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Millennials are a different breed of brides and grooms. They’re getting married later in life, giving themselves time to become better educated and more successful before tying the knot, especially compared to earlier generations. With this change in demographic comes a change in wedding preferences and traditions, leaving mothers of the brides everywhere clutching their pearls with worry.
Many brides (and grooms) feel the pressure to please their parents on their big day. With many millennials financing their own weddings it's become more important than ever to create an experience for yourselves. It’s worth considering something more intimate that you’ll both actually enjoy.
He’s finally popped the question, and now you’re officially engaged. Like, ring selfie on your Insta official. You were ready for him to ask. (I mean, honestly you’ve been checking out rings for the past two years and talking about what you’ll name your kids). What you weren’t ready for was the million questions that come once you go public with your new status.
And your mother hasn’t even started with her questions (and maybe demands) yet. It’s enough to make any bride-to-be want to run for the hills. Before you have a total meltdown, take a breath, pour a glass of wine, and sit down for a conversation with your fiancé - yes, he’s your fiancé now!
It’s the part of wedding planning that no one really wants to address, but it’s probably the most important. Who is going to pay for your wedding? Chances are, if you’re like most of your peers, you’ve at least started a discussion about wedding planning before you were engaged.
So many young people are financing their own weddings today that it begs the question of how you’re going to foot the bill. Even if you’ve established a career and are doing well financially, it doesn’t change the fact that the average cost of a wedding in 2019 (pre-pandemic) was $33,900.
To put that number into perspective, it’s almost enough to put a 15% down payment on an average-priced home during the month of August.
So, before you begin planning the big day it’s important to make sure that you and your hubby-to-be are on the same page with where the money is going to come from and where it’s going to go.
If you’ve never talked about finances before, now is a great time to start. There are so many things that you probably don’t know about each other that you can discover just by talking about money habits and spending.
Unfortunately, many millennials are taking on significant debt to pay for their weddings. This is another discussion that you and your partner must have. Debt is a financial issue that can cause a lot of problems for couples, so it’s important to understand each other’s attitudes about credit.
More young couples than ever are concerned about student loans and other debt that they’re bringing into the marriage. Adding to existing debt to pay for a big wedding is no way to start your new life together.
Even if financing the wedding isn’t an issue, there are other reasons that you might want to not have 400 of your parents’ closest friends at your wedding. The biggest reason being that it's your day! And, let’s not forget about the groom. It’s his day, too!
Really, the honeymoon is the reason we all want to get married, right? Picture it: you’re laying on a remote beach somewhere with your husband, someone bringing drinks to your beach chair, no work calls or emails, just you and him spending every day and night soaking up every moment together.
Alright, daydream time is over. But, really, every dollar that you spend putting on a big production of a wedding is a dollar that you won’t have to spend on your honeymoon.
This is a lesson that I learned from experience. When I got married (the second time), we had a small ceremony and dinner with just about 10 of our closest friends and family. No DJ or dancing, just time spent with those most important to us. It was AMAZING. Then, we went on an incredible honeymoon to Costa Rica that we wouldn’t have been able to afford if we spent thousands and thousands of dollars on the wedding.
If you opt out of the big, traditional wedding, you’re going to have to break the news to your friends and family. There might be some disappointed responses, but don’t let that deter you.
If you and your soon-to-be spouse have big families, this is going to be even more difficult because it means that some people are going to feel left out. Keep these things in mind when telling your family that you’re not going to have the wedding they always dreamed of.
No matter the size, venue, or cost, your wedding is an important day for you and your spouse. Wedding planning is very much tied to financial planning for your future, so it’s important to get on the same page from the start. As long as you make decisions that work best for both of you and make you both happy, you’ll be starting off on the right foot for the future. The best thing to do to prepare for your big day planning is to start talking about financial matters early, so that your goals and expectations are in line with one another.
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