Marriage is a pleasant and joyful event in the life of every person, which you do not want to postpone for a long time. However, lavish wedding celebrations are not a cheap pleasure. Not all newlyweds have their own savings to pay for them, so in search of a way out of the situation, they often turn to the bank. In this article, we will talk about whether it is possible to take out a loan for a wedding and what the borrower will need for this.
Why do people take out loans for weddings?
Even modest wedding events with a small number of guests entail considerable expenses, so wedding loans remain in constant demand on the consumer lending market. The reasons for celebrating a wedding "on credit" are different:
Following national and cultural customs . In Russia, weddings were traditionally celebrated on a grand scale: the celebration often stretched out over several days. Over time, wedding rituals and entertainment changed, but the penchant for large-scale festivities remained.
Influence of parents or other relatives. Often, relatives of older exit mobile number database generations insist on holding wedding celebrations, and newlyweds are forced to agree with them in order not to spoil their relationship.
Unwillingness to postpone celebrations . You can save money for a wedding on your own, but it will take a lot of time. In addition, high inflation will gradually “eat away” your savings.
The hope that the wedding will pay for itself through gifts . Recently, the most popular wedding gift from guests has become envelopes with money. But, as practice shows, the costs of the celebration often exceed the amount of money given. And if a loan was taken out to hold the celebration, it is also necessary to take into account the interest on it.
Confidence that joint financial obligations strengthen marriage . This is true if the future spouses have a stable income, plan and calculate expenses correctly. Otherwise, a joint loan can lead to a difficult financial situation and problems in family life.
Taking out a loan from a bank is a serious step. It should be a balanced, agreed upon and voluntary decision of both partners: then the probability of its successful closure will be much higher.