Wedding plans ‘can prompt debt problems’

Figures from moneysupermarket.com show that around 56 per cent of engaged couples around the country intend to fund their wedding plans through some form of financial credit.

And the price comparison service found that close to a quarter of couples who were married five years ago are still working to clear the debts they accumulated, ITN reports.

Furthermore, the research established that the average amount being borrowed to finance matrimonial events in the UK is now around £8,500 per couple, while a quarter of those who borrow money take on between £10,000 and £15,000.

Meanwhile, as debt management problems mount for consumers across the UK, figures from the Co-operative Bank showed that the average amount spent on moving house during a lifetime is now over £23,800.

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