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USA today and Brides Magazine say that the average couple is spending $26,989 for their wedding.

wedding budgetChildhood fantasies, Pinterest and celebrity wedding hype is being blamed for brides that decide to go over their wedding budgets. Pinterest has become a renowned source of “wish list” items for wedding preparation. From ideas for flowers, dresses, party favors to table settings and food option, these ideas surround this social media site. Furthermore,TheKnot.com and WeddingChannel.com are constantly streaming wedding ideas and images 24/7. It’s just the kind of temptation a girl thinking about getting married dabbles in.  But, are these media outlets to blame for the price tag of today’s average wedding?

According to Anne Fulenwider, editor in chief of Brides and Brides.com, “There is no need to go into debt. You can have a lovely, unique, personal wedding at any price point.” But, that is easier said than done. Many grandfathers are helping with the costs of wedding these days and are forced to dip into their nest egg to do so. And fathers, too, are taking on overtime hours to pay for wedding expenses.  TheKnot’s research finds that more than 75% of couples are either paying for the wedding or contributing — along with their parents, grandparents and extended family.

A May 2012 survey of 1,272 Brides magazine and website readers found:

  • 72% of couples used nest egg dollars to pay for their weddings
  • 30% use credit cards, and most expect to pay off credit cards within six months of their wedding
  • 54% of couples said paying for a wedding would not hamper their plans for “buying a house or a car, starting a family, etc

Is it really worth it to blow the wedding budget?

Yes, the emotions surrounding a wedding defy the logic of cents and dollars. But, those costs are felt long after the nuptials are completed. Rather than being casual with your wedding planning, be extra careful to stick to the budget, be thrifty in most areas and make decisions based on reason rather than emotion. It will keep more dollars in your pocket for future decisions involving buying a house or starting a family.

Strategic planning is key to planning a better future. Keep your money safe by having an advocate who can help you determine the best way to safeguard your nest egg. My consultation is always free. Call 1-866-471-7233

Source: USA Today, 8/10/2012