Wedding Loan

life_experience_required

I've recently taken out a 25k loan to consolidate debt built up from uni/unemployment period in my younger years and final wedding expenses. It pains me to see I have this much debt but in answer to your question, the only proof I was asked for was the account numbers of the loans and/credit card I was consolidating, they pay the rest into your bank account and its your to use as please. As mentioned above if one of u somehow lose your employment it means the other will have to foot the entire bill while the other is unemployed, this has happened in our case and although we can get by, there are weeks/months when it's a struggle. Weigh up all your options, depending on when u plan on getting hitched, the balance of most things does not need to be paid in full until 2 months before. Hope this helps.

Better_Off_1983

Isn't it highly unlikely these days to get a loan of that amount??

catshark88

Or get married cheaply now (registry office, no flash dress etc.) and then have a blessing or other do when you can afford it. Surely a wedding should be about becoming married, rather than organising a big party....

ultimaforever

Yikes. Scary how much you can spend on a wedding!

27col

EKAndrew wrote: »

my pal spent £18k on his wedding 4 years ago, (he's still married) but he's adamant spending that much was one of the worst mistakes of his life

Still married after 4 years wow! Amazing. Puts my 52 years into perspective, does that. As I recall our wedding cost about £196, which seemed a hell of a lot at the time.

suburbanwifey

Better_Off_1983 wrote: »

Rumour has it ... the more money spent on a wedding... the shorter the marriage. The debt commitment may last longer than the actual marital commitment! Money and debt is one of the major reasons for relationships/marriages breaking down.

If you both earn enough... why are you not 'paying' yourselves by having a savings account??

Think about it .....

So very very true. I gasped when I read that they want to spend 14k on a wedding that lasts one day! then is gone forever and you are both left with the reality. Seems a fortune to spend on one day to me. It should be the 'being married' that matters more than the 'wedding day' I've been married now almost 26 years, we spent 96 pounds to get married - registry office, I bought a dress second hand and then sold it the week after I wore it and his mam did a buffet at their house for our wedding night. He spent more on my wedding ring than the getting married bit. Twenty-Six years and we are still happily married and we went from having nothing to being very affluent. Others who 'married' the same time as us, spent 5k or 7k or even more on extremely fancy weddings and all that 'wedding favours' rubbish and even more lavish honeymoons (when they all previously knew each other in a biblical sense anyway!) and you know what? ALL of them were divorced within 5 to 10 years maximum. Starting married life out with a debt THAT BIG (25k loan, 14 just for one day ????) is utter madness and I give the marriage 5 years, sad but true and someone in that marriage will be landed with that debt and yes, its debt for what?

If you want to get married, Gretna can do it for a lot less !!!

meer53

I got married in 1984, £15 registry office, outfit from BHS, reception at local community centre, about £200. My ring £50.

We didnt tell anyone we were getting married, just 2 friends for witnessess, reception was a week after we'd got married when everyone had found out ! Spend as little as possible on the wedding and put the rest towards other, more important things. We'd just bought a house so couldn't afford a big wedding, we would never have dreamed of borrowing any money just for one day. But then the only thing we borrowed was our mortgage, all our furniture came from the local newspaper until we could afford new, second hand washer, fridge, car etc. It's all so different these days.

I'm quite pleased that banks are clamping down on lending, maybe it will force people to take more time to think about what's really important.

System

shonzyd wrote: »

when are you planning on getting married? weddings normally take 12-18months to plan

You are taking the proverbial. If it is taking that long to plan then you are doing something seriously wrong!

SnowTiger

!!!!!! wrote: »

You are taking the proverbial. If it is taking that long to plan then you are doing something seriously wrong!

Erm, I'd guess that for anyone who's willing to borrow fourteen thousand pounds to spend on a wedding, the planning is more important than actually being married. Therefore it's probably best to make the planning experience last as long as possible.

ElkyElky

You can have an equally amazing and lavish wedding without spending the next decade paying it off. Invites, food, flowers can all be done yourself cheaply and it needn't look tacky.

My friend has joined a local crafting group at the community centre to learn new skills. She is getting married in the summer and has already created herself a bouquet of fake but beautiful flowers. Both of the rings were bought from Amazon for next to nothing. She has been learning how to cake decorate so she can create her own cake and lots of lovely cupcakes. All of her invites are handmade by herself, each unique with it's own design.

The only thing she is splashing out on is the car. Her wedding is going to the cheapest of the cheap but I don't doubt for one second that it won't be an amazing and beautiful day - probably better in fact because she won't have the worry about when the first payment some crazy loan is due.

If you want to get in to all of that debt for a wedding that will only last one day, then with respect.. you need to be locked up because you're one crazy fool. If you want a big fancy wedding then fair enough but despite what the fancy wedding magazines tells you, you don't need to spend the earth.

Edit: Cheapest property available in my city is on sale at £32k for a 1 bed flat. To put it in perspective, your £25k loan for a wedding day would pay 78% of this flat. Does it still seem like a good idea spending all that money for one day of OTT enjoyment?