Shelling Out Big Bucks: How Your Average Lovebird Accumulates Debt for their Nuptials
Most newlywed couples find themselves in debt due to their wedding festivities. - Half of the newlywed couples encounter debt due to their wedding expenses.
Here's the lowdown on how lovebirds end up in the red for their big day, based on a survey by Raisin (Weltsparen):
- Only 12% of the respondents managed to save zilch before the D-day. The rest, 28%, had been stashing away for like three whole years.
- Slightly over half (48%) of the sweethearts (oopsie, I mean respondents) went into hock for the shindig, but it was all short-term as a good chunk (around half) of the costs got miraculously recouped in the form of cash gifts.
- It's party time for 85% of the guests who showered the couple with an average of €140 perperson. Boys are a wee bit more generous, coughing up around €151, while the ladies usually dish out about €117.
- Most couples (46.6%) reckon their celebration won't cost more than a Benjamin (€100) per guest, which isn't a bad gig if you can get it. Inviting folks aged 60 and up might also pay off since they're known for splurging around a quarter more—that's almost €300 a pop!
- The present size primarily depends on how close you are to the couple. Interestingly, only 14% consider the scale of the bash when picking out their gift, favoring love and kinship over logistics.
For more insights about the average debt accumulated by German couples for their weddings, we encourage you to check out the comprehensive Raisin (Weltsparen) survey. And if there's anything else you need help with, don't hesitate to reach out!
- The employment policy of a community could play a significant role in helping couples save for their weddings, as financial stability can lead to increased savings.
- A wedding can be a worthwhile investment, as it may lead to the recoup of some costs through cash gifts from guests, averaging €140 per person in this study.
- In light of the expenses associated with weddings, it might be advisable for employers to consider offering policies that help employees manage their finances, such as a flexible spending account for wedding expenses, as part of an overall employment policy.
