Have you meet the one for you? Are you set to make the definitive commitment? Probably your answer is yes. Nevertheless, there is just a single deal breaker-if you think it is your partner you are wrong! It is the costs of the wedding, or rather getting married. A study by the Knot in the year 2017 established that the average can cost $33, 391. This is very costly and as a result, many couples postpone their nuptials. In fact, the same report indicated that at least 52% of couples have actually delayed their weddings because of financial concerns. Another survey including 1000 people who intend to get married within 1q2 moths indicated that 74% are taking loans to finance their wedding.

The Challenge

The fact is, people, desire their wedding day to be as memorable as possible, marking the starting of something significant. A nice environment and fantastic food play a significant role in establishing the mood. Such occasions become memorable when shared with a network of friends as well as the family. This is what makes a wedding expensive. If you do not have what it takes to make the party you actually want, you may opt for a loan. But does it make sense? As outlined earlier, many people apply for wedding loans, though it is a very risky move. You do well to edify yourself before you choose to go down that route.

It would be senseless to give you suggestion before giving you a good piece of advice: kindly do not take a loan to finance your wedding. Why? Remember you need to start off on a higher note with your mate, and setting the journey with debt cannot be helpful. A number of studies have shown that financial difficulties are the main drivers of stress in marriages and other relationships. Would you like to put yourself and your mate in a difficult situation? Will, it is not wonderful to kick-start your marriage by developing your future together? Look at various suggestion on Bugis Credit

You can save for a home or children’s education. You also need to put your golden years in the picture. A monthly payment on a loan might appear insignificant, but when the same amount is saved, it may be too much. Think of it in your own way: if you do not have funds right now, what will be the difference right after the wedding? Let us look at some basic suggestions that can be helpful then.

Basic Tips

•    If borrowing is the best option, do it wisely. Most loans are just personal loans even though they may be marketed differently. This implies that you will not be required to attach collateral to the loan. Your credit score along with income play significant roles in determining whether you qualify for a wedding loan or not. And so before you think of applying, analyze your credit score and remove errors that are likely to deny you a great deal. And just in case you do not qualify, your future wife can help by co-signing the loan. By so doing the two of you will be fully responsible for repayment, and if you default, you will all have bad credit in the end. Also, it is important to note that there different types of wedding loans with different features. The ones with better terms should at least have the following characteristics:

a)    It should be unsecured, that is, it does not require security

b)    It should be short term

c)    It should have a fixed rated)    It should be an installment loan.

•    Know the best place to borrow. If you have identified the best type of loan, you must know the right place to borrow, different lenders have different rates with different terms. You can be sure of best rates if you choose to loan from a bank, an online lender or credit union. In addition, you may also consider peer to peer lenders as they often provide short term loans with relatively lower rates. As you try many alternatives, avoid credit cards as they can be quite risky for financing your wedding. In case you have a good credit score and you intend to settle your debt within a year or less, a 0% interest convenience check may as well be a good option.

•    Budget well and Save. When is your wedding date? You have time to save some money unless it is set to be next month. If you can afford something, just pay for it yourself and this habit can help even in the years to come. Start establishing your life together prior to your wedding and it will work out well for the two of you.

•    Instead solely depending on a personal loan, turn to family and friends for help. Family members and friends can provide different things such as time, skills and other necessary materials to facilitate your wedding if not financial help. Someone could be having a wonderful property set aside for you while another one could a chef gifted with the potential to serve a large number of people. Besides, a friend could be a good photographer. In the end, you will not have to spend on such services and this will significantly lessen the costs.

•    Defer costs. For example, you may not be able to afford an expensive ring at the moment. Begin with what you can practically manage now and then you can upgrade when you’re financially better off, or perhaps in the coming wedding anniversary.

•    Cut back.  This involves some very critical decisions. Since funding is the main issue here, consider inviting fewer people, or simply make the whole even modest. You know people will always remember and cherish the feelings they had on that day rather than specifics.

•    Avoid getting distracted. Do not allow wedding inspirations from various sources such as magazines to plan something that is far much beyond your financial ability. Focusing on what others are doing and trying to make your wedding the perfect one will only turn you into a miserable person.


Are contemplating wedding? Wedding loan is not the best way of financing your day. Be creative enough to get other ways of making the day successful. But if the loan is the only way out, be very careful and weigh all the available options. 

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