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Brits planning to attend a wedding should start saving to avoid debt problems

Brits planning to attend a wedding should start saving to avoid debt problems

- Thursday, 28 April 2011

Consumers concerned about getting into credit card debt to pay to attend a wedding may want to use their savings instead.

That is because Brits spend around £900 a year on attending a family member's or friend's wedding, a new report by Halifax Savings has found.

It was revealed that a typical wedding guest spends £111 on accommodation and travel, £106 on clothes, £81 on wedding gifts, £63 on the reception and £91 on the stag or hen do.

This adds up to £452 and the average person attends two weddings a year, suggesting they are spending £904 a year on them.

As a result, some Brits may resort to borrowing money on a credit card in order to pay to attend a wedding, which could lead to debt problems.

Flavia Palacios, head of Halifax Savings products, said: "So that you can afford the wedding season in your life, it is important to have a regular, established savings habit in place not only so that you will not miss out from attending your friend and family member's weddings."

Brits planning their own big day have been advised to avoid telling businesses they are paying for a wedding as this can add 25 per cent to the cost, suggested Jasmine Birtles, a financial journalist.
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