Do you have a pressing financial question where you could use a bit of expert help? Email email@example.com. We’ll be answering money-related questions on the regular via this new column and tapping a network of advisors known for their sound wisdom and expertise. Today’s expert is Lauren Anastasio, Wealth Advisor at SoFi and a Certified Financial Planner.
“My fiancé wants to take out a small loan for our wedding (and the ring), but I’m hesitant. Is this a bad idea?”
Talking about money is difficult, so discussing it in the context of a wedding is bound to stir up emotions. How you choose to finance it is ultimately up to you and your fiancé, but the most important thing is that you’re on the same page.
As you consider a personal loan, you need to first have a conversation about how much debt you’re willing to take on—and also how you plan to prioritize paying the loan back.