Should you take a loan out for wedding expenses? It is no secret that weddings are very expensive. The average wedding in 2022 is around $27,000. That is a good down payment on a house. So, what are your options? Taking out a loan for your wedding expenses is not your only option. Every option you have will have its pros and cons, you just need to figure out what works for you.
Credit Card
Let’s start with credit cards. A credit card may be a perfect way to go when planning a wedding. First off, you have built-in protections for every purchase made. As we all know, wedding planning can be stressful.
Let’s say your photographer calls two weeks before the wedding and has to back out. You can dispute the charge with your credit card company and save you the hassle of trying to get your money back.
Additionally, rewards cards are designed to pay you back with cash, mileage, and points. You can use all the rewards for your honeymoon!
Loan
Additionally, If the credit card isn’t enough or you don’t want to use your credit card for whatever reason, you can take out a loan. The type of loan you would need to take out would be a personal loan.
Personal Loans for weddings range from $1,000 to $100,000. Having a loan for your wedding day could give you the wedding of your dreams without having to watch the budget. On the other hand, it could lead to overspending.
Taking on debt may not be the way you envision starting your future. There are MULTIPLE ways you can pay for your wedding. Let me preface this by telling you that you do not need to spend $27,000 on your wedding. Using part of your savings for your wedding day might be the route you want to take so you do not have to go into debt!
Complete Weddings + Events Spokane, Washington
At Complete Wedding + Events, we specialize in saving you money when planning your wedding. With our professional Photographers, Videographers, Day of Coordination, DJ, & Photo Booth under one roof, we can literally save you thousands of dollars. If you want to learn more about our services and pricing, PLEASE reach out on our website. To keep up with the latest that Complete Weddings + Events has to offer, visit our Facebook and Instagram.