A personal debt solutions specialist has cautioned soon-to-be married couples not to let their big day lead to long-term financial troubles.
With the average wedding costing more than £20,000 the fairy-tale experience can quickly turn into an endless nightmare of bills, loans and excess payments.
Spring time can be an important period for couples planning to marry in the summer, with deposits and bookings being paid and confirmed ahead of the event.
Aimee Sheehan, 23, from Sheffield is currently planning her wedding while working at Wilson Field Ltd, one of the UK’s premier business turnaround and insolvency specialists.
Wilson Field provides complete business recovery, insolvency and personal debt solutions to businesses and individuals across the UK.
Each day Aimee uses her professional savings knowledge to help people solve their debt problems and offer support on how to keep personal finances in check.
She is now aiming to heed her own advice when it comes to planning her own special day. Aimee said: “With a dress, suits, photographer, cakes, decorations, entertainment, transport flowers and venues all to pay for, the desire to keep spending when planning your big day can become uncontrollable. A wedding is supposed to be the happiest day of your life and knowing you have spent so much money, will just add stress to the day.
“I deal with Individual Voluntary Arrangements on a day-to-day basis and I do not want to end up in one as a result of my special day.
“I would advise anyone who is planning their wedding day and seeing the spending is getting out of hand to think twice about what they want from the day. Remember to save up and stick to a budget to avoid complications and money issues in your first years of married life.” An IVA is a formal arrangement with unsecured creditors, where an individual agrees to pay an affordable monthly amount shared amongst those owed money, usually over a five-year period.
Wilson Field recently launched a new IVA website to give advice and information to individuals and businesses on issues such as tax arrears, bankruptcy, threat of legal action and losing property.
The company has offices in Sheffield, Manchester, Leeds, and the West Midlands, with a further five offices planned to open during 2013.
To speak to an expert from Wilson Field’s free advice line call 0800 458 3320 or visit its new IVA website www.wilsonfieldiva.co.uk.