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Wedding Loans: Paying for Wedding Expenses

Wedding Loans

Asking a bank for a personal loan to pay for a wedding may raise a few eyebrows, but this is becoming more and more common. Couples who want an informal wedding with around 50 guests and a modest reception can expect to see a bill around $5,000. For a bride and groom who want a traditional wedding with around 100 guests and a sit down dinner reception may pay more than $30,000. Paying for a DJ, a wedding dress, tuxedo rentals, the wedding and reception venues, food, a wedding cake, decorations, transportation, and hotel rooms can be funded through a low interest wedding loan.

With fixed rates and upfront terms, a personal loan offers borrowers cash to use however they decide. Frequently, a wedding loan is a lower cost alternative to credit cards, saving newlyweds more money. Skip traditional financing by applying for an online loan and receive faster approval and fairer rates.

1 in 7 couples delay a wedding celebration due to insufficient funds. This statistic doesn't indicate that 6 out of 7 have sufficient funding, it means that most couples may not have the luxury of waiting. They may have kids that would benefit from a single family unit home, a grandmother in her nineties that may unfortunately not be in the greatest health, or a great desire to get married sooner than later, no matter the costs. More affordable and less taxing financial alternatives to credit cards or asking family can offer you and your spouse a peace of mind.

71 percent
According to a Federal Reserve report, this is the percentage of Americans ages 18 and up who own a smart phone and have access to online financial services and products.