As wedding costs continue to rise, British consumers are becoming more restrained on the big day.
A survey by Halifax found that only nine per cent of the British public believes that £16,000 – the average cost of a wedding – is reasonable. Over half said that they would prefer to spend between £1,000 and £9,999.
Interestingly, it was those with little experience of wedlock – singletons and young people – who were most keen to splash out, with over 25 per cent of the former group saying they would happily spend over £16,000.
"Weddings seem to have been back in fashion in recent years and we have seen average costs increase dramatically. However, our survey suggests that there may be a change in opinion as to how much couples should spend," said head of Halifax unsecured personal loans Ian Corfield.
However, people are still willing to over spend on their honeymoon. Over 40 per cent said that they would dole out £2,000 to £4,999, whilst just under a fifth said that £5,000 to £9,999 was reasonable.
Mr Corfield added: "People seem generally more comfortable with average honeymoon costs and do not see this level of expense as unreasonable or over inflated."To read more about Personal Loans, click here.
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