I took an online survey this week for engaged brides. Question 54 asks how you intend to pay for your wedding. Most of the options involved taking on debt in one way or another. The first option on the list, “Refinance your house” is also probably the worst option on the list. Mortgage debt is secured by your home, so if you are unable to pay it back, you could lose your home. I can’t imagine a scenario where it would make sense to risk the roof over your head to pay for a wedding.
We decided a long time ago not to incur any debt for our wedding. We had a yard sale to raise some money this summer and we are also saving as much as we can so that can pay cash for everything. We also decided to have a very long engagement (almost 3 years) so that we could have time to save up enough cash and wait for the best deals with vendors.