This will allow you to research the prices of flights and accommodation, and avoid peak times. Researching around the area will also enable you to avoid its busiest time of year so that you aren’t battling floods of tourists or accidently there in the middle of a local event.
The wedding itself may be paid for, but how long are you and your guests planning on staying either side of the special day? If you want to stay longer after the ceremony to soak up the newly-wed feels, this needs to be taken into consideration.
- Travel insurance.
It may seem like an unnecessary expenditure at the time but you’ll be glad to have it if flights are delayed or if your baggage is lost.
The UK’s taxes are considerably higher than many countries but they will differ from place to place. Make sure you know what the tax implications are before committing to a specific place.
- Baggage allowance.
A huge part of a wedding is the outfit you’ll be wearing – the dress, suits, bridesmaid dresses, etc. Plus, you’ll need everyday clothes and evening wear to last the entire trip. Before leaving for your special day, you’ll want to check how much you’re allowed to take and purchase additional baggage allowance if needed. You certainly don’t want to get to the airport to realise you don’t have enough allowance for everything packed!