Where can we borrow €5k for our wedding while both of us are unemployed?
- Thread starter BeachBride
- Start date
In fairness your'e entitled to your dreams and it sounds very romantic. Realistically, apart from family and friends, I can't see any institute lending you this money. passing around the hat or sponsorship might be an option. Don'y let the absence of funds spoil the occasion
BeachBride
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Lol, I know how 'fortnight in the Caribbean' sounds but getting married over here in Ireland would be a bigger hurdle than getting €5k together. I'd be fine with scaling back the amount of days we go for but himself isn't into spending over a grand on a 20+ hour flight and not spending a bit of time before flying home.
I don't have a Credit Union account but my OH does. We use his then instead of having one each. Our last loan was for €1,500 which we got for baby expenses before our little one was born. That's almost paid back now so we'll talk to them about the possibility of a 5k, 5 year loan . We do have a good record of saving and of repaying. We won't be wanting the money til next year.
I don't have a Credit Union account but my OH does. We use his then instead of having one each. Our last loan was for €1,500 which we got for baby expenses before our little one was born. That's almost paid back now so we'll talk to them about the possibility of a 5k, 5 year loan . We do have a good record of saving and of repaying. We won't be wanting the money til next year.
BeachBride
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Well now to be fair you've offered advice on a question that I didn't ask. I asked what would be the best option to borrow €5k over 5 years, not what is your opinion of our wedding plans.
If I were asking for advice on which part of Paris would be most suitable for me to move to as I've been offered a job in the French capital and you advised me to move to Gemany instead it would be unreasonable to expect me to follow that advice.
If I were asking for advice on which part of Paris would be most suitable for me to move to as I've been offered a job in the French capital and you advised me to move to Gemany instead it would be unreasonable to expect me to follow that advice.
Curlysue76
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I guess people, myself included, think that you'd be making a mistake spending so much on a 2 week holiday when it would take you 5 yrs to pay it back.
The credit union prob would be your best bet of a loan. Just keep paying off what you owe and then save as much as you can on a weekly basis to show them that you can afford to repay the loan.
Best of luck with the loan if you decide to go that way and have the best wedding and holiday ever. Make lots of lovely memories to keep you going for the yrs you'll be paying it off.
The credit union prob would be your best bet of a loan. Just keep paying off what you owe and then save as much as you can on a weekly basis to show them that you can afford to repay the loan.
Best of luck with the loan if you decide to go that way and have the best wedding and holiday ever. Make lots of lovely memories to keep you going for the yrs you'll be paying it off.
One important thing to factor in is your future income. If you remain on welfare I think you should budget for having 10% less income in about two years time. That will kill any chance you have of paying back your loan. Of course I can expect you'd be giving out blue murder about how you can't afford to feed yourself due to these cuts and your debs. Too many people had that approach. You have to consider the future always and budget for risk.
Another one who thinks if you are living cheek to jowl, its crazy to take on a loan of that size for a holiday.
If you are determined to be a 'BeachBride' you could consider cheaper options in Europe, Spain, Greece etc?
Your original question has been answered, bar friends or family, your only option is Credit Union, and even that is a slim chance.
If you are determined to be a 'BeachBride' you could consider cheaper options in Europe, Spain, Greece etc?
Your original question has been answered, bar friends or family, your only option is Credit Union, and even that is a slim chance.
PaddyBloggit
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Bottom line is that you can't afford such an expensive outlay based on your income.
Scale back your plans, save in the CU in the meantime and then look to borrow a smaller and more manageable amout.
Scale back your plans, save in the CU in the meantime and then look to borrow a smaller and more manageable amout.
Actually a far better analogy would be that you're standing there with an empty shotgun asking our advice on where to buy cheap cartridges! So you should not be at all surprised if people try to disarm you.
If this recession continues, then it is likely that your income will go down not up and that it will happen just around the time you'll be needing to make additional outlays for something such as you kids schooling for instance...or some other such emergency.
You can surely afford to get married. It doesn't cost much. (Wedding parties are of course a different affair).
Your second point is irrelevant. Everyone pays taxes.
Can't let this pass. It's not true.
Maybe just maybe, on a money website, that tries to inform people on their best finanical options, maybe, you ought to actually hear and head the advice of people who have been there done that and seen people in your predicament over the years.
Why can't you get married in a low key registry office?
Nonsense.
When I read this the other evening I guessed it would get lots of comment.
You answered your own dilemma in the first line-the best way is to save and if you cant save for it, its a non runner. You also mentioned in a later post that you have a young child - which makes it even more unlikely that you will get a loan from a bank, or even a credit union or could afford to pay one back. (thats how the bank will view it)
You dont need to borrow this amount of money-you want to.
You dont need to go to the Carribeen to get married-you want to.
Is there any chance of either of you returning to work soon that would assist your circumstances? If not, you need to think again about your plans. However, let the banks be the final arbitrar on this-submit your application and let them decide the merits of advancing you the money you need for this.
Would have to agree with Bronte on this one - we got married in a registry office and had only close family for a meal afterwards. The money we didn't use on the wedding was used as a deposit on our first house, which over the years has allowed us to become mortgage-free homeowners.
A friend of mine, whose husband and herself were on modest salaries, arranged a wedding abroad during the boom. They got married in Oz, flew 14 immediate family members to Oz and paid for hotel accommodation, meals, entertainment, etc.. Then because the rest of the 'clan' in Ireland had to be entertained as well, they held a blessing in Dublin and invited over 200 guests to the service and reception with dinner and dancing etc.
The 'do' cost them a small fortune, which they are still paying off 7 years later! They now have two children, live in local authority housing and the two extravagant weddings are all forgotten, save the monthly payments for the debt, which she now admits reminds her how very foolish she was. She would give anything to turn the clock back so she could have been able to have money for her children now.
Each to their own, but I'd be very reluctant to take on debt while unemployed to fund a wedding. Maybe OP could postpone until the employment situation improves?