Weddings & Debt, do they go hand in hand?

William and Kate’s big day is quickly approaching as the happy couple prepare to take the long walk down Westminster Abbey’s aisle and share their happiness with the world in what will no doubt be the wedding of the year.

Weddings are a day for two people to celebrate their love for each other with their family and friends. But for many, weddings also mean debt.

It is estimated that the average wedding in the UK costs £21,000 and the average couple will underestimate the cost of their wedding by £11,000.

And it is not only the happy couple who rack up thousands of pounds in costs for the big day, over recent years I have seen many parents come to us for help after they got credit to help fund their son’s or daughter’s wedding.

And then there are the wedding guests; the average guest will spend around £294 for the day and the preparation, ranging from the gift to the outfit to the hen or stag party.

Weddings are a very costly day and there are no ways to hide from the costs, but it doesn’t have to get you into debt. Here are my top tips to try and avoid getting in to debt:

Make a budget plan for what you can afford and what you want for your wedding and stick to it!
Only invite family and friends that you want at your big day. Remember it is your day after all and you should spend it with the people who care about you. You don’t need to invite the best friend you had when you were 10 or the second cousin that you have never met.
Just because William and Kate are having a big lavish wedding, it doesn’t mean you need to. Your day can be just as special in a smaller, more intimate venue.

If you are still unsure about anything call one of our specialists who will always be happy to help
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Written by davemac on April 21st, 2011

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