Wedding Loan
Easily Manage Wedding Costs with the help of our Personalised Wedding Loans
The Major Wedding Costs
Weddings are an incredibly joyous affair and a huge cause of celebration. You’ve finally decided that you’re going to be spending the rest of your life with your other half. Congratulations!
What’s next then? The horror of planning for a wedding.
The idea of planning for things is probably not going to sit well with most of us, let alone planning for huge affairs like a wedding. Planning a wedding has never been easy. Every couple has their own unique requirements when it comes to a wedding. Some may find joy in a low-cost event of S$15,000 while others may need to spend as much S$100,000 to feel fulfilled.
When planning a wedding, some items are set to take up more space on the budget than others. Some of the major wedding costs include the wedding banquet, photography and videography, outfits and honeymoon.
What To Consider When Budgeting For A Wedding
When budgeting for a wedding, always remember this is a special day that is supposed to be fun, lively and unforgettable. As much as you want to save, you don’t want to leave your guests bored or neglected. Whether you dream of hosting it in a lavish hotel or a simple garden, there are factors that you need to consider.
First, discuss as a couple how you will pay for the wedding. Decide whether it’s your parents or both of you who will foot the expenses.
Second, calculate how much you will need for the wedding. This usually depends on the number of your guests, the setting, the season and the wedding style you yearn for. Be specific and include the cost of reception, entertainment, decoration, transport, vendors, rings and other things that you wish for.
Also, remember to allocate some money for miscellaneous items to foot any unforeseen bills that might emerge.
Once you have come up with a budget, think of how you will raise the money. Start with a saving plan or get a wedding loan to reach your goals.
If you’re looking to save more, you can cut the guest list, skip the pricey wedding items such as flowers, cake and decorations and substitute with less expensive ones. For entertainment, go for local talent. Working with local vendors is way cheaper and convenient. You can also simplify the menu but ensure it remains decent and delicious. By now, if you feel that you’re still eating too much into your savings and you need a boost, you can consider taking a wedding loan.
Why You Should Take A Wedding Loan As Opposed To Credit Card Loans
Wedding loans are advantageous as they are considered unsecured personal loans. This means that you won’t have to provide any collateral in exchange for the loan. More importantly, there isn’t a minimum salary requirement for you to have in order to qualify for the loan. As long as you’re able to present a proof of employment, which shows that you’re fit to repay the loan, you’ll most probably be approved for the wedding loan.
Wedding loans also have a speedy approval process, allowing you to receive the cash you need, fast.
Moreover, a credit card loan can tempt one to overspend, thus leaving you with extra debt. If you need to borrow a large sum for your wedding, using your credit card can hurt your credit score when you exceed your credit limit. Therefore, a wedding loan is a more viable option.
Compared to credit card loans, a wedding loan more ideal as it offers flexible repayment terms, lower interest rates and a faster approval process.
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