1 in 3 Canadian couples go into debt to get married; is that a good idea?

“We were engaged for a year, which allowed us to save and pay for cash for the entire wedding,” explains Skar, an Edmonton-based father, real estate agent and founder of rewrittn. So even though the entire event cost the Skars about $18,000, they started their new life together wedding-debt-free.

“A wedding is a joyous celebration, but it’s also important for couples to keep in mind that they should only spend what they can comfortably afford for the day, rather than begin married life with an extravaganza that puts them in a financial hole,” says Carma Peters, president and CEO of Michigan Legacy Credit Union.

A money coach can cost as little as $75 per hour. A few hours can help you establish realistic spending and saving for your wedding, and help you avoid years of high-interest debt.Article contentWhen planning your wedding, it’s easy to prioritize pleasing others. “Setting a maximum budget for each category and sub-category helps prevent impulsive purchases and helps prioritize your spending,” says Martin.

“The amount of debt was intentional and planned. They chose to set aside $1,000 per month to pay off the interest-free debt within a year.”

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