Wedding Financing Loans Made Easy

Wedding Financing Loans Made Easy

What is your greatest joy in life? Receiving your college diploma? Receiving your first pay? Getting a marriage proposal? Indeed! Receiving or giving a marriage proposal is every person’s milestone. A great moment worth celebrating until you realize the need for a wedding financing loan.

What If You Don’t Have Enough Wedding Finance Dollars?

Wedding costs can be discouraging – it is a fact. To date, people are expecting a lot when we say a wedding ceremony. Aside from the grand menu, they also expect grand photoshoots, grand location, and grand show. Of course, you can opt to have a simpler wedding. After all, it is the vows that matter!

But what if you don’t have enough wedding finance dollars even for a simple wedding ceremony?

Take a Loan to Finance Your Wedding

Wedding financing loans are also considered as personal loans. If you will take a personal loan, you can spend it any way you want including on your wedding.

A few years ago, taking out a loan for wedding expenses was a no-no. Most parents are eager to shoulder their sons’ weddings. Today, most men want to shoulder their own weddings. It is now taken as a sign of being mature and ready for married life. To have a decent wedding, some couples look for wedding financing loans.

So how can you do a wedding without money? Take a personal loan! Here are some of the types of loans for wedding expenses that you can consider.

Types of Wedding Loans

Personal loans for a wedding can be obtained easily especially if you have a good credit rating. If you are wondering what type of loan to take, here are some examples and the reasons why you should take or avoid it.

Pros and Cons of Wedding Loans: Debt Do us Part

Bank loans

If you have a good credit score, taking a bank loan for your wedding won’t be a problem. Taking a bank loan to use for a wedding is now a common scene. Why? Here are some of the advantages of taking bank loans for wedding expenses.

Advantages
  • It works best if you have a good credit score
  • Low-interest rates
  • Flexible payment terms
  • Plenty of options in terms of payment schemes and interest rates
Disadvantages
  • Getting approval can take time especially if you have a bad credit score
  • Some banks do a thorough background check before approving loans
  • It takes time for loans to get approved and reviewed

Short-Term Loans

As your wedding is a special day, you would want to give the best to your future wife. If you are in dire need of cash, there are short-term emergency loans are available. Short-term loans are wedding financing loans that you can use as an emergency fund.

You can also use it to pay for a wedding ring or dress.

Wedding Loan

Advantages
  • It is easy to avail
  • It gets approved easily
  • Payday loan creditors don’t ask for too many requirements
Disadvantages
  • Be prepared with high-interest rates
  • They don’t offer long payment terms
  • Be prepared with additional charges like processing fee

Family Loans

Asking a family for a wedding loan is easier if your family supports your decision. Give back by offering to pay your loan with interest.

A few years back, parents often spend on their daughters and sons; weddings. Today, most people want to shoulder their own wedding. Still, a family member is one of the best ways to get wedding financing loans.

Advantages
  • You can ask for the exact amount you need
  • Negotiation of terms and conditions is easy
  • You can ask for a better payment scheme like quarterly, depending on your financial capacity
  • There are no late or processing fees
Disadvantages
  • Inability to pay your wedding loan to a family member can affect relationships
  • They might ask you to pay anytime if there is no written contract

Taking Wedding Financing Loans With Bad Credit

Applying for a wedding loan with bad credit is still possible. It is a harder process but you can still find one. There are pros and cons involved though.

If you think you have bad credit, check your credit score first and find ways to improve your credit rating. There are services that can help you improve your credit score and rating review your score such Creditry.

If you want to do a debt for a wedding with bad credit, take wedding financing loans as your last resort. Though the loan might help you achieve your dream, it can affect your future. Wedding loans with bad credit means higher interest rates and steeper payment terms.

Wedding Loans for Bad Credit Explained

Using Your Credit Card to Finance Your Wedding?

The good thing about a credit card is like having a pre-approved bank loan. If you really need to purchase something for the wedding, your credit card can save you. Instead of taking loans for wedding expenses, why not swipe that card?

Here are some tips to maximize your credit card for your wedding expenses.

Spend only on what you need

With your credit card, you can only buy necessities. It includes wedding rings, wedding shoes, wedding dress, or for booking your honeymoon. Since you have a credit limit, you should only use it when necessary.

Check for promotions

There are a lot of credit card promotions that you can take advantage of while preparing for your wedding.

Finding company-tiered promotions

Company or service tiered promotions are services or products offered at a discounted price if you will use a specific credit card. If you are lucky, you might be able to find a wedding planner service provider that is tied up with your bank.

Rebates

Take advantage of rebates. Some credit cards give big rebates, depending on the amount you spent for a particular period. Rebates are good as cash so if you will earn thousands of rebates, you can expect to get some free vouchers or gift checks from your bank.

Installment

If you are going to purchase a wedding ring, shoes, or dress, look for stores that offer 0% installment. This will make your wedding expenses lighter.

Always check the price first

If you are lucky, you can purchase with your credit card and pay it on an installment plan. If the installment is not available for your card, you have to pay it the following month. For this reason, you have to be very careful when purchasing with your credit card.

Request for a credit consolidation

One way to maximize the benefit of your credit card is to have your debt consolidated. It means that you can consolidate your total bill and have to pay it on installment. Some credit card companies offer a low-interest rate for card consolidation. Before using your card, check if this offer is available for you.

If credit card consolidation is not available and you have an extra card, check if you can do a balance transfer. Balance transfer means your other credit card company will pay for your current balance for a minimal fee. The balance transfer will be paid in installment as well.

Is it Possible to Avoid Wedding Loans?

https://www.loanry.com/blog/7-smart-tips-to-avoid-a-wedding-loan/

To be honest, weddings are getting more and more expensive today. Even with savings and help from family and friends, marrying couples still find themselves looking for additional wedding financing loans. However, if you want to avoid taking out a wedding loan, you can do these steps.

It might not totally keep you from taking a loan. Still, it can help you minimize the amount you need to borrow.

Make Plans and do Your Maths

When making wedding plans, you need to start with where, when, what, and how many guests to have. When planning, it is best to write it down, along with possible prices.

Where to?

Are you planning to have a beach wedding? A church wedding? How much would it cost to pay for a church wedding?

Where will your guests stay at the wedding? Where will the reception be?

When?

Is there a certain time of the year when the wedding gets cheaper? Actually none. The “when” that you have to answer is ‘when do you expect to have a budget?’ Are you expecting bonuses? Do you have savings that you can use? Do you have families that can help at a particular time?

The answer to ‘when’ must be the time when you are financially capable. If not, then it should be the time when you are able to find a wedding finance scheme to use.

What?

The answer to what is your motif. It includes what to wear, food, decors, invitation designs, and even souvenir theme. Make a list of these. Put an estimated cost for each item.

Check which item can be crossed out. Check if you can find cheaper alternatives.

Number of Guests

Save on food by sending an RSVP invite. This way, you won’t be ordering more than enough.

With RSVP invitation, you can also get the exact number of people coming to your wedding.

Plan Together!

If you are having issues with your budget, you should talk as couples. If you need to take loans for wedding expenses or need to use credit cards, tell each other. Do not use your credit card and suffer the consequences on your own.

Respect each other’s opinions. Make suggestions and accept ones. Compare your ideas.

Prepare a Checklist

During wedding preparation, always carry a checklist with you. What you need, your guests’ need, your expenses, and budget. Stick with your plan and budget. Avoid going over. Make sure you have everything on your checklist even small details like flower arrangements, the bouquet, among others.

Use Your Friends to Cut Costs

Do you have talented friends? Invite them, then ask for help. Do you have a photographer friend? Ask him to cover your wedding? Is your friend venturing into baking? Ask her to do your wedding cake. She would love the promotion and she might give you a big discount. If she’s a close friend, she might just bake it as a wedding gift.

Why Are Weddings Becoming More Expensive?

A wedding celebration of today is more expensive than before. Couples enjoy prenuptial pictorials and videos. Also, couples celebrate their wedding in different places. Some choose to get wed outside the country with selected friends. After a week, they will throw another celebration at home.

Why it is getting more expensive to get married today?

Location Matters!

The term destination wedding is becoming popular as more and more couples aim for it. It is exciting and it makes the ceremony lovelier. However, it causes a heavier dent on the wallet. Because of this trend, some couples need to take out a wedding loan to cover expenses.

Wedding destinations such as Rome or Paris are very popular. Some couples go to the most beautiful beaches in their town or city. It seems like the scenic view is now used as a backdrop, adding more romance to the couple’s vow.

Destination Wedding Cost

Food Matters!

Today’s weddings often include steak, baby back ribs, and wine on the menu. These are expensive food that a serving can cost more than $10 per person.

If you want to cut the cost of food, you can slim down the menu.

Make it simpler. Invest in taste and presentation. Get a caterer that can provide you promotions such as discounts or cashback.

Honeymoon or Post-wedding Celebration Matters!

After the wedding ceremony, you still have to pay for travel cost. You still have to go on a trip or a post-wedding celebration.

Most couples often seal this happy event with a grand vacation somewhere else. It sounds nice but it can cause real damage to your bank account. To make it cheaper, book your honeymoon ahead of time. Look for airline sales.

Finding the Right Loan for your Wedding

As you borrow, remember that you will be paying with more. Taking loans for wedding expenses means you spend more on your wedding. Since your only option is to take a personal loan, it is important to find the best wedding finance system to take.

Search and Compare

There are too many lending institutions out there. You can find local creditors that can give you a loan. You can also find them online. Don’t rush. Choose at least 3 creditors that you are confident with. It means if you will apply with them, you will get approved.

If you’re seeking for a reputable lender (which you should be doing), our partner Fiona may be able to offer you some options depending on the information you put in below.

Once you have picked a creditor, check their offers. Compare each creditor using the following:

Interest Rates

Which creditor offers the lowest interest rates? Interest rates range from 5% to 20% of the principal amount. Imagine if you are borrowing 50 grand for your wedding, how much would the interest be in a year?

Terms of Payment

Check which one offers the friendliest terms of payment. The terms of payment can be monthly, quarterly, or bi-yearly. Choose the one that is easier for you to follow.

Fees and Charges

What are their policies regarding late payments? What is their penalty rate? Anything can happen in the future. What if an emergency occurs and you are unable to pay for a month or two? Check if they offer grace periods or any options that can help you in case an emergency arises.

Convenience

This is something that couples are forgetting to check when taking out a loan for wedding costs. After the wedding, you will be busy working again. Back to the real world. Your wedding loan should not affect your daily routine. Convenience means you can:

  • Make online payments
  • View your loan on your mobile phone
  • Talk easily to their support team if you have questions

Conclusion

If you cannot totally avoid financing your wedding, don’t fret. It is okay to take it and give your partner the best she deserves on her wedding day. You can now apply for wedding financing loans that made easy. All you have to do is search for one.

Your best bet? Take enough wedding loans. Do not take more than what need. If you have cash, pay with cash. If you have a credit card with good standing, use it. When taking a loan, there will always be interest to pay. Look for a loan that offers the least interest.

Still, if you know how to manage your finances, you can easily pay off a wedding loan.

Taking loans for wedding expenses can make your wedding budget easier to manage. Make sure that the cost of your loan is worth it by having the best wedding for your partner. In addition, make sure that it is worth it by honoring your vows on your wedding day.

Borrow Money for Wedding: Tie the Knot?

Borrow Money for Wedding

Once upon a time in a land far, far away, the bride’s parents actually paid for weddings. Of course, there was a time when the groom would also get paid a dowry for marrying the bride. I do not know about you, but I think I would always wonder if that is the only reason my husband married me. But I digress…

In our current wonderful world, those things are not as common. Some cultures still follow those customs but not all, and those that do not have to find new ways to take care of wedding expenses. One such way is to borrow money for wedding costs, though debt may take a little luster out of the marriage light.

Wedding Finance – Is It a Thing?

If you have never known anyone to go borrow money for a wedding, the following statistic will probably shock you: A survey taken of 1,000 people preparing for a wedding in the next year shows that 74% of them will go into debt over their nuptials. Here is another fact that knocked the breath out of me for a moment: the average spent on wedding costs is over $30,000. Oh dear, that is a large amount. Actually, that is the cost of a brand new car and a few dozen houses I have seen for sale. So, to answer the question, yes, it is common for people to borrow money for wedding costs.

You may wonder why couples would take out loans for wedding expenses, especially for costs that high. Some of them simply want a nice and memorable wedding. Some just think that is how it is supposed to be. Others feel the need to compete with other people. There is one other group- those that are pressured by their families to do things a certain way.

Politely Decline

If you fall into the pressured group, and you do not know what to say, repeat after me: “That is a great idea and I thank you for your opinion. However, husband (or wife- insert name here) and I have decided to keep our wedding costs down so that we can buy a house and start a family soon.” They should respect that, and if they really want what they are suggesting, they will likely find a way to pay for it. Do not let other people’s opinions land you in debt if what they are suggesting is not important to you. You can respectfully decline. If it gets too bad, you can always elope. It is not about being rude- it is about protecting yourself and your future spouse from financial problems.

Ways to Borrow Money for Wedding Costs:

Fortunately, borrowing money does not necessarily mean you need to go straight to the bank. When it comes to loans, there are different kinds to choose from. You may find that you need to put a few of these options together in order to cover your wedding expenses.

Family and Friends

You may have some people close to you that are willing to loan you some money with little or no interest added. You may even find that they are willing to give you part of the money you need as a wedding present.

Credit Cards

If you have a credit card, you may be able to pay for at least some of your wedding with credit you have available on it. While this is a simple option, it is not always the best. Interest is usually compounded on credit cards, so it can take a long time to pay back the principle and interest. If, however, your credit card has a sweet deal like 0% interest for the first year, it might be the best option.

Payday Loans and Title Loans

While these are options, avoid them as much as possible. They come with ridiculously high interest rates and most borrowers find themselves in a cycle they cannot get out of. I can say from personal experience that these types of loans may be very convenient and not require credit checks, but those perks do not come for free. They can very quickly turn into a trap charging high interest rates that one can barely afford. In fact, the Center for Responsible Lending reported that in the last decade, payday loan borrowers have paid more than double in interest the amount they actually borrowed.

In a desperate time, I borrowed money against the title to my SUV. I only borrowed about $1,300, but the interest on that was over $400 per month. In a measly three months, I had paid almost as much in interest as I had borrowed in the first place. It took over a year to finally pay it off because I could barely pay over the interest. Payday loans can be just as bad. Unless you are in dire straights, try to stay away from these loans types.

Short Term Loans

These are not the greatest option either. They often require you to pay them back in very short periods, often around a month. They also charge pretty high interest, so unless you have a big bonus coming in soon, you will likely have a hard time paying short term loans off.

If you want to take out a loan for your wedding, make sure you do so with a credible lender. We partnered up with Fiona to bring you reputable lender choices you may qualify for depending on the information you put in below.

Personal Lines of Credit

If your credit is okay or you at least have a pretty good history with your bank, they may approve you for a personal line of credit. If you get approved for $4,000 but only need $1,000, the other $3,000 will remain available to you through your account. You can borrow the money as often as you need as long as it is within your approved total. These can be great if you can get approved because they are convenient and often charge low interest rates.

Personal Installment Loans

If I have to borrow money from a financial institution, I want it to be either a personal line of credit or a personal installment loan. Both are much easier to pay off due to the interest rates and repayment terms. Many personal installment loans offer fixed interest rates on your loan. This is wonderful because it is factored in at the beginning of the loan and you simply pay the set payment each month. Also, they have longer repayment terms thank short term loans, payday loans, title loans, and credit cards. Even those that compound interest monthly are generally easier to pay off than the others because the interest rate is lower.

Is It a Good Move?

Let’s start by being clear- this is debt we are referring to. If you borrow money for wedding costs, you are putting yourself into debt. In my humble opinion, debt is never good, but that is simply because you then owe someone and there is usually interest added. However, I am also aware that borrowing money, including loans for wedding expenses, can be beneficial.

Paying for Things You Would Otherwise Have to Wait For

I am not talking about a pair of shoes here, though you can use a loan for those if you would like. I am referring to paying for homes, vehicles, travel, college, and wedding costs. What if your car broke down and you desperately needed another one but did not have the money to pay for it at the moment? If loans did not exist, you would be stuck walking or hitching a ride everywhere. If mortgage loans did not exist, many people would not have homes.

Building Credit

Oddly enough, to get credit you need to have credit. Even better, you need to have recent credit to have a better chance at getting credit. It seems you cannot exist without credit these days. I know someone personally who, along with his wife, decided to stop using credit. They had the goal of buying a house and decided that they would save the cash and pay for it outright. They both worked hard and scraped by on as little as they could to save up $50,000 for a home.

When they located a house they wanted to buy, they tried to hand the cash to the real estate agent. She explained to them that, for some reason I will never understand, they could not buy it with cash. They would have to put the down payment down, then get a mortgage for the remainder. That was the day we all realized that credit was necessary to survive in our current age.

Unfortunately, if you have no credit, you will have a hard time getting credit when you want to make a large purchase, like a house. If you borrow money for wedding finance needs, however, and you pay it back diligently, you can build your credit.

Loans are Really Neither Good or Bad

Loans do have their perks and their place. Whether or not they are a good idea depends on your willingness and ability to repay a loan as well as how important the item you are trying to pay for is to you. It comes down to personal choice and what you and your fiancé decide.

What Wedding Expenses Could I Borrow Money For?

Loans for wedding expenses can actually be used for any wedding expense like a ring. These wedding loans are simply personal loans that you borrow for wedding costs. Some may borrow money for wedding rings, borrow money for wedding dresses, get loans for the venue or the caterer, or even use the loans for their honeymoon. If you are having a destination wedding you may want to pay for your grandma’s ticket with the loan, or the hotel for your maid of honor. You can use it to pay the florist, a DJ, a band, photographers, videographers, and for the wedding license itself. Any item you have on your wedding wish list can be paid for with the money you borrow for wedding expenses.

How Can I Avoid Having to Borrow Money for Wedding Finance Costs?

https://www.loanry.com/blog/7-smart-tips-to-avoid-a-wedding-loan/

You may not want to even think about getting loans for wedding finance, and that is totally fine. There are plenty of ways to avoid getting a loan without sacrificing every part of your wedding. It simply takes some creativity, some patience, and maybe some sweat and tears. The following are some ideas to get your brain rolling:

Factor in Your Income

First, figure out how much wedding you can afford, set a budget and stick to it. If you and your fiancé decide to only spend $2,000 on your wedding, stick with it. Your wedding is a special day, but you may decide that your honeymoon, your home, or starting a family is more important.

Keep in Mind What is Most Important

During your planning, it is so important to remember that the wedding is merely a ceremony to share your union- it is not the union itself. Your relationship is what matters, not putting on a show for everyone. It does not matter if you have your wedding in jeans at the courthouse or in full regalia at the Taj Mahal, it does not change what you mean to one another.

Be Creative

One of my favorite tips for avoiding loans for wedding expenses is to be creative. Weddings do not have to be traditional. If you absolutely insist on feeding your guests, you do not have to provide caviar and lobster. Finger foods are great, barbecue is tasty, soups and breads are delicious. Seriously, talk to the ladies in your family. They may all be willing to bring a dish for the wedding. Considering the fact that catering is one of the highest wedding costs, this would save you a lot of money.

Another very high wedding cost is the venue, but there really are so many creative and much more budget-friendly options. Outdoor weddings are gorgeous and they provide some great pictures thanks to the natural light. Some people have barn weddings and seem to have a blast. If you attend a church, they likely have a reception hall. Or, if you know someone with a beautiful winding staircase in their home, ask to use it as your venue.

Earn Some More Cash

If you currently work somewhere that will allow you to work extra shifts, pick some up. Be a server at a restaurant or bar a couple of days a week. Do some transcription work from home a few hours a week. Babysit, clean houses, or pet sit. Pizza delivery is an option, as is magazine, bulletin and even phone book delivery. Side gigs are a great way to save some extra cash.

For one time money makers, you can organize a yard sale, sell your old cell phones for cash, sell your name brand clothing to places like ThredUp, or recycle cans. There are apps on your phone that will pay you in gift cards when you hit certain marks. There are also many that will reward you for taking pictures of your receipts. They get research, you get some cash. Do not forget things like yard work and car washes.

Cut Other Wedding Expenses

There are so many fun ways to cut your wedding expenses. Your dress, for instance, can be handmade either by you or a seamstress in your family. You and your girlfriends can have a glass of wine while putting together floral arrangements or centerpieces for the tables. Let your best friend or someone from cosmetology school do your hair and makeup.

What Is the Best Choice?

You have multiple options for wedding costs, but they basically fall into two categories: pay cash or borrow money for wedding expenses. Paying cash often requires cutting expenses and saving. It may also require pushing your wedding date farther off. On the bright side, you will not owe anyone or anything once you’re married.

Conclusion

If you are still trying to decide if you need or want to borrow money for wedding costs, think it through carefully. It is never a good idea to make rash decisions when it comes to finances. Weigh out the pros and cons of wedding loans, and decide if a loan will help you or hurt you more. If you are interested but want to shop around a little before deciding, online loan shopping is a great way to collect information. Additionally, we here at Loanry can help you find a lender that fits your needs.

Wedding Loan Lenders Search: Loans 411

Wedding Loan Lenders Search

Weddings are such an important and memorable time in our lives. They also can be one of the most expensive. Few people save money just for a wedding. When the time comes, they often do not have the money to pay for it. Not only that, but the expenses add up quickly. It is easy to get caught up in wanting to have everything at your wedding. Most people want to invite all the people they know to one of the happiest days of their lives. But, that comes with a cost, literally. Do not lose hope. There are ways to pay for a wedding. Using a wedding loan lender search may be a helpful way to search wedding finance options. There are many things to keep in mind when planning your big day. Keep reading for other ways to pay for your wedding.

Can I Get A Loan To Pay For My Wedding?

There are many expenses associated with paying for a wedding. It starts with paying for the wedding rings. Often people mistakenly associate the depth of love with the size of the diamond in a wedding ring. Do not get caught up in the pressure to buy a huge ring that is more than you can afford. There are several ways to pay for a wedding ring.

You can use an existing credit card to pay for the ring. If you have a credit card that gives you no interest charges, that is a great option. You can purchase the ring today and pay it off over time without any additional interest. Keep in mind that you have to pay for the ring in full by the end of the interest free period. If you do not, interest accrues from the date of purchase. Do not get caught paying all that interest. Often, jewelry stores offer special promotions. They may offer discounts or special in store credit. Do your research and find a store that gives you the best offer. This could save you a lot of money.

How can you pay for it?

Even though many are waiting until a little later in life to get married, paying for it is challenging. How do you pay for a reasonable wedding when you have no money? This may be the time when you have to make hard choices. You have to decide what is most important to have for your wedding. You should make a list of all the things you want. Decide which of those items are absolute must haves. Of the items that are left, decide which of those you do not feel strongly about. Put them in a separate column and consider removing them from your wedding plans. This could save a significant amount of money, when you are already strapped for cash.

Once you have made all the decisions about must haves, now is the time to figure out how to pay for your wedding. It is possible to get loans for wedding expenses. A wedding loan is a personal loan, that does not require collateral. It is considered unsecured. A wedding loan guarantees that you have a set payment amount every month for a specified period of time. These loans have interest charges, so you will pay more than the face value of the loan. There are many lenders available for personal loans. It is important that you find the right one for you. You can use a wedding loan lender search to find the best lender for your needs.

Can I Get A Wedding Loan With Bad Credit?

You have decided that you want to obtain a loan to pay for your wedding. However, you are not sure how your credit looks. The good news is you can get a wedding loan if you have bad credit. There are some things you should know first. When a lender decides to give you a loan, they look at your credit score. If your credit score is below 650, that is considered bad credit.

You should know your credit score before you attempt to get a loan. Knowing your credit score helps prepare you for how to get a loan. You can also get a copy of your credit report to see if there are errors. If there are errors on your credit report, you should fix them. This can increase your credit score. This helps you get better loan terms. Before getting a loan, pay off as much debt as you can. This increases your credit score. Save as much money as you can so that decreases the amount of money you need to borrow. These things are probably easy to say, but hard to do.

A wedding loan lenders search is a quick way to see which lenders are willing to give you money. Remember, the better your credit, the easier it is to get a loan. Also, remember that getting a loan can impact your credit. If it is already questionable, this may not be the route you want to take.

Save Money!

The more money you save for the wedding, the better your chances are to get a loan. This also means less money you pay back after your wedding. The last thing you want is a lot of debt when starting a life together. If you feel that a wedding loan is a way to go, shop around to find the best one for you. Use a wedding loan lenders search to find the best lender. You can apply for a loan online and get a quick response. Online lenders often give you a response in less than a day. They deposit the money directly into your account making it super easy for you.

Before making the final decision on a wedding loan, make sure you can pay it back. Not being able to pay back a loan puts you in a terrible position. It causes your credit score to decrease, which makes life harder for you. You and your new spouse may not be able to get a house, apartment, or car. That is not a good start to a marriage. If you default on your loan, you may have collections after you. Be sure that you can handle the terms of the loan before signing any contracts.

Should I Get A Loan To Pay For My Wedding?

Deciding to search for a wedding loan may be a hard decision. It is not one you should take lightly. Often we want other people to tell us the best thing to do. However, in this case, you are the only one who can decide.

Deciding to get married is a big decision. Deciding how to pay for it is just as big. Some couples decide that taking out a loan for one lump sum to pay for everything at one works best for them. They would rather make one set payment each month, instead of paying on credit cards or paying multiple sources. For these couples, if they have the money to make monthly payments, it works for them. They may also have the money to make larger monthly payments to pay off the loan sooner. This may be an excellent decision for them. You have to decide if this scenario works for you. You should do a wedding loan lenders search in this case.

Feel Confident!

Putting yourself further into debt is a huge decision. You should feel confident about your choice. You and your future spouse need to both be willing to take on the debt. It follows you into your marriage. If you take out a loan, you may pay it back for three to five years. There are short term loans available with shorter repayment terms. These loans tend to have a higher interest rate. Typically, you repay these types of loans in one to two payments. These are only a good idea if you have the full loan amount to pay back.

However, if you do not have the money to make monthly payments, a loan may not be the way to go. Instead of a wedding loan lenders search, it may be useful to find ways to lower the cost of the wedding. Lower the cost is possible, but you may have to be extreme in what you cut.

Can I Save Money When Paying For My Wedding?

Everything You Need to Know to Save Money on Your Wedding

No one wants to start their wedding planning by thinking of what they are going to cut. Many people have been planning the wedding of their dreams since they were little. Often people are not willing to even consider reducing the cost of their wedding. Believe it or not, there are some easy ways to have the wedding you want and save money.

Consider Your Thinking

The first place to start is your thinking. It is important to keep in mind why you are getting married. You are marrying the love of your life. This is the person with whom you are choosing to spend the rest of your life. That is what is most important. The doves, the ice sculpture and the open bar are not as important. Your love and bringing the two of you together needs to stay at the forefront of your mind. If you can make that the most important thing, it is easier to make cost cuts.

Create Your List!

Create a list of all the things you need for your wedding. Write anything down that comes to mind. Do not worry about how extravagant it may seem, just write it. Together with your future spouse, determine which of these things you actually need. This is where you can begin to cut down your list. Focus on what is important and begin slashing items. You can always have a column on things that you are not sure of their importance. If you have money left over, you can move them back into the must-have column.

Try to Reduce Cast as Often as Possible

Start with easy cost reductions. You can reduce the cost of your cake by keeping it simple. Staying with a simple design keeps the cost down. Make sure the cake slices are thinner so the cake goes a lot further. You can display a small tiered cake but serve your guests a sheet cake. The sheet cake is kept in the back and the guests never know.

Your dress is another area where you can find major cost savings. You can borrow a dress from someone you know. You can buy a vintage dress from a second hand, or consignment, shop. You could also buy a leftover dress from last season. Sometimes, you can even find a dress that is not ‘perfect’. There may be a slight imperfection in the dress that no one can see. Dress shops, however, will not sell a dress like this for full price.

Think Outside the Box!

One of the largest costs of a wedding is the venue. If you are willing to get creative and think outside the box with the location of your wedding, you can save money. Consider using a friend or relative’s home, especially if they have a large space. Also, consider having your wedding at an off time. Fall and summer are popular times to have a wedding, so stay away from those times of the year. Maybe a winter wedding might be a good idea. Saturday is the most popular day to get married. It is also the most expensive. Choosing to get married on a Friday night can cut your cost considerably. If you decide on a Friday night, you should give your guest advanced warning so they can make all arrangements to be there.

Even if you know you are going to search for a loan for your wedding expenses, you should cut them as much as possible. Decreasing the cost of your wedding means less money for you to borrow. This means less money for you to pay back. Use a wedding loan lenders search to find the best lender for you.

Be Sure to Make the Difference Between What You Want and What You Need

Loanry Wedding Budget WorkSheet
CLICK IMAGE: Loanry Wedding Budget WorkSheet

When it comes to planning your wedding, it is easy to get caught up in what you think you need. There is a huge gap between what you think you need and what you really need. It may be helpful for you to talk to people that you know who recently got married. They can give you insight into what they did that was not needed. They can also tell you what they did that mean the most to them. This may help you decide what to keep and what to remove. Creating a budget and saving as much money as you can is the key to your wedding day. You do not want to start your married life burdened with bills. Money is one of the major things couples fight over. Do not set yourself up for that before you are married.

There is no right or wrong answer when it comes to your wedding plans. You should do what makes you and your future spouse happy. Do not do what makes other people happy, unless they are paying for it. When considering a loan, make sure you can pay it back. Make sure you use a wedding loan lender search to find the right lender for you. There are many lenders and loans available to you. You should find the one that fits your needs and your budget. A wedding loan lender search is a great way to find the perfect lending resource. You can also find out how large of a loan you can get and keep your wedding spending within that limit.

Conclusion

If you already know that you are not able to pay back a loan, then do not get one. Lenders are serious about getting their money. They will do whatever it takes to get the money you borrowed. Do not put yourself in a worse financial position by taking out a loan that you cannot afford. Be smart about your wedding plans. This is the start of your life together. Do not put yourself in a bad position because you are not willing to cut some things out of your wedding. Maybe you need to wait another year to get married so you can save up the money you need. This way you may not need a loan. Or, you need to borrow less money. Keep in mind, a wedding loan lenders search is a great tool for finding the right loan for you, when you need one.

Your wedding should be a happy occasion. It should not be one that fills you with stress and dread. Do not let the cost of things create a dark cloud over your happiest day.

 

Wedding Payment Plan: Love and Debt

Wedding Payment Plan: Love and Debt

Wedding Payment Plan: Love and Debt

When you were a kid, did you ever hear your parents argue about money? I did. In fact, many kids have and it is not fun. Now imagine if those arguments you heard were over how much they spent on their wedding. You would think that a wedding would be the one day that both parties would be okay with spending, but that is not the case.

Debt is debt and it is stressful regardless of when it occurred. I would go into debt to pay for my kids’ colleges if I had to without batting an eye, but that does not make the bill any easier to pay. As they say, “Love don’t pay the bills.” If only it did…

Since it does not, we have to be practical or risk stress that should not be there. If you want a big, beautiful, fancy, expensive wedding, you can have one, but you need a practical approach to have it. A very smart thing to do would be to make a wedding payment plan. When you are ready to dive in, I will walk you through it.

How to Make a Wedding Budget

The first step in a wedding payment plan, or any other payment plan, is to make a budget. I know it sounds delightful, but please try to contain yourself. Most people cringe when they hear that dreaded “B” word. It is mundane and it sounds so restrictive. Here is the crazy part though: budgets actually give you freedom. I promise I am not crazy. Let me explain by giving you two separate examples.

Example 1:

Sally hates budgets. She wants to be free to spend her money as she chooses. And anyway, she knows what bills she owes, so why does she need a budget? The third week of the month, Sally is digging for change in her couch and car for gas money. Where on earth did her money go?

Example 2:

Nancy is not a fan of budgets, either, but she dutifully does one every month and follows it. You do not see her making many random purchases, and she always brings her lunch to work with her. Many people think she is just being cheap, but the truth is she sticks to her budget. All of her bills are paid on time and there is always gas money. She stops by the mall one day and sees a pair of boots she likes. She checks her budget and knows that she has put enough in her clothing fund for the last three months to buy her boots without guilt.

So What is a Budget Exactly?

Those may seem like extreme scenarios, but I have seen similar things many times. The secret to having a budget is mastering your money instead of letting it master you. You are telling your money where to go, not the other way around. Additionally, when you develop a budget and follow it, you begin to see where your money actually goes. As you become strong-willed in not moving outside of your budget, you will start to notice things that you spent a great deal of money on. For instance, you may not think you spend much on sodas at work. If you budget $10 for sodas because that is how much you think you normally spend, you might find yourself doing without multiple sodas a day.

When we are not watching our money, it disappears- it never fails. Making a wedding budget and diligently following it can make a huge difference in your life, but do not just take my word for it. Try it for yourself, even if it is just for a month or for one event- like a wedding. Test the process and see if you notice a difference.

A wedding budget is important because you set aside specific amounts for specific items. If you budget $2,000 for your dress and $200 for your shoes but find shoes that are $400, you have two choices: subtract the extra $200 from your dress fund or find a pair of shoes that fits into your budget. Your budget helps you remember what is important to you.

A way to help you stick with your budget is to pay cash for everything. Get envelopes and mark them for each item on your budget, such as “Dress”, “Venue”, and “Shoes”. Put the exact amount you have written in your budget into those envelopes. When you go shopping for any of those items, only take the envelope that is meant for that item.

How to Make the Budget

Loanry Wedding Budget WorkSheet
CLICK IMAGE: Loanry Wedding Budget WorkSheet

Are you ready to get to work? Let’s dive in.

Prep Work

  • Grab your fiancé. This is a team effort.
  • Gather your bills and check stubs or income statements.
  • Gather bank statements and any other places you may have money, i.e. investments, a CD that you can soon cash out, that type of thing.

Calculate

  • Add up your bills for a month.
  • Then add up your income and other financial sources.
  • Subtract the bills from the income.

The Results

  • If the total is over $0, congratulations. You have something to work with. If it is a negative number, you have some extra work to do- but that is okay. You can do it.
  • Is there any money left of your income to save for your wedding? If so, this is your starting point. For instance, if you are getting married in 12 months and you can save $100 per month, you will have $1200 to spend on your wedding. That total, however, is only if you keep the spending habits that you currently have.
  • Did you get a negative number? No problem. The next step can help with both scenarios. First, though, write down how much more you need to make or find to be able to save something.

Analyze

  • Regardless of if you are in the negative or simply want to save more than your current finances are allowing, it is time to play detective. Grab your bank statements and receipts. Look at your purchases. I mean really look. Most people that have no budget assume they spend much less on certain things than they actually do.
  • Categorize your purchases into necessary and unnecessary.
  • Very strategically, work your way down the unnecessary column and decide what to cut out or down.
  • Perhaps you now have $200 extra per month to save for your wedding. Maybe you could not make many changes. Whatever the case, recalculate your total that you can now save for your wedding per month and multiply the number of months you have by that number.
  • Decide if the total is enough for the two of you to spend. This will depend largely on how much you want for your wedding. If you want everything you can get at a wedding, including hula dancers, $500 is probably not going to cut it. However, if you are looking for a very simple ceremony, it might. As a team, decide if the amount you can save from your income adds up to the amount you are willing to spend. If so, congratulations! You can start planning your wedding. If you want to spend more, let’s continue.

How to Make Your Wedding Finance Plan

We are now going to make your wedding payment plan. This plan is exactly what it states: your plan for paying for your wedding. It is easier than you think. First, you need something to write all of this out on. You can use an app or spreadsheet if you like, but I find it easier to do my initial planning with paper and pencil. When it is finalized, I transfer it to a digital plan.

Everything You Need to Know to Save Money on Your Wedding

Step 1

You should now have the amount you are willing to spend on your wedding. For the sake of this exercise, I am going to use $10,000 for that total. First things first, you have to figure out the amount you need to work toward. This is very simple to determine- just subtract the amount you can save from your total. In my case, I will say I can save $1000. This leaves me with $9,000 more to come up with. Put all of this on your planning paper.

Grand Total- $10,000

Will Save-          1,000

I Still Need-        9,000

You now have your goal. There are several ways to come up with this money, but first, you might find it useful to learn ways to save on wedding expenses. It is always better to minimize costs than it is to pay more than you have to for things.

Step 2

Next, talk to your folks. They may be willing to pitch in as a wedding gift, or they may know that Grandma Jean always talked about paying for your wedding dress. Uncle James may have some tuxedos you can borrow, or your cousin may have a beautiful yard that they want to host your wedding in. If any of that is the case, write it on your plan, i.e. Mom and Dad- $1,000. Now your total is $8,000.

Step 3

Really search your brain for money you are not thinking about. Have you left money in an old savings account that you forgot about? Do you have CDs that have matured? Do you have your Aunt Louise’s antique radio in your attic that she no longer wants? How about an old, broken down car that you can sell for scrap metal or for a few hundred bucks to someone who can fix it up? I once heard a story about a man who found that he had a first edition of a very important book. It was worth a lot of money and it had been sitting on his shelf for 15 years. Think hard and look around- you never know what you will find.

Step 4

Let’s say your treasure hunt banked you $500 more bringing your total to $7,500. Consider a side gig: can you babysit on Saturdays for an extra $200 per month? Maybe your mom wants to pay you $100 a month for helping her clean out her clutter. We will say that you will be able to make another $1200 for your wedding with a side job, which brings your total to $6,300. You will, of course, have written all of these different categories on your wedding planning sheet.

Loans for Wedding Expenses

At this point, you have looked for and calculated every dime you think you can make. What do you do now? Loans for wedding expenses are an option and can be added to your wedding payment plan if you choose. In fact, some couples choose to take one out to pay for the whole wedding, then just pay the monthly payments. It may be a good idea in some cases.

For instance, suppose that the only money from the previous example I would have is the $1,000 I could save. If I had no way to come up with $9,000 more, I may choose to take out a personal installment loan for the $9,000. That $9,000 loan comes with a fixed interest rate of 10% and a five year repayment term. Let’s do a little math:

$9,000 x 10% interest= $900

$9,000 + $900= $9,900

$9,900/ 60 months= $165 per month

It may be more feasible to come up with $165 per month to pay a loan that it is to make a wedding payment plan in other ways.

Considering a Loan?

While loans for wedding expenses can help you make out your wedding payment plan much easier, there are things to consider:

Benefits

Loans can get you the money you need for a wedding immediately. This can decrease stress levels since the wedding expenses can be paid for all at once, and payments are just made over time. They can also be very helpful when you cannot attain enough money to cover your wedding expenses, including small, simple weddings and big, fancy weddings. The loans can open up more possibilities to you and give you more time to pay for those expenses.

Risks

Like everything, there are downsides to using loans in your wedding payment plan. First, money is one of the leading causes of divorce, and divorce is one of the leading causes of more money trouble. Walking into a marriage with a rain cloud of debt hanging over the two of you might not set the stage for a fruitful and happy marriage. Also, if you are not responsible with it, you may spend more on your wedding than you ever wanted to just because the money is available. Just carefully think it through before taking out the loan.

Tips For Getting a Loan

If you are going to take out a loan to fund your wedding payment plan, the type of loan and the details of the loan are vitally important. A personal installment loan is usually the wisest choice because they offer lower interest and longer repayment terms. The interest rate may also vary depending on your credit score. Find a reputable lender for your loan online and go through the entire process quickly and efficiently.

Before you sign any paperwork, understand your interest, whether it is fixed or compounded, and how much you will be paying monthly for how many months. You need all of that information to decide if the loan is a good idea. If the payment is going to be too high, try decreasing the amount you need to borrow even more.

Is There a Way to Avoid Loans for Wedding Expenses?

I am so glad you asked. Let me first say that the old saying, “Where there’s a will, there’s a way” still rings true to this day. If you truly want to stay away from loans for wedding expenses, you can do it. The question is how far are you willing to go? There are many fun and creative ways to pay for a wedding, or decrease the amount of wedding finance you need.

Conclusion

Any time you are trying to get somewhere, you need a plan- or a map. A wedding is no different. The bride and groom need to determine what is important to them for their wedding, and then make a wedding payment plan to fulfill those desires. Knowing how it will be paid for is almost as important as the wedding itself. Work your way through the plan, and if you find yourself in need of a loan, you can trust Loanry to help you find a reputable lender.

Save Money on your Wedding

Credit Cards for Wedding Expenses: Swipe Here

Credit Cards for Wedding Expenses

You know you are now ready to get married. But your wallet is not. What will you do? should you opt for a personal loan or use your credit cards for wedding expenses? If you have existing loans, you have to reconsider your options. A budget calculator can help you manage your finances to determine whether a credit card wedding financing or a loan is what you need.

Let us check the pros and cons of wedding loans versus using credit cards.

Using Credit Cards for Wedding Expenses

If you have a credit card, it means that your bank is giving you a pre-approved loan. You can use your credit card to finance your wedding. It comes with a credit limit that you can maximize to your advantage.

Here are some ways to maximize your credit cards for wedding expenses.

Look for a wedding planner service provider that accepts credit card

To take advantage of your credit card wedding finance, purchase wedding necessities at 0% interest. You can also use a wedding planner service coordinator that accepts credit card for payment. If they don’t offer an installment plan, you can check with your bank.

Wedding coordinator providers now know the challenges associated with skyrocketing wedding cost.

Check for credit card promotions that your bank offers

Promotions like 10% on wedding cakes or 10% discount on a wedding dress from your mall’s department store can mean savings on your credit cards for wedding expenses.

Check for tiered promotions where you can get possible discounts for hotel rooms. Look for a hotel that offers a 10% discount if you use a certain credit card like Visa or MasterCard. Now you got a place for your honeymoon.

0% Interest rates

Take advantage of your card if there are 0% interest rate offers. 0% interest rate means you can pay and have it on installment without interest. Installment plans can be up to 48 months at 0% interest.

Cashback and rebate with a minimum spent

Most credit card companies and banks offer cash back and rebates. For example, you can get a $50 rebate if you will spend a certain amount with your card. You can also get points that can be converted to cash.

Your research skill can help you find cash back and rebates. You can also call your bank and check what they currently have for promotions.

Earn reward points

With a good credit card, every time you swipe your card means spending. As you rely on your credit card wedding finance for expenses, know that you are also earning points. Robust reward points can be converted to big savings too.

For example, there are credit cards that can give you 1000 reward points every time you spend at least $1000. The said reward points can be converted to something else like cash. You can also convert it gift checks.

If using a credit card for your wedding sounds like something you should do, you can look for the perfect credit card here, on Loanry. You should definitely consider the following cards:


Taking a Personal Loan for Wedding

Wanting to spend on your own wedding is admirable. It is what adults do. It is called taking responsibility. And with your big day coming, you would want to prove that you can. With a limited budget, one thing you can do is to take a wedding loan. A wedding loan is a personal loan that you can allot for your wedding expenses. We don’t recommend going into to debt for your wedding, but some people say I do. We always recommend saving on your wedding before getting a loan or using credit cards for wedding expenses.

Here are the types of personal loans that you can take.

Bank loan

Taking a bank loan is easy if you have a good credit score. The interest is also low as compared to other creditors. However, before you can take a bank loan, you should consider the following:

Interest rates

How much is the interest rate? Can you afford it without going bankrupt? Bank loan interest rates depend on your current score standing and the loan amount you are trying to get.

How to Get Low Interest Rates

Don’t limit yourself with the nearest bank in your area. There are numbers of banks that offer bank loan with low-interest rates. What you can do?

  • Do your research about the different bank loans offered near you
  • Don’t limit it to banks near you, check online as well
  • Choose the best three banks, choose the right one for your needs

What to prepare to get low-interest rates

For bank loans, the interest rate will depend on your credit score and the terms payment selected. Start your preparation by checking your current credit score. If it is poor, find a way to at least make it average. Pay old debts if you can. Consolidate your credits. Once you have a better credit score, you can enjoy a more flexible bank loan interest rate.

Terms of payment

Most banks offer easy installment payment when offering loans. Depending on your current financial status, choose the term that will work for you.

6-month payment term

A 6-month wedding loan is highly advisable because it has the lowest interest rate. Remember, the longer the terms of payment are, the higher the interest rate will be.

12-month payment term

If you cannot pay it immediately, go for a yearlong installment plan.

24-month payment term

Most banks offer two-year bank loans, and this is good if you are not seeing any potential financial setback in the future.

48-month payment term

You can go for a longer wedding loan term if it will positively affect your financial status. You might not want to start your first one-to-two-years of marriage life paying the debt. Still, if it helps in managing your finances, you can go for two years. There are banks that offer 3 to 5 years payment terms as well, just choose which one will work best for you.

What is the best payment term?

The best payment term is the one that will work with your current and possible future financial status. Don’t get a short-payment term if you won’t be able to pay it. It can be stressful to your marriage life if you will be faced with financial problems in your first months.

Secured loans

If you don’t want to use your credit card for wedding expenses like on wedding ring financing or wedding gown, a secured loans might help. Secured loan is easy to get with collateral regardless of your credit score.

Before getting a secured loan, consider the following factors.

Interest rates

A secured loan are easy to find. However, the interest rate is hard to accept. If you are going to take a secured loan, make sure that you have computed the interest rate in advance to determine if really helps or not.

Terms of payment

Most secured loans have short terms of payment. It can be 1 to 3 months. Failing to pay it on time also means paying a penalty of the outrageous amount.

Loans with a guarantor

You can get a loan with a guarantor from individual creditors. These are people who do it as their personal business. However, it is hard to get a loan from them unless someone they knew acts as your guarantor.

Interest rates

The interest rate from individual creditors ranges from 5% to 20% of the principal amount.

Terms of payment

The good thing about personal creditors is flexibility. You can ask them to give you a good term of payment that banks or secure loan creditors don’t offer.

Taking a loan from a friend or a family member

A wedding is such a joyful event. You might find your family members offering financial help at your wedding and it is okay. Offer to pay interest. Ask for good payment terms.

Interest rates

Asking help from your dad might be easier if you are getting married especially if you have a bad credit score. You can show gratefulness by offering to return it with an interest in their liking.

Terms of payment

With a loan from a friend or a relative, you can also haggle in terms of making a payment. I know a friend who is paying our other friend quarterly for his wedding loan. If a friend offers financial help for your wedding, take it, just make sure to pay it as agreed.

Is It Possible to Avoid A Wedding Loan?

If you have enough savings, yes you can avoid a wedding loan. However, would you drain your emergency fund just to get married? It is still best to use your credit cards for wedding expenses or take a personal loan. This way, in case something happens, you ‘ll have your emergency fund to use.

If getting a wedding loan is inevitable, you can still at least reduce the loan amount. Here are some tips that you can do to minimize your wedding expenses.

Plan and budget

Overspending happens when you keep on buying stuff that is not needed. To make your expenses clearer, you can start by planning. Sit with

Loanry Wedding Budget WorkSheet
DOWNLOAD: Loanry Wedding Budget WorkSheet

your partner and start making a list.

For your wedding loan, you can decide on the amount based on your plan and checklist. Avoid taking more than what you need. Applying for a bigger loan means paying a higher interest rate.

Use your credit card as much as possible

If you have a credit card with good standing and high credit limit, use it for your wedding as well. You can take advantage of your credit card offers and promotions. That way, you can avoid taking a payday loan. Using your credit cards for wedding expenses is much better than taking out a loan in terms of interest and payment scheme. If you cannot pay your credit card bill the following month, request for consolidation. This way, you can have your credit card wedding finance be paid in installment.

Reducing wedding expenses

Everything You Need to Know to Save Money on Your Wedding

If you are trying to avoid getting a wedding loan, start by reducing your wedding expenses. Among the things that you can change or modify to save are:

Guest list

Make your wedding ceremony more intimate by inviting a few important people only. Make sure your families are there and your best friends. There is no need to invite your grade school teachers or your neighbors from 20 years ago.

Change venue

A church wedding can be expensive. Instead of exchanging vows on a church, have your wedding ceremony at a park. If you are near a beach, do it on the seaside. It can turn the atmosphere more romantic and solemn.

Reconsider the reception place

Having a 5-course meal can be impressive. It is also expensive. If you have family members that can cook well, why not ask for their help. Pay for a resort or place where you can have the reception. Bring in your own caterer. This way, you can personally select the menu while at the same time saving on cost.

Rent a wedding dress

Most women might want to have the best wedding dress. But you only wear it once. If you can find a great rental wedding gown, consider it. You can also check thrift stores for vintage wedding gowns.

Maximize your friend’s photography skills

If you have a friend that takes a picture like a pro, ask him to cover your wedding. If you have a friend who is good with makeups, ask for help. You can save a few hundred dollars to a thousand if you have friends that can help you.

You got a friend who can DJ? Why not ask him to man the floor after the wedding ceremony? In addition, if you have creative and artistic skills, you can also make your own souvenirs instead of buying.

Set your date outside the wedding season

Indeed! A lot of women want to be a June bride. For some reason, June or summer is the favorite season to get married. During this time, expect wedding cost to be inflated. Wedding venues are expensive as well as catering services. Wedding planner service providers are hard to find as well. If you can, pick a date that is close to both of your hearts. It can be your anniversary or birthdays.

How to Prepare for The Big Day?

Not everyone can get married. Not all couples who want a ceremony gets it. If you have plans to get married, you can start by looking at your current financial situation. Do you have any savings? Or an emergency fund? Do you have good credit score in case you need to borrow? Do you have families that can help you?

Start applying for credit cards

Find the best credit cards in town. Do your research. There are credit cards that are generous in awarding rebate points. There are credit cards that are always offering 0% installment promotions.

Build a good credit reputation to increase your credit limit. Overall, build a good reputation as a credit card holder. If you need to request for reimbursement like annual fees, your credit card provider can grant your request.

Start checking bank loan processes

Know what you need to prepare. Know their requirements and terms. Is it doable? Can you borrow and be able to pay it on time? Taking a bank loan if you have a good credit score is easy. if you have bad credit, you might find it more difficult to get approval. Unlike credit cards, you can use credit cards for wedding expenses until you reach the limit of your cards.

Work harder and start saving

If you are currently working on a day job, find another source of income. You can opt for online jobs that pay well. You can start a small business. Talk with your partner on how you can grow your money until you decide on a wedding date. Above all, start saving for your big day. Reduce your date nights and drink nights. If you can watch movies at home, do so. subscribe to Netflix rather than watch at cinemas weekly.

Conclusion

Wedding Loans vs. Credit Cards: Borrowing to Get Married

Rather than taking a wedding loan, you can also use your credit cards for wedding expenses. Credit card companies offer different promotions that you can take advantage of. It is like applying for a loan but with different perks. It is easier to use as well, just swipe it.

With a credit card, you can start purchasing a wedding dress, shoes, gifts, and souvenirs. You can also work with a wedding coordinator service provider that accepts credit card for payment. While spending, you are also earning reward points and rebates. Once you maxed out your credit card, you can have your balance consolidated or request for a balance transfer with a more flexible term of payment.

Personal Loan for Marriage: Some Say I Do

Personal Loan for Marriage

The day finally comes when the love of your life asks for your hand and marriage, and you say “yes”. You are swept off your feet in a whimsical and fantasizing way that you’ve dreamt of practically your whole life. Then, reality hits: How can I afford the wedding of my dreams?

In life, we all have dreams and fantasies; however, only a very small number of people were born with a silver spoon in their mouths. In other words, only 1% percent of society is very rich while the rest of us have to proceed accordingly with our budgets. And even then, only a certain portion of people are at least well of, thus having a lot more finances to afford a fairytale wedding while the rest of us have to proceed with caution. Nevertheless, we also live in a day where we can obtain our dreams by cutting corners, saving up, and getting a loan for wedding expenses.

Say Yes to Personal Loan for Your Marriage?

We can thank our lucky stars that we have much more options available today when it comes to wedding finance. We can find great sales, borrow things from loved ones, buy things on credit, rent items, buy things at second-hand stores, buy things on an installment plan, and more to get that dream wedding. In many cases, most of your expenses will significantly reduce.

However, a personal loan for marriage is still needed after applying the other wedding finance methods just mentioned getting the wedding of your dreams. The following are reasons why a couple would take out a wedding loan to fund their dream wedding:

  • Still must find a place to marry if you live in an apartment and can’t use someone’s house (backyard)- in these cases, you can’t pay by installments or put on layaway. You must rent out the place to marry.
  • Still must pay services from an ordained minister or priest
  • Even if you have a house, you still must buy/rent chairs to set for the ceremony, chairs and tables for food and to sit to eat, music to play or hire a DJ, etc.
  • No matter how creative you’ll be to obtain a simple yet elegant wedding, you still must buy rings, rent/buy tuxedos for the groom and his men and wedding gowns for the bride and bridesmaids.

Wedding Expenses

To get a breakdown of wedding expenses and budget, you must look at all the details that goes into getting that dream wedding, even when it comes to buying on discount, renting certain items, borrowing from family/ friends, putting things on layaway, getting things on credit or through a payment plan, and even obtaining things from yard sales. Studies have shown that the average American wedding costs from $16,000 to $20,000. So, you must be strategic in seeing how you can work out some deals and so forth.

To get an even more detailed look at wedding expenses, the following list includes the purchase price for the simplest, most affordable wedding possible that is still considered a dream wedding. If you see how the average person may still need a personal loan for marriage with the most affordable dream wedding possible, then you can just imagine how much of a personal loan for marriage you’ll need for a more extravagant wedding.

Most Affordable Wedding Possible for a Dream Wedding

Unless you will win the lottery or a dream wedding contest, the following includes the most affordable rates:

  1. Hiring an ordained minister/clergyman (Intern minister or retired judge): $100
  2. DIY Wedding Cake: $50
  3. Fancier Plastic Ware: $80
  4. Wedding Rentals with Photo Booth: $550
  5. Tuxedo and Bridal Gowns rental: $400
  6. Music/DJ (beginning DJ): $200
  7. Food/Caterers: $4,000
  8. Wedding Bouquets: $200
  9. Other Wedding Gowns, Flower Girl Gown, best man tux, and ring bearer: $400

Once again, these are the cheapest prices found and sources I’ve found. Cheapest, in some cases, may be sub par in quality. For instance, if the beginning DJ doesn’t have any references, that is even more reason to check his/her DJ talent ability. You may also want to have a backup, just in case he/she shows up late or doesn’t show at all. You may have a stereo system with your CDs, have another DJ on standby, have a close friend/family member to DJ your music for a portion of the price, etc.  This list doesn’t include engagement and wedding rings, stationary for invites, other wedding decorations, and wedding transport. Wedding transport can cost from free to $1,200, according to GroupTravel.org.

You should ultimately save money on your wedding to avoid paying down interest expenses. You may even have family to fix your food, and people can serve themselves.  But no matter how you save or get help from loved ones, you will more than likely need a personal for marriage.  With all these expenses, you still haven’t include your expenses for the honeymoon.

What to Consider When Taking Out a Loan?

Now that you know a personal loan for wedding cost is an option, there are various things to consider. For one, we have more options to obtain a loan. We don’t have to go to a traditional bank. We don’t have to have good credit or even collateral. Also, there are a plethora of financial institutions these days with more lenient guidelines. You don’t even have to have a co-signer most of the time.

Another thing to consider is the fact that there is pros and cons to personal loans for wedding expenses:

Wedding Loans’ Pros

  • With the exception of bad credit personal loans, the interest rate is usually lower than most credit cards.
  • You will gain the ability of debt consolidation to pay off all the expenses with a personal loan, i.e. you are given the full amount required for your wedding. Thus, you’ll just pay one monthly payment to the financial institution.
  • You will gain some breathing room to work your cash flow for your wedding expenses with less strain.
  • You can improve your credit score (i.e. if you pay the loan back on time)
  • There will be no unpleasant surprises due to having predictable fixed interest rates.
  • You will gain burden relief so you and your family and spouse-to-be can fully enjoy the wedding and honeymoon.
  • You’ll ensure that you will have a fabulous wedding with the extra funding.

Wedding Loans’ Cons

  • Upon defaulting on a loan, the lender may come after you with additional interests/fees.
  • There may be costly fees, especially with bad credit loans.
  • Possible penalty for prepaying some loans.
  • There could be high-interest rates especially if you have bad credit.
  • Debt, which incurs at the beginning of your marriage in this case,  is a strain on couples.

More about the Bad Credit Personal Loans for Marriage

Wedding Loans for Bad
CLICK IMAGE: Wedding Loans for Bad

If you have bad credit, don’t fret. There is a financial institution that has terms and interest rates that are workable for you and your budget. There are many bad credit personal loans that come with high interest rates. And these loans you should stay away of. Perform your due diligence in looking for loans with better rates. You’ll may be surprise how reasonable some rates and fees are even with bad credit. Other than that, there are various advantages and disadvantages of bad credit personal loans for marriage, and they are as follows:

Advantages of bad credit loans:

  • You can get a bad credit loan fairly easy regardless of credit.
  • Normally, loans are provided within 24 hours.
  • You may have the extras that you desire for your wedding.

Disadvantages of bad credit loans:

  • Interest rates and fees are usually higher.
  • There will be more debt load with a loan repayment.
  • Starting a life together with more debt is not desirable.

What Can Be Done to Lower the Loan Amount Needed

Now that you know the ins and outs concerning a personal loan for marriage, you can make the right decision. You can weigh out which loan and loan company will best suit you. You can also lower the loan amount needed than you previously thought you may need.  One thing you can do is to check various retail outlets to check for sales.

You can also check various retailers to see if there is a layaway plan. You must research thoroughly every piece of clothing for you, the groom, and everyone who will be in the wedding. In some cases, there may be clearance racks with valuable things for the wedding even if it’s just decorations. Also, some people find that the savings are even better when getting their dresses sewn, instead of buying them even at discount stores.

When it comes to men’s tuxedos, there are a plethora of stores that have discounts quite frequently. The prices are so affordable many times, and you don’t have to compromise quality for more affordable prices in many cases. When it comes to decorations, cooking equipment, and reception items, you will be surprise of the deals that you can find on just about any reputable department store, such as Amazon, eBay, Walmart, and even Party and Event retailers.

Why not borrowing?

If you desire to borrow some things from family and friends, you can borrow your or his mom’s wedding dress and have it tailored according to your body type. You can borrow someone’s bouquet. In many cases, your family and friends will have the cooking and serving utensils, bowls, pots, and pans needed for the food. And as mentioned before,  you can buy things on credit, able to rent, buy things at second-hand stores, buy things on a payment plan, and more to get that dream wedding. Most of your expenses will significantly reduce. And as a result, you will only need a few hundred to a few thousands of dollars after cutting down on the expenses.

The Bottom Line…Personal Loan for Marriage

You are swept off your feet in a whimsical and fantasizing way about that dream wedding until reality hits: How can I afford the wedding of my dreams? Only a certain portion of people are at least well off thus having a lot more finances to afford a fairytale wedding while the rest of us have to proceed with caution. However, we also live in a day where we can obtain our dreams by cutting corners, saving up, and get a personal loan for marriage.

Taking out a Loan for a Wedding: Diamonds to Debt

To get a better look into wedding expenses, you must look at all the details that goes into getting that dream wedding, even when it comes to buying on discount, renting certain items, borrowing from family/friends, putting things on layaway, getting things on credit or through a payment plan, and even obtaining things from yard sales. Studies have shown that the average American wedding costs from $16,000 to $20,000. So, you must be strategic in seeing how you can work out some deals and so forth.

Final Thought

The cheapest prices mentioned above was just shy of $6,000 from the sources. This list doesn’t include engagement and wedding rings, stationary for invites, other wedding decorations, and wedding transport. Wedding transport can cost to $1,200. Also, the cheapest, in some cases, maybe sub-par in quality. For instance, if the beginning DJ doesn’t have any references, that is even more reason to check his/her DJ talent ability. You may also want to have a backup, just in case he/she shows up late or doesn’t show at all. You may have a stereo system with your CDs, have another DJ, have a close friend/family member for a portion of the price, etc. It’s imperative to perform your due diligence to ensure high-quality. You should also get more for your money.

Your spouse-to-be and you will be most appreciative as you start your new life together. There is no need to add the strain to a potentially stressful event that should only be a day of bliss and excitement.

We have more options than to obtain a loan. We don’t have to go to a traditional bank. Nor to go to a credit union. Nor even to have good credit or collateral. And with so many alternatives in financial institutions these days, the sky is the limit when it comes to obtaining the right loan for you and your budget.

You are swept off your feet in a whimsical and fantasizing way that you’ve dreamt of practically your whole life. You can stay that way especially when you eliminate the stress for that special day. Furthermore, you definitely don’t want to have any unpleasant interruptions in thoughts or otherwise when it comes to the honeymoon. Take advantage of these steps today for getting a personal loan for marriage starting today.Wedding Loan

Wedding Loans Online: Couples Choice

Wedding Loans Online

The question was asked. The date is set. Your wedding is off to a seemingly great start. What about the budget, though?

Many couples forfeit the ceremony and reception of their dreams because of limited wedding finances. You may want a wedding designed after Paris. What you may actually get is a ceremony that resembles that of a shotgun wedding in Texas.

Limited finances can impede your special day. A lack of money does not have to be the end of the road, though. Did you know that there are loans for wedding expenses? Furthermore, you can get wedding loans online that come with a quick and easy application process.

You can essentially be strapped for cash one moment a have all the money you need for your big day the next with the possibility of wedding loans online. Read on to learn more about loans for wedding expenses.

Wedding Loan Basics

In short, a wedding loan is a personal loan. You apply for an advance to pay for your wedding and agree to pay back the amount with interest.

Unlike traditional personal advances, loans for wedding expenses may come with faster approval. Since traditional banks are not the only financial institutions that grant such advances, it is very possible to get wedding loans online in a matter of minutes. Such a fast approval process really helps when you are in a bind and need to give the caterer a deposit today instead of tomorrow.

Save on your Wedding

How Do I Get Wedding Loans Online?

One of the main benefits of wedding loans online is convenience. You can apply for wedding finance from home or your mobile phone. Some banks even let you sign and submit documents online so that the whole process is seamless.

You should know that wedding loans, in all of their convenience, come with certain income and credit requirements. Lenders typically want you to have good credit. A credit score greater than 700 points is usually considered good credit.

You also need the income to support the loan. Paycheck stubs are the best way to prove income. It is a good idea to seek a loan with monthly payments that consume no more than 10 percent of your net monthly income. You should, therefore, search for an advance with monthly payments no higher than $300 per month if you earn $3,000 per month.

Lenders also factor in your debt-to-income ratio. You may want to think twice about looking for wedding loans online if you are already over-extended. Remember that your overall debt, notwithstanding monthly mortgage or rent payments, should be no more than 30 percent of your monthly income. You should factor in your monthly car note as well as credit card commitments before applying for a wedding loan.

Bank statements are one of the best ways to prove stability when applying for wedding loans online. Three months of your account being in the black shows lenders that you do not live beyond your means on a regular basis. You may also consider uploading a utility bill that shows a current status to prove that you make timely monthly payments.

Finally, you need to do extensive research to find the right lender. Or you can get offers right now. Which one sounds better? If you’d like to go for the second option, Loanry can help. We connect you to lenders whose requirements you may meet. And how can we know that? Well, we ask you to fill out the form below and then we work from there.

Can You Be Denied by an Online Lender?

As with any personal loan, wedding loans online are not guaranteed. You may be denied funding if you do not furnish proof of income or if your debt-to-income ratio is too high. Remember that lenders want a return on their investments. Your borrowing is an investment that needs to be repaid within the given time frame.

Some lenders do not take a chance. They will deny you outright if your credit score is not good. There are other financial institutions, though, that specialize in wedding loans for bad credit. These firms may approve you even if your credit score is low.

Of course, wedding loans for bad credit may require double the income and more collateral. You may even need a co-signer to provide the extra backing that you need for approval. Still, all is not lost if you have less-than-desirable credit and need wedding finances.

Why Get a Wedding Loan Online?

Did you know that the cost of wedding ceremonies and receptions are at an all-time high in the United States? On a national scale, couples spend upwards of $35,000 for expenses. That figure was $2,000 less about three years ago.

It is little secret then, that the price of tying the knot with a traditional ceremony and reception grows by the day. What do you do, though, when the cost outweighs what you have in the bank account?

Who Should Look for Wedding Loans Online?

Any couple looking to tie the knot within the next few months should consider wedding loans online. An advance could be the thing that you need to keep the ship sailing.

You should be mindful when borrowing. Remember that a wedding loan is a personal loan. It may not be the best idea to immediately reach for an application if you do not have a budget. How would you know how much you need to borrow?

How to Make Wedding Loans Online Work for You

The key to getting the most out of any personal loan is responsible borrowing. You would not buy the most expensive car on the lost just because you have the means to do so. Why, then, would you buy the most expensive dress in the shop just because you have the cash?

Proper budgeting tells you what you need and what you want. You have to buy the essentials. You can forgo a few of the things that you want if it means your wedding will be less expensive. Then, you can approach the borrowing process with a figure that is sensible and not extreme, which means that you will not have problems with repayments. Of course, the loan officer can also help you determine affordability so that you are sure to agree to a loan that truly fits your means.

Why Not Use a Credit Card?

Some couples choose wedding loans the route of working with what they have. There is nothing wrong, after all, with going for a cheaper venue and forfeiting the best chef in town. Other lovebirds refuse to trade in their dream wedding for something frugal. You may find such persons using their credit cards to pay for everything.

There is certainly nothing wrong with putting all wedding expenses on your credit card. Some experts even say that using such a method comes with benefits. Credit cards come with protections against fraud. You may, in other words, be able to recover funds if things are not on the up-and-up with a vendor. What about all the cons, though?

Anyone who has ever had a credit card knows that the comfort of a revolving loan is dangerous. You may not reconsider items on your budget if you know that you can just charge these things to what seems like a never-ending source of funds. In the end, you could find yourself in mounds of debt with an extremely high interest rate.

There is little worse than starting your new life with your spouse on the wrong financial footing. Such is the reason why those considering credit cards as a funding source should look into wedding loans online.

Interest Rates on Wedding Loans Online

It is true that loans for wedding expenses come with interest rates. The amount that you pay in interest on a personal loan, however, is minimal when compared to that of a credit card. Some of the best credit cards charge around nine percent interest rate. Cards for bad credit are even higher with some rates getting into 25 or even 30 percent. Imagine having to pay 30 percent on top of $35,000 plus additional hidden fees. Suddenly, the wedding of your dreams turns into a $70,000 nightmare.

Credit cards are great for emergencies. They are not ideal for ongoing expenses and certainly not the first thing you grab when paying for wedding expenses. Wedding loans online are a more economical way to pay for costs related to your big wedding day.

Is Home Equity an Option for Wedding Funding?

Some parents on the hook for funding the daughter’s wedding may look into home equity loans. These type of advances have more cons than pros.

For those who do not know, a home equity loan is an advance that you take out against the mortgage of your home. You basically tell the bank that you want to borrow against the savings accrued from your timely mortgage payments. You agree to pay a home equity loan back with interest just as you would a personal loan.

The main issue with these types of advances is their direct connection to your home. You run the risk of putting your dwelling place in jeopardy if you default on a home equity loan.

Meanwhile, wedding loans online do not come with the risk of you losing everything if you happen to miss a few payments. Of course, responsible borrowers who only use what they need do not run into the problem of defaulting on loans. Still, wedding loans online provide the comfort of you knowing that your home is not up as collateral.

Can I Save for My Wedding?

There is definitely nothing wrong with saving for your wedding until you have enough money to pay for one like your dreams. Even careful planning comes with loopholes, though. How will you hold your space if the venue that you want requires a deposit several months in advance? Furthermore, what about the other contributors who make your dream wedding possible? They, too, want a deposit.

Wedding loans online are ideal for careful planners because they cover unexpected costs. Instead of re-arranging your timeline so that you can give the caterer his first payment, you can simply find an advance to finance your immediate need. You have still performed your due diligence of saving and budgeting. The loan is just the money you need to tide things over.

Create a Wedding Budget First

The most successful weddings have organized budgets. You should have a general overview of what you want and how much it will cost to make your dreams a reality. Some planners use a spreadsheet to get their ideas on paper. They then shop around for the best prices and compare several options before deciding what they want to do.

Creating a budget in this way lets you find the most frugal sources and prevents you from spending too much for too little. So many couples are excited about their big day and forget to ask vital questions during the initial interviews. Taking down vital information and revisiting such concepts at a later date may provide more clarity.

Save Money on your Wedding

Set a figure

Another element of budgeting that couples miss is setting a figure. You should establish how much you want to spend before searching out venues and caterers. Using this method sets a stopping point for you and your lover. You may have to turn down the best coordinator in town if her price is $20,000 and your budget for the whole event is $35,000. You would probably be tempted to hire her, though, without an established stopping point.

In many cases, having a stopping point is why some couples reach for wedding loans online first. You know that you cannot go over $50,000 if that is all that your wedding loan will allow. But you may be tempted to overstretch if you only use your saving or checking account. You do, after all, get paid every two weeks and can always make it up on your next check.

Wedding loans online and budgeting essentially go hand-in-hand. You cannot have a great borrowing experience without first establishing a budget. You also cannot sustain a great budget with a stopping point unless you have the firmness that comes with an advance.

But Doesn’t a Wedding Loan Add More Debt?

Some lovebirds shy away from the idea of wedding finance for fear of not being able to pay back the loan. “We are starting our lives together,” some couples think. “We do not want to begin in debt.” The truth is that you will begin your lives in debt with or without a wedding loan.

Unless you marry fresh out of high school, you and your spouse probably have credit cards and mortgages with which to contend. Both of these elements are forms of debt. You are in even greater debt if you buy or lease a car. The lender expects your payments on time as does the car insurance company.

In reality, the notion of having a fresh start is just an illusion. Both your spouse and yourself bring bills to the table. Why, then, would you choose to make things more difficult by trying to fit the cost of a wedding into a budget that is already complicated by the bare necessities?

Wedding loans online give you the relief and cushion that you need to plan the wedding that you deserve. You do not have to worry about robbing Peter to pay Paul when you secure separate financing for your big day.

Final Thoughts

Wedding loans online are the ideal solution if you are stuck in a temporary bind and need cash for your wedding fast. The approval process may be quick and easy so that you can worry about other things surrounding that big day.

Use our services when you want to find wedding loans online. Our database may be able to connect you with the right lender. Get started on the path of wedding financing today!

Wedding Rings on Credit: Swipe Here

Wedding Rings on Credit
Buying Wedding Rings on Credit

Making the Decision

Discovering the love of your life is one of the greatest joys in life. Followed by being ready to spend the rest of your life together. This is a milestone that is customarily marked with a wedding ring. The tradition of asking for your partners hand in marriage and giving a wedding ring is truly timeless. This meaningful event can be stressful because it’s a monumental time and wedding rings often have a big price tag too. That’s why many decide to buy wedding rings on credit.

There’s no way to get around the fact that deciding to spend the rest of your life with other is a major decision, but keep calm and understand that at least there are resources to help with the cost of wedding rings on credit and loans for wedding expenses. Is it time to buy the ring on CREDIT?

Weddings Costs

Let’s be honest, the costs surrounding weddings can be high but should not discourage one of the greatest moment in life. Typically, the first big expense on the journey to marriage is the wedding ring. Did you know that loans for wedding expenses exist? Well they do. Most people only think about financial assistance when it comes to things like buying a car, school tuition, and perhaps shopping for items like furniture. The truth is that there is help out there which understands the stress surrounding wedding finance.

Save on your Wedding

When it’s time to explore your engagement, think about purchasing wedding rings on credit. I know it can be uncomfortable to consider loans for wedding expenses but it really doesn’t have to be something that forces you to put off asking for your partner’s hand in marriage – that’s a decision that should never be put off. Don’t waste your time putting off starting your life together. Like every big decision it’s important to plan and create a budget, this is especially prudent if you’re considering taking out a loan for an engagement ring.

New Couples – Wedding Finances, It’s time to talk

Today the costs of living and building a life together is something that requires planning. This is why you should begin with a credit program for your wedding expenses that often begins with the purchase of a wedding ring. Diamond rings can be thousands of dollars and even if you purchase a solid gold ring even without a diamond it can break a budget, but this is something you’re only going to buy one time. If you need a large loan to make a purchase or just need a little help funding the total amount of money, you might want to consider purchasing a wedding rings on credit. There are many reasons to consider this solution during this important period in your life, so there’s nothing to be embarrassed about just proud to start your life together.

Discuss the wedding plans

As a future couple it’s worth discussing the overall wedding plans and consider the wedding finance that go along with planning one of the most memorable moments in your life. The wedding ring can cost thousands but it’s an item you’ll have the rest of your life, however, there are things to cost a lot for that one day like wedding photographers, valet parking, videographer, wedding dresses, invitations, hair stylists, and so much more. Having some extra cash for the wedding day expenses is a common reason many decide to purchase a wedding ring with a loan. You can explore more on this topic in this article –

Why Would a Couple Take Out a Wedding Loan. Other couples might just need the help to pay for their dream ring and need a few thousand dollars to make it happen. It’s an easy discussion to have with your partner and a great way to begin a life together making joint decisions. You’re not alone anymore and you shouldn’t feel that you’re alone when it comes to your wedding expenses or buying wedding rings on credit.

Consider taking a wedding loan

A wedding loan can be a solution for some extra cash, but you should also know that this is usually unsecured debt and can come with a high interest rate. Also, when using credit to purchases wedding rings on credit you don’t want the loan to be secured by the ring because in the event that you default you don’t want to loss the symbol of your matrimony. To be informed about the pros and cons of wedding loans you should visit this great article which outlines the pros and cons of wedding loans with a comprehensive list you should consider when making your decision.

Everyone deserves to share a life together with their love and enjoy a happy marriage for many years into the future. However, not everyone has good credit and this can be tricky when searching for consider wedding rings on credit. Buying wedding rings on credit can be advantageous for those with good credit, it’s a great way to free up some cash and in some cases the interest rates will be lower than using a credit card. If you have bad credit, there might still be a solution for you but make sure to take a closer look at the terms and rates. This thoughtful guide will help you better understand how to proceed for a loan for a wedding with bad credit – know what your up against.

Really expensive? Don’t worry!

Regardless of your credit and length of time planning the perfect wedding, the expenses can add up quick. Don’t worry, guess what? You are not the first person to get married and you won’t be the last. Now’s the time to learn from those with experience, there are countless ways to save money on your wedding day. Having the right tips is great if you’re looking to spend a little more money on your wedding ring without sacrificing your wedding event. There’s a lot more to consider than just purchasing wedding rings on credit.

Things like having a buffet dinner, scheduling an off-season event, and emailing your invites are only a few ways to save money while still having the event of your dreams. When it comes to your wedding finance plan, you’ll be surprised to learn about all the clever tips and tricks to free up some extra cash especially relevant if you’re considering purchasing wedding rings on credit.

I know there’s a lot to think about, but you’ll be fine – stay focused. It’s time to recognize that your wedding plans and future marriage will heavily rely on your ability to properly budget. It’s best to begin budgeting sooner than later, but that being said…it’s never too late to create a budget. We all know that it’s tough to stay in your budget and sometimes credit cards can help make those special moments a little more special – do you really want to take the plunge?

Should I use a credit card or a personal loan to buy a wedding rings on credit?

1. Can you really afford to buy that wedding rings on credit?

The money might be in the bank or in a line of credit, but can you pay off this debt comfortably. Remember this is the symbol of how you’re starting your marriage so stay focused on what’s important. If the payments might be challenging, perhaps opt for a smaller ring and in the future get the larger one.

2. Did you pick the ring your partner truly loves?

If you’re buying the wedding ring with credit or cash, don’t waste your money. It’s so important that you find out the ring you buy is the right one and it will be coveted for years into the marriage. Either find out directly or ask one of their close friends for the details. Trust me, if you’re using credit to buy the wedding ring and have to make payments at least you know it’s the absolute right ring and not just going to end up in a drawer.

3. Is there a prepayment penalty to buying your wedding ring on credit?

I know you’re thinking that you’ll get a lot of wedding gifts and even some cash, just use that cash or sell gifts to pay off the credit line. Right, wrong, maybe. There might be a prepayment penalty, this means that the creditor will make sure they get paid too. The creditor doesn’t just want to help you make a purchase, they look to make money. Depending on the fine print, you may also have to pay a penalty amount which is more than you anticipated in your plan to get married and use the gift money to pay off the debt. Just be aware of what you’ll be doing and the terms that apply.

4. The better your credit that better the interest rate, get ready.

I know you understand that better credit usually means better interest rates. Start early and begin now to get your credit in order if you’re considering buying a wedding ring on credit. There are many other expenses headed your way so keep that in mind so that you’re not maxing out your overall credit. Be mindful of your current credit and consider taking steps to reduce your credit prior to making a big purchase like the wedding ring or other wedding expenses.

wedding loans vs credit cards
CLICK IMAGE: Wedding Loans vs Credit Cards

5. Stay happy, be positive, and remember love!

This might sound corny but it’s very important to stay focused on happiness and to keep your feet grounded. Sure an expensive ring is meaningful and so is a lavish wedding, but being debt free is also valuable too. You can be very happy and carry debt or be miserable and be debt free. The point is that you should remember you’re considering all of these new expenses because of love and that’s the best life has to offer – stay positive.

6. Store promotions and wedding rings on credit.

In addition to simply purchasing a wedding ring with any type of credit, take time to research what’s out there. There are jewelry stores that offer promotions, discounts and in-store credit cards to help make your purchase easier. Keep in mind that typically these offers are for those with great credit. Either way it’s a good place to start and understand your options deciding which credit line to select and where to buy your wedding ring.

7. Ready, set, go.

You may know who you will marry and which ring to buy, but the next step is when to make the purchase. When you buy on credit you’ll have to start making payments to pay back the loan, so be mindful of that. Buying the ring too early might delay the engagement if your aim is to pay off the debt before it’s given. You should really think about whether you want to risk delaying a life event because of finances and it might be a good idea that this is also a joint decision too. If you buy the ring immediately prior to the engagement, just understand that there are many more wedding expenses coming your way. Keep moving forward and balance your lifestyle, wedding plans and credit together.


 

Time to make your decision – This is a once in a lifetime purchase and your wedding ring, wedding, and event should be perfect.

Life is about decisions and commitments, so you’ve got to move forward and get on with the wedding plans. Here comes the fun, the proposal, the wedding ring, the event, invites, food, music, joint bank accounts, the in-laws, and so much more. You’ve got to work within your means and know that if you decide to use credit it can be helpful, just keep it in check so it doesn’t get out of hand. You should control the credit and don’t let the credit control you. Take a moment to review all the wedding finance options out there and as a couple come to the final decision to make a life together with or without credit.

If there’s one thing I’d like you to take away from this posting is that getting married is one of the greatest milestones in life. This momentous occasion can be expensive but in the end is worth every penny. How you end up paying for it can vary. Whether you are paying cash or purchasing a wedding ring with credit or taking a loan for wedding expenses can make all this difference to help get you through this time.

Your finances are your private affairs, as a couple you can keep your decisions to yourself. Granted there are social pressures, especially when it comes to finances and buying wedding rings on credit; however, it’s time to ignore them. Deciding to buy a wedding ring on credit is perfectly fine if that’s your decision, you don’t have to share that with others. Start your life together on your terms and be confident in the road you take together.

Conclusion

Remember all too often you’ll buy things on a credit that are fleeting and/or impulse purchases, that’s just the truth. The decision to get married and buy a wedding ring is not impulsive and is a life choice, having some available cash and making this purchase on credit is a great solution for many. Take a close look at your own finances and carefully consider going for the ring of your dreams that can stay in your family for years into the future.

Wedding Loan

About the Author – John F 

Paying for a Wedding with No Money

Paying for a Wedding

I hate to be the bearer of bad news but, unfortunately, you have to have money to get married. Even if you do not have a big wedding, you still have to pay for the marriage license and maybe a couple of extra fees. And while a courthouse wedding is the cheapest option, I am going to assume that if you are reading this, you want to have something a little bigger and more formal. Since that is the case, let’s work on paying for a wedding with no money.

Paying for Your Wedding with No Money

Let’s look at some of the possibilities you have. Some of them will maybe seem silly to you, but all of these can actually help you get the money you don’t have for your wedding. Some tips refer to money, other to your wedding and the entire logistics behind it. So let’s start.

Be Strategic About the Date

I know that you are excited and that you cannot wait to start your life together but rushing the date will only cause anxiety and probably debt, neither of which you want. If you have no money, having a wedding in three months is probably not going to work out the way you want it to. You do not have to hold out for five years but at least several months to a year would be a good time span. That gives you enough time to save some money yet not too long.

Join Forces

As much as it seems more of the bride’s day, the groom is also involved. Once married, the two of you will be making financial decisions together and working as a team. Why not start with the wedding finance now? The two of you should work out the budget now before any planning starts. Whether you decide to spend $50 or $50,000, it is a decision you should make together and commit to. Being on the same track and holding firm as a team will not only make you feel united but will also help you stand firmer when your well-meaning mother or aunt tries to pressure you into things that do not fit in the budget.

Cut It Out

This is the first place the commitment to your budget will come into play. Thanks to TV and fairy tales, we tend to imagine weddings with all the trimmings, but you do not need them all. Decide on the things you really want and forget the rest, even if that means you want nothing but rings and a dress. You are not obligated to feed your guests- it is just a tradition. You do not have to drive away in a limo or even have a reception. This is your day and your budget.

Start Your Engines

You have your date, your list, and your budget. Now it is time to figure out how to get the money. There are five basic ways to do that: find it, raise it, make it, stretch it, or borrow it. You may be able to get all you need with only one of those options, or you may need to try a combination. Let’s go over some ideas for each option:

Find It

Want to know something that most people do not? You have more money than you think hiding in plain sight. Really. If you take a good look at the money you spend, you will see that you spend more on some things than you think and you might be paying for things you are not even aware of.

My Netflix Account

For instance, I recently made some discoveries in my own finances. I pay for Netflix every month- the package that lets you watch it on multiple devices at once. I do this because there are six of us so there is a good chance many of us will be logged on at once- or so I thought. Then, I realized the other day that my four children watch YouTube and have not logged onto Netflix in months. I decreased the package and am saving $5 a month, or $60 a year. It does not sound like much but I am not done yet.

Cable bill

Next, I thought about my cable bill, which is very high. Again, my children have not watched it in a long time and I never have the time to. I can cut it in half, just enough to keep my Internet, and still save around $150 a month, or $1800 a year. I could continue but since I am already up to saving $1860 per year, I think you get the picture.

Take a look!

Take a real look at your spending and your bills. You might find that you are getting charged for things you do not have- like cable channels or additional cable boxes. It does happen. Also, there is a nifty little app called Trim that you can link to your bank account. It monitors your spending and the bills you pay, then makes suggestions on things to cut out since you do not use it. It will also reach out to companies that you have services with and try to negotiate a better deal. I signed up without expecting much, but about a week or so later, I received an email saying that I was getting a $90 credit on my cable bill due to outages. I would have never thought to ask for that credit.

Raise It

Guess what! You are not the only one that has found themselves faced with paying for a wedding with no money. I say that because if you put effort into raising money for your wedding, people will want to help. Crowdfunding is a way to do this by using sites such as GoFundMe. You may even find an official fundraiser like with doughnuts or cookies. If you attend church, talk to some of the leaders about having a bake sale or car wash. There are people who will support you in your endeavor. You might even tell your maid of honor that instead of a bridal shower and bachelorette party, you would appreciate a monetary gift from everyone.

Make It

The best way to make money is definitely through a consistent income. If you cannot save anything from your main income, you can find an extra source to save for the wedding. This can be anything from cleaning houses to landscaping, babysitting to washing cars, delivering pizza to delivering magazines and phone books. You might also find a part time job that you can do from home such as transcription work, data entry, online tutoring, and even customer support. They may not be loads of fun and you may have to give up some free time, but if you are currently paying for a wedding with no money, it is worth the trouble.

Many people grow herbs and vegetables from home and selling them at their local farmer’s market. I personally love the idea of planting pumpkins and selling them at Halloween. There are many ways to make money that do not involve clocking in somewhere. Ask friends and family if they know anyone who might need some housework done or their office cleaned. Even if you only do a couple of side hustles, you could potentially make an extra $100 to $500 or more per month.

Borrow It

If you have done all that you can and you are still coming up short, borrowing it may be preferable to paying for a wedding with no money. There are a few different ways to borrow for a wedding: ask friends and family, use credit cards and/or lines of credit from your bank, or through personal loans for wedding expenses. Friends and family members may be willing to loan you the money for such an important day.

Then again, if you explain that you are currently paying for a wedding with no money, they may possibly gift it to you as your wedding gift. Unless you have a generous rich uncle, you may be better off asking a few different people for smaller amounts than asking someone for a large amount. For instance, you may be more successful asking five people to borrow $200 that asking one person to borrow $1000.

If you have credit cards, you might consider using them to pay for wedding expenses. Also, some banks approve their customers for personal lines of credit for weddings. Try applying for one to see if you can get approved. For credit cards or personal lines of credit, you have to pay attention to the interest rate. If the interest is low, then using these options and making payments over a year may be a good choice for you.

However, if the interest is high, a personal installment loan is probably a better choice for you. They usually have a low-interest rate. Also, the interest fixed and the payments are spread over a longer repayment period. If you have to consider loans for wedding expenses, look into personal installment loans. If you don’t have time or patience to look for a lender yourself, Loanry can help you find the best fit for you. We work with Fiona to connect you to reputable lenders quickly. How quickly?

Stretch It

When you are no longer paying for a wedding with no money, you have to be strategic again. The money has to stretch far enough to cover all of the expenses you choose to incur. Saving money on your wedding by stretching your budget is the key to making it happen in a wallet friendly way. While there really is no one size fits all approach here, the following are some ideas on how you can cut wedding expenses down:

 

Bridal and Wedding Expos

Around the times of year that weddings are about to begin, local businesses will host bridal expos. These businesses usually involve catering, photography, wedding party gowns, and more. The idea is to show you that you have these pros right in your backyard, but brides may also benefit from discounts for the participating businesses.

Giveaways

It may sound crazy, but if you see a giveaway at your local grocery store or retail store, even for a $20 prize or gift card, enter it. Sure, you may not win, but there is a chance that you will. Again, when you are paying for a wedding with no money or a low budget, you do all you can.

Yard Sales/Garage Sales

You have probably heard it 1,000 times, but yard sales are a great way to make money. You just might pay a large chunk of your wedding expenses by selling stuff you no longer use. I know a few people who have made up to $800 and $900 in a weekend. I myself have made hundreds on quite a few occasions. And before you think that we had really valuable items to sell, think again. The majority of my money came from selling outfits that I never wear and my children’s clothes that no longer fit.

Men’s t-shirts are usually a hot yard sale item. Ask your dad or a cousin if they have any they would like to donate to your sale. Ask your best friends if they have any clothes they can donate to your cause. Chances are they do. Do not be afraid to ask for what you need. If you have to choose between paying for a wedding with no money or being vocal, this is the time to be bold.

Also, do not resist putting something in the sale because you think no one will want it. Some of the things I sold the fastest were things I did not expect to be sold at all. Gather your items, advertise your sale, and make some money.

Forget Going Pro

If your budget is really tight, try to resist hiring professionals for your wedding items. It is very likely that you, a family member, or a friend know someone that can provide what you need just as well at no or low cost. You might consider hiring high school or college students for some of the work. They are always in need of some extra cash. You could hire them for things like serving guests at the reception, setting up the reception hall, cleaning up the yard if you are having an outdoor wedding, stuffing invitations into envelopes, and more. If you have a cosmetology school near you, the students will often cut or fix your hair, nails, and makeup at a good discount simply for the practice.

Taking out a Loan for a Wedding: Diamonds to Debt

There Is No Shame In the Thrift Store Game

It often makes me laugh that so many people are ashamed to shop at thrift stores and consignment shops. It is true that you will find some junk in them. However, I have kept my kids in nice, name brand clothing by shopping at thrift stores. You can find gorgeous dresses, accessories, shoes, decorations, and more.

Another overlooked treasure trove is places like the Dollar Tree. Most people have one of these around. When I was a kid, it was not an impressive store, but that has changed a lot. Every time I need to decorate for a party or event, I get those decorations at the Dollar Tree. I can decorate an entire child’s birthday party for around $20. I would pay at least double for those items in larger retailers. You may find that you can spend much less on the decorations for your wedding.

Social Media and Craigslist

Though you need to be careful, you can often find items such as wedding dresses and bridesmaid’s dresses on sites like Craigslist and yard sale sites on social media networks. Take a look and see what is available to you there.

Conclusion

If you are approaching your wedding day and you are still paying for a wedding with no money or very little, you may find yourself in need of a fast, personal loan. If you do, save yourself some time and effort by searching for loans for wedding expenses online. Good luck!

Wedding Financing Loans for the Big Day

Wedding Financing Loans

If this is your first marriage, be prepared for some sticker shock. I know I was and I got married three times! I am twice divorced and lost one spouse to illness. Each time I got married, it seemed to cost more. Over the years, it just got harder to come up with the money for a wedding. Thank goodness for wedding financing loans. With wedding finance, I was able to make the bride happy and pay for the event over time.

You may want to be sitting down when you learn the price of what it costs now. It is not cheap for even a modest wedding with a reception. Depending on where you live, it is at least $25,000 to $35,000. If you live in a major city, you may have to double or even triple this budget. Luckily, companies that specialize in wedding financing loans are available. They are able to provide loans for wedding expenses. Otherwise, many could not get married.

This guide covers the basic budget items for a wedding and reception. It gives some tips on how to save money on your wedding. It may be helpful to use wedding finance loans to pay for it all.

This guide will help you plan for the event and not forget important things. It also is useful to help couples decide about loans for wedding expenses. If there is not enough money saved, it may be necessary to get some help with a wedding finance loan.

Financing Your Wedding 101

You want the day to be perfect but you also do not want to go broke in the process. Wedding financing loans are available to help out. There is also the honeymoon to think about. The number one thing that young couples fight about is money. Those who take advantage of wedding financing loans can spread out the payments over time.

Wedding loans help so that when a couple gets married there is not the overwhelming pressure of the gigantic wedding expense to pay all at once. Even when parents help out, wedding financing loans can be very useful. When you think back about your wedding day, you want to think about happy times, not all the huge bills you suddenly had to pay. Let’s examine the lowest cost approach with an elopement. Let’s compare this with the cost of having a big wedding and reception.

The Low-Cost No-Frills Elopement Wedding

In most American cities, it is possible to get married at City Hall. You simply get a marriage license and pay some small fees. It is possible to get married for under $200.

Those who don’t need wedding finance for the expenses of a big ceremony may still take advantage of wedding financing loans. This can give them the money they need for a spectacular honeymoon. Have a cheap wedding and then go to Tahiti for a couple of weeks! Sounds good, doesn’t it?

Las Vegas Wedding

Flying to Las Vegas is popular because there are plenty of low-cost wedding options. There are inexpensive wedding chapels and even a drive-through chapel. A Las Vegas wedding can cost around $400 for just the marriage license and the ceremony in a simple chapel. If can cost $5,000 to $15,000+ for a wedding and reception at a major hotel. Room rates for the duration of the stay and airfare need to be considered.

Here is a sample of the budget for a modest wedding in Las Vegas:

  • Airfare (round trip for two) – $1,500
  • Hotel Room (three nights at a luxury suite @ $500 each) – $1,500
  • Wedding Ceremony Venue Rental – $500
  • Marriage License – $100
  • Officiant for Ceremony – $150
  • Wedding Dress – $1,000
  • Tuxedo Rental for Groom – $100
  • Flowers – $100 (one bouquet and one boutonnière)
  • Photographer – $800
  • Restaurant meal and drinks for eight people – $600

Total $6,350

This amount is perfect for those who need help with wedding financing loans. It is fairly easy to get loans for wedding expenses when both members of a couple are working, even if their credit history is not perfect. There are wedding loans for bad credit too.

If couples want to have a bigger wedding and need $15,000+ there are loans for wedding expenses that are available for higher amounts as well.

The Big Fat (enter your style) Wedding

If you want to go for a big wedding and a fancy reception, your wedding budget will need to be substantially higher than a low-cost, no-frills elopement. Make yourself a cup of tea. Then, sit down and be ready to concentrate on the expenses for your wedding and reception.

Wedding Budget

Here are the items to consider for a big-budget wedding of between $15,000 to $100,000. The average wedding cost in America is around $26,000. Half of the couples getting married spend less than $15,00. The other half spend between $19,000 and $32,000. This does not include the cost of the honeymoon. You could spend many millions on your wedding if you are super wealthy:

Pre-Event Expenses

Wedding Planner

Budget 10% of the event budget for a wedding planner. This means the fee to pay a wedding planner for a $15,000 wedding should be $1,500. Be sure that your contract with the wedding planner does not allow this professional to “double-dip.” This means that they get a kick-back for the purchase of the event’s goods and services. It is reasonable if they get kick-back as long as you know this is happening.

If the planner is being paid a commission for the things that you rent or buy, then their fee should be lower. You can double check the budget by shopping for major expense items. For example, find out the cost of renting chairs and tables on your own, to make sure you are not overpaying.

Stationary, Printed Items, and Postage

For this expense, budget $5 to $10 per attendee. This category includes things like “save the dates” notices, invitations, RSVP cards, dinner menus, programs, place markers, escort cards, and thank you notes.

Prenuptial Agreement

This is an optional expense that costs between $5,000 to $10,000+. It is a legal contract that used when one of the spouses has significant assets. It identifies assets that are not part of any future divorce settlement.

Wedding Ceremony

Marriage License/Marriage Certificate

This license comes from the county clerk’s office and gives permission for a couple to get legally married. The license cost is usually only a small fee of less than $100. After the couple is married, the officiant (person who performed the wedding) registers a marriage certificate. The registration goes back to the same county clerk’s office for the marriage license. The county clerk gives the couple a copy of the registered marriage certificate.

NOLO identifies many frequently asked questions about marriage requirements, which is a good reference to use. This website gives good information about same-sex marriage, civil unions, how to get a marriage license, who can officiate at a wedding ceremony, and more.

Officiant for Ceremony

The officiant is the person who performs the wedding ceremony. The normal fee for this service is around $100 to $150. Make sure he or she meets the requirements of the county that allows them to officiate over a wedding ceremony.

Venue Rental

The cost of renting a venue can be from $500 to $5,000 depending on how luxurious it is. If you go for a larger Vegas wedding, the casino resorts have lavish spaces within the hotels.

Flowers

Typical budgets for wedding flowers start at $500 and go up from there. Flowers for the wedding ceremony may include a bridal bouquet for the bride, a garland for her hair, flowers for all the bridesmaids to wear, and boutonnières for the groom and the best man. A flower child or children may wear flowers in their hair and throw rose petals on the path that the bride will walk down. There may be opportunities to decorate the wedding platform or an altar depending on the style of the ceremony.

Music

Some like to use a simple audio setup with speakers on stands and the ability to play CDs. These systems rent for a modest price of around $100. Others like to have live music performed by a solo artist or an ensemble. A classy wedding might have a harpist for calming music and a piano player for a robust rendition of Heres Comes the Bride. Add $50 to $100 to the budget per performer for live musicians unless you happen to have friends who are really talented and want to perform for free.

Wedding Dress

This category is the one place that may take the budget to the stratosphere. A lavish wedding can get by with a wedding dress that costs under $10,000. Most of the super expensive wedding dresses that I love are out of reach for regular people; however, we can dream a bit about them.

Most expensive wedding dresses

Finances Online has a list of some of the most expensive wedding dresses in the world, which are for sale and these include:

  • Carat Gems Wedding Dress: This dress is handmade from 9,999 gems featuring a theme based on the light blue color of aquamarine decorating a white satin gown. The price is a paltry $158,874.
  • Platinum Wedding Dress: This elegant red dress is an Asian style that has platinum-thread embroidery. It is only one-quarter of a million dollars.
  • The Maurio Adami Designer Dress: Italian designer Adami made this dress with platinum threads for the delicate embroidery. It is white satin with a lovely embroidered floral design. The price is $372,564.
  • The Peacock Wedding Dress: This dress is handmade from over 2,000 peacock feathers that make a shimmering colorful bridal train that flows behind the wedding gown. The feathers were carefully collected from the natural molting of feathers so no birds were harmed making this stunning dress. It is available for $1.5 million.
  • The Diamond Wedding Gown: If money is no object, you might choose a white satin gown decorated with hundreds of sparkling diamonds. Beverly Hills designer Renee Strauss made this spectacular dress. Strauss is one of the designers who is favored by Hollywood celebrities. The design is such that when the bride moves, the light reflects off the diamonds creating an eye-catching sparkle with every turn. Its price tag is just $12 million.
  • The Nightingale of Kuala Lumpur: This is a one-of-a-kind wedding gown, which currently holds the top spot for the most expensive wedding dress for sale in the world. Fashion designer Faisol Abdullah from Malaysia made it. It has 751 diamonds sewn on stunning, red-satin fabric and sells for $30 million.

Dresses for Bridesmaids

If you still have money in the budget after buying the wedding dress, one popular thing to do is to have all the bridesmaids wear matching dresses. Budget around $1,000 apiece for these. You might want to consider buying them off the rack at a fashion store outlet to save some money.

If you have enough time before the wedding, you can order them to be custom made by workers in Hong Kong or other Asian countries. Just be sure you get the measurements of the bridesmaids correct before ordering the dresses. And then, hope that none of them will get pregnant or gain a lot of weight before your wedding ceremony.

Makeup/Hair

A decent budget for this category is $30 to $50 per person.

Tuxedo for Groom and Best Man

Dressing men for a wedding is so much easier and cheaper than dressing females. Even the most expensive tuxedos rent for only around $150 to $200 per day.

Limo

A wedding without a stretch limo to drive the bride and groom to the reception is missing something very important. Throw rice at the bride and groom as they leave the wedding chapel for good luck. Be sure to mark up the limo with shaving cream as “Just Married” and tie cans with string to the back of the car. For the rice, shaving cream, cans, and limo, budget around $200.

Half Way There: Saving on your Wedding is more important

Save Money on your Wedding

Get another cup of tea because we are only half way through the items needed for a wedding event. Next comes the reception. Already you must be thinking about wedding financing loans. Don’t worry we’ve got you covered. We can help with that process of finding a loan because we have good sources of loans for wedding expenses.

Wedding Reception

Venue Rental

The cost of the venue rental depends on how luxurious you want it to be and how many people will be at the reception. One solution is to rent out the nearest country club and then invite hundreds of your closest friends and relatives. In this category, you do not need to stick with traditional settings because a wedding reception is supposed to be fun.

I have been to some wedding receptions that were unusual such as one that offered hayrides to a chuck wagon camping-style cook =out and barbecue. That one was a blast! The cost for the venue was not so much, at around $1,000, because everything was outside in a rural, rustic area.

Food Catering

The budget for food is fairly easy to calculate if you hire a caterer. This category includes the food, the flatware, and the china needed. It also includes the staff to serve the guests. You can simply decide on a price per plate and come up with a nice menu that meets your budget. If you have $25+ allocated per person you can have a nice meal for everyone. Be sure to accommodate any special food needs by asking guests to state their food needs on the RSVP when inviting them.

Bar/Beverages

A caterer can handle this as well. This category includes both alcoholic and non-alcoholic drinks, the glassware, condiments, and bartenders to serve the drinks. Having a similar budget for the drinks as for the food is about right at $25+ per person.

Wedding Cake

A wedding cake can be many hundreds of dollars. Don’t forget to add the cutting fees if the reception is held in a venue such as a country club.

Servers

Be sure to have plenty of servers. If you hire a caterer then this is included in the catering bill. Otherwise, use $15 per hour per person as a minimum for wages and payroll taxes.

Cleanup Crew

Sometimes the cleanup is included in the rental price for the venue. If not, then also use $15 per hour per person as a minimum for wages and payroll taxes.

Limos

It is a good idea to have a few limos available to take anyone home from the reception that has been drinking alcohol. This is a better idea than letting anyone who is drunk drive themselves. Limos rent for about $50 to 100 per hour.

Photographer and Videographer

A wedding photographer charges around $1,000. A videographer charges about $2,000. It is a good idea to scatter disposable cameras around at the reception. Guests can take snapshots and turn the cameras in before going home. This is a fun inexpensive way to add to the photo collection for the event. These cheap cameras cost about $15 each.

Decorations

This category includes flowers for the tables, perhaps candles, and wall coverings. It is nice to have a guest book as well. Count the tables and add $25 per table to the budget for this category.

Rentals

This includes any lighting, sound reinforcement (speakers, mics, etc), tables, chairs, linen, staging, and the dance floor, etc. This rental category is anything that is needed, which has to be brought in, for the venue to accommodate the reception guests. This can be a few hundred to a few thousand dollars depending on what is needed.

Entertainment

A DJ costs about $250. A full band is around $500 to $1,000. Bands that play cover tunes of the popular songs are usually the type hired for wedding receptions in order to please most of the crowd.

Miscellaneous

This category includes gifts and party favors. You can use a budget of $20+ per person for a gift bag.

Contingency

Add 10% to the total budget to cover any unexpected expenses.

Conclusion

I know this is a bit daunting. For sure, if you are like most people, you will likely need some financial help to make sure everything is covered. Most need loans for wedding expenses. They feel like it gives them more peace of mind to enjoy the special event after considering the pros and cons of wedding financing loans.

In fact, the total budgets that are predicted compared to the amount actually spent are one of the main reason for wedding financing loans. All the little things add up. It usually ends up costing more than estimated so it is best to get a referral to a company that provides wedding financing loans.