Half of couples who borrow money for their wedding regret it

As the old saying goes, when you're planning a wedding you'll need 'something old, something new, something borrowed and something blue'. New research from Debt Advisory Centre shows that nowadays 'something borrowed' often refers to money. 17% of married couples (5 million) say they took out credit to help pay for their wedding.
 
The older you are, the less likely you are to borrow to pay for your wedding. Four in 10 (41%) younger couples - aged 25-34 - borrow to fund their wedding, falling to 28% of people aged 35-44 years old, 13% of 45-54s, 6% of 55-64s and just 3% of people over 65.
 
Most couples (69%) borrowed under £5,000, but 10% borrowed over £10,000.
 
Couples who are thinking of getting into debt to fund their wedding need to think carefully - as 34% of people who borrowed are still repaying what they owe. It is possible that they will look back and regret borrowing money - as 18% wish they hadn't borrowed anything.
 
Those who are determined to borrow should carefully calculate how much they need, as 28% wish they'd borrowed less. That works out as nearly half of couples who borrowed for their wedding (46%) regretting their decision to some extent.
 
Ian Williams of Debt Advisory Centre said: "With recent figures suggesting that the average wedding costs around £20,000, it's unsurprising that many couples are borrowing to fund their special day.
 
"Debt is never something to be taken lightly, though. Ensure that your repayments will fit comfortably in your married life, especially if you're planning on buying a new home or starting a family. And remember that internet is full of sites and blogs that could help you plan your dream wedding for a bit less."