(Closed) Small Wedding Loan?

posted 6 years ago in Money
Post # 3
Member
2822 posts
Sugar bee
  • Wedding: December 2012

I wouldn’t take out a loan for a wedding. How about scaling down and doing something cheaper that you can afford without a loan? That way you don’t start your marriage off in debt.

Post # 4
Member
870 posts
Busy bee
  • Wedding: September 2012

I don’t think you’ll need 7,000 dollars to have a simple ceremony and reception. Just trim your guestlist, and see if you can do it at a park, or a friend’s nice home and do a champagne and cake reception.

I’m really not for taking out a loan for something like a wedding.

Post # 5
Member
1750 posts
Buzzing bee

@ckbeaumont:  7k is a lot for you to be fresh out of school and no job. Could you make it happen for 3k?

Post # 6
Member
286 posts
Helper bee

i agree, NO LOAN. if you HAVE to get married, do the minimal. it’ll still be sweet & at the end of the day its just about you and hiim.

Post # 8
Member
286 posts
Helper bee

@ckbeaumont:  a lot of my family were complaining about it being outside but what it comes down to is that its MY wedding & i already pictured an outside wedding. i can’t wait to WOW them.

Post # 10
Member
286 posts
Helper bee

@ckbeaumont:  well the dress is where you could cut down on… & maybe the guest list?

Post # 12
Member
2440 posts
Buzzing bee
  • Wedding: March 2012

I know I’m going to be in the minority here but I say go for it.  We ended up taking out a small loan for our wedding and I couldn’t be happier.  We had already paid a year of it off before the wedding even happened and it will only be another year until it’s completely paid off.  I loved my wedding, I’m happy I didn’t compromise on the food or venue or anything because we didn’t have the money up front.  I think I would have regretted it years from now that I didn’t get the traditional wedding that I wanted.  I also know I’m going to get alot of disagreement from people about this but it’s just how I feel.

Post # 13
Member
1676 posts
Bumble bee
  • Wedding: June 2011

I would never get a loan for something like a wedding. I firmly believe this is something you would regret in the future. I had a courthouse ceremony, and I am so thankful I did. Our families tried to pressure us into something more, but my Darling Husband and I didn’t budge. This was the best decision we could have made. I’m not saying you should have a courthouse ceremony, although I think it is an excellent idea for someone in your situation.

I know it is hard to accept you may not be able to have the wedding you really want due to financial reasons, but accepting the hard truth and making the most responsible decision is part of being mature and ready for marriage (I don’t mean that to sound cruel or harsh, just honest).  No matter what you do, I strongly, strongly advise you stick within the budget you can have without financing. Money is one of the main things married couples fight about, and wedding debt is an excellent way to kickstart these fights early on in the marriage. 

Post # 14
Member
389 posts
Helper bee

You don’t mention how many folks you are having.  $7,000, I find is quite reasonable for a wedding and taking out a low interest loan is not a bad idea.  You deserve the wedding of your dreams, even if simple.

I think that you will get $$ from your guests and family on the wedding day.  Whatever you get, pay back immediately to the bank/lender so that you are not overwhelmed with debts.  So, if you get about $3,000, then your debt will only be $4,000.  I am assuming you both will be working over the next year, so that when you do your taxes, your rebate can go to finishing up the loan. Do get a bank loan at a lower percentage rate and stay away from cash advances/loans from your credit cards.   Don’t charge anything you can’t pay for right away either, so that you won’t drive yourself crazy budgeting.

[self promotion removed]

Post # 15
Member
963 posts
Busy bee
  • Wedding: June 2012

You’ll be just as married if you got to city hall in jeans and a t-shirt.  Not that you have to do that, but I think starting your life together with that kind of debt is a HUGE mistake.  Money issues are the leading cause for divorce, so why start your marriage with that strike against you?  I’m sure you could find a dress you love just as much, for less.  I found mine for $400, and dresses I didn’t like as much cost over 3x as much.

Post # 16
Member
1676 posts
Bumble bee
  • Wedding: June 2011

@LiseRamosMorales:  I think that you will get $$ from your guests and family on the wedding day…


She can’t bank on this. Many brides here have gotten a large amount of money from guests, but many others have not. Many of the brides who got very little expected to receive more and were very disappointed. You cannot predict the amount you will receive in gifts. Who knows, only a few people could give a gift at all, or they could all give physical, non-returnable items. This would be seriously risky business. 

The topic ‘Small Wedding Loan?’ is closed to new replies.

Find Amazing Vendors