28 October 2011

Different Ways to Fund Your Wedding

Getting married is one of the most beautiful experiences. And people save in different investment portfolios in order to meet the expenses of the D day. Whatever your budget is, this day might be the most expensive one of your life. Weddings can pose a serious financial challenge because at one point of time you would realize that you have gone way over your budget and you are now stuck with no money for the rest of the wedding items.

Whether you plan to have a destination wedding, a wedding in a resort that helps you save nearly 15 to 20 percent of your money, or in a wedding hall explore the following ways to finance your wedding.

Apply For a Personal Loan


Different Ways to Fund Your Wedding
Consider availing a personal loan if your partner is comfortable with the idea of borrowing money, because applying for a loan for your wedding is a similar to applying for any other loan. And once you have confirmed on taking this option, make sure you shop around for good rates. Visit a few traditional banks and lenders who offer you a variety of secured and unsecured life. Make sure you have a good credit score before you can avail this. Do not borrow a huge amount that could leave in a big financial mess.

Take Out a Home Equity Loan

Different Ways to Fund Your Wedding
If you are a owner of a house, then consider taking a loan against your mortgage. This can be one way to finance your wedding. And for this it is necessary that you have a good credit rating. The upside to these loans is that the interest rate is typically less than that of a credit card.

Take loan From Friends

Different Ways to Fund Your Wedding
The advantage you receive on taking a loan from friends is that you cut back on the application fees and interest rates which otherwise the bank would charge you. This kind of loan is getting popular and can be a great way to get a loan for special occasions. You will have to have a written agreement that states the important details of loan amount and duration period to be returned.