Where to get money for a wedding and how to get financial assistance in connection with a wedding

Option 1: borrow

Borrowing money from relatives for a wedding is not the best idea, because when they come to the ceremony, they will give money again. And the couple will repay the debt from the donated funds - an unpleasant cycle of money. The same goes for money for anniversaries.

Some people save money for the event on their own, and already during the organization, if there is a lack of money, they turn to relatives and friends for help. In this case, you will not need to borrow as much money.

Advice! Most people prefer to simply borrow money, but for security reasons it is better to issue a receipt. The document has legal force and will serve as evidence in case of disputes or trial.

Note! In the era of coronavirus, everyone is looking for additional opportunities to earn money.
It’s surprising that you can earn much more using alternative methods, up to millions of rubles a month. One of our best authors wrote an excellent article about how thousands of people make money in the gaming industry on the Internet. Read an article with reviews about making money from games.

Financial assistance for a wedding from an employer

An employee of an enterprise has the right to count on financial assistance for their wedding.
In connection with a marriage, the employing company can pay financial assistance to its employees. This possibility must be indicated in regulatory documents relating to the remuneration system in the organization (collective agreement, labor agreement).

According to current legislation, the employer is not obliged to make such payments; financial assistance is credited only at his discretion.

If such material incentives are practiced at your place of work, then the only mandatory condition for receiving money is the official registration of marriage. Registration of financial assistance in connection with marriage:

1. The employee writes a statement stating his request (drawn up in the name of the manager).
2. Documents the existence of the basis for payment (you must provide a copy of your marriage certificate).
3. Sends by mail or independently provides documents to the HR department. After verification, the application is submitted to the manager for signature.
4. If a positive decision is made, the manager signs the corresponding order and sends it to the accounting department.
5. Funds are credited to the applicant’s salary card or account.

Amount of payment for marriage and taxation

Financial assistance for a wedding does not have a set amount at the legislative level. When writing an application, the employee can indicate the desired amount, but the final payment will be determined depending on the internal regulations of the enterprise.

The amount of financial assistance is:

• arbitrary – determined by the manager or other authorized person for each employee separately;
• fixed – specified in the collective agreement and is the same for everyone;
• differentiated - determined in accordance with the company’s internal regulatory documents (depending on length of service, salary, etc.).

Financial assistance is not taxed if the amount received does not exceed 4,000 rubles. Otherwise, personal income tax will be calculated from this payment, and it will go to the applicant’s account minus 13%.

How to make an application for financial assistance using the sample

The application is drawn up in any form and may contain the following data:

• Full name, employee position, name of department or unit;
• series, number, date and place of issue of the marriage certificate;
• the required amount (optional);
• list of attached documents (in particular, a copy of the certificate);
• date and signature.

.

If the HR department refuses to apply for financial assistance, contact higher authorities. Management is obliged to accept your application, register and review it.

Option 2: targeted lending

Such a loan can be taken out from almost any bank in the country. A significant advantage is the fairly fast processing time for the application and provision of money. It is worth paying attention to the fact that the tariff for wedding loans is significantly lower than that of a simple consumer loan.

More often than not, a wedding loan does not differ in any way from a regular loan:

Loan selection service

Choose a loan according to your needs and capabilities

• Microloan

1. There are many return methods. Typically, the borrower is provided with a payment schedule for loan obligations. Equal payment amounts can be established for the entire period of the contract (annuity payment), or unequal payments (differentiated payment).
2. The period for which the loan is provided is determined. You can take out a short-term loan or ask the bank for a long-term loan with a repayment period of one to several years.

Many banking institutions offer special bonuses when applying for a wedding loan. The programs for newlyweds include:

• reduced interest rate;
• long-term loan term, up to 5 years;
• convenience of early repayment of debt without interest.

The only difficulty is that you will have to provide documents from the registry office, namely a copy of the application as confirmation of the upcoming celebration. You need to complete the required package of documents and submit it for verification to the bank quickly and in a timely manner. Otherwise, the organization of the wedding will have to be carried out in turmoil.

Advice! When applying for a loan, it is better to submit a loan application to one of the newlyweds who has a high regular income. And if the other half acts as a guarantor, the chance of approval of the application is higher.

Where to get money for a wedding - obvious options

To begin with, let’s highlight simple options for raising money for a wedding celebration:

1. Accumulate
   . This method suggests itself. The future husband and wife can “tighten their belts” and collect the necessary amount by saving. This method is relevant for a couple with a job and a stable income. In the case of university students, there is nothing to save from. In this case, it is important to pay attention to other ways.
2. Make money.
   To save money, future spouses can find additional work - in everyday life or on the global network. There are thousands of ways to get it. Just go to the Internet and type in the appropriate query, for example, how to make money.
3. Take it from your parents
   . Despite the independence of the young couple, expenses for the wedding celebration are often covered by close relatives (if possible). In such a situation, the young couple decides only on organizational issues, and the parents are in charge of financing the wedding. This is a convenient option, because you don’t have to give away money.

Option 3: consumer loan

The fastest option for getting money for a wedding is a consumer loan. If one of the newlyweds has already taken out a loan from this bank and has a good credit history, then taking out a loan will not be difficult, and the processing will be much faster.

Interesting! A consumer loan can be taken out for a wedding, anniversary or housewarming. Organizing a funeral with this type of loan is also possible.

The advantages of a consumer loan are that you can spend the funds at your discretion. But you will have to report to the bank for targeted wedding lending. A more pleasant thing is that for a consumer loan there is no need to collect a lot of documents. And if you provide the bank with property, for example, a car, as collateral, then there is the possibility of approval of a more substantial amount.

The disadvantage of such a loan is long repayment periods and an increased interest rate from 11 to 24% per annum. Early repayment is possible only 3 months after receiving the loan.

Lending at Sberbank

At Alfa-Bank, in order to take out a loan for a wedding, it is enough to fill out an online application in 15 minutes; you must indicate basic information in it: passport details, contact telephone number, email address, registration address, place of work, etc.

Applications are reviewed within 1–2 days, after which you will receive an SMS notification or a call from bank specialists at the phone number specified in the application.

https://www.youtube.com/watch?v=Gs-iT7b6Liw

It is enough to come to the bank branch once and receive money on the same day. Contacting Alfa-Bank solves the problem of where to get money for a wedding as quickly as possible.

You can urgently find out how much remains to repay on the loan, and you can now make payments in the Alfa-Click mobile bank. You can also perform account transactions, get answers to your questions in an online chat, and find the nearest ATM with one touch in the Alfa-Mobile mobile bank, compatible with tablets and smartphones on any mobile platform.

Those wishing to quickly take out a cash loan using a passport for a wedding should first decide on the exact amount of borrowed funds and select the optimal banking product.

The applicant needs to objectively assess the stability of his own financial situation, as well as calculate the amount of upcoming expenses. Choosing a non-targeted loan will allow you to spend money on any needs without reporting to the lender.

The process of selecting a loan program involves assessing the essential characteristics of loans:

• lending limits;
• deadlines for fulfilling obligations;
• interest rates;
• the amount of additional commissions;
• the possibility of early repayment of the loan with recalculation of interest at any time during the term of the agreement.

An instant calculator available on the website of any financial institution helps you calculate future payments.

Successful issuance of a consumer loan from a bank ensures that you receive money for your wedding with favorable conditions:

• registration without unnecessary red tape;
• low interest rates;
• gradual repayment of debt;
• easy monthly payments;
• personal decision of the borrower on the advisability of purchasing an insurance policy;
• significant savings when repaying the loan early.

The borrower will only have to organize an unforgettable celebration, repay the loan on time and increase his personal credit rating.

You cannot rely only on the interest rate. Before making your final choice of bank and loan, you need to carefully study other lending conditions and figure out whether it’s worth taking a loan.

Also read: Where is it more profitable to take a consumer loan: conditions of the TOP 10 banks, documents for a cash loan and reviews

Renaissance Credit

At any time during the contract, the client can repay the borrowed amount ahead of schedule. There is no loan servicing fee.

Citibank

Citibank has prepared only one loan product for newlyweds - a non-targeted loan. The maximum amount you can receive from the bank for a wedding is 2,500,000 rubles.

The loan agreement is concluded for a period of up to 5 years. Loan servicing is free of charge, so you can always repay the loan ahead of schedule.

VTB 24

VTB 24 offers two loans for your wedding - “Convenient” and “Large”. From the names of credit products you can judge their differences, but let’s get acquainted with the conditions in more detail by referring to the table.

The choice of program will depend entirely on the scale of the planned event. Early repayment is also available at VTB 24; loan servicing is completely free.

You can submit an application in one of three ways: by phone, through the official website and at a bank branch. The duration of the decision is from one to three days.

Also read: Refinancing loans at VTB 24 Bank: conditions, rates and reviews

Home Credit

Home Credit offers one product, but in two variations. The first is intended for existing bank clients, the second for newcomers.

You can fill out an application for any of the loans presented on the website or at a bank branch. There is no fee for issuing borrowed funds. A nice feature of the offer from Home Credit is the ability to choose a payment schedule.

Also read: Car loan at Home Credit Bank: conditions, loan calculator and online application

Touch Bank

This bank developed a loan specifically for weddings. It’s called “Wedding Loan”.

The bank is ready to allocate up to 1,000,000 rubles for the celebration for a period of up to 5 years. A prerequisite for obtaining a loan is obtaining a bank card.

This is where the money will be transferred. You can apply for a card online on the bank’s website, and you can pick it up on the same day.

It is worth paying attention to the procedure for withdrawing funds from the card. In the first two weeks after issuing a card, you have the right to withdraw any amount from any ATM without commission. Then you will be able to withdraw only 150,000 rubles per month for free. For withdrawals above this amount you will have to pay a 2% commission.

Sberbank

At Sberbank, future newlyweds may be interested in two consumer loans: “Without collateral” and “Guaranteed by individuals.”

In both the first and second cases, you will be able to repay the debt before the expiration of the contract. You won't have to overpay. A guarantee is required to increase the available loan amount. However, the guarantor must, like the borrower, have sufficient income and a “clean” credit history.

Also read: How to get a loan from Sberbank without insurance: procedure, reviews from borrowers

Alfa Bank

Another bank that decided to take care of lovers and created a “Wedding Loan”. The amount with which you can celebrate your wedding can be up to 1,500,000 rubles.

However, the amount affects the interest rate: the larger the loan, the lower the interest. The debt must be repaid within 5 years, but you can pay the bank ahead of schedule without fees or overpayments.

VTB Bank of Moscow

Preparation for any wedding begins with drawing up a cost estimate. At the first stage, the couple must decide what they want, how they want it, and on what scale. Main expense items:

• Wedding rings cost about 10-15 thousand rubles. for each. You will have to pay about 8-10 thousand more for engraving.
• A bride's dress can cost 40-60 thousand rubles. depending on the style and length. More sophisticated outfits cost about 80-90 thousand rubles. and higher. You can save money and rent a dress, it will cost about 15-40 thousand rubles. Another about 3-8 thousand rubles. will be needed for shoes and other accessories (garter, underwear, etc.)
• A groom's suit can be found in the range of 15-25 thousand rubles. shoes.
• The bride's look (wedding makeup, hairstyle, etc.) will cost approximately 5-8 thousand rubles. with a technician visiting your home
• Photo and video shooting. It is better not to save on this expense item. The services of a professional wedding photographer will not be cheap, about 40-70 thousand rubles. Operator services cost no less.
• Wedding organizer. If you want your wedding dream to come true and everything to go as planned, it is better to hire a wedding planner who will be responsible for everything (decorating the car, restaurant, tables, invitations, finding a DJ, toastmaster, etc. ) To organize a wedding in Moscow you will have to pay from 40 to 100,000 rubles. depending on the details and decorations.
• A wedding dance is another expense that many people forget about. A dance performance and 6 lessons from a master will cost 7-10 thousand rubles.
• Renting a room for a celebration will empty your wallet by another 20-50 thousand rubles. depending on the location. The average cost of a banquet is 2000-4000 rubles per person.
• Florist. You can spend about 4,000-8,000 rubles on a bride’s bouquet and a boutonniere for the groom.
• Wedding procession. Average prices for renting a limousine in Moscow range from 2,500 to 5-7 thousand rubles. in 1 hour.
• First wedding night and travel. A room for newly-made spouses in a good hotel will cost about 10-20 thousand rubles. But the cost of a honeymoon will depend on the country. On average, from 80 to 150 thousand rubles are spent on this expense item.

As a result, the amount accumulates is decent and varies in the range from 450 to 900 thousand rubles. Of course, you can save on many expense items, and even cross some off your list, but is it worth doing?!

This should be decided by whoever is paying for the wedding. But it often happens that a loan for a wedding in Moscow is taken not by the bride and groom, but by their parents.

For example, if a couple does not have their own funds, they are young, do not yet have good work experience, or they have been refused a loan. In this case, parents will have to take out a loan for their daughter’s wedding in Moscow.

If there are no alternative options for where to get money, then of course you need to take out a loan for your wedding through a bank. In this case, there is no point in trying to save or save, because you can accumulate the required amount in 5-10 years. And I want to have a wedding here and now.

If you decide to take out a loan for your wedding, you need to draw up a detailed cost estimate, taking everything into account. In this case, it is better to borrow an amount 10-15% more than the amount of expenses in the estimate.

This money may be useful in case of force majeure or additional expenses that were not taken into account in the estimate.

Banks do not have special targeted programs for wedding lending. In return, they offer a regular consumer loan for urgent needs.

In order for the interest rate to be minimal, you need to prepare a full package of documents confirming the solvency and employment of the borrower (2NDFL document on salary for 6-12 months, a scanned copy of the work book with certification or an employment contract).

At the same time, it often happens that it is the parents who take out a loan for their daughter’s wedding in Moscow, and the children act as guarantors.

This is due to several reasons. For example, the bride and groom are not officially employed; their “white” salary does not allow them to borrow a large amount. Young age can also be a reason for refusal. Many banks lend to borrowers aged 23-25.

Among the optimal lending options without collateral or collateral, we can highlight loans from Sberbank, VTB-24, Otkritie Bank, Uralsib, and MKB.

For example, Moscow Credit Bank offers borrowers up to 2 million rubles. for a period of up to 15 years at a rate of 16% per annum.

At VTB-24 you can get a “Large” loan in the amount of 400 thousand to 3 million rubles. at a rate of 17% per year for up to 5 years.

Sberbank offers an unsecured loan in the amount of up to 1.5 million rubles. at a rate of 15.9% to 23.9% per year. A similar amount can be borrowed from Otkritie Bank at a rate of 16.5% to 27.9% per annum.

Uralsib Bank is ready to lend up to 600 thousand rubles. for a period of 13 to 60 months at a rate of 22% to 27.5% per annum.

You can borrow up to 1 million rubles from Pochta Bank. for a period of 1 to 5 years at a fixed rate of 19.9%, 24.9% or 29.5% per year. The final percentage will depend on the individual verification of the borrower.

Citibank consumer loans are issued in amounts up to RUB 1 million. for 5 years. The % rate varies from 15% to 25% per annum and depends on the CI assessment and the client’s solvency.

https://www.youtube.com/watch?v=AYyTqFarzmM

There are two common ways to obtain the necessary amount for organizing a wedding. The first is a regular loan without a clear definition of the intended purpose.

You receive money from the bank, and you can spend it on a variety of purposes, including a wedding. Let us remind you that the smaller the loan amount, the less paperwork and difficulties in obtaining it.

The second option is to obtain a targeted loan specifically for the wedding. Of course, in order to receive such a loan, you must provide the bank with documents from the registry office confirming your intentions.

Banks providing loans for weddings often offer quite favorable conditions - lower interest rates, longer lending periods, as well as the possibility of early partial or full repayment without sanctions.

The last point is especially important, since the newlyweds have the opportunity to use the money donated by the guests to promptly pay off the debt.

The subtleties of wedding lending: is it worth taking out a loan for a wedding celebration? On average in Russia, the cost of a good wedding is 200,000–300,000 rubles.

Today, in at least four Russian banks you can take out a targeted loan for organizing a wedding. The most magnificent celebration will be financed by RosEvroBank or NS Bank, which offer their clients up to 500 thousand rubles.

If there are not too many guests, a “Bride’s Bouquet” loan from Agroinkombank in the amount of up to 200 thousand will do. Avtogradbank is ready to finance a modest ceremony “only for our own people” worth up to 100 thousand.

Option 4: urgent loan

If your credit history is damaged, or you simply don’t have the strength or desire to go get certificates and a bunch of documents, you have the opportunity to take out an urgent loan. Such a loan is issued within a few days, the funds are transferred to a bank card, and no explanation is needed to provide where the money is needed. The obvious advantage of this type of lending is:

• speed of provision of money;
• no need to collect a package of documents;
• comfort of withdrawal.

The negative aspects include the extremely high interest rate. Thus, in MFOs, interest can reach 4% per day, which corresponds to 1440% per year. Many consumers wonder where such overpayments come from, but it is interest and pennies that serve as insurance against non-payers.

Term loans have a fixed period during which you can repay the money without paying interest. It is worth considering that banks have different interest-free periods, which can last from one to three months. For newlyweds planning to spend 100,000 rubles on their celebration, this lending option is more profitable. But you need to remember one thing - the interest-free period begins to work from the moment the card is activated.

Fact! It is necessary to take into account the fact that banks check outstanding loans and payments. Even debt for mobile communications can serve as a refusal to issue a loan.

The most popular methods

• We rely on our own funds. The peculiarity of wedding expenses is that they are needed in full at the end of the gala evening. This applies to payment for the feast, toastmaster, and video filming. If the bride and groom have at least part of the funds, then the final payment can be made from the money donated by the guests. In this case, you do not depend on anyone, you will not owe anyone. There is a possibility that the donated funds will not be enough for the final payment, but it is small.
• Take a microloan. Such a loan will be given to you with great pleasure at any MFC. You can even take it online for one hour. But you should understand that the interest rate in such organizations is extremely high. And one more thing - they give a big loan for everything at once. To be guaranteed to receive a significant amount, you need a good credit history. In other words, take a small amount for a short period of time and pay off the debt on time. Then, if necessary, increase the amount and also pay carefully.
• Sell ​​valuables. It could be anything - antiques, a collection of records, stamps, books, coins, icons, etc. Collectors buy strange things you don’t need for themselves or for further resale, so you can’t hope for an easy solution to all problems. However, partial reimbursement of wedding expenses is guaranteed.
• Rent out your property. If the groom has his own home and has the opportunity to live with his parents or friends for some time, then why not rent it out? This is an excellent option for residents of the capital's metropolis and resort villages (during the season). Taking a few months' rent from your tenant will solve some of your financial problems.

Another exotic way is to collect at least part of the required amount on social networks. If your accounts have a large number of subscribers, create intrigue - squeeze out a virtual tear, promise a killer stream, an online wedding video or something else creative. In return, ask for a thread from the world. This format often works well.

As an option, try to become participants in a television wedding show, where the organizers generously hand out prizes. Not everyone comes across such winning lotteries, but who the hell isn’t kidding?

If all of the above does not suit you, do not look for easy ways to borrow from the criminal environment. At first glance, everything is simple and without unnecessary formalities, but it is very difficult to settle accounts with representatives of this environment.

Business focus

The services of a wedding agency are quite extensive. Before starting your own business, think about what you want to offer the client. For example, you intend to create a salon to provide services to individuals for holding weddings and providing the event with everything necessary. Or you want to open a studio that rents dresses for the bride and groom.

If you settled on the last option, then you need to focus on the chosen narrow direction. In this industry, you need to analyze the service market in your city, giving it an objective and complete description. Pay attention and evaluate all the pros and cons of your competitors. Copy all the best that they have and in the future take into account the shortcomings of their work.

Payback period

It is enough to carry out simple calculations to understand that everything will pay off very quickly, which is exactly what happened for us. This is 7 orders for 6000 rubles. But if you consider that we almost completely paid for the speakers at school discos, then it was easier for us. There won’t be many orders right away, but after six months we already had consistently 1 order per week (Friday or Saturday). We paid it all off with interest in about a year, because... Not all the money was given for a loan; you have to eat for something! And then this equipment worked for us.

Where to get money without loans

Another way to get enough funds for a wedding is to go to a car pawnshop. This is more profitable than a bank loan for several reasons:

• There is no need to collect a lot of certificates and certificates. To obtain a large loan, a passport with registration and documents for the car are enough.
• The loan is issued quickly. The pawnshop makes a decision within an hour, after which you can come and complete the transaction and receive the required amount at any time of the day.
• Interest rates at a car pawnshop are lower than bank interest rates. In addition, there are no penalties for early repayment and other pitfalls.

The main advantage of such a loan is that you can take out a loan not only against the security of the car itself, but also the title. In the latter case, you do not leave the car in the pawnshop parking lot, but continue to use it. When a car is used as a guarantee, you can receive up to 85% of its appraised value. When borrowing against a vehicle title, this amount is reduced to 50-70%, but the vehicle remains with you.

There is already a lot of hassle before the celebration, so additional collection of information from authorities will create unnecessary inconvenience. The auto pawnshop will save you from this. Even if for some reason it is not possible to return everything on time, most companies can extend the lending time.

A magnificent wedding is a holiday that will be remembered for a lifetime. You shouldn't skimp on this. And with favorable loan terms from a car pawnshop, you can afford exactly the kind of celebration you’ve always dreamed of!