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How to pay for a wedding using a Prana Circle

Updated: Oct 19, 2020

A wedding in the US can cost upwards of $33,990, with honeymoons costing $5000 on average. There are various ways to pay for a wedding and Prana Circle is an innovative way to do so. But first let's look at three common ways couples pay for their wedding.

Family and friends route:

For a lot of couples, parents usually help out with some big expenses or take on the whole show. Some couples cast a wider net using crowdfunding to have their family and friends contribute based on their comfort levels. This could also be an in kind donation where a loved one offers to pay for flowers, or the cake. We had a wonderful wedding where an amazing set of family and friends contributed towards photography, cake, decorations, entertainment and more!

Savings route:

Saving for your wedding sounds like an organized adult thing to do. However, if the budget for your wedding is $20,000 and you can only put away $500/month each (total of $1000/month), then you will be saving for well over 1.5 years before you can get married. You will also have to make a deposit on things like a wedding venue and catering beforehand, which would add another 6 months to your wait period. Weddings tend to cost most, and people tend to save less so the above estimate is the best case scenario.

Credit card route:

The same wedding expense of $20,000 on a 15% APR credit card, where you are paying down $1000/month would incur an interest of $3,158 according to the bankrate credit card interest calculator. That is close to 15% of your wedding expense. A study by Student Loan Hero states that about 74% of couples go into debt to pay for wedding costs. Starting off a life together with debt is probably not something a lot of us plan but fall into because of lack of choices.

Prana Circle Combo route

Prana is a combination route where friends and family can help you save towards your wedding.

Here is how it works:

You create a ‘Circle’ of family and friends using the Prana App where you decide how much you want to save and when you want these savings.

For a $20,000 payout, where you want to contribute $1000 every month jointly as a couple, you would invite 20 friends and family to participate.

Everyone contributes $1000 every month towards one person's savings goal. These contributions happen every month till all circle members have received a lump sum towards their short term savings goal.

You can opt to get your payout first and pay for your wedding. Unlike credit cards, you pay zero interest.

The second payout can go towards your cousin Cynthia who could put it towards her new business, the third payout can go towards your Uncle Bob, who could put it towards his child's college tuition payment, and so on. This way everyone can get a lump sum and put it towards a short term financial need while also helping someone else in the family reach their goal.

Don’t have family and friends who could join your circle?

No worries! Prana Circle has you covered there as well. Prana Circle connects you to other people like you who are also looking to pay towards a big budget item. So your $1000 helps pay for someone else's furniture, college, vacation, down the line and their $1000 goes towards your wedding right now. We are slowly rolling this feature out and would love to have you try it.

Prana Circle is community based savings and credit where you don’t owe money or interest to big banks or credit card companies. This type of savings is well known within immigrant communities who rely on each other to save towards the American dream, and might not have a credit history to take out a bank loan. But the simplicity of this system means that it can be used by a broader set of people who are looking to avoid paperwork for bank loans and high interests on credit cards.

So if you are looking to pay for your wedding this coming year, Prana might be a solution that could help you get the money you need, when you need it, without paying any interest or doing any lengthy paperwork. All you need is some organizing power to put together a Prana Circle.

If you have questions regarding Prana Circle and if you could use it to pay for your wedding, please email us at

You can download Prana for Apple and Android.


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