Make debt for wedding: whoever does this, spins

It is the stupidest and most unnecessary type of debt: According to a survey on behalf of the FinTech Raisin, every second couple in Spe picks up a loan to finance their wedding ceremony. This reveals how a large number of people are on the subject of money – and how megalomaniac you tackle the project. Anyone who is responsible for such an event should not be allowed to sign a marriage contract at all, but should be obliged to provide advice on the basic rules of the investment.

The top rule is: Never make debt for consumption. You can make sense for investments such as buying a house. But debts that do not pay off at some point harm. If you have debt, you can deal with money in everyday life or put it on the stock exchange – not paid loans reduce the return and ultimately your own assets.

The decision is also short -sighted because love later does not pay a nursing home. If you want to get married and spend several thousand or, worse, tens of thousands of euros for the wedding party, you have to wonder what that brings you in the rest. The money is gone forever. If you had put it on the stock exchange in stocks and bonds instead, it would later bring an additional income in the retirement.

Expenditures and yields are in no way in relation to an oversized wedding celebration. Nice memories of the supposedly “most beautiful day in life” in all honor. But would you be fault and spending the sum of a small car for a day in the most expensive amusement park in the world? Or dine in the most expensive restaurants on earth for a day? No, because it would be absurd.

The survey also states that many couples repay part of the loan costs with the money gifts for the wedding. 85 percent of the guests therefore give an average of 140 euros per person. For many wedding couples, this would pay off, because a good 46 percent estimate the costs of their celebration at a maximum of 100 euros per guest. This consideration is unfair and irresponsible to friends and family. Because why should you cross -financed the bride and groom that it can’t really afford?

In the end it should be said about defense: Financial education is unfortunately bad in Germany. At school she is often not an issue and if it does, then often so realistic that many young people switch off. That has to be much better. Nevertheless, if you want to get married, you have to be so responsible and honest to know your own financial limits. You first have to get the finances on the chain. This is definitely the more important decision for life than planning a wedding party. If the marriage shouldn’t work, at least you are not faced with a debt mountain.

So instead of burning a sum of money on pump for the wedding celebration, you should invest step by step via a savings plan on the stock exchange. This can only be just 50 to 100 euros per month. Then there is really something to celebrate after a few years, namely a return of an average of six percent a year. A small part of this additional money can also be used for a reasonable festival; One that you can really afford if you want to.