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Brits go into the red for weddings
23 May 2008
British couples are plunging further and further into the red in order to fund their weddings, new research reveals.
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In the name of love, one in ten people polled in a survey by Fool.co.uk said they would take out a personal loan to pay for the big day or pay for it on a credit card.
A further three per cent of respondents would remortgage their home to pay for the expensive dress, venue hire, flowers, decorations and food that make up a lavish do.
Research by Fool.co.uk reveals that the average wedding costs £4,968, but some couples spend as much as £30,000 and beyond.
One in 12 survey respondents said they would spend between £15,000 and £20,000 on their wedding.
Men are still expected to fork out the most for the nuptials, regardless of whether they have much say in the wedding itself.
Donna Werbner, financial expert at Fool.co.uk, said: "If you stick all the costs of your wedding on a credit card, you could find your big day is memorable for all the wrong reasons - because you end up paying for it for the rest of your life.
"There's no doubt weddings are becoming more expensive, but people seem to lose all sense of proportion when it comes to budgeting.
"Money may not buy you love, but love sure can cost you a lot of money."
Look for love by dating online today.
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