Looking to Finance Your Wedding? Here's What You Need to Know

你的婚礼将是没有做的ubt (and regardless of who is paying) the most expensive day of your life. If yourpersonal budgetand wedding visions just aren’t working out, you might consider looking elsewhere for help to fund your wedding. Iffinancing the big dayis a decision you’re likely to make, here’s what you need to know.

Is It Right for You?

There are many opinions out there regarding personal loans, specifically for weddings. Many would argue that it’s not worth going into debt for a 24-hour period, while others counter that it’s a once in a lifetime experience.

If you don’t have many other outstanding debts and can find and obtain a loan with agreeable and affordable terms, you’re in a much better place than someone seeking to finance a wedding that already has quite a bit of debt. If you are determined to plan a wedding beyond your budget and are prepared to come back from your honeymoon in a little (or a lot) of debt, then taking out a loan may be an option for you. If it makes you uncomfortable in the slightest, it’s probably not the best move.

Type of Loan

Generally speaking, any formal cash loan for a wedding (aside from borrowing money from family or elsewhere) will be considered a personal loan in the eyes of the bank or certified lender. Most well-known banks, as well as online lenders, have preset rates for personal loans of all types, with the average personal loan interest hovering at around 10% for those with great credit. Many loan-seekers consider taking out personal loans from banks where they are already loyal customers for convenience and to streamline their financial obligations.只要选择您关注事实和未来的贷方和贷款时，并非销售播放的吸引力。

你需要什么

As with any loan, to get the best terms and rates you’ll have to have decent credit. The higher the score, the better off you are. You’ll also need to enter into loan-shopping with a set figure that you’re looking for, and appropriate documentation including government-issued photo identification and your social security number. Do your best not to be tempted to take more than what you need because of “great rates” or offers. Take out the minimum you need. Figure out your total budget and the amount you need to borrow beforehand, and stick to it.

Other Options

There are other financial options out there for those who are coming up a bit short in the planning and execution of their dream wedding. While all couples are encouraged to save and budget within their own comfort zones, many consider charging some wedding expenses to theircredit cards(be mindful of interest rates and credit limits, of course!) or seek payment plans with vendors and venues. Some even rely on wedding gift money to immediately pay back any money borrowed or charged, but just remember that anticipated cash gifts are never set in stone and are somewhat unpredictable.

Bottom line is, while it’s never encouraged to spend money that you don’t have, in the event of your wedding, there are financial options available for those who want or need them.