Money Matters
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Interesting article...

Re: Interesting article...

  • H had this issue pegged when we started planning our wedding. I came to him one night saying I felt like we had nothing compared to some others on The Knot, The average The Knot displayed seemed unfair because they must be polling people with more to spend by default. H then mentioned how averages can be incredibly skewed when it comes to finances. Something related to NHL average salaries v.s. median salaries was his reference point.

    Hopefully other brides read this article and can see how much more realistic the median is.

    Anniversary
    Love: March 2010   Marriage: July 2013   Debt Free: October 2014   TTC: May 2015
  • Oy! This is the reason we had a small wedding....

  • I didn't fully read the article, but one of the things that drove me crazy about TK was the complete disregard for regional differences. $30,000 may not be luxury in New Jersey or California but I can promise you in my small Kansas hometown it is.
    HeartlandHustle | Personal Finance and Betterment Blog  
  • So regional! We had around 225 guests (we have big families) and we paid for about 75% of our wedding and didn't go broke or create credit card debt.
    Lilypie Kids Birthday tickers Lilypie Kids Birthday tickers
  • I never believed those numbers....they're so misleading.  I always thought there were some real high end weddings throwing off the figures.

    I don't believe any of the weddings I've been to cost the "average" (though I'm not absolutely certain),,,,,nor did my wedding cost the "average".  Still managed to have a lovely wedding with a little over 100 people.....wonderful cocktail hour with live music, open bar, beautiful flowers, good food, etc.  And I live in NJ, where everything is generally more expensive. 
  • We spent $12,000 on our wedding and that included everything but the rehearsal dinner and the honeymoon.  We had 80 guests for the event and had a cocktail hour, plated lunch, open bar, cake and a s'mores bar.  We even found a videographer that fit our budget.

    It is totally doable if you spend your money on what is important to you (the couple) and not what is important to other people.  As long as you properly host it doesn't matter about the custom cocktail napkins and chair covers.
    Formerly AprilH81
    photo composite_14153800476219jpg

  • With the divorce rate being so high in our nation, maybe people should spend their money on pre-marital counseling rather than the wedding itself.
  • With the divorce rate being so high in our nation, maybe people should spend their money on pre-marital counseling rather than the wedding itself.

    What's funny is that apparently the divorce rate numbers are completely overstated too. Article for reference: http://psychcentral.com/lib/the-myth-of-the-high-rate-of-divorce/00011473

    But I agree, pre-marital counseling was so helpful for us during engagement.
  • With the divorce rate being so high in our nation, maybe people should spend their money on pre-marital counseling rather than the wedding itself.

    true that!  When DH and I got married we did some marital sessions with our minister and it was great.  It gave me a peace of mind to know we agreed on so many things.
    Baby Birthday Ticker Ticker
  • Interesting article! I thought that average seemed high. I'm in a relatively HCOL area compared to most of the country (minus NYC and CA) and most people who have "standard" weddings spend much closer to the median.
  • JoanE2012 said:

    I never believed those numbers....they're so misleading.  I always thought there were some real high end weddings throwing off the figures.


    I don't believe any of the weddings I've been to cost the "average" (though I'm not absolutely certain),,,,,nor did my wedding cost the "average".  Still managed to have a lovely wedding with a little over 100 people.....wonderful cocktail hour with live music, open bar, beautiful flowers, good food, etc.  And I live in NJ, where everything is generally more expensive. 




    Exactly this, even the NJ part.  =)  Where in NJ are you?  I am in Northern NJ

  • "There are three kinds of lies: lies, damned lies and statistics." - Mark Twain
  • I really hate when people use statistics without giving the actual questions asked so that we have the background information to make a more sound judgement.  I am glad that the Slate did research to help people see the truth behind the numbers.
  • Going to The Knot, you can really see where the wedding industry has just INGRAINED itself into people's minds really starting in childhood.  So many brides have attitudes of it "HAS to be this WAY" and it "HAS to be that way".  "It just DOES."  "Because, because...that's how it IS".

    And I'm not necessarily badmouthing them...I was a bit the same way until I saw the light...I just think its such a shame that so many women/men appear to feel the need to live up to this "vision" of inviting every single relative and 200 of their closest friends, destination bachelor/ette parties, $1,000 cakes, $5,000 dresses. 

    And, hey, I'm not saying any of those choices are bad if they are what a couple wants, it comfortably fits into their budget, AND comfortably fits into their friends' budgets (for ie parties, attire).  But so much of the stuff people stress over with weddings is NOT necessary.  There are so many great ways to cut costs and still have a beautiful, fantastic day that your guests enjoy.

    Sure, I would have liked to have waltzed down the aisle in a $25K Vera Wang original and then partied the night away at my $200K reception at the Waldorf Astoria.  But can I think of a 1,000 other ways I would rather spend that money?  Heck yeah.  But the same concept goes for even something more scaled down.

    My budget was $5,000 period.  I just wasn't going to spend any more money than that on one day.  Not including the dress, travel expenses (got married out of state), or the honeymoon.  My budget for my dress was $600, including alterations.

    In actuality, my mom paid for most of the reception.  But I'm sure it was still under $5,000.  Small wedding, just close friends and family, 35 people.  One wedding cake and one groom's cake...under $100 total.

    Now I have to brag about one of my all time best MM moments.  I got my dream dress for $200 plus $100 to have it pressed by a dry cleaner.  I ordered it from Hong Kong, sent in my measurements, though I assumed I would still have to have it altered locally.  Nope.  It was gorgeous and fit me perfectly right out of the box.

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