Whenever it comes to relationships money assumes a significant amount of importance. When you are planning for your wedding you need to be very clear about what you want and that too, right from the start. It is always better to do it right at the start rather than later. Both you and your spouse should be absolutely clear on how financial issues are to be dealt for the length of your married life. It is also not unusual to see family members from either side come in and have their say on these matters. This will only increase if they are paying for some expenses in your marriage. This is especially true for in Singapore context.
All of us have a notion of how our dream weddings would be in our own minds. Quite often people might want to include traditions and other ideas in them and they could argue strongly to back themselves up. It is always important that you listen to them. However, you also need to keep in mind that it is your responsibility to take the final decision since it is your big day and not theirs. So, you should always assume control and focus on having the wedding you always wanted to – not how others would prefer it to be. Also, be careful to avoid spending money on things that you do not want in your wedding.
Importance of having a budget
Before you walk down the aisle you should work out how much you will be able to spend in your marriage and spend likewise. You should also have a clear idea of what will be needed in your marriage. The list could become rather long. You should not forget key expenses such as honeymoon and other additional expenses like traditional gifts for wedding day as well as games that may be arranged during the marriage ceremony. You should also have a contingency fund in case any unexpected expense comes calling.
Not everybody in this world is born rich or capable enough to earn and save enough money so that he or she can foot the wedding bills all by him or herself. Personal loans can often help in such scenarios. However, please use licensed money lender as one of the ways, if that’s your direction. These loans normally carry higher rates of interest compared to other kinds of loans. However, if you are not taking a specific loan such as a wedding loan then it is always good to go for personal loans.
However, there is one thing that needs to be kept in mind. If you are looking to take a specific loan such as a car or a home loan, then having a personal loan can significantly impede your chances of getting that loan. The creditors normally look at whether their debtors have another loan or not and balk at the prospect of lending to people who have already taken loans.
Ways to choose a personal loan
The first thing in this case is to know the amount of money needed. The loan should never be taken for just about any amount or on whim. You can talk with important people such as wedding planners, suppliers, caterers, and ones who are providing the wedding venue regarding the expenses that you will incur with them. This will give you a clear picture of the amount that needs to be taken out as a loan. You should also understand the fact that the rates of interest on personal loan do not always stay the same. So, apply as soon as you can so that you can get the best rates possible.
Also, do some research on these loans and see when their rates are on the downswing, because that is the best time to get them. Also compare all the loans available in the market. That way you will have a clear picture of things and be able to make an informed and wise choice.