By Lanai Vasek November 20, 2008 02:44pm

EVER thought of plunging yourself into debt to throw a party for 100 of your friends and family? It's becoming more popular, with some even increasing their home loans for the big day – commonly referred to as a wedding.

A couple in the UK got hitched this month in a ceremony costing around £100,000 ($235,000), with the bride traipsing down the aisle in a dress worth as much as the average Australian wedding.

The ceremony was paid for by the bride's parents, and the bouquet alone was worth more than $1100.

Although getting married is often one of the biggest moments in a person's life, experts say taking a walk down the aisle could put you in a mountain of debt.

Getting hitched can set you back anywhere from $20,000 to well over $100,000. The average Australian wedding costs around $39,000.

Who should pay?

Many couples don't want to spare any expense when it comes to their big day, with some prepared to take out loans to pay for it.

More than 75 per cent of all wedding costs are now paid for by the bride and groom, according to Bride to Be's 2006 Cost of Love survey.

"And Mum and Dad are less likely to pick up the tab if the kids are in good jobs making their own cash," says Paula Barham, founder and owner of the Wedding Planner Association of Australia.

"It should be a balancing act between the parents and the couple, however some are still taking advantage of their parents' generosity," she said.

The average age of a bride and groom is now 29 and 32 respectively, according to the Australian Bureau of Statistics.

"There are still a lot of people out there paying for their children's weddings, but they often put themselves into financial ruin for it," says credit counsellor Jennifer Gracie.

"I've seen families take out equity on their home loan, get personal loans, and really struggle simply because they think it's the right thing to do," she said.

Why spend?

These days it's a simple fact that more marriages fail than they did previously, says Ms Gracie.

"But Gen X and Y still want their fairytale wedding - however what's to say you'll still be together in a couple of years?"

"And who's left paying the bill if you or your parents decide to take a loan?" she said.

Money is one of the top three stressors on a relationship today. And with divorce a $6 billion a year industry, paying off a wedding loan may not be the end of your cash woes.

"Couples need to be smart around what's really important - a wedding is only the beginning of a life long partnership together, and it's just one day," Ms Gracie said.

How to cut costs

If you're planning to tie the knot soon, check out these tips to cut costs without sacrificing the details.

Pick your time wisely

Being smart around the day of the week or the time of year for your wedding could save you mountains of cash.

March, October and November are the most popular months for nuptials, with Saturday afternoon the most popular day of the week to be married.

"Thursday or Friday weddings are often drastically cheaper," Ms Barham says, adding the difference can often be in the thousands.

Buy pre-loved

The bride's dress is one of the more costly items of a wedding - but it can also be an area of massive savings.

"Pre-loved normally means a dress has only been worn once before - and really who is going to know the dress second hand?" Ms Barham said.

"The average new dress can cost anywhere from $1000-8000 and buying pre loved can mean getting your dream dress at a quarter of the cost," she said.

DIY reception

Although the whole point of a wedding is saying 'I do' the average spend on the ceremony is just $1526 - a stark contrast to the $13,256 spent on the reception.

"Prices simply aren't what they used to be and a lot of couples are shocked by the cost of the reception," said Ms Barham.

"Get a marquee, set it up, hire a catering company, use your iPod instead of a DJ - and I guarantee you will cut down on costs."

Weekend honeymoon

The honeymoon is often a well deserved break after wedding chaos; however couples spend an average of around $6100 on the holiday, including flights.

Ms Barham says it's not necessary, but becoming more common.

"I had a couple that went on honeymoon for two months after spending $80,000 on the wedding," she said.

"Go away for a weekend three months down the track, save the money, or at least shop around," she said.

Ms Barham says the most important thing is to think smart, and remember it's only one day.

Whatever you do - make sure you spend enough money to avoid these disasters.