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April 4, 2022

5 life events you can pay for with a personal loan

Marrying the love of your life, having a baby, moving to a brand-new place to start your next adventure—life’s biggest moments happen fast. Having limited funds can make it difficult to make the most of them.

Personal loans can help. They give you the financial flexibility you need to maximize life’s major moments, including the five listed below.

1. Getting married

Did you know the average cost of a wedding in the United States is around $30,000? Not too many people have this kind of cash ready and waiting to cover this substantial expense.

With a personal loan, you can throw yourself the celebration you—or your kids—deserve. And, with the right lender, the process of obtaining funds can be fast and easy.

Personal loans can help you cover the multitude of costs that come with a wedding, including:

  • The wedding venue and reception hall
  • Food and drinks (where the cost is typically per person)
  • Dress, tuxedo, and other clothing for the day
  • Photographer and/or videographer
  • Rings
  • Flowers
  • Entertainment

You might even consider saving some of your funds to cover your honeymoon.

2. Having a baby

If you’re getting ready to add a bundle of joy (or two) to your family, expenses are likely to pile up.

Now’s the time to envision your baby’s paradise. Imagine a decked-out nursery in a forest theme with frolicking foxes or maybe something nautical with dolphins splashing on the walls. Think of a top-of-the-line bassinet with all the latest safety features (the crib will come later). Picture all the other accoutrements that come with newborn territory (from a changing table and baby swing to storage space for oh so many diapers).

The cost to bring your dream nursery to life and cover your newborn’s expenses for the first year can be around $13,000 for the average family.

3. Buying a car

Ready to buy yourself a brand-new car? Is your son or daughter finally ready to get their license and get behind the wheel?

Either way, you don’t need us to tell you how expensive a car purchase can be. As of 2021, the average full price (including fees) of a brand-new light vehicle is over $40,000 in the United States.

That may be more than you expected. But with loans, you don’t have to worry about paying down this large amount all at once. You can still get your dream car by putting money down and making monthly payments.

Just know that typical auto loans aren’t your only option. You can also use our personal loans to pay for your vehicle purchase—and with our financial solutions, you don’t have to give a down payment.

4. Supporting a loved one

You never know when a loved one might need some help or a place to stay. If you’re thinking of providing support, have you considered whether you have the funds to cover all the necessary expenses?

Take one type of expense as an example: If you are going to pay for the health care of a loved one who is 66 or older for the remainder of their life, the total amount you will pay out of pocket could be around $100,000. If your loved one has severe health problems, this amount can be significantly higher.

Fortunately, personal loans can be helpful in cases like these when you’re in a bind.

5. Moving

Starting the next chapter of your life in a new place can be thrilling. Maybe you’ve got a new job. Perhaps you’re reuniting with friends and family. Whatever your reason for moving, you’ll have to consider how you (plus your family and possessions) get there.

Whether you’re hiring professional movers or factoring in the cost of shipping your belongings, the average move can cost thousands of dollars. Moving requires gathering and boxing up your belongings, as well as making sure they’re packed safely. Then comes transport.

In any case, the more you rely on the convenience of professional help, the higher your expenses will be. Luckily, personal loans can help with these expenses, too.

Get the most out of every moment

At BHG Money, we want you to experience how special life’s big moments can be by providing you with the tools to make the most of them. Our loans get you the funding you need fast and with affordable monthly payments.
There’s no hassle, no frustration—just support to help you achieve your personal goals.

See how affordable your monthly payment can be in as few as 30 seconds by using our Payment Estimator below. You can also contact our team at 866.280.5476, and we’ll create a financial solution that works for you.