When it comes to planning for the wedding, many couples quickly realize that there are a variety of cost points to consider. Even if the actual wedding ceremony at the registry office or in the church usually does not cost very much, the wedding celebration is usually the biggest cost factor afterwards. The guests, consisting of family and friends, want to be entertained. This includes coffee, dinner and possibly finger food for champagne reception at the beginning of the celebration. Of course, you also want to give your guests drinks during the celebration. Depending on the length of the wedding party and the number of guests, a long bill is quickly made. Not to forget the cost of the heart of the celebration: the wedding cake.
But not only the expenses for the wedding celebration go into the money: understandably, many bridal couples want the whole package for their dream wedding. A wedding dress that draws everyone’s attention to the radiant bride, a designer suit for the groom and romantic honeymoon in her dream travel destination.
If you want to pay for the wedding yourself – and do not want the bride or groom’s parents to pay for the wedding celebration, as was customary in the past – you need equity. For those who cannot raise the necessary equity, the question arises as to how the small budget can be supplemented in the best possible way in order to celebrate the dream wedding anyway. At this point, many couples use a wedding loan to increase their equity for the wedding.
Before you take out a loan for your wedding: Calculate wedding costs & equity
Before you decide on a wedding loan, you should be aware of the budget you will need for your wedding. It is best to write down all planned items, from the wedding dress and wedding rings to the honeymoon. It is also important to know the number of guests in order to be able to estimate the cost of food and drinks at the wedding party. Of course, you should also check beforehand how much equity you have available for the wedding to avoid taking out too much credit.
Once you have completed this list of expenses and know your budget, you know how much money you need and can choose the right loan for your wedding.
And after the honeymoon? Wedding credit not just for the wedding reception
Overwhelmed by the multitude of things that have to be planned and the associated costs, many couples only think about the wedding loan to finance their wedding. However, when applying for the loan beyond the wedding reception and honeymoon, it is worth taking a look into the future and thinking about future cost items.
Often the bride and groom of the wedding have to move – moving into their own home is a common step to start the new common future. Then there are new costs for the move, which can ideally be factored into the loan application for the wedding loan. Perhaps the couple is already planning children – even then it may be necessary to move or the furnishing of the children’s room has to be financed. If you don’t take these costs into account,Loans are taken out.
Therefore, it is worthwhile to take these cost points into account and, if necessary, to take out a higher loan in order not only to finance the wedding.
How to find the right loan for your wedding?
Once you have set up the wedding costs and also checked your equity accordingly, it is a matter of finding the right loan for your wedding. To do this, you should first consider exactly what the wedding loan should be used for. Is it about financing the wedding party including catering for the guests and location, should only the honeymoon be financed or is the money needed to buy the wedding rings and wedding dress? If you have an overview of the individual cost items, the amount of the loan can easily be set to the required amount.
Here, however, it can also be advisable to plan a buffer for unforeseen costs: Do more guests spontaneously agree and is more food and drinks needed or do changes need to be made to the wedding dress at short notice? All of this makes the wedding bill even longer.