The best way to determine if a wedding loan is right for you is to take the time to learn about wedding finance and all the options available. Reading up on the pros and cons of loans for wedding expenses is a great way to start.
In the U.S., the average cost of a wedding for 2021 is between $22,000 and $25,000. If you’re a planner, you may be one of the few who’s been saving for this major life event for years – but many are not so well-situated. If you’re one who doesn’t have healthy savings account earmarked for this purpose, you may be considering a wedding loan. When you’re considering financing your wedding, you are probably asking “are wedding loans worth it”?
I’ll answer that question in full detail below. Before I do, I think it’s important to define wedding loans first.