credit mariage financement

How do you finance your wedding easily? – Challenges

Passing the ring on your finger is an important moment in a couple’s life, but it is also a moment of special tension due to the expenses that it entails, Especially in the current context. The average cost of a wedding in France is estimated at around 12,000 euros, and most ceremonies cost between 8,000 and 15,000 euros. Between the parlor rental, caterer, service, alliances and entertainment, the bill can fly fast. Fortunately, there are ways to fund some of the festivities to cut back on expenses.

Get help from friends and family

Of course, the first instinct is to turn to those close to you (parents, friends, colleagues, etc.) to share in the costs of financing the wedding. You should know in this regard that the French tax system takes into account financial donations in the context of marriage. Any donation is tax-deductible up to a maximum of €31,685. Crowdfunding has also evolved particularly in this area around two axes. The first is participatory borrowing through cooperative credit platforms (such as United or Spear), which have doubled in recent years, and which provide access to loans at lower and lower costs. The second is participatory funding of services: sites like WedZem allow guests to participate financially, not in the wedding menu, but in paying for some of the sometimes very expensive services.

Sponsored weddings, a growing new trend

Sometimes media-sponsored weddings are still bad, but their success is still certain. It is a practice that developed in the United States, and operates on the principle of reciprocity, whereby a married couple asks a company of different sizes to help finance the wedding or provide a free service (hairdresser, restaurant, champagne house, etc..). On the other hand, the demand for sponsored weddings is getting stronger for a show that is still limited. Therefore, wedding sponsorship companies are increasingly demanding the profile of the bride and groom, the advertising around the wedding, and their engagement. Unless you have good visibility on social media or a blog/site with a lot of traffic, you will have a better chance of getting a sponsor if a local business is close to the party venue.

Financial aid for weddings

Strictly speaking, there is no government assistance to fund your marriage, but many organizations make it possible to receive benefits in scenarios that may include marriage or PACS. First, certain companies in the private sector (there is no marriage bonus in the public service, in the SNCF or in national education) can record in their employment contracts the presence of marriage bonuses that must be paid to you if you ask. If some employers can also give them without mentioning this in your contract, beware that these bonuses are not tax deductible, so you will have to declare them. The Social Business Administration Committee (CGOS) can also grant financial aid of 265 euros for marriage (on the other hand, PACS has been excluded) for employees of hospital environments. Some organizations, such as the Directorate General of Civil Aviation (DGAC) or Météo France, can allow their agents to obtain loans at preferential rates to finance their marriage, subject to a test of financial resources. Finally, reciprocal contracts can give wedding rewards, but they are conditional and often modest.

Marriage credit effective solution

The best solution for getting a full wedding financing is to get a specific loan from a financial institution. This is a classic consumer credit with no justification to use, if your financial situation allows it (the debt ratio should generally not exceed 33% of your net income). You can also go to a microcredit solution through social services structures if your situation does not allow you to be eligible for a traditional personal loan. Finally, revolving credit is also especially appreciated for wedding financing due to the money reserve which allows for more flexible use. Whatever the solution, take the time in advance to run a full simulation of the costs you intend to incur to determine exactly how much you want to borrow. A survey conducted by the credit organization Cofidis at the end of 2021 estimated the average loan amount sufficient to finance a wedding at 5,560 euros.

(by HREF Editorial Board)

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