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Half of newlyweds have no financial help from family

Tahmina Mannan
Written By:
Tahmina Mannan
Posted:
Updated:
09/04/2013

Tradition appears to be going out the window as half of couples married in the last year have admitted to paying for the big day themselves.

With ‘wedding discounts’ one of the most commonly searched-for terms on the internet throughout the month of March, a recent poll by MyVoucherCodes.co.uk revealed that the tradition of the bride’s family paying for the majority of the wedding, or any family members contributing, may be a thing of the past.

Respondents were asked about the cost of their wedding and where the money had come from to pay for certain aspects of the ceremony and/or reception.

When asked whether they’d had financial help from family and asked to specify which side, the bride or groom’s, helped, the poll revealed the following:

• No financial help from family – 53%

• Help from both bride and groom’s family – 37%

• Help from just groom’s family – 6%

• Help from just bride’s family – 4%

Those who received no financial help from any family members were asked why that was the case, to which the majority, 71%, said their families couldn’t afford it. A fifth, 19%, said they didn’t want financial help, while 7% said they didn’t need financial help as they couldn’t afford the wedding themselves.

However, when respondents were asked if they had gone into debt while planning and booking their wedding, almost half of the newlyweds, 47%, said ‘yes’. When asked how much their wedding had cost them, in total, the average answer stated by those taking part was £12,500.

Mark Pearson, chairman of MyVoucherCodes.co.uk, said: “To see that almost half of newlyweds ended up in debt because of their wedding is a real shame. After enjoying the happiest day of their life, many are faced with debts that take years to overcome. Weddings don’t have to be so costly, there are ways to save money and still have a great day.

“Besides, weddings aren’t all about showing off with a posh venue and such like; it’s a day to express how much you love the person you’re with and celebrate that.”

This comes as a recent report from the Post Office highlighted that on average, newly-engaged couples should prepare to save and scrimp for at least two years on average to be able to afford their wedding day.

UK couples need to save an average of £9,667 to cover their contribution to the cost of their wedding.

For one in 30 couples, this figure reaches in excess of £30,000.

 


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