澳门六合彩开奖app

A wedding is a wonderful celebration of love, family and friendship, but it can also be a headache. Without careful planning, the perfect venue, dress, flowers, d茅cor, and food and drink for your friends and family can break the bank. According to , the average cost of a U.S. wedding in 2023 was $35,000, a $5,000 increase from the previous year鈥檚 national average (and that doesn鈥檛 include the honeymoon!). With prices rising due to inflation, weddings just keep getting more expensive. 

So, what makes a wedding so expensive? According to The Knot, the most expensive wedding costs in 2020 included:

• Venue: $12,800
• Engagement ring: $5,500
• Reception band: $4,300
• Photographer: $2,900
• 贵濒辞谤颈蝉迟/诲茅肠辞谤: $2,800
• Rehearsal dinner: $2,700
• Videographer: $2,300
• Wedding dress: $2,000
• Event rentals: $2,000
• Catering (per person): $85 (If your guest list includes 100 people, that鈥檚 a whopping $8,500!)

And this doesn鈥檛 include some of the hidden, easy-to-forget charges like gratuities and service fees, all of which can substantially increase the cost of your wedding. 

Plenty of people don鈥檛 have that kind of cash on hand to finance their dream wedding. If that鈥檚 you, then you may be thinking you need to take out a personal loan to pay for your wedding. But are wedding loans a good idea? Here are some of the pros and cons to consider when you鈥檙e thinking about taking out a personal loan to cover your wedding. 

Pros of Getting a Personal Loan to Pay for Your Wedding

• If your credit score is in good shape, and you have a steady, good income, then you鈥檙e in luck: Wedding loan lenders will take your income and credit score into account when deciding whether to extend the loan to you. In these cases, a wedding loan is generally easy to secure. 
• If you鈥檙e torn between taking out a personal loan and financing your wedding with a credit card, it鈥檚 worth knowing that interest rates on your loan will usually be lower than on a credit card 鈥� especially if your credit score is good. 
• It鈥檚 relatively straightforward to get a personal loan to pay for your wedding 鈥� the application process typically only involves a little bit of paperwork. 

Cons of Taking Out a Loan for a Wedding

• Many people begin a marriage with outstanding debt such as student loans, car loans, a mortgage and more. If you or your partner (or both!) are already carrying debt, then you鈥檙e just adding to the pile, leaving you with extra payments to make for several years or more. Beginning your marriage with extra debt could add extra pressure to your relationship.
• Loans incur interest, which means that you鈥檒l be paying off the loan for years 鈥� and the total amount that you pay out may end up being far more than what you borrowed. 
• If your credit score isn鈥檛 good, beware: taking out a loan for a wedding with bad credit can mean paying high interest rates.

Other Wedding Payment Options

Maybe taking out a loan for your wedding doesn鈥檛 seem like the right option. There are plenty of ways to have a beautiful, memorable wedding that you鈥檒l treasure for a lifetime without breaking the bank or getting into more debt.

Consider a Longer Engagement

Slowing down can mean extra time to put money away for your wedding during your engagement.

Ask Your Community to Pitch In

It鈥檚 not everyone鈥檚 style but consider whether it鈥檚 worth rethinking the 鈥渕ust-haves鈥� of the standard wedding. Perhaps a friend or family member possesses a skill like cake-baking or photography that they鈥檇 be willing to give you to celebrate your marriage. Or maybe you鈥檇 like to have a potluck at your wedding or ask friends to compile a wedding playlist for the dance floor. Not only will you be reducing expenses, but you might just discover the event is even more memorable because of it. 

Create a Wedding Budget and Stick to It

It鈥檚 easy to inflate your budget as you go through the planning process. Instead of booking an expensive outdoor venue, you could go with a quiet backyard wedding, or instead of a live band for the reception, you could consider a DJ. 

• Downsize your guest list. It鈥檚 always hard to cut people from your guest list but opting for a smaller wedding may be one way to have the day you鈥檒l cherish while saving some cash. A more intimate wedding could be followed with a large picnic or party in the future so you can celebrate with all your friends. 
• Shop around for the best deals. Time is key. Securing a vendor farther out from your wedding day can mean more choices and more opportunity to compare prices. 

Being flexible can go a long way toward creating a wedding that reflects your individual tastes and is memorable to all of those in attendance. And remember: your wedding day will be special no matter what you choose because you are surrounded by people you love, and you鈥檙e beginning a lifetime of memories with your special person. 

Fund Your Future

Planning a wedding can be a good exercise in making tough financial decisions as a couple. As you think more about your finances as a married couple, it鈥檚 a good idea to connect with a Farm Bureau agent to discuss your future and ways we can work together to protect it.