RICHMOND, Va. (WWBT) - 33% of recently-married Americans went into debt to finance the cost of their wedding. That’s according to a new survey by LendEDU.
The average wedding debtor took on around $11,737 due to wedding expenses. The Washington Post recently did a story that found many younger Americans are taking on wedding based personal loans to afford a “social-media worthy” ceremony. But-- out of a thousand surveyed-- 86% used a credit card to pay for that lavish ceremony. Another 37% took on a personal loan.
Your wedding is a special day, but it’s one day. Instead of committing to years of debt, think about extending your engagement so you can save the money you’ll need. Scaling back the arrangements and doing a lot of the work yourself—will help, too.
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