Monday, 13 November 2017 12:43

Couples taking out loans of £30,000 for 'celebrity style' weddings rises by 50 per cent

Not so long ago we reported that couples were taking out loans of up to nearly £20,000 in order to have the very best wedding day possible. We spoke about how it was ridiculous to pay so much just for one day and how the money could be far better utilised, getting set in a first home together, for instance.

But it appears our words of wisdom have been ignored, quite spectacularly, as this week it has emerged that couples taking out loans of more than £30,000 to fund their lavish wedding plans has risen by well over fifty per cent.

It’s completely ludicrous in our opinion. It shouldn’t take over £30,000 to show someone you love them and want to be with them. We are living in times where people who work part/full time cannot comfortably afford to eat and are visiting food banks on a regular basis. We are also seeing young people who have lived in areas for years unable to buy or even rent in these very areas that they call home because house prices are so ridiculously expensive. Yet, despite all this, we are still hearing stories of people taking out loans worth thousands of pounds in a bid to behave like celebrities for a day.

People need to get their priorities in order. We hate to sound like we are ranting and raving, but it is excruciatingly frustrating. Imagine what £30,000 could buy you? In that money there is a decent house deposit and there is money to be put away into a savings account, which could be utilised for something that would be highly beneficial for the future. It could also be put away for future children.

We understand there is a fair amount of pressure from friends and relatives to make a wedding day a good day for everybody, and this pressure is compounded even more when you read ridiculous celebrity stories such as that of Pippa Middleton marrying her millionaire beau at a cost of nearly £400,000! It really is pompous to say the least.

The average wedding cost now stands at a total of £28,000 and it appears more people than ever before are spending this kind of cash to get the day of their dreams. Wedding dresses are double the price, on average, of what they were a decade ago and rings and venues are also far dearer than they used to be. And whilst ever people are continuing to spend that kind of silly money, prices for these things will just keep rising and rising.

The average cost of a wedding in and around London is nearly £40,000 now…

Some people have even admitted to asking friends and family for a financial contribution to their wedding to ensure they get the day that they are dreaming of. We completely support people asking for a helping hand off family and friends, but this is to help reduce costs not add to it so that the day can be an elaborate affair.

Nobody seems to realise that a wedding can be just as perfect without money being thrown at it.

Family and friends can help with food and flowers and dresses and suits can be hired. As long as the day is about what the bride and groom want and they have family and friends around them why should it cost so much money?

Money can be saved in so many areas. Cut down on the number of guests, hire dresses and suits, get family and friends to help with food and table decorations, hire own DJ, etc. There are so many options out there and the money could be far better spent. The money saved would go some way to paying for a honeymoon for instance, which will last far longer than just the day and will be a chance for memories to be made that will last a lifetime.

We personally think that the money could be far better spent if it is invested or saved towards something that will give financial stability for the future,

We have absolutely no sympathy for people who blow £30,000 on a ‘celebrity-style’ wedding day and then claim that they cannot afford to buy their own home and have to borrow from the bank of mum and dad. In a lot of instances this attitude is what is wrong with the people of today. We completely agree that there is a housing crisis and property costs far too much and that the costs of living needs to be much lower, but whilst there are still attitudes that people deserve to have a wedding that costs tens of thousands in times of hardship, we lose all respect and sympathy.

Be sensible with the finances that you have. Invest it wisely and by all means have a wedding day to remember, but one that won’t leave you counting the pennies for years after the date.

"Easy Loans" is a trading name of Quick Loans Ltd is registered in England and Wales. Authorised and regulated by the Financial Conduct Authority under registration number 763132

Offers of credit are only available to people over the age of 18

© Copyright 2019 All Rights Reserved.