I just read two articles on the interesting site Easy Finance; one on wedding costs and one on future college costs for kids. They really made me think about how we could spend less on our weddings and be a frugal bride!
After looking at the average wedding price tag of $26,984 (see infographic below), and then seeing the current yearly costs of college tuition ranging from $17,131 to $38,589, I couldn’t help but wonder “Why are people spending so much on weddings when that money could put to better use, like saving for a down payment on a house, college for their future children, or retirement?”
Sure, it’s not as much fun to put money into the bank as it is to spend it on a fancy reception or wedding ring. But with the rapidly rising costs of everything nowadays, from medical expenses to home repairs to college tuition, is it really necessary to spend so much on one day of your life? Is it the cost, or the people and celebration itself that makes it memorable?
Confessions of a Frugal Bride
We had a great wedding and it cost under $4000. Though honestly, I think it was still too much (we split the cost with my parents). For me, getting married wasn’t about the wedding itself. It was about simply being married and looking forward to spending our lives together.
Some will think we’re nuts, but both the ceremony and reception were held in my church. (Yes, that meant no alcohol. My husband and I wanted it that way, but because we left for our honeymoon in Mackinaw City, Michigan immediately after the reception, we were fine with people celebrating with alcohol on their own afterward.) My husband’s talented aunt did our flowers as a gift, my best friend and maid of honor sang at our ceremony, and my family and church friends did the entertainment at the reception themselves.
How did a Frugal Bride Spend Less on her Wedding?
My dress cost about $400 (I loved it), and my wedding ring? Are you ready for a shocker? It was about $50. I have never liked wearing jewelry, and all I wanted was a simple gold band, which is what my husband and I bought for each other. I have always told my husband, “Don’t ever buy me expensive jewelry! If you’re going to spend hundreds of dollars on me, take me on a fantastic trip or buy me books instead!” Seriously. Plus, I’m a klutz. I’d probably lose a fancy ring down the drain or something.
Now, if you like fancy, lavish weddings and want one (or had one) for yourself, I think that’s great. Everyone should have what they want, if they can afford it. But I think having an expensive wedding for the sake of having an expensive wedding is not being money-wise. I know from being married for 9 years now that there will be MANY expenses, some predictable and some not…buying a house, maintaining that house, buying, fixing and replacing vehicles, insurance premiums galore, starting retirement savings, paying off college loan debt, and then…having kids. Kids are a blessing but they do cost money, especially if you think about saving for their college education. If you can be happy with a cheaper wedding in order to save more for your future, I say, DO IT! We did, and we’re glad we did.
Here is the infographic about wedding costs. To read about saving for college for your kids, here’s the link.
Source: EasyFinance.com
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