A loan before the wedding – is it worth it?

How much do the wedding cost? Where to get money for it? Is a pre-wedding loan a good idea? Is it possible to credit only part of the costs? And is money always the most important decision criterion? Check out what to know when planning your wedding budget.

The organization of a wedding and reception is, apart from buying a house or flat, one of the biggest expenses in life. Of course, the amount of costs depends on the expectations of the bride and groom and the number of invited guests, as well as the nature of the wedding. However, it cannot be denied that this is an expensive undertaking that requires considerable financial outlays.

 

What is the cost of a wedding and reception?

What is the cost of a wedding and reception?

It all depends on the form of celebration we decide on. If it is only a ceremony at the office, after which you invite guests to dinner at the restaurant, the costs will not be too high. Usually such celebrations are organized for a small group of guests, therefore one key criterion will be the so-called price per person per plate. Depending on the city, it can range from 100 to even 200 USD per person. You will then avoid the costs associated with church fees and the setting of the wedding (music, decorations, alcohol, food and service for several hours, accommodation or transport of guests). Of course, you have to take into account costs such as: dressing up of the bride and groom, fees at the Registry Office, wedding rings and any car, which you will leave from the office to the restaurant waiting for you.

The cost of such a wedding, assuming that it is organized for about 20 people, fluctuates around the amount of 4 10,000, including the bride’s dress and accessories, which can cost a lot. This is an upper price level, because you can try to reduce costs and fit within 4 7,000 by choosing a less reputable restaurant or buying a second-hand gown.

When organizing a church wedding together with a typical Polish wedding, the costs are much higher. First of all, they are usually organized for a larger number of invited guests, therefore it is a considerable expense. Also, the price for a “plate” with a menu containing dinner, cakes, several hot dishes and snacks, and service lasting over a dozen hours is much higher. Most often it is from 200 to 300 4 per person. You should also take into account the costs associated with the interior of the hall and additional attractions that will grace your celebration. The musical setting of such an event also costs from 2,000 – 3,000 USD for a DJ, up to 4,000 – 5,000 USD for a band or orchestra. In addition, church and official fees, wedding rings, church decor, vehicle and the clothing of the bride and groom. The cost of such an event for about 100 people is a cost of around 50,000, which can grow indefinitely depending on the wishes of the bride and groom.

 

Where to get money for a wedding?

Where to get money for a wedding?

There are usually 3 outputs from this situation:

  • putting own funds away from current income,
  • asking for financial support for loved ones,
  • loan to finance the wedding and reception .

Each solution has its pros and cons, so it’s worth considering them carefully before making a decision.

 

Self financing your own wedding reception

wedding reception

It’s a big challenge. As for the party and the modest celebration, the required amount can be collected in a year or two of the extras received at work from the titles of awards, tax refunds, holiday allowances, compensations for “holidays under the pear tree,” etc. Many future spouses also decide for additional employment to raise funds. In the case of a larger event it is much more difficult, therefore, most often young couples decide to temporarily go abroad to quickly collect for their dream party.

 

Parents pay for the wedding

Parents pay for the wedding

One of the most common financing options for the venture. The parents of the bride and groom contribute to the budget of the wedding, so that the young have a larger amount at their disposal. However, this involves many additional, not necessarily positive situations. First of all, we usually have to take into account the opinion of the family on the subject of organization and all related aspects. Brides are often already sufficiently stressed by the organization of the event, and the constant interference of parents or in-laws only intensifies this. Often, the divergence of opinions is so great that they cannot be reconciled. Asking for family financial support also has a second, not only measurable, monetary effect: we incur a considerable debt … gratitude. Everyone who finds themselves in such a situation knows that this is a very uncomfortable situation. In addition, it may require a loan reimbursement due to family conflicts, not necessarily within the time limit according to your options.

 

Wedding loan

Wedding loan

A pre-wedding loan is often the option to finance it. It has a lot of advantages that allow a young couple to prepare for the wedding at their pace and on their terms. This allows you to reduce the stress of preparation and gives you the confidence that you will be able to settle accounts with contractors regardless of the generosity of your employers, parents or guests and the content of the envelopes they give. What are the main benefits of such a solution?

  1. You don’t ask your family for financial support, so you don’t have to reckon with their opinions and you don’t have any debts of gratitude. You have complete freedom in organizing the ceremony, no one can accuse you of wastefulness in financing specific elements of the event (e.g. you can easily buy your dream wedding dress without the stingy comments of the mother-in-law).
  2. You can spread the loan repayment into convenient installments, without risking that in case of conflicts with your family you will be forced to pay back at the wrong time, or worse, the family will delay transferring your promised funds and you will have problems with billing for services.
  3. If you are not able to finance the wedding in any other way, you cannot or do not want to count on the help of the family, and you care about getting married, this may be your only option. It is worth analyzing the offers of institutions offering their financial products so that the wedding loan is beneficial and secure.
  4. With a loan, you can only fund the missing part of the wedding budget that you didn’t manage to put aside. Thanks to this, you will reduce any loan costs and ensure your liquidity without the risk that you cannot cope with paying too high installments.
  5. Taking a joint loan for a wedding, you will check your partner. This is a good test for a relationship, especially if you have a loan for an apartment or house. It will also help you build a better credit history that will positively impact the possibility of lowering your mortgage costs in the future.

To sum up, there are many possibilities and ways to finance a wedding and reception, as well as a large discrepancy in the possible costs of organizing the event. The most important is to choose a solution ideally suited to your needs so that this special day looks exactly as you dreamed of.

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