You can toss your traditional notions of weddings out with the bouquet. Marriage is coming later in life for most Americans — but with a debt-inducing price tag. Receptions are cakeless and friends of the bride and groom are spending thousands of dollars to be in the ceremony. Read The Washington Post’s wedding issue that dives into the financial burden of marital bliss.
First comes love, then comes marriage, then comes paying off the wedding loan.
“You could spend $30,000 on a one-day celebration, or you could use it to put a down payment on a house. These loans sound great when you’re planning your wedding, but afterward, I hear a lot of regret.”
Wedding cakes are being replaced with doughnut displays and pie buffets.
“We paid $13 per pie and had 16 pies for a 100-person wedding. This came to $208 total and assuming eight slices per pie, this was only $1.63 per slice, so it came in cheaper than a cake.”
Being part of a wedding can be just as much of a financial burden as hosting one. Here’s how columnist Michelle Singletary says you can save your money and friendship with the bride and groom.
“Can you put a price on friendship? Yes, you can if it means racking up credit card debt that will take you months, if not years, to pay off.”
A single wedding registry can bring in tens of thousands of dollars in sales, and companies are banking on couples stepping outside the norm for their gifts.
“The trends really reflect the demographic of people who are getting married today, which is millennials. Couples are living together beforehand, they’re older and have more refined taste.”
Will online dating disrupt American dating trends? Couples are meeting later, dating longer and living together, well before marriage.
While your grandparents or colleagues are likely to have your best interests at heart, it’s in these companies’ interests to keep you swiping longer, a fact some apps even broadcast.