Should you take loan for honeymoon?

A honeymoon is a special time for newlyweds to celebrate their love and commitment to each other. If the couple has carefully planned and saved for their honeymoon, then taking out a loan may not be necessary.

honeymoon

If the couple is in a rush to go on their honeymoon or simply cannot afford to pay for the rising cost of travel and accommodations, taking a loan may seem like a good idea.

However, there are few aspects that should be considered before making such a decision.

First and foremost, taking out a loan for a honeymoon means that the couple will be starting their married life in debt. While this may seem like a small amount of debt, it can quickly add up if not paid off in a timely manner. This debt can put additional stress on the couple and their relationship, which is not the ideal way to start a marriage.

Secondly, taking out a loan means that the couple will be paying interest on the amount borrowed. This interest can add up quickly, and the couple may end up paying much more for their honeymoon than they originally planned.

Thirdly, paying up EMIs on loan will impact budget for ongoing monthly.

So, it may be more prudent to go for a less extravagant honeymoon than taking up loan and impacting future days.

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