Newlyweds Face Debt Problems
Newlywed couples should consider their post-wedding finances or risk having to seek debt advice.
A study by the AA shows that almost half of all newly married couples have suffered with debt worries within the first 18 months of married life. These worries start with the wedding day, as 87% pay towards the cost of the ceremony, meaning that many are left with wedding debt.
Large purchases for the marital home is said to be the main cause of financial problems, with almost 40% buying domestic appliances or home decorations within the first year and a half of marriage.
Mark Huggins, Head of AA Personal Loans, comments: “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.”