Many Couples Go into Debt Instead of Saving Money for a Wedding
Weddings can bring great joy, but also a significant financial burden to most couples. Gone are the days most parents endowed couple’s money to pay for the wedding. Many couples are facing a lingering trail of wedding expenses to create the experience of a lifetime. As the wedding cost rise, many couples exchange a “debt-free” entry into marriage for the wedding of their dreams. Throughout the twentieth century, the wedding industry has grown due to its efforts to commodify love and romance.
Weddings of the 21st century are leading many newlyweds into debt. The allure of having an elaborate wedding has resulted in a wedding cost increase over the past decades. Student Loan survey reported nearly 74% of couples are planning to take on debt to cover wedding expenses. Media and bridal magazines have played a leading role in developing the 21st-century wedding consumer culture. Over centuries the weddings have transformed from a relatively simple affair to a very elaborate event. Wedding components that were rare decades ago are now considered wedding necessities. As a result, these necessary components have led to increasingly high wedding consumerism and debt. That’s the reason why it is important to save money where you can when planning a wedding.
Why you Should not go into Wedding Debt
It’s just one day
The wedding day is just one day of your married life. During the wedding planning process, many individuals will assure you that a wedding is the most important day of your life. A wedding should merely be a celebration of an existing commitment to one another. Also, the wedding ceremony and reception pass so quickly that many couples forget the majority of their wedding day.
Money is one of the leading causes of divorce
Financial problems are a leading cause of divorce amongst couples. The debt incurred for weddings typically places unnecessary strain on the couple’s relationship. Researchers have found a positive correlation between marital instability and financial stress. The best way to start a marriage to incur debt on a wedding.
You have more important things to save for
In 2019, the average cost of a wedding soared to a whopping $33,900.00. The average amount spent on a wedding could be an excellent house down payment for most couples. Many couples failed to realize that saving for the marriage should take priority over saving for the wedding. Due to COVID-19, the average wedding cost has dropped to $19,000, which is a significant change from previous years.
Ways to Save Money and Have a Beautiful Wedding
Find a Cheaper Wedding Ceremony and Reception Venue
Believe it or not, the wedding venue itself is less of a priority for guests than you think. You can find a beautiful local venue without spending a lot of money! Great place to search for inexpensive venue options are:
- Historical homes, gardens, or land sites owned by your local government.
- Check out private homes or rustic barns being rented out on Airbnb or VRBO.
- Look into hosting your wedding at a local restaurant and bar.
Buy Your Own Alcohol
An open bar at a wedding is a very popular trend and a great way to save is to buy your own Alcohol. When selecting a venue and a caterer, make sure to ask if you’re allowed to supply your own Alcohol. If you can, this will save you TONS of money!
Purchase Inexpensive Wedding Invitations
Many couples choose very expensive wedding invitations to make a good first impression. Although wedding invitations can set the wedding tone for guests, it is also an item that will most likely be thrown away by most guests. Instead of spending a significant amount of money on invitations, consider doing the following:
- Use Canva and design your own invitations, have them printed by staples or an online print shop.
- Check out Moo and create a beautiful wedding invitation there.
- If you don’t have time to design, no worries! Check out Minted or Etsy to find invitations in your price range.
Talk to a Wedding Planning Professional
Sometimes the best way to save money on a wedding is to consult with a wedding planning expert. COVID-19 has sparked an uptick in virtual brainstorming sessions. At The Venlist, we offer virtual Wedding and Event Planning Brainstorming sessions that’ll help you save time and money. This is an excellent way for busy brides and grooms to get amazing money-saving tips on the spot and a list of vendors that are within Also, they can find vendors within or below your price point. Just remember, you can have a beautiful and memorable wedding without going into debt.