Wedding Day Loans Suck

Wedding day loans shouldn't be needed for sweet shoes or a dress.

Some of the things people do to have their dream wedding amazes me. Wedding costs are through the roof, and many people want to impress others. It’s no surprise to learn that wedding day loans are becoming more and more popular as showing off on social media becomes commonplace.

The average wedding price in 2016 crept past $35k according to TheKnot. With median household income at just $56k, the numbers here just don’t add up.

How are people paying for them?

The Sponsor Opportunity

I got a glimpse of that last week when someone emailed me asking if I wanted to do a sponsored post. For those unfamiliar with the term, a sponsored post is a post on a blog – like this one – where the blog owner gets paid to post about a topic, product, or service. Often these are done in the form of reviews.

The goal of a sponsored post is to convert readers into consumers of that product or service.

The sponsored post opportunity I got? Wedding day loans.

What are Wedding Day Loans

Wedding day loans are a type of personal loan for the sole purpose of being used to cover wedding expenses. It turns out they are a category of loans that has a few subcategories.

Having trouble scraping up a few tens of thousands of dollars for the reception? Perfect! Exactly what wedding day loans are designed for.

Need a loan for a wedding dress? No problem.

How about a honeymoon? Yep, you can get that finances too.

Typically these loans will come with an interest rate north of 7% – meaning that the stock market historically will outperform it. That gets lumped into my ‘mid-range’ interest rate loans – ones that should be eliminated.

Wedding day loans are designed to let people have their “Instagram Wedding” without paying for it with cash or financing it on credit cards.

Good Reasons To Take Wedding Day Loans

So when might it be a good idea to take out a wedding day loan? I’ve made a list for you!

Here are the common scenarios I think you should consider taking a wedding day loan:

  • You love debt and can’t envision your life without it.
  • The thought of owing somebody else money makes you happy.
  • You’d rather pay someone else interest instead of earning it for yourself through investments.
  • You want to start your marriage in debt.
  • After tallying it all up you figure “what’s another $30k?” and want to go balls to the wall.
  • Your good friend Chad works at a wedding day loan company and you want nothing more than to see him succeed. (Sorry to any readers named Chad haha)
  • Budgeting isn’t your thing and you want to just spend all the monies.
  • Mortgaging your future to pay for one day of your life seems like a sound idea.

How Do You Want To Start Your Marriage?

Based on that list above you can probably tell that I turned that shit down. I can’t imagine recommending anyone take out a wedding day loan, no matter the circumstances.

Kristin and I saved a lot of money on our wedding, but it still wasn’t cheap. We were able to pay for it all without putting it on credit cards or using a loan.

Starting off our marriage with precisely $0 in debt was the best feeling ever. Think about it – would you rather start off owing tens of thousands of dollars to someone, or with extra money in the bank to start saving toward your goals?

Your wedding is one day. You don’t need to take your honeymoon right away. Finding a wedding dress doesn’t need to break the bank.

Wedding on a Budget

If you can’t afford an “Instagram dream wedding”, here are some great options:

  • Go down to the courthouse and get married for like $25.
  • Throw a party for a few close family and friends – much less expensive.
  • Look into a destination wedding – it’s likely that fewer guests will be able to attend.
  • DIY what you can.
  • Save up for a while longer before setting the date.

A wedding doesn’t need to cost $35k – not even $3500. Starting off your marriage debt-free with money to work toward your goals, whatever those may be, will be a much better feeling than having a ridiculously “picture-worthy” wedding.

Weddings are an emotional time, but clouding the happiness with debt is, I’d imagine, among the worst ways to start your lives together. Stay away from wedding day loans.


What are some ways you have kept wedding costs down? If you aren’t married, would you ever consider wedding day loans?

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  1. Oh nooooo. I guess I shouldn’t be surprised that wedding loans are a thing. Our culture tells us that everyone needs to have the great, white wedding. But it’s no way to start off.

    I’m sad that we did our frugal overhaul AFTER we got married. We still managed to keep the entire affair debt-free, but we spent $10,000 on the wedding. That could have easily been a sizable down payment on a home or our student loans. Grah!

    1. Oh man, believe me we spent a ton on our wedding, too. 2017 was probably 2-3x our ‘normal’ spending when all was said and done. I’ll have to take a look at the end of December and see how we fared.

      But like you we did it all without taking on debt. I was pretty happy with that. Even if we were tight on cash for a few months, I’d rather be in that position than in debt!

  2. Had ours at a fire hall like old school. Was one of the few things I allowed my in-laws to pay for and the total was still only about $3K and we paid for the dress and the photos. I don’t fully understand if this is a sponsored post or not Dave? Can’t see any upside to getting a loan. 🙂

    1. $3k is pretty cheap – way to go! 🙂

      Haha this is not a sponsored post. It’s my anti-sponsor post. I only will ever recommend things I think are actually a good idea for my readers. Things like Personal Capital and Credit Sesame – I get affiliate referral bonuses from them, if people sign up with my links. And I promote them because I use them and genuinely think they’re awesome and can help others.

      But wedding day loans? Nope. I’d never recommend them, and won’t sell out for some cash monies. It’d be doing my readers a disservice.

      1. That’s what I thought Dave. Cool. It really is a fleeting event where many people don’t even stay connected with the attendees. We’ve tried to have a family party once in while, every other year and spend about $1K or so on that, so we don’t have to cook or clean up. It’s like having 10 weddings with the people you really care about.

    1. Totally agree! If you’re making a conscious decision to do it, great! But just taking out a loan because you want this wedding and you aren’t thinking of the long-term consequences? Meh.

  3. Oh man, I cannot imagine spending $35K on a wedding! We had over 300 people at our wedding and had a reception in a park with $7/person DELICIOUS made on the spot tacos with a nice Sam’s Club cupcake array for dessert. We had minimal decor, did our own flowers, had friends do my hair/makeup, and had many friends pitch in as wedding gifts (our organist, the choir, the DJs, the MC). Haha- fancy, huh? It was a blast! Our big ticket items were the church, the dress and the photography.

  4. So glad you kept to your values and turned down that sponsor offer! Your list of reasons to take the loan made me laugh real hard 🙂 Starting a marriage with $0 in debt is in fact the best feeling ever. I scheduled my final student loan payment for the morning of our wedding day, and it made me so happy! Spread the word far and near my friend. Wedding day loans suck.

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