Should you buy now, pay later for your wedding?
“Buy now, pay later” plans let you break up your purchase into smaller installments that you pay over a series of weeks or months
By JACKIE VELING of NerdWallet
Published - Mar 30, 2023, 09:39 AM ET
Last Updated - Jun 22, 2023, 11:53 AM EDT
As wedding season approaches, couples are booking venues, compiling guest lists and hiring a dizzying array of vendors — and they’re digging deep into their pockets to pay for it.
The average U.S. wedding cost $30,000 in 2022, a $2,000 increase from 2021 , according to a study from wedding website The Knot. Though weddings have long been expensive, inflation is pushing costs higher.
Couples may turn to increasingly popular “ buy now, pay later ” payment plans to ease the burden. These plans let you divide the total cost of your purchase into installments, often with no interest and zero fees if you pay on time.
But they have risks, and there may be better ways to fund your nuptials.
