Newlyweds could quickly get into debt after getting married, as they often don’t consider the costs of setting up a home, a loan company has found.
AA Personal Loans reported that while 87 per cent of couples pay off the cost of the ceremony, the expense of moving in together is often poorly planned for.
In a survey by the organisation, half of those questioned said they experienced financial issues within eighteen months of marriage.
A further 3.4 million people claimed this worry put pressure on their relationship.
Appliances, decorations, home purchases and babies were cited as some of the significant outlays that couples usually commit to after marriage.
Head of AA Personal Loans Mark Huggins stated: “Many people who end up buying domestic appliances simply don’t have the cash and will take a high interest payment plan offered from the retailer.”
Meanwhile, overall consumer confidence is at a low – this fell by 11 points to 51 in July according to the Nationwide Consumer Confidence Index.
By Jamie Price