If you are not going to run away with a beloved one, you will obviously need much more than just luck to survive your wedding day. The first important decision made by a new couple is how to pay for the wedding.
You must pay attention to the average prices of weddings in your area and estimate how much money you are going to spend. In average couples spend between $15,000 and $45,000. And this is not a limit. So you should decide if you want to make quiet wedding or make a wedding of the year.
According to the research, despite all plans and budgets the spend amount exceeds the planned one almost twice. So you should be ready to such dramatic change, or try to avoid all unnecessary expenses. This is a day for both of use, so you should make all decisions together and be rather financially shy. You should determine what is important for you. Do you want to impress all the guests or just want to make this day memorable to you?
There are a lot of examples of couples who made a good, but not expensive wedding. You should not wait for familiar places or see fashion dress, but is this so necessary eventually? I think that you should not just follow the trend and throw away all money you have been saving for ten years. It all has the other purpose.
However if you really have a dream of wealthy and beautiful wedding, you can always find some rich relative or just use the other opportunity. You may always take a wedding loan with not very high interest rate that is about 7.5%.
This is an ordinary personal loan that you will have to repay during from three to five years. The rates can be higher that an ordinary loan union proposes to you; however this is just advertising. The main thing you should understand that you don’t need to take the whole amount. You can take some additional money to cover particular expenses. You may also try online loans with this company to solve some financial emergencies. This loan union offers short-term loans that will not hurt your budget and you will be able to repay it during a month.
You should always think about the other types of loans. It is always beneficial to take a home equity line of credit (HELOC), the interest rate of which is quite low. Also it will help you to reduce your tax rate unlike the personal loan. But for this option you need some serious security to put up. For example you can put up your home, but not many financial advisors will recommend you to make such decision.
There is another opportunity to get necessary amount of money. You can always find a relative or friend who can borrow you this money. In such case you should make a full agreement according terms and conditions that you will have to fulfill. This will help both of you to benefit. The lender will have higher percent, and you will have lower interest rate.
So you have a lot of opportunities, but the main recommendation is to follow your own plan and try to stay reasonable in taking any wedding decisions.