Friday, April 29, 2011
Category:
Consolidation
With the Royal Wedding fast approaching, Family Investments has pointed out that parents who are currently dreaming of their own child’s wedding day may be considering how they would meet the expense of the big day when the time comes.
Analysis from Family Investments has revealed that parents would need to set aside £50 per month for 18 years in order to cover the cost of the average wedding, which stands at £18,000. Alternatively, parents who would like to make a £10,000 contribution towards their child’s wedding day would reportedly need to set aside £30 per month. In contrast, parents who would like to ‘push the boat out’ by giving their child £25,000 towards their big day would need to set aside £70 per month.
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Homeowners who have recently tied the knot without financial assistance from their parents could consider taking out a secured loan to consolidate any expensive debts that may have been accumulated along the way. One of many finance options available, a secured loan for consolidation could allow borrowers to tie up any existing credit cards or store cards for example. Borrowers could consequently see a reduction in their total monthly outgoings. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
