As families struggle financially while unemployment continues to rise and the economy recovers at a slow rate, many will also be faced with the exciting, but expensive, prospect of hearing their child is getting married.
With the average cost of a wedding costing upwards of $20,000, according to the aptly titled CostOfWedding.com, even a wedding done at a discounted rate could easily set a family back about $15,000.
When dealing with wedding expenses that surpass one’s budget, a payday loan may be able to alleviate some of the financial crunch and enable families to properly celebrate their child’s special day.
According to the Baltimore Sun, the economy has led to a litany of problems for couples planning on tying the knot as they try to finance the event. More and more often couples are deciding to downsize the event to make it more reasonable.
“The economy is what’s on everybody’s mind. More than anything, people are saying, ”We want to get married, but how do we pay for it?” Shane McMurray, CEO of wedding industry tracker the Wedding Report, told the Sun.
McMurray said that the economy has led to smaller scale weddings – with guest lists averaging 145 people as opposed to 166 in 2007 – as well as more cost effective wedding ceremonies as well.
However, he added that the lowest wedding costs, which were seen during Q2 2009, still averaged about $16,500 in total expenses.
