Debt fear for wedding couples

More and more couples are entering married life together saddled with thousands of pounds of debt, according to a new survey.

The research from Tesco shows that more than half (52 per cent) of couples choose to pay for the event themselves, which could lead to them seeking debt solutions if they cannot pay off the average £4,700 spend.

By comparison, just over a quarter (27 per cent) of brides’ fathers pay for their daughter’s big day, as tradition has typically dictated.

However, which party is more likely to get into debt to pay for a wedding seems to depend on where in the country you live.

In Norwich, nearly two thirds (64 per cent) of couples fund the event themselves, whilst six out of ten (61 per cent) parents in Cardiff may need to find debt solutions after paying for their children’s big day.

Kevin Still, director of Atlantic Financial Management, says: "The average cost of a traditional wedding in the UK is about £11,000, so overrunning can be very expensive and mean starting married life with an unplanned debt problem.

"This may be one of the reasons that wedding levels are at an all-time low. There is a temptation to put costs on plastic and build up credit card debt for the future or encumber the bank of 'Mum and Dad' with more debts."

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