Why You Should Not Borrow Money To Get Married

These days, couples getting married tend to bite more than they can chew, spending money they don't have for an extravagant wedding.

So many couples in their desperation to have a perfect wedding will go to any length, even incur debt.

Sure, a lot of people wonder why people borrow money to get married and how they survive financially after the wedding is over.

Most people dream about having big weddings with lots of guest. This is a good way to celebrate but remember the cost that comes with it. Weddings are expensive and the cost runs into millions. If you've always dreamed of a big, fancy wedding, and you know you can't afford it, it's better to kill that dream of yours and cut your coat according to your cloth.

Borrowing to finance your wedding is dangerous and it is a wrong first move. There is nothing worse than starting off your married life with debt. Remember you are about to start a new life with your partner, which is supposed to be exciting, fun and stress-free. Why start your new life with decades of repaying debts?

Though some people borrow to finance their weddings, a number of Nigerians are against it and below are their reasons.

Toluwase Chosen Omole, a member of Winners church said: “Wedding is a maximum of two days while marriage is till death do us part. If I borrow for wedding will I borrow to sustain the marriage?

“That's the worst mistake to take, why borrow to feed people for one day then you begin your family with paying debts that you would have been enjoying with your wife. The best option is to have a cheap wedding do it at the government registry,” said Awimbo Evans.

Why get into debt and them start struggling and fighting over it after marriage?, asks De Sol. “I have heard of marriage crumbling because of finance issues and inability to pay back debts incurred due to the wedding. It's a wrong move in my opinion cos kids will start coming and you need money to take care of them too,” she added.

According to Abba Maisadu, it is suicidal and it's like carrying problem to buy problem.

Salifu Honesty, a civil servant said: “No, if l do that means I'm not man enough. Secondly if l do, that means after the wedding l will be busy paying debts, instead of taking care of my family properly. Thirdly it does not deserve due respect if the people around u happen to know u borrow money to do your wedding.And lastly God's time is the best in the life of a man or woman.”

Some others have a different opinion.
Ben Haruna said: “Why not if I have a solid Pay Back Plan. You see borrowing doesn't always mean lack or one is broke. Sometimes it is due to timing and to soften your pbp. I don't see anything wrong in getting a soft loan to finance your wedding. Like me, I have plenty investments and may not be liquid.”

“I acknowledge series of submissions here with good points, however, I wish to submit that one man's meat is another's poison. Moreso, all fingers are not equal, some people may prepare enough funds before marriage while some marriage enjoy sponsorship, but, I believe one can borrow if the leftover after monthly loan repayment can effectively sustain the marriage,” said Elijah Odemayowa.

We all know you do not need to go overboard to have an amazing wedding. Who needs an extravagant wedding anyway? Just keep it small and simple and you'll be glad you did.

Here are a few things you could do to avoid borrowing for your wedding.

Keep it small. You don't need a large crowd of people who you don't know and who most of the time are just there to criticize. Only invite your close family and friends.

Once you have a planned budget, stick to it and don't spend any extra.

Get married on a work day rather than a weekend. This would reduce the crowd.

It is easy to get caught up with the extravagant celebrity wedding trend, but note that these celebrities have the money for these kind of weddings. You, on the other hand may not be able to afford such luxuries.

While borrowing to finance your wedding may seem like the best thing and a good way to save face, it's one of the biggest financial mistakes a couple can make. It wouldn't be nice for you to get married and then you can't afford food as you are paying debts.

Think wisely before you decide to borrow to finance your wedding.

SOURCE: http://www.naij.com