4 tricks to keep wedding costs low
Marriage should last forever. The cost of your wedding shouldn’t.
Wedding spending hit a new high in 2016, The Knot said in a recent report. The wedding marketplace specialists say average weddings now cost $35,329, up eight percent since 2015. Meanwhile, The Wedding Report says the average cost of a wedding rose less than 1 percent, to $26,720 in 2016.
Something everyone seems to agree on: the cost is too high.
“I think the wedding industry has monopolized into a business,” said Priscilla Figueroa, a 25-year-old Florida resident who got married earlier this year. “I feel that the wedding industry has turned into a business in a way that wasn’t 20 years ago when my parents got married.”
Part of this is because of “conspicuous consumption,” said Robert Shiller, Nobel laureate and Yale professor of economics.
“You want to do it perfectly, so there’s maybe a little bit of mysticism about it,” he said. “You want to have a wedding that, after you’re rich and famous someday, they’ll have photographs of your wedding in the history books.”
Here’s how to keep your costs in check: