Your wedding day is incredibly special. It’s a once-in-a-lifetime chance to live your dream with everything that you’ve always wanted to make your day amazing, and an opportunity to make a statement about who you are as a couple.
Wedding loans – a popular choice
Amid the romance and glamour, the reality of a wedding is that they can be expensive.
After allowing for all the trimmings, MoneySmart found that Australians spend an average of $36,200 on their wedding. With this sort of cost to manage, it’s important to consider how you will fund your big day, and an easy solution can be a personal wedding loan.
In fact, research shows that three out of five Australian couples choose a personal wedding loan to help cover the cost of their special day.
Personal loans can be affordable wedding finance
Personal loans have a number of qualities that can make them ideal to pay for a wedding finance, especially for young couples starting out.
Personal wedding loans come with a fixed term, usually 5-7 years, so you have a clear date when you know the balance will be paid off.
You also know upfront what the monthly repayments will be, which makes budgeting easier. And while interest rates on wedding loans vary widely, as a rule they are typically far cheaper than interest rates on credit cards.
Shopping around for wedding loans
Just as it’s important to shop around for all your wedding needs, it makes sense to shop around for a personal wedding loan.
The trouble is, when you’re planning a wedding, you’ve already got a long list of things to organise. So it’s good to know that help is available through your local Mortgage Choice broker.
A Mortgage Choice broker can do the legwork for you, using specialist software to sort through personal loans from over 20 different lenders including many of the big banks. That way you can be sure you have the loan that is right for you needs and your budget.