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Should i put it all on a credit card or get a loan?
I'm getting married in August next year. I'm graduating this december. So i'll only start working in january. My fiance is working. We will need money for the wedding and for setting up our new home. Guessing wedding will hit ard 20k & i'll need the basic start ups 4 a home that is bed/washing machine/min kitchen stuff/ so if we stay simple n slowly buildup prob ard 6k for basics......getting the loan is not the issue...i just would like opinions on whether a loan or credit is better.
With a loan i gotta make fixed payments for yrs (hate the timeline) but with credit you pay as much as u can asap n if i understand right interest is on amt left to pay (am i right?). And i would prob pay off at least 1200/mth. So comparing interest on the loan and on credit...which would be better? Never owned a credit card so i'm lost at that.
I should add that if i pay more on the loan there's a penalty. for a 10k loan, interest can be up to 4k in total.
y a big wedding? this isn't a big wedding. This is normal...because of dowry/ exchanged gifts between partners & in my country parents don't usual help out coz they haven't got the money to help out.
i am not living in the U.S
oh n a honeymoon would only cost ard 2k & less if there is no shopping. i have heaps of tropical islands which will cost me ard 60 bucks to reach ard me.
Oh n the way things are set up here i won't have to fork out anythin for a house i just need to have a stable job
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