(Closed) Did you take on debt to fund you wedding and/or honeymoon?

posted 6 years ago in Money
  • poll: Did you take on debt to fund your wedding and honeymoon
    Yes : (65 votes)
    19 %
    No : (285 votes)
    81 %
  • Post # 62
    Member
    935 posts
    Busy bee
    • Wedding: February 2014

    @HannahGrace:  That someone was me.  Ask the Fiance – the cost for his education was a complete waste.  I’m not saying spend 80K on a wedding if you don’t have it but it was a complete waste of his 80K getting a 4 year degree at NYU but nobody would ever tell him that’s stupid but everyone wants to scoff at those that would go into debt (even a small amount of 15K) 

    What I said was not crazy.  

     

    Post # 63
    Member
    1403 posts
    Bumble bee
    • Wedding: September 2014

    @FleeSircus:  Yeah, any 4 year degree is money better spent than any wedding event.  Marriage is important, party isn’t.

    Post # 64
    Member
    1166 posts
    Bumble bee
    • Wedding: January 2015

    No, but we are charging things for the wedding whenever we can and paying the cards off in full (usually that day) for the airline miles and travel rewards, I “bounce around a lot” as I call it and the occasional free flight is completely worth it.  

    Post # 65
    Hostess
    11165 posts
    Sugar Beekeeper

    No, absolutely not. Darling Husband and I paid for our wedding and honeymoon completely on our own without incurring debt or delaying payments. I don’t see either a wedding or a honeymoon as a valid reason for debt for us. 

    Post # 66
    Member
    935 posts
    Busy bee
    • Wedding: February 2014

    @HannahGrace:  If it makes you feel better to belittle a lot of people on here by calling it a party, knock yourself out.

    And ummm who is saying a marriage isn’t important?  So if someone wants to spend money on a party it means they don’t understand that a marriage is important?  Are things that black and white to you.  Read what I originally said.  I wasn’t comparing them 100%

    Fiance went to NYU (an institution that charges twice what most other schools do) but nobody thought that was a bad investment (it was, spending that much for undergrad is insane) when you can spend 40K and probably have the same results finding a job.  My point was….nobody would dare think overspending for a brand name school is irresponsible spending but going into debt by 5, 10, or 15K is irresponsible?

    Post # 67
    Member
    10650 posts
    Sugar Beekeeper
    • Wedding: January 2011

    We had the money to pay for everything, but things for the wedding were paid with a CC.  So yes, we were in debt for things for the wedding for short periods of time, but everything was paid off before statements were due.

     

    Post # 68
    Member
    4192 posts
    Honey bee
    • Wedding: July 2012 - Baltimore Museum of Industry

    We waited 6 months to have our honeymoon. Finances weren’t the main reason, but there’s nothing wrong with saving up for either your wedding or honeymoon. We met a couple in Jamaica this year who waited ten years for their honeymoon! (Didn’t have the money the first few years, then had kids.)

    Post # 69
    Member
    10452 posts
    Sugar Beekeeper
    • Wedding: February 2014

    Nope, and I would never.

    Post # 70
    Member
    43 posts
    Newbee
    • Wedding: May 2014

    Wow. People be crazy on this thread. It’s a personal choice at what to charge, Suze Orman Bees Laughing 

    We’re not going into debt but only because there’s already non-collateral debt to be hacked away at. Still making dumb credit card payments AND saving for the wedding. BOOYA!! (:: struts away like a boss ::)

    Post # 71
    Member
    342 posts
    Helper bee
    • Wedding: August 2013

    @freshflowers:  My husband I did not go into debt for our wedding. We were able to save up $20,000 for our beautiful wedding, but we passed up on a honeymoon. We figure we would save up for a honeymoon for our 1 year anniversary.  

    I think going into debt about 5k is reasonable for a wedding. Just save up the best you can, but don’t go in debt for something you really can’t afford. 

    Post # 72
    Member
    4029 posts
    Honey bee

    @FleeSircus:  I think the reality is that the economy has tanked and what was once considered a “wise” investment in education is now being questioned. At one point, going to a top educational institution (and thus paying more) was considered a good choice and could result in better job prospects. Now, it was never garaunteed, but there was a pretty positive correlation for a while. Given the economy tanked, EVERYONE is struggling more to find a job and obviously having a more expensive degree makes the situation feel worse.

    That said, an educational investment is very different from spending money on a wedding. Sure, you can save money by going to a different school, but you can also save money by going to the court house. I would always encourage someone to keep finances in mind when deciding on what school to attend, but I will say that investing in your education will provide a better return than going into debt (if you are not be able to afford it) over a wedding. 

    FWIW, I went to a very overpriced top liberal arts college for undergrad ($55,000 per year). I fortunately got 90% covered through scholarships. But I have friends who graduated with anywhere between $50k and $150k in loans for undergrad. Personally, I would never pay that much for my degree, but some choose to. Just like some people choose to spend $50k on a wedding. If you can afford it (as in pay off in a timely, responsible manner), go for it. That goes for both education and other materials costs (i.e., weddings).

    Post # 73
    Member
    13679 posts
    Honey Beekeeper
    • Wedding: November 1999

    No, we would have skipped the honeymoon or wedding if we couldn’t afford it.  We were fortunate to have a lot of support from our parents in paying for the wedding.

    Post # 74
    Member
    11520 posts
    Sugar Beekeeper
    • Wedding: May 2014

    @freshflowers:  sort of.  We have debt now, we’re just not paying it off until after the wedding.  If we weren’t having the wedding we’d pay off the debt.  It might not be the most responsible choice, but it’s a decision we made together, and we don’t want to wait and we’re having the wedding we want (and can afford…sort of).  We wont’ be farther behind after the wedding.

    Post # 75
    Member
    1344 posts
    Bumble bee
    • Wedding: October 2013 - Vine Street Church

    Absolutely not. We paid for everything by bits and pieces and therefore had the entire wedding paid in cash by wedding day and have all of our lodging and travel paid for on our two-week-long Nordic honeymoon (we leave in 19 days, eeeee!!).

    Post # 76
    Member
    1461 posts
    Bumble bee
    • Wedding: May 2014

    We had not intended on doing so, but my Fiance lost TWO jobs during the time we were engaged.

    Life happens, so we are going to have to put about $3000 on the credit card that we had expected him to earn during the time we were engaged. We are going to make payments for a few months then pay off the remaining balance when we get our tax return.

     

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