Is the 'Credit Crunch' Making More Couples Say "I don't…"?
There's no escaping it. The Big Day is expensive. And like everything else, costs just keep on going up. On top of this there are the Credit Crunch and job uncertainties to worry about. WeddingChaos.co.uk asked 400 couples whether they're saying "I don't" for the time being...
England (PRWEB) November 13, 2008 -- It's supposed to be the most romantic day of your life. But it's never going to be idyllic if you're watching the pennies knowing that everything - from the ribbon on the limo through to the Champagne on the table - will mean months or even years of having to scrimp and save. That is, if you can get your hands on a loan in the first place. Or if you still have a salary to pay it off. Not every B2B has a 'rich daddy' with an open cheque book to pay for the Big Day!
From our research at http://www.WeddingChaos.co.uk, the prospect of being saddled with debt after the wedding is worrying more and more couples. So much so that 81 out of the 400 we polled have postponed the Big Day altogether for the time being.
One thing couples seem to be asking themselves more and more is: "Do we really need all the fancy trappings?" For a few, however, it seems that a bells-and-whistles wedding is still important - 32 out of the 400 we polled are borrowing extra cash to splash out on the Big Day. However a sizeable 139 are actually slashing their budget and opting for something much simpler.
Faced with a 30% hike in living costs, one couple has cancelled their all-singing-all-dancing wedding in favour of "waiting for a sunny day and having a surprise picnic with a minister and all the important people".
Another says she's brought the wedding forward, opting for a cheaper alternative using money they've already saved. "I really think things are going to get worse so in my heart of hearts," says Sas, "I couldn't justify spending all that extra money on just one day."
Gemma says the Credit Crunch has made her "value money more" and "cut out the things that aren't important" like "posh cars, expensive photography and an expensive honeymoon".
In an ideal world she wouldn't think twice about saving up and splashing out "but starting married life in debt is not an option" and she feels she "can still have the perfect day… without overdoing it". Just by organising the favours, flowers, stationery and decorations she's already saved herself £500. "Auntie is making the cake and friends will drive the bridesmaids to the church."
It seems as if the Credit Crunch is forcing couples to re-think their priorities, which can't be a bad thing. Chaela, for instance, wonders if people have forgotten about the real reasons why people get married: "celebrating life, celebrating a union of us, our families and friends" and not "tiny details which no-one will ever remember". She's much more "conscious of making sure we all have a good time, than worrying about expensive things people may not notice".
Those who have gone ahead with wedding plans, despite the Credit Crunch, are now being faced with huge repayments. As Jen says, "We had everything we wanted and luckily didn't have to cut any corners but now it's twice as hard paying it off."
For Amy, too, debt has been a problem. "I have not had as much spare cash each month as I had hoped for, so it has taken longer [to pay off]." Sarah went ahead but her dream wedding abroad was affected by the exchange rates as they "couldn't pay for any of the rooms / food / drinks before checking out [of the hotel]".
Hayley says her wedding will be going ahead thanks to her fiance's savings "but our day-to-day living has been affected and we struggle through each month." Similarly, Jenny admits: "I couldn't have had the wedding I did have if I was planning it now."
But for others, there will be no wedding… for the time being. Kate and her fiancé have been forced to give themselves "an extra year to pay for things" because of financial pressures and uncertainty.
Ashley has been faced with a £200 per month hike in mortgage repayments which has meant having to "postpone the wedding until 2010".
So, from the WeddingChaos.co.uk poll, it looks as if virtually every couple is being affected by the Credit Crunch. Even those that fell into the 'no effect' category seem to be finding it harder to meet payments - or saying they'd have thought twice about going ahead if they'd left it till now.
But the good news is that at least the Credit Crunch seems to be getting people to think hard about what's really important - especially in a day and age where people have come to expect a lavish no-expense-spared affair.
Could a simple ceremony with close friends in a beautiful meadow actually be a much more romantic and genuine gesture when it comes to getting hitched? Could the days of the showy extravagant wedding be over? It seems couples will be voting with their wallets.
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