4 months ago 11th Jul 12:53
- Nearly 1 in 4 fail to keep a tab on their wedding finances -
Maths muddles are threatening to overshadow the happiest day of people’s lives, according to latest figures released by the Get On campaign*. With around a quarter of a million people expected to tie the knot this year, a poll of over 4,000 adults reveals that nearly a quarter (22 percent) of brides and grooms admit to failing to make a budget at all for their big day, leading to overspends which could cover the cost of a honeymoon.
Of people getting married in the past 10 years, four in ten found they spent more money than expected, going into the red by an average of £1,355. While the vast majority of people were overspending between around £500 and £2,000, some people splashed out up to £15,000 more than they originally intended.
The findings reveal an overall trend in which would-be weds are shying away from the financial side of their nuptials, either by failing to accurately research the cost of all the elements that make up their big day, or by having problems with the figures. Well over half of respondents who married in the past 10 years (54 percent) felt that everything had simply cost more than they had originally envisaged. A further 29 percent laid the blame on the excitement of getting married – claiming to have just got carried away in the moment. Contrary to popular opinion about the shopping splurges of women, men actually topped the polls of those people overspending, with 44 percent going over their budgets versus 36 percent of women.
In response to the survey findings, the Get On campaign is urging prospective brides and grooms to contact them if they think their wedding budgeting problems stem from a lack of confidence in their own maths ability. Gareth Thomas, Skills Policy Director - Integrated Employment and Skills, Learning and Skills Council said:
“Getting married is a hugely exciting time in anyone’s life, but no fun if you spend the months leading up to the big day worrying about your sums. For those that struggle with maths, managing a large budget can add extra worry to an already stressful period.
“Some people tend to shy away from dealing with complicated money matters and budgeting, but it doesn’t need to be as scary as you think. The message to anyone experiencing difficulties is to call 0800 66 0800 to find out how you can brush up on your maths skills.”
Relate spokesperson Cath Allen said:
More about Brides and grooms get the budgeting blues on page 2
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