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Halifax saving advice for couples

19 August 2005
Couples should begin saving for their wedding as soon as possible according to Halifax Financial Services.

It suggests starting the financial planning for the big day up to 15 years in advance!

Weddings might be increasing in popularity again, with over 306,000 couples marrying in 2003, but so are the costs.

Halifax estimates that the typical wedding now costs £17,000 with over £6,000 going on the reception alone.

And with the bride's parents less and less likely to foot the bill couples are encouraged to plan ahead rather than risk wakening- up with a financial as well as champagne headache.

Over a 15 year period £65 put away a month could grow to almost £18,000 – assuming a growth rate of seven per cent.

Ray Milne, Managing Director, Halifax Financial Services said: "The happiest day of your life could also be one of the most expensive for the happy couple and their parents. Everyone would rather start married life richer, rather than poorer.

"To ensure the happy couple have the kind of day they want it's important that those involved in paying for wedding costs plan and invest over the long-term."

To read more about savings and investments, click here.

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