Photo Credit: Delmaine Donso
Weddings, no matter your budget, can pinch your wallet. So, brides and grooms are taking a new route. They're putting their wedding on lay-by or 'Wed Now and Pay Later'.
FOX 5 I-Team's Dana Fowle explained how the new trend works. Looking at online platforms and magazines, the average wedding costs $28 000 (almost R500 000). Traditionally that is paid in different ways like parents chipping in, siblings helping out, or loans.
Lately, US couples have turned to a 'Wed Now and Pay Later' trend like the lay-by system where you agree to instalment payments. They're using a site called Maroo where you can book services for your wedding but pay later.
Once you're approved Maroo pays the vendors, and you pay off your short-term loan to Maroo and its interest free.
There is no sign up fee. There are now more emerging platforms that are doing the same, however they are not quite there yet. You will be hearing more about those in the next couple of months.
This is a game-changer for a lot of brides and grooms trying to get a wedding together. Only time will tell if South African vendors and businesses will be taking the same route.
