How many are considering actually taking a loan out to help pay for the wedding?
peabody
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Re: To borrow or not to borrow?
No. This is just my opinion, but it is not worth it for just one day.
We paid for our wedding ourselves (from my dress to the reception to the Dj to the favors etc....), so I do know how hard it is. But I just wouldn't put ourselves in debt for one day.
It can be done.
gNi1125
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Re: To borrow or not to borrow?
Dont think I would borrow. Just do the best I can with what I can. JMO.
bellaex23
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Re: To borrow or not to borrow?
we're prob going to have to...my parents will be able to give us some, but it wont be enough, & we have NO $ saved yet. so we'll prob take out yet another loan. ugh!
Thumballina
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Re: To borrow or not to borrow?
We wouldn't...its not worth putting ourselves into debt for one day...esp since we need a house alot more than a 'huge' wedding with the works...we'll make do with whatever we can afford
M&LSept1606
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Re: To borrow or not to borrow?
we're saving all the cash we can to put down on a house. We are also paying for all the extras and vendors cash. But, we're borrowing the reception money from my sister. So if you can borrow from family that's different than taking a loan out from a bank.
We're dong this because it's important for us not to waste money on rent. We want to make an investment for our future.
Also, if you have to borrow money you won't be putting yourself in debt. Most people (I would assume) take out a personal loan and pay it right back when you collect those envelopes at the end of the night!
suven
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Re: To borrow or not to borrow?
Posted by peabody
No. This is just my opinion, but it is not worth it for just one day.
We paid for our wedding ourselves (from my dress to the reception to the Dj to the favors etc....), so I do know how hard it is. But I just wouldn't put ourselves in debt for one day.
It can be done.
Don't DO IT! I KNOW that if feels like it's SO important! (and, it is).
But, BELIEVE ME, as soon as the day is done, you will immediately start to question the money you spent, and even wish that you made some cuts.
You have NO IDEA how I HATED making my final payments after the wedding was over- to get my photos and video.
Ugh- if I would have had a LOAN on top of that, I would be horribly miserable!
shamrock12472
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Re: To borrow or not to borrow?
We borrowed on our home. We were lucky enough to great purchase price so we did a 'bridge' loan to pay for the wedding and then we paid it back when we got back from the honeymoon. We only had to borrow about 15K and the rest was paid in cash by us.
J&S
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Re: To borrow or not to borrow?
We got a couple of those credit cards where you don't have to pay them off until 2006. We are trying to put as much of the wedding expenses on that (the vendors let us charge). Also we put other non-wedding expenses on there that way we will have money to pay the vendors that we do have to pay cash. Just a suggestion.
janwinterbridejoy
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Re: To borrow or not to borrow?
we paid for everything in cash so if we didnt have the money for it we didnt get it. i think it helps in the long run because you dont spend what you dont have. so you dont have to start out your lives together in debt for something that was one day and you cant live in or drive. i have friends that are married 3 years and still pay credit cards off that used for there wedding its awful and because there credit is far extended it was hard for them to get a good mortage
akaMrsT
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Re: To borrow or not to borrow?
We are not borrowing. If we don't have the cash, we are not getting it. It's not worth it to go into debt for one day.
I do know that a friend and her husband borrowed for their wedding. She told me they used a new - no interest card. I think she said Bank One offered it - no interest until December 2005. The wedding was a few months ago.
However, they already own a townhome together so they did not have to worry about messing up their credit rating by having one card with such a large amount charge against the credit limit.
My former step-sister also borrowed (from family not a bank or credit card) to pay for her $60K wedding. She will have it all paid off by this summer. Her wedding was summer 2003 though.
chachou22
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Re: To borrow or not to borrow?
I dont think you should, because when the day is over you want to live with no regrets and debts
marc_rai
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Re: To borrow or not to borrow?
NO
Robinella
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Re: To borrow or not to borrow?
no way..if you can't afford it dont do it..cut down size of wedding, choose a less fancy wedding reception, or have a lot of DIY parts of your wedding. Soooo not a good idea to take out a loan!
mfrsfeb
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Re: To borrow or not to borrow?
My advice would be DO NOT borrow, as others have said it is one day. You can cut back on areas you think you MUST have. Look really carefully at what you want and what you need. For me, I want many things but I know I can't afford them. I can get caught up in things I really want but then the budget strikes again! In the long run I want a house. Make a list of your priorities and go from there. Good Luck!
