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A&L: Save impulses for love not finances

16 June 2006
New research from personal loans provider Alliance and Leicester (A&L) shows that a majority of Britons believe in love at first sight and a third would propose within six months if they thought they had found 'the one'.

However, A&L said that people should avoid being as impulsive when looking at financing their big day because believing in a 'loan at first sight' could cost you up to £850.

The average wedding today costs a staggering £17,000 and many people underestimate the true cost of the event by over 150 per cent, meaning that financial planning is more crucial than ever.

"It is encouraging to see that many of us are still old romantics who believe in love at first sight," said Claire Alvey, personal loans manager at A&L, "but as the cost of a modern wedding continues to rise, it is understandable that romance can take a back seat while we try to save towards the cost of the wedding."

Carol Richardson, from specialist wedding website, agreed: "The key to a successful wedding ceremony is planning, planning and then more planning," she said.

"Shop around, talk to all your suppliers and get a realistic idea of costs for every aspect of your day - from the flowers to the cake and the photographer.

"If you think you will need to borrow money to pay for the day, then don't forget to shop around for credit too and make sure you get the best deal as you would for any other element of your wedding."

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