In the US, credit card debt stands at a staggering $1.17 trillion. WalletHub’s finance expert, Chip Lupo, advises couples on managing wedding expenses using credit cards wisely. By avoiding long-term debt and taking advantage of credit card benefits, couples can save on costs without financial strain.
credit card debt in the U.S. totals a whopping $1.17 trillion. More than half the couples that took part inBored Panda reached out to WalletHub’s finance writer and analyst Chip Lupo, to see what he had to say about using credit cards to cover wedding expenses. The expert believes it can
“For example, a rewards credit card or one with a 0% introductory annual percentage rate can reduce costs or provide valuable perks such as travel points you can use toward the honeymoon.” However, he adds that you should only charge what you can afford to repay during the interest-free period.There are other options, says Lupo. These include scaling back on wedding plans, hosting a simpler ceremony, or saving in advance.
accumulating new charges. “Make sure to stick to a strict budget to prevent further debt build-up,” he added. “Finally, contact your creditors to discuss payment plans or hardship programs if necessary.”“The best way to avoid debt when planning a wedding is to live within your means and plan ahead,” advises Lupo. He says the first step to avoiding wedding debt is to set a realistic budget and stick to it.“Spend what you can afford, preferably from funds saved and not borrowed,” he cautioned.
CREDIT CARD DEBT WEDDING EXPENSES FINANCIAL ADVICE CROWDFUNDING FAMILY ASSISTANCE
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Credit Card Debt in the U.S. Reaches $1.17 Trillion; Expert Offers Tips for Responsible Wedding ExpensesWith U.S. credit card debt totaling $1.17 trillion, finance expert Chip Lupo from WalletHub offers advice on managing wedding expenses responsibly. He suggests using credit cards with 0% APR or rewards programs but emphasizes the importance of repaying debts within interest-free periods and avoiding maxing out credit cards.
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US Credit Card Debt Reaches $1.17 Trillion: Expert Tips for Managing Wedding ExpensesCredit card debt in the U.S. totals a whopping $1.17 trillion, with many couples turning to credit cards to cover wedding expenses. Finance expert Chip Lupo from WalletHub suggests using credit cards responsibly, such as through rewards cards or those with 0% APR, to avoid long-term debt and capitalize on perks. However, he emphasizes the importance of only charging what can be repaid during the interest-free period and suggests alternative cost-saving measures.
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Credit Card Debt in the U.S. Surpasses $1.17 Trillion: Tips for Managing Wedding ExpensesWith U.S. credit card debt at a staggering $1.17 trillion, finance expert Chip Lupo from WalletHub offers advice on using credit cards responsibly for wedding expenses. He advises on the importance of avoiding long-term debt and utilizing credit card benefits effectively, such as rewards or 0% APR offers. Other suggestions include scaling down wedding plans and saving in advance.
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