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July 13, 2021 2 min read

A wedding is a sizable expense, so much so that 74% of couples use credit to fund their “I do’s.” But is it worth it to start your new life in debt just to have a long train or host your reception at a hot new venue?

How much you should spend on your wedding is a highly personal choice, but consider these factors before signing those loan documents.

1. Consider Your Other Wants and Needs

Your wedding is your big day — but it is only 24 hours, some of which you’ll be asleep. If your budget is a concern, remember your high school economic lessons on opportunity cost. Taking out debt to fund your affair now means less to spend on other things you want in the future.

Instead of paying back interest, you could accumulate it with the right investments. Even things that bring you pleasure and decorate your home, like fine art, can appreciate in value — a one-time event will not.

For example, if you must decide between a downpayment on a house and a big rock on your third finger, you might want to go the sensible route. Rent prices continue to rise faster than inflation and wages, and struggling to keep a roof over your head is enough to strain any marriage.

2. Think Twice About Taking on Debt

dollar bills

Many people don’t realize how toxic debt can be to their lives. You could end up paying back thousands more than you originally borrowed. That’s money you won’t have to put toward buying a home or saving for your child’s college education. Plus, the burden could strain your new union.

According to financial expert Dave Ramsay, money fights are the second-leading cause of divorce, right after infidelity. The events of the past months taught many people how quickly life can turn on a dime. Think carefully before taking on wedding day debt. You never know when your financial picture may unexpectedly change due to an accident — or a pandemic.

3. Remember, Memorable Doesn’t Mean Pricey

The simple truth is that you don’t need to spend much at all to put on a memorable wedding. You can host a stellar affair in your backyard or even a local park on the cheap. DIY your decorations and patronize your local dollar store — they have no end of florals and craft items for just a buck.

Remember, too, the old saying about something borrowed. Why spend thousands on a gown when your mom’s or best friend’s hand-me-down will fit you perfectly? It’s a shame for the world to see its beauty only once, after all.

How Much Should You Spend on Your Wedding? It’s a Personal Choice

Ultimately, how much you spend on your wedding is a personal choice. However, the decisions you make about funding your big day will have a lasting impact on your new marriage.