Thursday, May 15, 2008

Wedding Loans: Til' Death Do You Owe

April marks the fourth straight month of job losses in the United States, so what better way to cheer yourself up than to take out a massive wedding loan to finance the princess fantasy of your dreams! Those fuddy-duddy finance nerds at The Street want to rain on your wedding parade, though; they point out that taking out a wedding loan is a fucking terrible idea. "While getting a wedding loan may seem like a good way to bridge any shortfall a couple has, it's one of the biggest financial mistakes they can make," says writer Jeffery Strain. "There is nothing worse than starting off married life tens of thousands of dollars in debt, especially if student loans and other debt is also being brought into the marriage."

If you can't sense the sarcasm in my voice, then you probably don't know me. The statistics in the article are alarming! Most notably, an "AVERAGE" wedding in a bigger city costs around $50,000 and doesn't even include the honeymoon, engagement ring, bridal consultant or wedding planner, all of which can obviously add tens of thousands more to the cost of a wedding.

1 comment:

Dana Lynn said...

My opinion is, if your going to financially FEEL the costs of the wedding, you shouldn't be having one that size. Have a wedding the side you or your family can afford- not something you'll be paying off for years.