Bad Financial Decision #37, Expensive Wedding

[NuBas]

Keep in mind that the cost of a lot of these weddings is often recouped from parents and guests at the wedding. I will bet that people from certain cultures (where cash is often given as a wedding gift) can actually MAKE money from their wedding. The folks foot the bill for the wedding, then any cash gifts is just profit.

Those are the smart ones

 

[Nadalgaenger]

Newly married couples in the U.S. like to spend about $30k on their wedding. (They also think that Mom and Dad should foot the bill). $30k spent in simply one day! Invested @ 6% that would be about a quarter million when they retire. But all these Americans are complaining about how they'll "have to" retire without savings.

Or that $30k could be used for the down payment on a house and get them out of renting, and starting to build equity. "Well, Eddy, if that's what they want to do, it's none of your business." If only that were true. All year during the presidential campaign I hear people complaining about money, that they don't have any, and they want someone else, the government, taxpayers, etc. to give it to them. So it is my business. One of the first bits of advice I have is don't have an expensive wedding. I got married with an inexpensive ceremony 30 years ago. You don't need an expensive wedding to have a good marriage. Complete waste.

Excellent advice. Even better advice is postpone marriage and kids if you are a guy. Travel the world and enjoy variety

 

[Nostradamus]

expensive or not, food has to be good. if food is bad, it is bad luck for the bride

 

[fireandwind]

Newly married couples in the U.S. like to spend about $30k on their wedding. (They also think that Mom and Dad should foot the bill). $30k spent in simply one day! Invested @ 6% that would be about a quarter million when they retire. But all these Americans are complaining about how they'll "have to" retire without savings.

Or that $30k could be used for the down payment on a house and get them out of renting, and starting to build equity. "Well, Eddy, if that's what they want to do, it's none of your business." If only that were true. All year during the presidential campaign I hear people complaining about money, that they don't have any, and they want someone else, the government, taxpayers, etc. to give it to them. So it is my business. One of the first bits of advice I have is don't have an expensive wedding. I got married with an inexpensive ceremony 30 years ago. You don't need an expensive wedding to have a good marriage. Complete waste.

Newly married couples in the U.S. like to spend about $30k on their wedding. (They also think that Mom and Dad should foot the bill). $30k spent in simply one day! Invested @ 6% that would be about a quarter million when they retire. But all these Americans are complaining about how they'll "have to" retire without savings.

Or that $30k could be used for the down payment on a house and get them out of renting, and starting to build equity. "Well, Eddy, if that's what they want to do, it's none of your business." If only that were true. All year during the presidential campaign I hear people complaining about money, that they don't have any, and they want someone else, the government, taxpayers, etc. to give it to them. So it is my business. One of the first bits of advice I have is don't have an expensive wedding. I got married with an inexpensive ceremony 30 years ago. You don't need an expensive wedding to have a good marriage. Complete waste.

I totally agree with you. My co-worker just married about a month ago in the city hall. Total cost was less than $200 including marriage license. She invited a few of coworkers. I am not sure if there was actually any reception. I didn't dare ask her about it

 

[TimeToPlaySets]

The median spent is more like $15k. And most couples make a HUGE PROFIT from their wedding. BEST FINANCIAL MOVE EVER.