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"Couples are getting married later, so they are more willing to pay" Yet the example in the article is 26 I wonder if this increase is largely in people who in
by JansjoFromIkea 7y ago
"Couples are getting married later, so they are more willing to pay"
Yet the example in the article is 26
I wonder if this increase is largely in people who in the past would've gotten married in their teens. By those people not getting married until they're in their mid 20s, they have access to the kind of debt that can blown on a fancy enough wedding. In lieu of feeling like you'll ever have access to the means to buy a house, you might not care too much about racking up 10-15k on a wedding.
- pureliquidhw 7y agoI think this has to do with ongoing costs and upfront costs. You can't get a home without SOME upfront cash, and it's known that you need money to pay the taxes, additional utilities, maintenance, etc after you purchase the home. The comparison between a $50k loan for a wedding vs a $50k downpayment on a home is that they never had that money to begin with, and the payments on the wedding are just another expense vs buying into a mortgage with all the extra costs alongside it. I'm not claiming a loan for a wedding is a good idea, in fact I think it is a terrible one. But building off what you've said, that they're older and can make bigger financial choices, I can see how a loan for the wedding can seem like a viable option to someone.