Wedding guests getting into debt to cover costs

Weddings can be expensive occasions - and not just for the happy couple.

According to a poll by Be Clever With Your Cash, nearly one in three (29%) wedding guests have taken out credit to attend a wedding and a stag or hen do in the last two years.

Of these people, nearly half (47%) have used the credit to cover over half of the cost of the trip.

“Using credit to pay for something isn’t necessarily a bad thing, as long as you’ve got a plan to repay it,” said Be Clever With Your Cash.

“But it’s risky business if you take on debt you can’t afford, as you could end up paying more for it and damaging your credit rating if you miss repayments.”

One in seven (14%) wedding guests were found to have taken on debt or made existing debt worse through going to someone’s wedding celebration.

Meanwhile, almost one in five (17%) have paid for it by dipping into savings already earmarked for something else.

How much does attending a wedding cost?

Wedding guests can face many costs, from travel, accommodation and presents to clothes, food and drink.

So it’s no surprise that the cost of being part of the celebrations can quickly add up into hundreds of pounds.

Be Clever With Your Cash estimates that the average cost of going to a wedding in the UK is £337.30 per guest, and £549.40 if you’re going to a destination wedding.

And that’s before we factor in the cost of attending the stag or hen do.

On average, a stag or hen do in the UK costs £380 per person, and £502.90 per person if you’re going abroad.

But many are paying far more than the average amount.

In fact, one in seven (14%) 18 to 34-year-olds said they’ve spent more than £1,000 to attend a stag or hen do. 

Interestingly, not everyone is happy to be spending this amount of money.

Nearly one in five (19%) people said they think couples expect their guests to spend too much on their wedding.