I don't think having a wedding ceremony costing 40k will get one
mired into debt. Don't wedding guest give angpow to the couple?
Even if it does not add up to 40k it will also be 20k-30k how does
10k make somebody bankrupt? Legally I think you only need be in
debt for 10k to become bankrupt candidate but we talking abt
wedding couple between 2 single people who have for some years
planned and saved for ceremony.
What I think makes people bankrupt is the easy credit thats
available out there. Around this time when interest rates are low
and economy seems to be swinging again as visibly seen from
increased interest and activity in stock market, the feel good
factor is back, coe car prices at all time low and lots of interest
in the property sector, normally around this time, people will
begin to get married, buy new car or upgrade house to take
advantage of easy cheap money to borrow.
No matter how many people learnt from getting burnt in the last
recession market crash during 90's or no matter how many people
preach the virtues of frugal living or lessons of past years there
will always be people suckered into the belief that they being
young earning high pay are in the top income bracket so the good
times will never end and will succumb to the lure of greed, fast
cars babes and easy money.
