Big vs. Small Wedding: What Does a Wedding Really Cost?

A wedding is one day. How you pay for it can follow you for years.

Let's compare two couples who start with the same choice and see where they are 10 years later.

Meet Jennifer: she goes big

• Grand venue, fancy décor and a big guest list
• "It's once in a lifetime, why not?"
• A $50,000 wedding, paid for with a loan at 8%

Meet Kelly: she keeps it small

• Close family and friends only
• A $5,000 wedding, paid in cash
• Invests the $45,000 she saved

10 years later

Jennifer has paid about $73,000 for one day: about $607 a month for 10 years on the loan.

Kelly has about $90,000 invested: her $45,000, grown at 7% a year, roughly the market's long-run average after inflation.

That's a $163,000 swing from the same starting point. Both have great memories. Only one has a growing account.

There's a middle ground

You don't have to choose between a dream day and your future.

Plan a $15,000 wedding paid in cash, and spend on the two or three things you care about most. Invest the other $35,000 and it could grow to about $70,000 in 10 years.

The real problem isn't a big wedding. It's a wedding on credit.

Say yes to a plan

1. Set your number before you start planning. Decide together what you'll spend.
2. Pay cash, not loans or credit cards.
3. Spend on what matters most to you two, and skip the rest.
4. Invest whatever you don't spend.

The takeaway

The best wedding is the one you can still smile about when the bills come.

Want a simple place to start? Grab our free zero-based budget template, and follow @press4please for more simple money lessons.

Hypothetical example assuming an 8% loan over 10 years and a 7% annual investment return. Returns are not guaranteed. This article is for general information only and isn't financial advice.