Borrow money for a wedding

If you want to get married and throw a party, you will be confronted with quite a few costs. You only get married once in your life and you want to make it a great day. A small wedding party costs around 10,000. You can finance the costs of a wedding by borrowing money if you do not have any reserves on hand. There are various forms for this, including the wedding credit. In this article you can read, among other things, what a wedding costs and how you can pay for it.

Borrow money to cover costs

There are various options for borrowing money. It pays to compare several lenders because the differences are sometimes large. Don’t just look at banks but also at other financiers. They often have competitive offers. Do not be frugal with the amount to borrow. The more budget you have, the better you can arrange the big day. Renting a nice car, a nice band at the party, delicious catering and a fantastic wedding cake are among the possibilities. You must of course ensure that you can bear the monthly costs of the loan. In addition, you can use the money you receive as a gift at the wedding to pay off the loan faster. The most obvious ways to borrow money for a wedding are:

  • a loan
  • a wedding credit
  • through a mortgage

Loan for a wedding

Because you are still young, have no children and a decent income, you can easily apply for a loan. Your financial situation is so favorable that you can easily bear the monthly burden of a loan. The disadvantage of a loan is the interest that you have to pay on the borrowed money. The total costs of the wedding can therefore be considerably higher than you initially thought. If you are sure that you need additional money, and also approximately the amount, then a loan is the most suitable solution.

Fidelity credit

The loyalty credit is a form of revolving credit. You only pay interest on the amount withdrawn. This interest is often higher than the interest on a loan. Therefore, compare different providers in advance. The advantages of a wedding credit are:

  • pay interest on money withdrawn
  • repaid amounts can be withdrawn again
  • quick money
  • make additional repayments without penalty

So if you are not sure whether you need extra money, but you want to have access to it quickly, then a wedding credit is the best solution.

Pay for the wedding through a mortgage

If you know that you will be living together in an owner-occupied home, you can discuss with the mortgage provider whether there is room in the mortgage amount to finance the wedding. The big advantage of this is the low interest rate.

How much does a wedding cost?

It is often difficult to make a good estimate of all the costs you will incur during a wedding. You can make an estimate in advance of a number of cost items, while some others cannot. It is wise to draw up a budget before you start the activities surrounding the wedding. This way you get a good insight into the expected costs and you can arrange financing on time.

Fixed wedding costs

  • Town Hall (between 100 and 500)
  • Notary (approx. 500)
  • Bridal wear (between 1,500 and 3,000)
  • Wedding rings (between 500 and 1,000)
  • Church (between 300 and 800)
  • Flowers (around 200)

These are only indications. If you add everything up, the fixed costs of a wedding vary between 3,100 and 6,000.

Variable costs wedding

  • Food and drinks (between 20 and 30 per person)
  • Band or DJ (between 750 and 2,000)
  • Wedding car (approx. 400)
  • Photographer (from 500)
  • Wedding cake (approx 200)
  • Gifts for guests (between 1 and 5 per couple/person)
  • Wedding cards (approx. 200)

These variable costs depend on the number of people who appear at the party. There are also large differences in price for some cost items. Therefore, carefully explore the different pricing of the catering industry, photography and music. If you add up all the costs mentioned above for approximately 100 people, you arrive at an amount somewhere between 7,000 and 15,000. That’s how much a beautifully organized wedding costs. Of course, you can always solve certain things cheaper or do them differently, making it cheaper or more expensive, but that is up to you!