- Monday, 7 June 2010Couples who are getting married are more likely to pay for the wedding themselves rather than their parents, which could make it harder to meet the terms of any
debt management plans.
According to Tesco Bank, just over half of all UK couples (52 per cent) now pay for the majority of their wedding costs from their own pockets, which could be as much as £4,700.
Less than a third (27 per cent) of parents of the bride fulfil the traditional role of paying for their daughter's wedding today.
Jeremy Sutton, head of savings and investment at Tesco Bank, said: "Planning your wedding day can be quite stressful, particularly when it comes to managing finances. Saving regularly each month can really make a difference.
"Our research shows that most couples are cutting their cloth in the run up to the big day by saving money where they can."
It takes an average couple ten months to save up for their wedding and in order to do this, meals out and holidays are likely to be reduced or cut.
Wedding guests could also face financial difficulty as they can spend about £294 each on gifts and preparations, claims Direct Line.
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