What's so wrong with borrowing money???

Part of adulthood is avoiding unnecessary debt. I really don't want to offend anyone, but I seriously can't wrap my head around why it would be worth going into debt for your wedding.

We're working on paying off our college loans right now; it's unlikely we'll take on new debt until we buy a house.

In our case, we are having what I think is a reasonable cost wedding. We've cut the numbers down to about 80 and have been able to pay all cash so far. We should have enough saved up to pay everything off when the final payments are due with maybe one exception: the cash bar. We have options there and we will at least do a partial open bar but we will see where we are when we get there and what would be reasonable to do at that point. This is the one aspect, though, that I am willing to put on a credit card because I fully expect that we will get enough gifts to fully cover whatever we would charge and if not, we have a comfortable enough income that we could pay it off quite quickly (like within a month or two and pay very little interest).

I'm not willing to go severely in debt over the wedding, but I do want to host a nice event, you know?

FH and I already have debt from student loans, some credit cards and my car so we knew the wedding had to be paid off as we went. No adding any more debt. We also are paying for the whole thing 100% on our own.

We already have a plan for our other payments and have managed to pay that and save for the wedding at the same time. Yes we have cut back on a lot of unnecessary spending but I guess it comes down to priorities. If you AND our FH are okay with acquiring debt for your wedding, that's completely your right to do

We waited until we could afford a wedding that we want (not our "dream" wedding - we have lofty dreams of all sorts of things but none of them are worth living beyond our means). we saved to buy a car (cash) and a condo (20% + mortgage) first, because those were priorities. we then saved for the wedding. i can understand that being difficult if you have values that prevent you from living together, though, but in that case i would be doing something creative and small.

I'm against it, simply for the reason I'm not big in credit to begin with.

Sex and money are the 2 main causes of divorce. When jobs are lost, payments get fewer and farther between, causing defaults, slow

Pays, and even worse, credit that's irreparable when it's all said and done. Don't get me wrong, we have a few debts. $820 total to zales, for my rings and his watch. $2700 on our washer and dryer(9 months later, and we only had 1 late payment, yet we still owe $2700, and total original price/credit was only $2184), fh now owes $1100 in back taxes from 3 years ago. And of course, we have my truck. Which thankfully, we've never been late on or missed a payment on.

But, things happened and lowered our monthly income. So we do best we can, check to check. Neither of us could get a loan, but if we did, it would be to pay off those other things, and free up monthly money. Not to throw a party.

Again, that's just my 2 cents.

I think part of it depends on HOW the money is borrowed. If you are taking out a line of credit or even using credit cards that's one thing. But to borrow money from a friend/family member/whoever, for a party is extreme. People are "funny" about money, and everything is all fun and games until someone wants their 5k and turns into loan sharks on ya.

I would hate to enter a marriage with a large owed debt like that looming over our heads when we had other options, such as a long engagement to save money, etc.

IMO I HATE owing anyone anything. If I can't get it myself I'll just wait on it until I can get it. Once again IMO this is a touchy subject!

The FH and I are paying for the wedding ourselves. We had a long talk about whether or not to take out a loan for the wedding. We decided against it b/c we want what's best for the marriage; not just the wedding, We felt our marriage would be less stressful without wedding debt. We are having a smaller wedding than we originally wanted but in the long run, we will be happier. A wedding is just one day but a marriage is for a lifetime.

We hadn't planned on borrowing any money for the wedding, but we moved house which increased my commuting cost massively (FH got a job elsewhere and the move was partly so that we could both work at the place that is best for us, and partly as we didn't want to have kids in London and where we are now will be much better for that). On top of this we have lost a couple of free elements to the wedding (SIL MUA is pregnant and due within two weeks of the wedding, and MIL was going to do the cake but has decided she can't) so a few costs have crept up. We had already committed to the venue etc. and sent STDs before all of this became apparent.

We are going to try our hardest to get the money together without borrowing but there simply aren't enough paycheques between now and then, so a few bits will have to be on credit cards, to be paid off as quickly as possible afterwards. I'm going to try and view the bills as monthly reminders of our wonderful day together.

I think that borrowing is OK as long as you've got a realistic payment plan, and are not at risk of financial stress. I wouldn't recommend borrowing though unless it's for an investment (house/school) or an emergency.

What worries me though is when I see people borrowing outside of a bank. Some of the lending companies out there advertise their loans as 'low interest' but in reality the loan contract forces the borrower to pay for insurance (in case they fail to pay up) and charges large fees. When you put the costs together, the real interest on the loan can be very high. The sad thing is that these companies target people who can't borrow from banks as their credit history is bad, so their only choice is to borrow from these types of companies (which is the worse thing that they can do).

The bank group I work for owns one of these companies (although they don't publicly admit to it), they also own a debt collection agency.

Why does someone want to go into debt for 1 day? I would have that cash bar WAY before i ever borrowed money for a wedding. I think alot of times people who are more focused on the wedding instead of on the marriage and long-term consequences of borrowing money, are maybe in relationships that are unstable.

Im having a 12k wedding for 175 people, , that I am not paying for, and i feel very, very, very guilty about my parents spending thats much- even though they want to do it. I am cutting every corner so they don't have to take money out of their savings.

You only need 3 people and a marriage license to get married, so anything over the liscense fee and the gas to get you there is a waste.

There are times that instead of attempting to borrow from friends or family and possibly hurting those relationships, you should always try to borrow from a company. There are times that we really need cash that we tend to borrow from a friend or family that sometimes we cannot give back what we've borrowed within its due, most probably because we know that a friend or a family can understand the situation. Well, it doesn't work that way. Based on what I've experienced lately, I would not want to lose a friend over financial matters. There are some companies that offers cash that would be of help when we are need of quick cash to pay for the expenses that we need to pay.