This is why you should never take a loan for your wedding


It is not uncommon in various parts of the world to take loans for weddings to add that extravagant touch to it. There is no denial that ‘the wedding day’ is one of the most important days in our lives. And each one of us would like to make it as special as possible.

But do they really need to be so exorbitant in nature that the bride and groom start the new chapter in their lives with piles of debt in it?

From sending expensive gifts with the invitations to swanky costumes and jewellery. From theme based decorations to destination wedding planning. From posh cocktail parties to plush formal dinners. From professionally choreographed performances to personalized give aways for the guests. There is literally no end to how much one can splurge on their wedding.

Here are the 5 reasons why you should never go for a wedding clubbed with debt:

  1. It hampers the balance in your ‘balance sheet’

The finances of the wife and husband get combined after the wedding and the amount of expenditure on weddings is sometimes 4, 5 or even 10 times the annual income of bride and the groom. In India, the tradition of dowry just adds cherry on top.

If you look at it, most of the expenditure in the wedding yields no return in future which means it is all ‘outflow’ with no promise of ‘inflow’ in the future. And this is a solid threat to the financial future of the couple with limited income and is ‘bound to hound’ their balance sheet.

2.  A seed for future fights

Inside the walls of every household that has taken a loan, sooner or later this debt rises up to be the starting point of fights and frustration.

In a large number of cases, the ambiguity on who and how to pay the installments of this loan turns out to be a ‘turn off’ for the new relationship. While it is advisable to share each other’s financial set up and expectations before wedding, it is not always the case. And any later contribution to these installments is an unexpected burden and sometimes leads to damaging the much needed trust, transparency and understanding between the newly wedded husband and wife.

3.  An obstacle in ticking off your bucket list

As the new chapter starts for a couple after the wedding, there is a long list of things one would want to do with their partner. In this scenario, the installments of the wedding loan act as a spoiler forcing you sometimes to make a compromise or delay your plans of travel or adventure with your partner.

Remember that if the lavish wedding is the starting point of your fairy tale, you need to secure enough resources to maintain the ‘glimmer and glitter’ in your married life and thus not exhausting all or most of your financial resources in the beginning itself.


4. Adversely affects your credit rating

You can never foresee precisely which days turn out to be rainy in future and to what extent. This means that you always need to keep some space to be able to raise a debt if the need be. And a loan for the wedding will adversely affect your credit rating as a prospective debtor in the eyes of the financial institutions.

No one knows your financial situation better than yourself, and thus it is you who needs to assess if your financial portfolio can accommodate this loan and still stay healthy.

5. They will still complain!

While you make umpteen attempts to keep every guest happy, you can practically never do that.

Reason: it is the human nature. Despite making the best arrangements you can, there will always be a long list of relatives or friends who will do their job of finding the faults in your wedding arrangement and probably may also be upset with you.

So if you are indulging in setting up a lavish arrangement on your wedding to show the society, relatives or friends, backed by a wedding loan, think twice if it is worth it!!

As adults, we all are mature enough to decide good and bad for ourselves and make a fair judgement but particularly in case of weddings, when emotions and traditions seep in the picture, making the big day ‘bigger’ looks like the obvious option to fit in various societal norms and customs. It is key to not fall under any kind of pressure to follow a person or a tradition, but to follow your own financial indicators.

A wedding is a surely a special day. But for more than anyone, it is a special day for you both. And thus for this particular event, prioritize what makes you happy without jeopardizing your financial standing in the future for the sake of other’s happiness most of whom don’t even matter and will not support you in an event of turmoil.


Please enter your comment!
Please enter your name here