Need advice: Should I take a wedding loan to fund my sister's dream wedding?

[nooransari]

I’m facing a bit of a financial dilemma, and I could use some advice. My sister has always dreamed of having a lavish, fairy-tale wedding, and now that the time has come, I want to do everything I can to make her dream come true. The problem is, the wedding she’s imagining is way beyond our current budget.


We’ve been saving for a while, but we’re still a bit short. So, I’ve been looking into taking a wedding loan to cover the remaining expenses. After some research, I found My Mudra, which offers relatively low interest rates compared to other lenders, and they seem to have a good reputation. However, even though their rates are lower, it’s still a significant amount of money for me to pay off in the long run, and I’m wondering if it’s worth it.


I really want to give my sister the wedding she’s dreamed of, but I’m also worried about the financial strain this loan might put on me down the road. Has anyone been in a similar situation? Would you recommend taking out a loan like this, or should I consider other alternatives to keep costs down?


Looking forward to hearing your thoughts! Thanks in advance!

 

[Narinder Kumar]

I don't think one should take loan for wedding. However, you may consider following options :-

1. Ask relatives to contribute.
2. Put your some property on Airbnb.
3. Ask some advance salary, from your job.
4. Sell your liquid money - shares/MF.
5. Join my company Carmy as sponsor.

Thanks

 

[santanu47493]

Loan for wedding is worst idea just to satisfy sisters dream (which dream has no point)

 

[bekifaayatifan]

You are not her father. She is not your responsibility.

 

[Narinder Kumar]

You are not her father. She is not your responsibility.

Wow...
If Sister is not yours responsibility then whose?
What a rubbish advice

 

[bekifaayatifan]

Wow...
If Sister is not yours responsibility then whose?
What a rubbish advice

Are you a retard? It's her father's responsibility.
Just be quiet.

 

[Narinder Kumar]

Do you have a sister?

I'm not telling him to go all out for her's wedding. But telling him that his sisters wedding is not his responsibility is not understood.

I hope u r Indian.
Foreigners talk such language btw...

In Indian system, it's wholesome effort buddy...
Your issues r family issues and family issues are yours.

Rest is yours wisdom.
Thanks

 

[callkishi]

Taking loan for wedding is not a good idea in my opinion. I understand your sister wishes for a dream wedding. But, sit and talk to her. Wedding can be done decently well with a nominal budget. I wish not, but what if you run into a situation in the future, where you'll regret spending lavishly over the wedding? Its better if you put same funds in FD or Mutual funds on your sister's name, and she'll thank you for it in the long run, when that amount multiplies by many fold in few years.

 

[santanu47493]

Wow...
If Sister is not yours responsibility then whose?
What a rubbish advice

I think there is difference between responsibility and lavish, fairy-tale wedding (if my earnings is not supporting just to satisfy dream which can avoidable I think loan is bad idea)

 

[nikhilchauhan]

To respected members, we had a few reports from the users on the community regarding this thread. We analysed that this thread is going out of bounds. As the discussion is no more related to financial aspects. Hence, we are closing this thread for further replies. Hope each one of you understand!