Although happy couples may have their hearts set on having the perfect wedding day, a lack of financial planning may see them develop debt difficulties, new figures indicate.

With the average wedding reported to cost about 18,000 pounds , findings from Equifax have suggested that unless they create and stick to a budget, those looking to get married could well start their life as husband and wife in financial turmoil. Research from the company also showed that out of those couples planning on financing their wedding via credit, some 50 per cent are set to take out a personal loan. Meanwhile, the company also reported that just under a third (29 per cent) of consumers saving for a wedding have more than 5,000 pounds worth of short-term debt.

Neil Munroe, external affairs director for Equifax, stated that unless couples plan their finances carefully then could find themselves developing debt difficulties very quickly. He asserted: “Losing track of how much you are spending and the potential for unforeseen costs are common problems with weddings. Early planning and budgeting are the key to post-wedding day financial bliss.”

Using 28-year-old bride-to-be Kim Shillaker as a case study, the credit information provider pointed out the pressure the big day can have on consumers’ finances. She said: “A budget was not planned out for our wedding and I am not too sure how much in total has been spent so far on the wedding.” Adding that she had spent more than expected on her dress, Ms Shillaker and her partner claim to have further strains placed upon their finances as a result of recently moving home and the effects of interest rate rises by the Bank of England’s monetary policy committee having a knock-on effect on how much they will be able to spend.

And despite continuing to save money and receiving financial assistance from their parents, the couple are now set to fund part of their marriage expenses by raiding their savings and borrowing money - with a low-rate loan a potential option. “Kim is like many brides who really don’t want to have to compromise on any aspect of their wedding. However many couples are not fully aware of the impact their increasing debt can have on their future. It is much better to end the honeymoon without a financial hangover,” Mr Munroe added.

Consequently the firm advised that couples take the time to shop around for competitive deals and visit wedding fairs in an attempt to keep costs low.

As a result, those concerned about their ability to fund their wedding may be well advised to set up a budget. Upon doing so if they find that they will be unable to afford the wedding they desire, taking a low-rate loan could be one way in which to finance their big day. However, with this in mind, newlyweds and those looking to get married should ensure that they are always in a position to make repayments.

Earlier this year, a study conducted by the Manchester Business School for Haines Watts IVA suggested that 13,000 couples in England and Wales filed for insolvency during 2006 - a rise of 165 per cent from two years ago - as they struggle to pay off loans and other forms of borrowing.