Brits Shown To Be Keen On Perfect Wedding
While love may be the centrepiece of a couple’s married life together, it appears a price can be placed on the various elements needed to make sure the wedding is a successful one.
In research carried out by Alliance & Leicester it was revealed that achieving the top ten ‘must-haves’ required for the perfect wedding can set consumers back by thousands of pounds. The financial service provider’s study indicated that 15 per cent of people believe having a designer wedding dress is important to the big day, with such an item indicated as having a typical cost of 1,310 pounds. Meanwhile, a picturesque venue and horse-drawn carriage were shown to be sought-after components of a wedding and are worth an average of 2,200 and 750 pounds respectively. Other costs indicated as running up three figure sums were revealed to include expensive flower arrangements, string quartets and a famous artist to perform at the reception. For the latter people from Manchester were shown to be particularly keen on.
Loved-up consumers looking for an effective way in which to meet the costs of having a perfect wedding might wish to consider applying for a personal loan.
However, it appears people are not entirely focusing on money as the most desired must-have of a dream wedding was shown to be good weather. Some 76 per cent of those questioned were indicated as wanting pleasant conditions for their big day.
Richard Al-Dabbagh, head of personal loans at Alliance & Leicester, said: “Money can’t buy you everything for the perfect wedding, with the weather being unpredictable at best. This was best illustrated in the recent Rooney wedding, where even a total spend of five million pounds on their Italian nuptials could not stop the day being a wash-out. Most Brits can only dream of a budget like Wayne and Coleen’s, so it is unsurprising that we have lower expectations of what a wedding will cost. Even so it appears that the actual cost of the big day is greatly underestimated and it is essential to assess finances when budgeting for your special day.”
As such, Mr Al-Dabbagh claimed that for those looking for a way in which to supplement their finances ahead of getting married, taking out a low-rate loan could be a sensible option.
Indeed, obtaining a loan for the purposes of getting married could be particularly advisable as the firm revealed consumers will underestimate the total cost of nuptials by more than 3,000 pounds. Findings from Alliance & Leicester showed that people believe the wedding reception will cost them 4,788 pounds when it actually will set them back 7,725 pounds. Meanwhile, the amount of money that will be spent on the ceremony is about 1,000 pounds above people’s original predictions. Overall, Britons think the typical wedding cost 15,927 pounds, when in actuality the big day will cost them a total of 19,400 pounds.
By taking the decision to apply for a personal loan, coupled might find that they are able to meet the various costs related to getting married - such as venue hire, rings, dresses and honeymoon - quickly. As such they could discover that they are left with a single affordable payment to make each month. Meanwhile, a study carried out by the Motley Fool last month showed that some 1.4 per cent of Britons are willing to spend more than 30,000 pounds on getting married, with eight per cent prepared for an expenditure of between 15,000 and 20,000 pounds. In addition, the research indicated about one in ten are ready to either take out either a loan or a credit card in order to meet such costs.
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