Wednesday, June 24, 2009
Category:
Consolidation
Recent research by Halifax Current Accounts has revealed that wedding goers in Britain are spending £624.10* attending loved ones weddings.
Men spend over £120 on their wedding guest attire for such an event, and two thirds think the bride and groom should be more considerate about the cost involved for guests at the planning stage.
As the wedding season fast approaches, the research has revealed that despite the recession, wedding guests have not cut back in proving how much they care about the happy couple. The expense all adds up when spending on gifts, clothes, accommodation, travel and reception drinks.
According to the research, many happy couples say that pre wedding events are as important to them as the big day itself. Brides opt for sunshine destinations while Grooms like an adventurous weekend away. When it comes to cost, stag and hen parties in the UK cost an average of £92.80, however, parties abroad are totalling £258.50.
On the day itself, appearance is the most important factor for guests who spend an average of £113.30 on clothes. Men spend slightly more on their clothes than women at £123.10 compared to £105.60.
When it comes to the wedding gift, half of those guests surveyed admitted that they would treat loved ones to a present costing between £50 - £100. That said, over a quarter of men specified that they would purchase a wedding gift over £100. It doesn’t stop there – typically guests spend £108.60 on hotels and £43.70 for the reception drinks. Men are said to spend more on drinks than women.
According to the Halifax Current Account research, it isn’t just the bride and groom who suffer with stress. Almost one in four guests have been put off going to a wedding due to the potential cost. That said, over two thirds would be happy to spend any amount provided that the couple were happy.
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Those who have spent large amounts on credit or store cards in preparation for attending weddings, or even on hosting weddings, could consider consolidating their debts with a debt
consolidation loan. One of many options to consolidate debt, a debt consolidation loan could be used to repay multiple outstanding debts, swapping several monthly repayments for one. A debt consolidation loan could potentially lower initial monthly outgoings. When using a debt consolidation loan, it should be remembered that Consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
