- Monday, 10 May 2010Wedding guests could end up needing a
debt management plan as the cost of attending weddings increases, according to Santander Cards.
The retail and commercial bank's credit card department revealed that a guest will typically spend £380 attending a wedding with travel and accommodation being the biggest expense, followed by the present.
Emma Roberts, director of Santander Cards, believes it is easy to overlook the expenses involved in attending a wedding which could lead to financial difficulties.
However, Ms Roberts said: "To avoid suffering a financial hangover long after the wedding festivities have come to an end, those who have put spending on a credit card should make sure they transfer their balance to a zero per cent deal to manage their money as effectively as possible."
Careful budgeting should help guests avoid financial difficulties, especially if they have more than one wedding to attend.
Only four per cent have resorted to borrowing, either from family or friends or a personal loan, to afford attending a wedding. Some 14 per cent use a credit card.
In 2008 the total number of weddings was 270,400 with most people getting married in their late 20s to early 30s.
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