The costs of marriages and honeymoons are rising, and star-struck Brits are so addled by love that they are failing to compare loans to find the best rates to pay for them.
The average honeymoon now costs £2,863 ñ and almost a third are paying for it with a homeowner loan or credit card says research by National Savings and Investments (NSI).
Almost one in four fails to compare loans and compare credit cards. Only six per cent thought to compare loans and find the best rate available to them, while a quarter splashed on expensive plastic ñ getting far from the best rate.
Almost 60 per cent of people paid for their honeymoon with their savings rather than best rate credit, while a fortunate 24 per cent were able to afford it through their regular income.
“Many of us dream about finding our ideal partner and having a fabulous wedding, but are not necessarily aware of the costs involved,” Karen Jones, marketing director at NSI, told My Finances.
Ensuring that you compare loans or compare credit cards when finding the best rate on a homeowner loan or other forms of credit can cut down the costs of a romantic getaway substantially.
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