Debt help

“Shackled by Wedding Debt”

With the cost of weddings continuously increasing, it’s no wonder so many couples have to take out credit to be able to fund their upcoming nuptials, the big question is should “something borrowed” really be loans and or debt on cards?

It is understandable that you would want to have a perfect day but it could come with a very big price tag that you could regret for years and which could blight the start to your wedded life.

Wedding statistics quoted by confetti.co.uk for April 17 show that over half of weddings now feature homemade invitations and favours, yet the average wedding in the UK is still costing £15,000!

The pressure to spend money on your wedding is increasing, there is so much to think about from the invites, the venue, the stag and hen do’s, the food, the clothing, music and photographer. It’s not difficult to seriously exceed your budget with the excess going on credit cards.

Sensible Advice

Budget

Set a sensible limit based on a realistic plan which details how you are going to raise the money. This may not sound very romantic, but remember your wedding day is about the vows to your future husband/wife not the after do for friends and family!

Be creative

Try making your decorations, favours and invitations – all this will help cut the costs. The internet is full of wedding blogs and websites that can help you to achieve your dream wedding for a bit less – a great place to find creative ideas is Pintrest. The last few years have seen many wedding shops go out of business. There are businesses that buy the stock and will then carry out bespoke amendments and create a spectacular dress at a fraction of the cost charge by the exclusive wedding dress outfits. See Wedding dresses of Manchester.

Venue

Shop around to find venues that have reasonably priced packages which include food and drinks. Using separate suppliers for food, drink, decorations can result in significant increases in costs.

 Keep control of numbers

According to Confetti.co.uk more than 55% of weddings cater for between 50 and 100 guests. Guests come with a price tag. Try to keep you daytime guests to close  family and close friends as this could accounts for a major part of your spend.

Avoid Weekends and start early in the day

Getting married early may mean you are paying for lunch plus food later in the day as well. A later ceremony means one meal and you can always put on easy food like bacon sandwiches at the end of the night for the left over guests which is a much cheaper option.

Saturday is still the most popular day to get married followed by Friday (with Monday the least popular), however some venues will offer special discounted prices for weekdays.

Sensible Wedding Gifts

It is becoming more and more common and acceptable now for couples to ask for money as a wedding gift, this can help towards the cost of a wedding or even the cost of setting up your new marital home.  If you don’t feel comfortable asking for cash, you could instead ask for gift vouchers.

If you are planning on taking a honeymoon after your wedding, some travel agents offer ‘Honeymoon Gift Lists’ where you can select excursions and activities such as spa treatments, dinner on the beach etc and your guests can log into you dedicated account and pick the activity they would like to buy for you. Guests can also just add money to the fund which could help you pay for the honeymoon!

Stuck with problem debt

If you find yourself struggling with debts following your wedding and the payments are causing you sleepless nights, it could be time to seek help, get in touch with us today.

There a range of solutions depending on whether you are salaried or self employed or you are a director or shareholder of a limited company.  Should you enter into a debt solution with us, fees will apply. If you would like our team to call you, please use our contact form.

All debt solutions need to be carefully considered. IVA’s are formal solutions and failure to keep to the terms can result in your IVA failing and you could end up bankrupt.

There is also free debt help and advice available through a variety of debt charities. For more information, we recommend you visit www.moneyadviceservice.org.uk.

The Debt Advisor is Authorised and regulated by The Financial Conduct Authority (reg no: 659920)

“Shackled by Wedding Debt”
“Shackled by Wedding Debt”

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