And finally…huge number of Scots regret blowing money on wedding day - instead of saving for long-term investments

With just over a quarter (26 per cent) admitting to spending too much money on recent special events, it seems many have been left to regret their poor financial decision making especially when it comes to tying the knot.

In the UK, Scots topped the poll with 17 per cent going over their wedding budget in comparison to just 3 per cent in South East England. However, 15 per cent admitted that they would have liked to have spent more but couldn’t afford it at the time due to a lack of budgeting.

If given the choice, nearly half (43 per cent) would ‘do their wedding day again, but better’ with 26 per cent saving more money to spend on their wedding, 21 per cent spending less or having a smaller guest list to avoid going over budget, and 18 per cent choosing to elope abroad in the hope of keeping costs down.

And what would they have spent the cash on instead? Property and long term investments come out on top.

Top four things Scots wished they had saved money for:

The research also found that 4 in 10 Brits are left disappointed with their wedding, despite the average couple spending £25,000 on their big day.

Over a third (36 per cent) wish they had budgeted more effectively for their wedding, with 27 per cent admitting they hadn’t saved enough when the big day arrived. 1 in 5 (20 per cent) of Brits admitted they wished they had kept hold of their money for their retirement years, with 1 in 10 revealing they wished they had spent less money on extravagant holidays and fashion items.

Clare Francis, savings and investments director at Barclays, said: “While it may be tempting to break the bank for a milestone moment, there is significant risk in spending everything on an event which does not always live up to expectations, as our research shows. Make sure that you plan well in advance for key life events, and be realistic about what you can afford.

“Those saving for their first home could consider a Help to Buy ISA, which offers a 25 per cent government bonus on amounts saved between £1,600 and £12,000, and there are also innovative mortgage products which can help make the purchase more affordable. For longer-term savings goals, such as retirement, an investment ISA (also known as a stocks and shares ISA) could be a good choice, as returns from equities tend to outperform cash over the long term.

“Whatever milestone you’re saving for, you need to stay in control of your money to avoid compromising your quality of life, not to mention the lives of your loved ones. In some situations, failing to budget properly can lead to long-term financial debt, which some people never recover from.”