Are wedding loans a good idea?

Wedding loans are not a good idea most of the time. Even if you get good interest rates (best case scenario is a 6% APR), you’re adding extra costs onto an already expensive occasion. On top of that, you immediately start your married life with debt.

As wonderful as your wedding is, it isn’t an essential expense. Having a less costly wedding you don’t have to borrow for will likely leave you happier in the long run. And if you’re like most people, you probably already have enough debts to deal with between car payments, credit cards, mortgages and student loans.

Ultimately, it’s best to pay for your wedding in cash. If you’re lucky, your family might pitch in to help out, too. That way, you’re footing the bill with funds you already have rather than leaving it for your future self to deal with. And with careful planning and budgeting, you should be able to plan a grand occasion that won’t break the bank.