80% of Wedding Couples Borrow Money To Make The Most Of Their Big Day

Over $3.5billion was borrowed to pay for weddings in the USA last year as couples looked to make their big day the most memorable of their lives.

80% of newlyweds have paid via credit for aspects of their weddings, with the humble credit card one of the popular methods of payment to make the big day run as smoothly as possible.

On average couples spent around $3,000 on credit cards and loans, with the money being spent on the likes of wedding dresses, venues and catering among other things.

With the cost of a wedding hitting above the $30,000 mark on average it’s no surprise to see people seek financial help to pay for it. For the most part, family and friends are asked to help, but paying via credit card or loan seems sensible if couples can manage the payments back.

That’s partly due to the fact that most couples end up going over budget on their big day. A study from a few years ago found that 50% of bride-and-grooms-to-be expected to go over budget, with many compensating for that via credit. In theory, this isn’t a terrible idea. You can get a number of interest-free credit cards, while many others will offer you rewards as well as being an option for those who only have fair credit.

The latter makes the dream wedding a little more possible no matter what your credit background. It can often be a problem applying for personal loans to cover a wedding if your credit history isn’t great, meaning a credit card can be a real lifesaver, whether it be for securing a venue or getting the dress you’ve always dreamed of. There are dozens of cards out there which couples can make the most of. You can find out more details on such cards, which are well worth checking out, while credit cards will also cover you better should something happen.

It’s almost guaranteed that something won’t go to plan at a wedding. In extreme cases, flowers not arriving flowers on time or worse, your caterer failing to bring in food for the guests. By paying via credit card, newlyweds will be covered by the Consumer Credit Act, making it easier to claim your payment back.

Overall though, it really is no surprise to see more and more of us funding weddings via our flexible friends. In a world where inflation is rising quicker than the average wage, it makes funding the idyllic venue, the beautiful gown, even the honeymoon that bit more manageable.

If not, there’s always the DIY wedding option.