While a wedding can be one of the most important days in a couple’s life, there’s no doubt it’s also one of the most expensive. The average cost of a wedding last year was about $30,000, and according to a new poll, 86% of Americans feel that’s just too much money.
Of course, those expenses start way before the planning for the “I Dos” begin, with lots of money shelled out for an engagement ring. While 28% of folks believe one-month’s take-home pay is a reasonable amount to spend on a ring, others are happy to save money any way they can. Believe it or not, 55% of men say they’d be willing to purchase a used ring if it cost 50% less than the same ring at a retail store. And what’s even more shocking is that most women aren’t actually against it, with 74% saying they would gladly accept a used ring.
As for the wedding itself, the tradition of the bride’s family picking up the tab seems to be the thing of the past. In fact, 51% of Americans think it should be a joint effort between the couple and the parents, with only 11% thinking the expense falls squarely on the bride’s side. And on a positive note, most people realize it isn’t smart to throw a wedding that costs more than they can afford, with 77% of Americans saying going into debt for the big day is unacceptable.
Source: Country Financial Services