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Finance Your Dream Wedding Celebration with a Personal Loan

Finance your Dream Wedding Celebration with a Personal Loan Planning your wedding should be fun and exciting. Your dream wedding may cost more than you dreamed. Although a class in wedding finance probably doesn’t sound fun, it could help you.


If you want to avoid a night class, start by creating a realistic budget of what you can afford on your own. That may not cover everything you’d like to have but it does provide you with a starting point. Consider what you just cannot do without. Maybe you have to have your dream dress and tux. Perhaps room for 150 guests is necessary. A bride and groom with special dietary needs would focus on spending for the reception. Decide at the outset what matters most and budget with it in mind.

The average cost of a wedding with 175 to 200 guests is more than $20,000. Wedding planners counsel engaged couples to plan for costs of at least $5,000 for a small wedding. Depending on the area of the country in which you live, you may need to add 15 percent to that cost.

The days of the bride’s father paying for the wedding ended. Couples pool their funds now and marry later in life than in previous generations.

Financing Options

The result of the change in financing means future married couples have to look at all the options. In the 21st century, many ways exist for people to finance their wedding.

  1. Sell some stocks or a mutual fund. Selling off some investments lets you obtain quick cash with only the broker fees and trade fees to pay. You will not have anything to pay back.
  2. Consider taking out a loan for a wedding. Regardless of your credit score there are loan options. You can find options for wedding loans for bad credit, among other loan options on, an interactive loan mall. You will need to pay loan interest on this type of financing.
  3. You could use a short-term emergency cash loan for wedding expenses. This could be a payday loan or a loan with a term of a few months to a year to pay back. You will still need to pay loan interest on it.
  4. Saving up for your big day. You can create a wedding fund long before its time to walk down the aisle. Financial planners generally counsel people to wait to get married until they have enough money saved to pay for it.
  5. Tap your home equity for a loan. Home equity loans only charge about one to three points above the prime rate, so they do not cost as much to pay back. You may be able to deduct the interest on your taxes. You can either pay only interest each month, then a balloon payment or you can parse it out as equal payments.
  6. Borrow against your whole life insurance policy. You can borrow up to the full cash value of some policies. This option provides you with lower interest rates. This option reduces your death benefit though. The specific allowed with this option varies by insurance company so you need to check with your insurance agent.

Paying for the Big Day

While it may seem impossible to come up with $5,000 to $20,000 to enter wedded bliss in style, you can do it. Today’s financing options offer numerous types of loans for wedding expenses, investment options, good ole saving accounts and leveraging financial instruments like life insurance to cover all the expenses.