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29-11-2011 11:33 AM #1
Take bank loan for wedding expenses?
Is it recommended? my bf is thinking of doing that otherwise it will be ages before we can save up sufficiently, by then we will have to marry late. Any one done it before?
29-11-2011 12:00 PM #2
i dont really recommend it. most people already have study loan to clear. if you take on wedding debt even before you marry, you will be stuck in the debt cycle all your life!
29-11-2011 12:02 PM #3
- Join Date
- Apr 2011
- Perfect Points
bank loan is very high, around 18%. Care to share how long do you think you are going to repay?
You heard of Citibank Ready Credit? They had this service fee of 2.5% for 6mths or 5.5% for 12mths.
After so, you just ensure you pay them monthly and there will be 0% installment, call them and check with them, I cant find the website on this.
24-12-2011 12:33 AM #4
Just save money for wedding bqt as there are more big items like house n renovation that may need loan if you dont have enough cash to pay.
04-04-2012 09:00 PM #5
err if nw hv nt get married oredi need to take loan let alone in future....financial planning is impt n can juz go for v simple wedding
05-04-2012 11:01 AM #6
yeah..better to have a simple wedding then to take loans and suffer later...
overall...there will always be renovation loans...housing loans...and plenty more! =)
05-04-2012 01:36 PM #7
yes i agree too, why do you want to take up a loan for a wedding? might as well use it on your new house's renovation - which you will live in it everyday for a couple of years at least..
wedding banquet is just something which last for a couple of hours, and its a tradition why people are doing it.. if one is capable, they can hold it anywhere they like, but if you have a budget, you can consider 4 stars hotels or even restaurants with ballrooms..
No point putting yourself in debt just because you want a super grand wedding, you will be happy for that few hours, but after a night's sleep, you will be in debt for xx months/years..
Budgeting is really important, loan is really not advisable my friend..
17-09-2013 10:39 AM #8
better save for your wedding. bank loans are quite complicated and risky especially if you're just starting a life together.
17-09-2013 04:16 PM #9
Agreed with jwjw. I rather take loan for house Renovation than wedding.
19-09-2013 09:28 AM #10
Not recommended. we saved for our wedding and our parents also shared some in the expenses.
07-01-2014 05:28 PM #11
i don't really recommend it. since you guys are just starting a family, you should not have a big expense to start with. i think it's better to save up for the marriage.
08-01-2014 10:56 AM #12
Better not. cos after that, you'll be stuck with reno loan & maybe furniture instalment!
as for wedding, spend within your means. =)
08-01-2014 02:57 PM #13
I don't suggest that you do that because you might end up in great debt after taking a loan.
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