In terms of finding your forever partner, they say when you know you know, but that doesn’t mean that your bank account knows. With engagements commonly having an element of surprise for at least one of the people involved, you might find yourself in a less than desirable financial position when it happens, and worried about how you are going to make your dream wedding a reality. Take an honest look at your existing debts and decide if a large-scale wedding feels responsible or not for you, and if it does, but you still need a little help, consider taking out a personal loan. Shop around and find the right loan for you because whatever decision you make, you want to start this next chapter of your life on solid footing.

Length of Engagement

If a short engagement is what you are after, then you might need large amounts of cash available quick. In which case, it’s a benefit to you that most lenders can get you matched with loan options in less than 60 seconds. Shop around interest rates carefully because that will help you get a handle on your payback plan and set a realistic tone for how much money you should borrow and dedicate to this event. Some loans don’t charge for prepayments, so that can help you manage the total interest you will end up paying over the life of the loan. Some couples take out a personal loan up front with the intent of using cash gifts from the wedding to pay it off in large increments, double check the language of your loan to make sure options like this are allowed.

Post Nuptial Finance Merging

Now is the time to think about how you and your partner intend to handle finances after you say I do. Using borrowed money to pay for your reception is going to be a quick and present factor in your marriage so make sure that there is transparency and consent on both sides before you sign on the dotted line. This could be a good way also to consolidate joint debts and perhaps get credit card debt under control. Many personal loans have better interest rates than credit cards do so allocating some of your loan towards credit card payments might be helpful to you both should you decide to merge your finances. Not to mention that successfully paying off the loan you take out will improve your credit score as a couple.

Alternative Financial Contributions

Even if you don’t have the traditional ‘the bride’s family pays for the wedding’ set up to count on, you might have people in your inner circle that want to help you celebrate your love by financially contributing to your wedding. Find out early on if this is something that might be in the cards for you. Your personal out of pocket costs and needs will vary significantly if you have multiple people going in on the big event. As a part of this conversation you may also find that people you know may have connections with vendors that can offer you discounts or specials that will impact the price tag you pay. Worst case scenario, finding out whether you do or do not have to take care of the total bill on your own early on is going to help you get the ball rolling with the bank if you decide the loan route is your best option.