We Say Yes Wedding Loans
The financial cost of saying ‘I Do’ can really dawn on couples at this time of year. With December the most popular month for engagements in Ireland, one in four couples will embark on their wedding plans in the New Year. Couples are now spending more than €24,400 on their wedding and honeymoon – and costs continue to rise.
According to the latest weddingsonline.ie survey, costs for wedding bands shot up by a huge 25% in 2017. Wedding venues increased in price by 9% and photographers by 8%. It’s no wonder the bride-and-groom-to-be can begin to feel the stress taking over the enjoyment of nuptial planning and as we move deeper into 2020 these costs are certainly only to increase !! Yikes !!
Despite many couples having a strict wedding budget, the reality is that this is very difficult to adhere to. When you consider that an average couple spends €66 per guest- and will invite 159 of their nearest and dearest, it’s not surprising that a substantial 50% will go over-budget. Understandably, around 17% of couples will need to borrow for their big day. How can they do this without racking up unnecessary debt?
“It’s understandable that even with the best intentions in the world, couples can end up spending a lot more than planned. Westport Credit Union is always here for those couples who need a little financial assistance to make their wedding dreams a reality. We only offer wedding loans with realistic terms, which can be paid back in a way that works best for each individual couple. We don’t have any hidden transaction fees or charges. Should any couple wish to pay back their loan early, they can easily do so without incurring any penalty or additional fees. We would encourage any couples out there feeling the financial strain of wedding plan to pop in to us and see if we can be of help” says Pauline Ryan, Westport CU Manager.
Pauline added: “We also offer great value Travel Insurance through coveru.ie, and foreign exchange for that all-important honeymoon. In short, we do everything we can at Westport Credit Union to ensure that couples in the Westport, Newport & Louisburgh areas have their dream day without any of the financial heartache.”
Pauline also says that planning out a wedding costs checklist can go a long way towards a couple staying on-budget. “There are a few tips that we would always advise any couple to adhere to as they start their wedding planning; Start with setting a budget before you approach any venues, dress shops or wedding vendors. Shop around and compare prices, even if you have seen your dream dress or wedding venue, take a look at what competitors are offering. Let your wedding vendors know that you are working to a budget and how much you are willing to spend. If it’s not a good fit, move on. Ensure that you read all contracts with vendors thoroughly before signing. Be aware of deposits, and when you have to pay the total amount, which is often in advance of the wedding. Pay attention to any additional fees or charges. And of course, talk to us here at Westport Credit Union for more budgeting tips or to enquire about our wedding loans. ”
For further information please contact our loans team at Westport Credit Union on 1850 940 270 or email info@westportcu.ie
