We are getting married – should we save or take out a loan?

marriage
getting-married
personal-loans

#1

Are you are getting married and looking at how you should finance your big day? The cost of a wedding can spiral out of control but looking at the options available to you will enable you to understand what will work best for your situation. Certainly it is better if you start saving well ahead of the time rather than going in debts through loans whilst starting your new married life. However, you always have both options available.

In general, if you have the ability to save then you will not be putting yourself under the financial pressure of ensuring you pay back a loan. If this is the route you decide to take then you need to look for a account [ Compare Saving Accounts ] that offers a good rate of return. For example, leading banks including HBL, Bank Alfalah, Allied Bank, JS Bank, UBL and Standard Chartered Bank have excellent savings accounts and if you have several years before the big day then you could tie your money up in order to obtain a better rate.

In contrast to this, if you do not have the ability to save and you require a loan, it is vital that you compare loans before applying for a certain product. You are making a financial commitment that you are required to pay back over an agreed time, so ensure that you can meet those payments. If the payments are affordable and you simply do not have the means or the time to save, then a loan can really work for you – just ensure you can afford it.