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Cash is more popular than wedding gifts as couples may worry about debt

Cash is more popular than wedding gifts as couples may worry about debt

- Wednesday, 13 April 2011

Couples are now more likely to ask for cash rather than the traditional wedding gift on their big day, as they may be concerned with accruing debt problems in married life.

A recent survey by first direct found that 35 per cent of prospective newlyweds will ask for cash or vouchers, while just three per cent would ask for donations to their favourite charity.

Prince William and Kate Middleton have asked for donations to charity for their wedding, which will be taking place at Westminster Abbey on April 29th.

Richard Brown, senior savings product manager at the online bank, said: "With couples needing huge deposits to get on the housing ladder and the cost of everything from honeymoons to petrol going up, the economic reality for most couples is that money is the most useful gift they can ask for."

He added that couples can put this cash into a savings account to help them pay for a deposit on a house and other important purchases.

This could be helpful as debt problems can cause a strain in relationships, suggested financial psychologist Kim Stephenson recently.
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