Weddings are a major financial milestone for many couples. In the United States, the average cost of a wedding has been estimated to be around $30,000. While some couples feel the need to spend a lot of money on their special day, the financial consequences of these decisions can be significant.  Research has suggested that couples who choose to spend a lot of money on their weddings are more likely to experience financial stress in the years following the event. In addition to the financial burden, couples who spend a lot of money on their weddings may be less likely to invest in their future financial security, such as retirement funds or college savings plans.  

The desire to have an extravagant wedding can also be driven by societal pressures. Many couples feel that they need to have the “perfect” wedding in order to show off their success and prove their worth to family and friends. This can lead to couples spending more money than they can afford in order to impress their guests.  However, couples should be aware of the financial consequences of spending too much on their wedding. It is important to remember that the wedding day is just one day, and that the money spent on the event could be used to invest in the couple’s future. Couples should consider their long-term financial goals before making any major wedding-related decisions.  

It is also important to remember that there are plenty of ways to have a beautiful wedding without breaking the bank. Couples can save money by having a smaller guest list, opting for a less expensive venue, and choosing to DIY some of the decorations and other details.  If you want to learn more about financial planning, please visit BoyceWatkins.com. It is important to be aware of the potential financial consequences of spending too much on a wedding, and to make sure that you are making smart financial decisions for your future.