What's so wrong with borrowing money???

I don't think there is anything wrong with borrowing money as long as it is reasonable and you can pay it back rather fast. Personally, I don't want to go into debt, so I took on a second job to make extra money for the wedding. I will just drop the job once everything is paid off.

Actually you can make the argument that putting it on your credit card and then timely paying it off can actually improve your credit. Having a tacky cheap wedding is way worse than having to pay a few grand off for a day everyone looks back on fondly

I think the main thing people have against borrowing money for a wedding is that people have extravagant weddings that they can't afford, and then it starts their marriage in debt. But if you know you are able to pay it back and not start out with a financially stressful life together, then I don't see a problem with it either. My brother and his fiance took out a loan for their wedding that never actually ended up happening because they ended up using it for other things. They weren't even making it day to day before they took out the loan, so that was a TERRIBLE decision for them.

Were probably gonna borrow!! I'm great at monthly payments to bills but saving money? Ha. Not a chance. Maybe in the the long run i save money but having to meet the wedding day deadline scares the crap out of me. So, borrow now so I don't have to worry about not having enough money saved!!

PS our only debt is 2 cars (with a year left) and our house, so we are fully able to afford our wedding!!

Borrow as in a loan or from like friends or family? If loan does your monthly payment justify you needing to borrow money as opposed to saving that money and slowly pay for the open bar and/or saving as much as you can till that day and putting X amount of money to the bar tab and if the funds run out then it turns into a cash bar? My roommate from college did this and then both dads put money towards the "tab" and it never reached the limit and the couple got money back at the end of the night.

I'm highly against taking a loan out for your wedding. Is it really worth starting your lives together in debt? I have been paying debt for 10 years and finally getting it all gone minus a little of a school loan still outstanding, so for me a loan is not an option.

Let's be realistic here. When you say the word "wedding" the price skyrockets! We took a line of credit out for our wedding, but I have budgeted EVERYTHING to death. I know we can pay it back, and I am doing private consulting on the side to help with that. We can't ask our parents since they simply don't have the cash.

We'd rather have the wedding/party we want than to give up certain things, so whatevs.

There is no way I would borrow, personally. I'm not going to judge anyone who does, but I do not want to pay off interest or spend more than I have on a party. I find the idea of a "dream wedding" to be commercialized - magazines, tv, and companies tell us we HAVE to have all this stuff, but we really don't. I like to live within my means. A wedding is not an emergency, and I would only borrow against my 401k, etc. for an emergency.

I never even think about these things if right or wrong. We are all grown, you know your finances and everyone has their reasons why they handle it a certain way. What Mrs.King says is so true about paying off your credit card and it helping with credit. My FH is very methodical and he has put things on CC to do just that, and then he pays it off completely within 1-2 months. He has high credit lines because of it. He chooses to not carry balances, but those that do--its what its there for. I think I might judge, if you had kids that were going without, or chose an expensive budget verses taking care of your bills and you were bankrupting, but that certainly doesn't sound like what you are doing.

Everyone's situation is different but I personally wouldn't borrow or get a loan for our wedding, We`re both good with money and we saved, I`m not starting off the marriage in debt, if we can`t afford something we don't buy it...simple.

Wow. There is some great insight here. I'm 48 and already in debt to my eyeballs. Not credit cards, but I have a mortgage and other debts. I think if I didn't have any debt, or very little, and my income was under a certain dollar amount, I would feel entirely different. When I talk of the wedding of "my dreams", I am speaking of giving up an open bar, crappy food, and a bad photographer. To me, these are necessities. I'm not talking diamonds, or a 500 person guest list.

It's your life and situation so only you know what is feasible. I don't believe in paying for things on a credit card unless its paid off every cycle. I was dumb in college and will never make those mistakes again. The only things I owe on are a house and car. I don't want to start my marriage in debt. If I can't pay cash I don't do it. It's just that simple.

Rebekah, I'm already "starting" my life in debt, but at nearly 50 years old, I'm not really starting it anymore. At this age, you just make it happen, and after surviving cancer, I'm just glad it's here, so money isn't everything anymore, but it doesn't mean that living within your means isn't important also. There's a delicate balance. I think I've been lucky enough to find it.

I don't see anything wrong with it. Its your life and your wedding!! Make it fantastic! I borrowed from my 401k with little interest and will pay it back in a year. We are paying for it 100% ourselves and we don't live together so there's really no other option.

I have paid off my small modest home, and only owe on a car. I use CC's very sparingly for ordering things online (like the wedding ring I sent back today), and hotels on vacation. I too am a saver, and if we can't pay cash for it, we don't get it. Obviously something like a new fridge if ours crapped out is different. I don't want to go into debt for one day, and my wedding is going to be one of the classier ones in my family history. We use coupons for restaurants and such, and pay cash, save our pocket change and deposit it in bank after I roll it up. I have paid for a weekend getaway with the pocket change money. Surely I can save enough to pay for my ceremony venue or at least the cake.

No one wants to hear the phrase, "have the wedding you can afford", but that's what it boils down to. In 'real life' we rarely get to have everything we want; I don't know why anyone thinks their wedding is going to be any different. (No, I'm not singling anyone out here; it's a general statement.)

I want a new car. I can't afford a new car, despite the giant fees that wedding officiants charge.....I'll get the smaller used car that I can afford.

Every wedding, every life, is a series of hard choices. We make them, we live with them, but don't go into debt, (especially borrowing from any kind of retirement plan) to throw a party. It's just not worth it.

No one wants to hear the phrase, "have the wedding you can afford", but that's what it boils down to. In 'real life' we rarely get to have everything we want; I don't know why anyone thinks their wedding is going to be any different. (No, I'm not singling anyone out here; it's a general statement.)

I want a new car. I can't afford a new car, despite the giant fees that wedding officiants charge.....I'll get the smaller used car that I can afford.

Every wedding, every life, is a series of hard choices. We make them, we live with them, but don't go into debt, (especially borrowing from any kind of retirement plan) to throw a party. It's just not worth it.

For FH and I, not going into debt and starting our marriage with stable jobs and enough money was the exact reason for us to wait a couple more years to get married, even though I would have jumped onto that right after high school. We have no debt now and we're trying our hardest to never be in debt (except for a hopeful mortgage in the future!).

Personally, even IF I were in lots of debt like yourself, I wouldn't want to go any deeper into debt. I guess, I would just prefer to get it done at the courthouse and maybe throw a reception later. I'm not sure. But, if it works for you, that's what is important!

I did not say money is everything. That is far from my belief. I believe in living within my means and doing what I can afford. I understand that is not everyone's way of doing things and that is their decision.

As long as you have a plan to pay it back, and work at it together. The last thing any couple needs is paying student loans, credit cards, mortgage, and on top of that wedding debt. Financial stress is hard on marriages, just be smart about it and work together to live within your means and have a savings / emergency account in place. And avoid consumer debt, you'll be ok.

There is nothing wrong with borrowing money if you are ok with going into debt, paying for the wedding for many months or even years after it's over, and paying more than it cost due to interest. Personally, I would rather be financially responsible and not do that for a party that will be over in a day.