Mark Hayes, business development manager; Noelle Fitzpatrick, loans manager and Therese Conway, CEO of Cavan Credit Union. PHOTO: SEAN MCMAHON

€30K cost of wedding and honeymoon

A wedding is a truly joyful occasion, however it can also be a significant financial expense and it’s no wonder the bride-and-groom-to-be can begin to feel the stress taking over the enjoyment of nuptial planning. According to the latest survey, conducted this year, the average budget for a wedding including honeymoon just under €30,000.

The manager of Cavan Credit Union, Therese Conway, is urging couples not to become overwhelmed with finances and to contact them.

"Understandably, many couples may need financial assistance to help make their wedding dreams a reality. This is where Cavan Credit Union can help. We offer wedding loans with realistic terms, which can be paid back in a way that works best for each individual couple. We don’t have any hidden transaction fees or charges. Should any couple wish to pay back their loan early, they can easily do so without incurring any penalty or additional fees. We would encourage any couples out there feeling the financial strain of wedding plan to contact us and see if we can be of help," said Ms Conway.

To give an idea of how a loan might work in reality. The CU manager gives the following example: The monthly repayments on a €30,000 variable interest rate loan are €615.50 with Cavan Credit Union. That's over a five year term, on an interest rate of 8.5%(APR of 8.83%). The total amount payable by the member is €36,929.76. The information is correct as of April 7, 2022.