(Closed) Your Wedding Debt. Will it be huge? Or next to nothing? You can be anonymous!

posted 6 years ago in Money
  • poll: What are you borrowing for your big day?
    Nothing. We're using savings. : (261 votes)
    56 %
    Nothing. Parents/inlaws/other are paying. : (113 votes)
    24 %
    Up to 5k : (43 votes)
    9 %
    6-10k : (24 votes)
    5 %
    11-15k : (14 votes)
    3 %
    16-20k : (4 votes)
    1 %
    21-25k : (3 votes)
    1 %
    26-30k : (1 votes)
    0 %
    31-35k : (2 votes)
    0 %
  • Post # 3
    Member
    10288 posts
    Sugar Beekeeper
    • Wedding: October 2011

    Financing a wedding is never a good idea, imo. Then again, we don’t believe in unnecessary debt. Our wedding was paid for by various sources but it was all cash.

    Post # 4
    Member
    891 posts
    Busy bee
    • Wedding: August 2013

    @UpstateCait:  My financial advisor gave me that advice for a few years ago and been sticking to it ever since to pay everything in cash and not with credit card which has worked awesome so far.  No wedding debts =A nice fresh start to the life as newly weds 🙂 

    Our wedding will be financed in cash and goodwill by ourselves and our families since they so kindly offered themselves. That was not always the case that I was fond of that idea, but I have warmed up to it. I always pictured us paying  (me and FI) for the wedding, but since family wanted to contribute we consider it a blessing. 

    Post # 5
    Member
    12954 posts
    Honey Beekeeper
    • Wedding: November 1999

    I have a high budget (substantially higher than that so-called “national average”), but absolutely none of it will be financed.  My parents saved really well so they would be able to contribute a large amount of money towards the wedding, and my Fiance and I have agreed to contribute more of our own money on top of that if needed.  It’s a bad idea to pay for a wedding with loans or financing; at that point, you should be cutting back on what you want. 

    Post # 6
    Member
    891 posts
    Busy bee
    • Wedding: August 2013

    @abbie017:  Totally agree!

     

    I know there was one post for a while ago that was overspending her budget and went behind FI’s back doing it. He called off the wedding. 

    Post # 7
    Member
    10714 posts
    Sugar Beekeeper
    • Wedding: June 2012

    I don’t know how my grandparents are paying for this last $8K we owe… I have a feeling they took out a loan or are taking one out soon. So theres debt but not ours as a couple… we’d never qualify for a loan that big at this point. They might be paying for it a month at a time but they just said it’ll be taken care of they haven’t told me how. Seeing as how the wedding is less than 4 months away I doubt it’s all out of pocket or savings.

    Now we do have debt for the rings which started at $5K but weve paid down to just under $4K in the last few months. This one doesn’t bother us at all.

    Post # 8
    Member
    6344 posts
    Bee Keeper
    • Wedding: August 2014

    I voted ‘parents are aying’ as they’re paying for the bulk of it, though we’re paying for a few bits (hotel room; most of the honeymoon; rings; string quartet; bridesmaid’s dresses and OHs suit; my accessories and lingerie). The bits we’re paying for we’ll pay for outright, apart from the rings which we plan to get on an interest-free credit plan.

    Post # 9
    Member
    2239 posts
    Buzzing bee
    • Wedding: May 2011

    We don’t have any wedding debt. We paid for about 10k of our 13000 wedding by ourselves over two and a half years. This was with only one of us working full time (at a job that really didn’t pay much) and the other going to school and not working at all. We still managed to pay our regular bills and come up with the wedding money little by little! I would never suggest going into debt for a wedding, but if that’s what you want to do, I’m also not going to be an asshole. We cut back to afford our wedding by having a smaller guest list, a cash bar (taboo, I know!), cutting videography, and doing lots of DIY projects. We didn’t spend a bajillion dollars, but our wedding was still in the knot magazine and featured on a blog!

    Post # 10
    Member
    1346 posts
    Bumble bee
    • Wedding: November 2012

    We’re both paying through savings & ourparents paying. There is just no way I could get a loan to get married, there are soooo many other things in life that are more important than an huge wedding that leaves you crippled financial for years. Plus this way we are able to start thinking about babies quicker 😀

    Post # 11
    Member
    5423 posts
    Bee Keeper
    • Wedding: November 2012

    My wedding will be somewhere around 10-15k, with honeymoon.  All Cash.

    Post # 12
    Member
    2651 posts
    Sugar bee
    • Wedding: May 2016

    We’re puttin in aprox.. 500 bucks a month until our wedding day. Anything that falls outside that  we don’t need it.  I have enough debt as it is.. Bi don’t need anymore lol

    Post # 13
    Member
    238 posts
    Helper bee
    • Wedding: August 2012

    We plan on paying everything in cash. However, that being said, if we end up a little short we will do what we have to do.  If that means taking out a small loan or line of credit, it’s okay.  I knowit woNt take us long to pay it off. 

    Post # 14
    Member
    8884 posts
    Buzzing Beekeeper

    I’m truly blessed that my parents are paying for almost everything.

    Post # 15
    Member
    3314 posts
    Sugar bee
    • Wedding: October 2010

    My parents gave us the money for the entire thing!  We did not want to start out our marriage in debt, so we were very careful to shop for the best deals we could get.

    Post # 16
    Member
    481 posts
    Helper bee
    • Wedding: August 2012

    We are very fortunate that both of our parents are gifting us very generous amounts of money towards the wedding, which will pay for most (if not all) of the wedding. We are so grateful since, without this assistance, we definitely would have had to go into debt or continue to wait to get married as we are both students and have no savings and only grad student income (which is next to nothing!)

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