It's meant to be the happiest day of your life... but research shows your wedding day is likely to hurt your pocket too.

Research by online wedding site Wedded Wonderland found Australians are spending an average of AUD $48,625 on their big day.

In an age of social media, it appears people are looking for lavish events, with Pinterest and Instagram allowing couples to browse endlessly for inspiration.

Venues continue to be the most expensive part of the wedding, with median prices sitting at AUD $15,000

The hiring of a venue was found to make up the bulk of the hefty price tag - with couples forking out an average of AUD $15,000 for a place to celebrate in.

A engagement ring with bling was found to be the second most costly item - with Australians spending AUD $10,000 on average on the right sparkler.

The popularity of a bride-to-be sharing pictures of their ring online could possibly be fueling a rise in fiances opting for ever more unique and expensive options.

Clothing also made up a large portion of wedding day expenses - with brides spending an average of AUD $4,000 on their dress, the research showed.

Meanwhile, grooms spend an average of AUD $1,600 on their get-up for the big day - with AUD $1,000 spent on suits for the groomsmen and a relatively demure AUD $850 for bridesmaids.

And while thirty years ago, Australian weddings were more simple affairs, now ceremonies and receptions are becoming bigger and more flamboyant.

The price of a honeymoon takes up a large chunk of the wedding budget

Social media is putting pressure on those who plan on proposing to splash out on unique rings

What does the average wedding cost? Venue - $15,000 Groom Suit - $1,600 Engagement Ring - $10,000 Entertainment - $1,400 Honeymoon - $7,000 Groomsmen Suits - $1,000 Flowers/Styling - $6,000 Bridesmaid Dresses - $850 Wedding Bands - $4,500 Cakes/Desserts - $800 Wedding Dress - $4,000 Hair - $540 Videographer - $2,500 Make up - $500 Photographer - $2,400 Transport - $400 Advertisement

There is an emphasis on originality and a wedding being an extension of your own personality but all of these things cost money.

According to the website's research, brides are spending AUD $6,000 on flowers and styling, which includes personal flowers, centerpieces and other decorations.

Adding to the exorbitant price is the expectation of a honeymoon post wedding, which the research found sets the average couple back around AUD $7,000 mark.

Eight per cent of Australians are choosing destination weddings with some of the most popular honeymoon destinations being Hawaii, Bali and Greece.

It appears newlyweds want a holiday to remember and are willing to pay a little more for that privilege, so many choose add-ons that bump up the cost such as extra privacy, champagne on arrival, and a late checkout.

And if the cost hasn't put you off tying the knot altogether, you might be interested to learn that the research also revealed that November is the most popular month to get married.