Wedding Loans

I agree with everyone else, do not do it. You don't want to start your marriage off with debt. Just have a longer engagement and save for what you really want.

Bad, bad, bad idea. After we did our budget, FH took out a new credit card that's 1/3 of our budget. We only use it for deposits and will have the balance paid off before the wedding. Don't have a wedding you can't afford.

??? And that's suppose to mean? @Cathy

Um.....Jamie? Your OP, with "OWN" capped clearly made it sound like you thought you were a special snowflake because you are paying for your own wedding.

And you're not; many of the couples here are paying for everything. Now, I'm sorry that unforeseen circumstances cut your income flow, but honestly? Unforeseen circumstances should be provided for way before you think about spending multiple thousands of dollars on a party.

Let me restate that. If you don't have an emergency fund, you don't throw a giant shindig that will take all your money and have no plan B if, say, someone gets sick, loses their job, etc.

Start regrouping kiddo.

I mean you did kind of emphasize that you were paying for it yourselves like that was different or something.

I digress. It's a public forum and people can post as they like.

Definitely wasn't my intention to sound like I thought I "...was a special snowflake"...wow...but um okay, like I said earlier thx for the advice everyone and um, judgments I guess.

Definitely wasn't my intention to sound likes bitch either.

Honestly - unless we are talking about $1,000 left to pay off - talk to the vendors about shrinking things..... Do not throw good money after bad....

I have a credit card with no interest - I put larger expenses off and paid them off over 2-3 paychecks - I have savings I could use but I did not want to, and my credit card gives me 2% cash back.

I'm sorry for your unexpected health issue but you should have had a backup plan.

And I was about to jump on you as well for saying you have to pay for your wedding out of your own pockets. Whose pockets was suppose to pay for it? Ours???

FH and I have a joint savings account that we are using for wedding related expenses. BUT besides that we have our own checking accounts and savings accounts. This wedding is being paid for via cash. Most of our vendors (especially the venue) does not accept credit card payments.

I had an unexpected health issue arise as well but I was able to go into my personal savings account to pay for it rather than having to dip into the joint account. You need to prepare for these things.

ETA: spelling

I know you want a dream wedding. And I know it totally sucks coming to terms with the fact that things are expensive. At the end of the day though do you really want to start your marriage by being in debt? If you want a big giant affair why not delay till you have the money?

Let's keep this on track without the personal jabs.

Jamie, it looks like you may not be aware that the old traditions of the couple's families paying for the wedding are mostly a thing of the past. Today's couples are paying for their own weddings. Some family members may offer to contribute, but it can't be expected or requested.

And any kind of debt for a wedding is a pretty bad financial move. Sometimes life hands you some bad circumstances, and you can't afford the wedding you originally wanted. But it's best to roll with it and cut back where you need to. You'll be just as married after a small, intimate wedding or an elopement as you would be with a grand, expensive event.

Sorry to hear about your health issues. Hopefully you have not sent stds and you can still cut your guest list. That would be the easiest way to cut down on cost. Consider cutting down on vendor packages, less hours for photographer, cut out floral centerpieces, remove unnecessary stationary like menu cards or programs, cut our hard liquor and just serve beer and wine, cut down on apps or late night snack exc...

The harsh reality is that if being out of work for two months sets you back that much and you didn't have enough additional savings to cover that, you were already spending more than you should have. Downgrade or postpone. I assume your invitations haven't been sent out, so you could look into changing the time of the wedding to be a non-mealtime.

My student loans stress me out! Sadly, they're a necessary evil. Don't take out a loan for your wedding. You don't need an extravagant celebration. You don't want to start your marriage out in debt from your wedding.

Richard and Celia have excellent advice, as do most (not all) PPs on here. It's not financially sound to go in debt for something that gives you no monetary return. Like PPs have suggested, work w/ your vendors - downsize, re-evaluate and compromise.

And a ton of us on here paid our weddings by ourselves. It can be done and it can be the best day, no matter how much you spend on it. Just spend wisely and responsibly. You want to start this new chapter in your life w/o the stress of added debt. Seriously.

@GymRat honestly I've known so many other couple that have parents pay portions or they're given money towards it...so, completely my fault for making a quick assumption in my head that it was maybe a normal (?) thing to have help financially. (And my tone is sympathetic, not sarcastic) I'm very new to all of this just as much as any one else on here is...

Maybe the topic was way too personal to even post about, but again all the advice is appreciated...I truly am aiming to avoid the idea at all. Rebuilding the savings is taking longer but it's happening...

You think you're stressed about finances now? Just wait until the wedding is over and you're paying back those loans. Don't do this.

We have taken out a small personal loan as due to a medical issue we have been a year basically on one paycheck. We used the wedding money to make it through that year. This is our day and we will have it our way. You only have one wedding and I'm having my first at 50. Do what makes you happy and what you can afford, but don't cut so far back that there is I wish I would have... This is your day and if a small loan will get you what you want do it! Make it the priority to pay off first.

I was engaged previously several years ago. We postponed (and eventually cancelled) our wedding about four months before it was scheduled. I called all my vendors and they were willing to honor my deposits when/if the wedding was rescheduled. They could not guarantee their prices would be the same but I wouldn't have had to pay deposits again. Talk to your vendors and see what they offer in this regard. Let them know you have had some health issues and were out of work and are thinking of postponing. The worst thing they can say is no but you won't know unless you ask!

We took out a very small loan (under 5K) from a credit union. We have already begun paying it back and can do so comfortably within two years. It's a small supplement to what my parents are contributing.

I think it's a personal choice but one I didn't take lightly. I put a lot of thought into it. Would I be losing sleep if I borrowed a larger amount... Yes!

Good luck