Expert offers tips to avoid wedding day debts

Carol Richardson from wedding planning specialist Confetti suggests that soon-to-be-married couples who decide to borrow to fund their ceremony should shop around to make sure they get a good deal on a personal loan.

Establishing a budget and sticking to it can also prove to be an important way for couples to avoid starting married life with a debt management burden, Ms Richardson maintains.

“Always set a budget at the start of the wedding and break down all of the elements, and decide which are most important to you,” she said.

“Then if you find you are overspending in one area, you can cut back on another so that you’re not actually overspending too much at the end and having to start your married life in debt.”

Credit consumers across the UK were hit by the fifth rise in the cost of borrowing in 11 months last week as the Bank of England decided to up the base rate of interest to 5.75 per cent.