Weddings Have Couples Seeking Debt Relief

Wedding season has officially arrived and a recent study shows that almost 90 percent of couples spend too much money on the big event.

Nearly 20 percent of couples say they spent too much money on drinks, food, and the wedding cake, according to a Visa survey. When it comes to the honeymoon and the hotel, 14 percent overspend. More than 10 percent believe they should have been more frugal when it came to the reception and clothing costs.

With couples shelling out close to $9,000 on average for their wedding and honeymoon, it's easy to see how they can fall into debt and need to seek out a relief program later. Jason Alderman, senior director of Visa Financial Education, said that "the money conversation needs to happen as soon as you become engaged, not while you are on the way to the altar. For most couples, their wedding is the first major financial decision they will make together and can set the tone for how they deal with money for the rest of their lives."

There were more than 2 million weddings in the U.S. during 2008, according to the CDC. It's one of the largest retail industries in this country.