The average cost of getting married, buying a house and having children has risen to almost £395,000, according to financial mutual, OneFamily.
This has increased by £35,000 in just two years, up from £360,000 in 2022.
As part of the research by OneFamily, which surveyed 2,000 adults between the ages of 18 and 40, people were asked about their top three life goals.
More than half (54%) said their priority was living comfortably, even in the midst of a cost-of-living crisis.
The second highest priority was to go on holiday or travel (36%).
Less than a third (28%) prioritised buying a house, with the same proportion hoping to have savings when they retire.
With rising costs forcing people to make tough choices, getting married or having a wedding fell towards the bottom of the list of priorities, with just one in 10 (12%) stating this is in their top three goals.
However, when asked if they would like to have a wedding, three in four (75%) non-married people said they would.
Of those who were not married, two in five (38%) who would like a wedding were concerned about how they will be able to afford it, as the average adult under 40 expected a wedding to cost around £16,000.
Jackie Davies, customer operations director at OneFamily, said, “Given the recent cost-of-living crisis, it’s hardly surprising it’s becoming more difficult for people to afford buying a home as well as their dream wedding.
“It’s tough for young adults in the UK, as they juggle paying rent, bills and saving for a deposit.
“Social mobility is something we really believe in at OneFamily, as everyone should have access to equal opportunities, regardless of their background.
“Lifetime ISAs can really help people wanting to save for their first home, as the free bonus can give them that extra boost.”
