The $30,000 question: Why we are all hypocrites about the cost of a wedding?

Jimmy here. I wanted to give all of our readers 3 quick tips on how to have the wedding that you want  without having to go into the poor house!

Have you ever talked with your friends and family members about what’s appropriate to spend on a wedding?  Wedding costs are one of the most debated topics of all-time.  Everywhere you turn, you’ll find a new opinion. What is reasonable for some, is completely ridiculous to others.

Some brides want a DIY wedding to save money with everything.

Other brides have an open checkbook (or credit cards) and nothing is off-limits.  According to TheKnot.com the average wedding in America costs $29,858.  The average age to get married is 31 for the groom and 29 for the bride.   For perspective, the median income in the entire United States is $43,317.  That’s right, basically after-taxes somebody work an entire year to pay for the cost of a single-day!

Here’s the thing with wedding costs.  I don’t care what anyone says: NOBODY WANTS TO SACRIFICE QUALITY ON THEIR WEDDING DAY!

I’m naturally a “budget” person.  However, nobody wants to look back on their wedding day and regret not having a DJ and instead having a karaoke machine (yes, that was my wedding!)

I got married young (like REALLY YOUNG) and even had the benefit of Bud Light banners on the walls.  I digress.

Below are some things you can do to have the wedding of your dreams without sacrificing quality:

Budget

I’m sure all brides and grooms are going to choose this option.  However, in reality this is the hardest to implement.  Are you going to have a $30,000 wedding?  Assuming your parents are throwing in $15,000 that leaves an obvious $15,000 to budget for.

Assuming a 12-month engagement are you realistically going to save $1,250 a month while probably moving and partying with your wedding party and fiancé? No, you probably won’t save your way there.

So let’s look at another option…

A Wedding Registry

A Gift Registry – this is the most underutilized tool brides and grooms have.  Even though you are ultimately responsible for your own wedding day, for some reason brides and grooms still register for multiple blenders.  Increasingly however, brides and grooms are getting a cash registry or registering with their wedding professionals.

According to credit.com the average couple spends $167 for a wedding gift.  This can go a long way towards the wedding of your dreams.

Family

Historically, the bride’s parents paid for 100% of the wedding cost while the grooms family paid for the rehearsal dinner and the honeymoon. However, this is rapidly changing.  With second marriages and less money all around in this economy it’s tough for any parent to stroke a check for $30,000.

However, you can leverage your registry so more family members can contribute this way.  Everybody has a rich Uncle right?

 

Summary

So what can you do now?  You can start planning.  No matter who you are reading this article you should think about all of your major purchase decisions over the next 5 years.  How are you going to afford them?

What goals do you have to hit to achieve those items?  Whatever you do, don’t go into debt for these items.  All of this does is increase instant satisfaction while also decreasing your net worth and income.

So what if you’re a wedding professional and want to implement a registry to make more per wedding and help build your business?  I’m sure you have questions how to do this.  Go check out Ciderr.com for more information and when you’re ready, sign up here: https://ciderr.com/pricing

 

p.s. For the month of April anybody who signs-up for an annual plan will get a $50 Amazon gift card.

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