How Much Money Do You Need to Get Married?

Publish Date: in Money Tips

How Much Money Do You Need to Get Married?

Which Banks products may help you to get married?

Marriage expenses are one of the largest stressors for young couples and the range can be huge depending on socioeconomic backgrounds and major decisions like buying vs. renting a house. In this article, we’re going to try to summarize marriage expenses for people with an income between 6,000LE and 10,000LE in addition to giving you some tips and tricks on how to save a penny.

 

Here’s a basic summary of the typical expenses:

 

  • Engagement: 5,000 LE
  • Engagement Ring: 25,000 LE
  • Dowry:50,000 LE
  • Furniture Per Room:15,000 LE
  • Electrical Items (Tv, washing machine, etc)8,000 LE
  • Wedding:50,000 LE
  • Official Ceremony:10,000 LE
  • Bride Wedding Preparation:10,000 LE
  • Honeymoon:15,000 LE
  • Apartments Purchase Price:~500,000 LE

 

Based on the above the average amount you need to get married is about 190,000 LE excluding the apartment. 

 

We’re not sharing all this to depress you, on the contrary, we’re here to tell you the solutions to your problems and which banking products might suit you best. 

 

Credit Cards:

 

Furniture, electronics, and all the other small items can be easily paid through your credit card in addition to the venue and other small things. The credit card will give you two main benefits (a) a period in which to pay without interest (48-58 days depending on the card) and (b) points which you can redeem for cash or other rewards. 

 

ِAlso make sure to check what vendors have deals with your credit card provider as you can get discounts or even pay over a period without interest.

 

Check out which credit card might suit you best here.

 

The credit card will give you a period in which to pay without interest (48-58 days depending on the card)

 

Personal Loans:

 

As for the large expenses (wedding, ring, and dowry), it's much better to take a personal loan which would allow you to repay the amount over up to seven years. 

 

Check out which personal loan might suit you best here.

 

Mortgage or Home Loan:

 

As for the apartment, there are now specialized loans just for buying your home with tenors reaching 15 to 20 years.


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