<prompt> Human: Hi rpf, never posted here before, but searching the web has revealed no answers. My fiancée and I are taking out a 20k loan over 5 years to cover the cost of our wedding next year. The situation with the venue is that we pay a deposit and then pay the remaining 2 weeks before, so 12 months from now. My question for you guys is, we want to take the loan now, pay for everything on cards and periodically pay of our cards with the large lump sum. Firstly, is this a good idea? If yes, then what sort of bank account would be best to deposit this sum into, we would be looking for an account that pays good interest on balances over 10k but with minimal penalties for balance transfers. If I need to clarify anything please let me know, thanks in advance for your answers.EDIT:I mention that this is for a wedding for context, however I am really looking for some more general advice on what to do with a 20k once you have it, knowing that you are planning on spending it over a year. This money could have come from the lottery or inheritance, its really not that important. What is important is that it needs to be shared between two people, and while initially the sum will be quite large, it will slowly erode over the course of 12 months.Secondary EDIT:Ok so, a lot have people have mentioned that borrowing this amount of money is insane for a wedding, and to an extent I agree, however we are both quite traditional and given the average price of a wedding now is 18k cite: given this includes things like rings, honeymoons etc.We are saving for future housing at the same time, which is why we are considering a loan. If it was a question of pooling our savings for a year to pay for the wedding then we might be able to do this at a stretch, or certainly take a smaller loan out.I was thinking of advice more along the lines of: you can both open cash ISAs and saving accounts, and drip feed money in-between the accounts as given most savings accounts have a high interest cut off of 3k, then keeping all the money in one account is pointless, more savings accounts would pool the interest better.Tertiary EDIT:Thank you everyone for commenting so far, I really dont want to get bogged down in the whole wedding track, can we pretend it is something else like renovating a house or similar? I do however value everything that people have said, I am taking it all in.I also feel that some more disclosure is in order here, and I apologize for not giving the specifics sooner, so if people have more advice after this please do speak up!So we currently rent a property in London, the rent between us is typically what you might pay on mortgage repayments. We are looking to buy a house sometime in the next 2 years so the majority of our saving effort is going into that. For this, we will need something in the magnitude of 12-18K for the deposit. Our joint income is circa 93K, and we are looking to bag around 1800 a month in savings. Because like the impatient folk we are, we want to get a head start on saving for the house, we are basically trying to do both things at once. If we focused all our savings on the wedding, then afterwards we would have no loan or at least a medium-small loan but nothing towards a house deposit. If we continue our saving trajectory, we would be able to pay our 5 year loans repayment each month and still put money aside for a house deposit. This at least is the current thinking, we dont want to borrow money towards a house deposit, we would rather borrow money for the wedding and accumulate money for a deposit on a house.All advice welcome, thanks guys!  <response>: Youre asking so here is my personal opinion:Dont spend 20k on one day especially if you dont have the money. Its irresponsible and a terrible way to start your future together. Rather wait a little longer to get married, save a bit more and have a smallerless expensive gig. One of my friends got married last year, had 200 guests and a lovely venue and everybody had a great time. In fact it was the best wedding I have ever been to and they spent 8k. By borrowing the amount of money you are proposing at the rate you are proposing you will be giving the bank almost as much money as the best wedding I have ever been to cost. 