Could You Get a Wedding Loan? How to Finance Your Marriage Expense
Wedding Loans | Image Credit: sofi.com
Dreaming of a magical wedding but worried about the price tag? You're not alone. The average cost of a wedding in the United States hit a whopping $30,000 in 2022, according to a study by The Knot. Faced with such figures, many couples consider wedding loans to bridge the gap between their savings and their dream ceremony. But is a wedding loan the right choice for you?
Availability of Wedding Loans
First, there's no such thing as a specific "wedding loan." What's typically offered is a personal loan that can be used for any purpose, including wedding expenses. Banks, credit unions, and online lenders offer personal loans with varying interest rates and repayment terms.
Here's a breakdown of how wedding loans work:
Application Process:...