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Wedding Loans are on the raise - I didn’t know this existed

Passepartout

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Makes one wonder, which is more expensive, the average wedding, or the average funeral.
 

WVBaker

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Oh well, as Groucho Marx once said... The husband who wants a happy marriage should learn to keep his mouth shut and his checkbook open.
 

mdurette

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You would not believe the amount of people I work with that either:
1. Have loads of credit card debt due to paying for their wedding or
2. Are parents taking out home equity loans/lines to pay for their kids wedding.

It is insane in my opinion. But, I'm also the person that ran away to get married with a dozen close family members. The big 'to-do" wasn't for me.
 

DaveNV

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Makes one wonder, which is more expensive, the average wedding, or the average funeral.

I'd say it is more likely the average divorce. ;)

Dave
 

x3 skier

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“People are carrying more debt, they want to get married but don’t have the funds to do so,” said David Green, chief product officer at Earnest, a San Francisco-based online lender.

“Everything about weddings is discretionary, aside from what you pay the county clerk.”

I subscribe to the second view.

Cheers
 

Luanne

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“People are carrying more debt, they want to get married but don’t have the funds to do so,” said David Green, chief product officer at Earnest, a San Francisco-based online lender.

“Everything about weddings is discretionary, aside from what you pay the county clerk.”

I subscribe to the second view.

Cheers
Or, my personal favorite........ The wedding is not the important thing, the marriage is.
 

CalGalTraveler

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I watch the destination wedding parties in Hawaii and I think of not only the cost to the families, but also the expectation that relatives spend money to travel and attend. Most families have members who struggle financially. This is a selfish expectation.

If a destination wedding is desired, its better to have a small wedding in Hawaii and the reception at home so as to avoid burdening friends and family.
 

klpca

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I watch the destination wedding parties in Hawaii and I think of not only the cost to the families, but also the expectation that relatives spend money to travel and attend. Most families have members who struggle financially. This is a selfish expectation.

If a destination wedding is desired, its better to have a small wedding in Hawaii and the reception at home so as to avoid burdening friends and family.
That what my daughter did. Wedding for 10 in Yosemite and a larger "party" in a local park a month later. No one had to travel or spend a fortune to help them celebrate their marriage. We've been to a few destination weddings. I don't regret attending but they can be expensive. We paid out of pocket though. There's no way I would go into debt to go to a wedding. (Anyone's wedding for that matter).
 

DaveNV

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When we got married 11 years ago, it was rather spontaneous. We flew with two close friends to San Francisco, rented a car, drove to Napa Valley, and checked into a very nice B&B for three nights. That evening we met with the Officiant at a coffee shop in Napa to go over final details of the ceremony. Next morning we four drove out to a beautiful winery up on a mountaintop, met up with my brother and his wife who'd driven over from Reno, and my spouse's sister and two nieces who had driven from the Fairfield area.

We all enjoyed a great wine tasting, then took a leisurely walk up through the grape fields to a shady Eucalyptus grove at the top of the mountain. We had a brief wedding ceremony, and then enjoyed a lovely catered lunch at picnic tables nearby. We spent the rest of that day and the next touring other wineries around Napa. We four flew home two days later. Then we held a no-gifts-please Reception for about 50 friends and family at home two weeks later. We gave everyone good bottles of wine with our names and wedding date on the label as thank you gifts for attending. All in, I think the entire event cost us less than $5K, including airfare, the rental car, food, drinks, the gifted wine, the Reception, and B&B accommodations for the four of us. It was simple, perfectly wonderful, and the ten of us at the wedding shared a really special thing.

I would definitely do it again. Pretty sure my spouse would, too. ;)

Dave
 
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elaine

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In our area, it's common to have weddings that cost $50k+. DS had a budget of about $15K for on hundred guests. They had to go to an old house used for events 2 hours outside of DC to fit into that budget.
 

Luanne

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In our area, it's common to have weddings that cost $50k+. DS had a budget of about $15K for on hundred guests. They had to go to an old house used for events 2 hours outside of DC to fit into that budget.
To me $50K seems ridiculous. When our older dd got married 4 1/2 years ago dh and I told her we could give her $10,000 towards her wedding. It ended up they got so stressed trying to plan the wedding that they ended up getting married in his parents' back yard, with a friend officiating. There were only 10 of us there, we did Chinese take out for the dinner. We ended up giving dd and sil the $10,000 as a gift.
 
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LisaH

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Just attended a wedding at the Olympic Club in SF a few weeks ago. It was a very nice event but we were all shocked to learn the amount of money spent on it. Bride’s mom contributed 250K towards the wedding and it was not enough. I told my friends about it and one of them said her uncle gave his daughter 1M for her wedding and it was all spent! Neither family is super rich ( although well to do enough) so we just thought this is the new trend. My son said this is ridiculous. He would either elope or not get married if this is the expectation. Of course not so we are all relieved :D
 

Luanne

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Just attended a wedding at the Olympic Club in SF a few weeks ago. It was a very nice event but we were all shocked to learn the amount of money spent on it. Bride’s mom contributed 250K towards the wedding and it was not enough. I told my friends about it and one of them said her uncle gave his daughter 1M for her wedding and it was all spent! Neither family is super rich ( although well to do enough) so we just thought this is the new trend. My son said this is ridiculous. He would either elope or not get married if this is the expectation. Of course not so we are all relieved :D
Maybe it helped that ever since my girls were little I whispered "Elope, elope, elope" to them. :)

My nephew was married about 8 years ago in MO. So I'm sure they didn't spend a ton. The wedding was in the church he and his wife attend, with a buffet dinner after at a restaurant. About a year or so ago I was visiting and I mentioned what we'd done with dd's wedding...as in giving them the money they didn't spend on the wedding. Nephew's wife said that her dad told her AFTER their wedding that he had set a budget and was planning to give them whatever they came in under. She said she wished she'd known, she would have cut WAY back on the wedding and reception. :cool:
 

CalGalTraveler

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LoL, this makes spending $60k on a developer timeshare sound like a steal because you will have many happy vacations. That's a lot of money to blow on an afternoon of rubber chicken dinners and obnoxious relatives.

When we cross that bridge we will likey offer a modest amount (10k?) and then offer the rest for a downpayment on a home/condo) as a wedding gift.
 
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tompalm

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That what my daughter did. Wedding for 10 in Yosemite and a larger "party" in a local park a month later. No one had to travel or spend a fortune to help them celebrate their marriage. We've been to a few destination weddings. I don't regret attending but they can be expensive. We paid out of pocket though. There's no way I would go into debt to go to a wedding. (Anyone's wedding for that matter).

That is what a friend of mine is doing. She lives in LA and would need to invite all her friends, family and husband’s friends and family to a nice wedding in LA that would cost $30,000 or more for a dinner reception with 400 people attending and that doesn’t include the venue. Hale Koa in Hawaii charges $50 per head for dinner and a free reception venue area. The wedding is an outside garden area that is free. The room she wants to use only holds 50 people, so her final cost is $2500. Her dress cost more than that. Sometime the destination wedding is a lot cheaper. Also, it is easy to say, “I would love to invite you, but we are limited to 50 people”. She is able to be more selective on who she wants to invite.
 

am1

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That is what a friend of mine is doing. She lives in LA and would need to invite all her friends, family and husband’s friends and family to a nice wedding in LA that would cost $30,000 or more for a dinner reception with 400 people attending and that doesn’t include the venue. Hale Koa in Hawaii charges $50 per head for dinner and a free reception venue area. The wedding is an outside garden area that is free. The room she wants to use only holds 50 people, so her final cost is $2500. Her dress cost more than that. Sometime the destination wedding is a lot cheaper. Also, it is easy to say, “I would love to invite you, but we are limited to 50 people”. She is able to be more selective on who she wants to invite.

If they really wanted to invite more they would have found a larger venue.
 

DaveNV

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When a favorite niece got married to her Army fiancé in 2010, because their families were scattered all around the country, they decided to hold it in Las Vegas. Anybody who wanted to attend was invited, but everyone had to pay their own way. A fair number of people came in for the weekend, and we all had a nice time. The venue was the Valley of the Falls at Mandalay Bay, a really nice spot. Lots of fun that weekend. I don't know if they ever had a Reception. The weekend together with them was a great way to celebrate. I have no idea what they spent, but they were both in the Army at the time, so didn't have a lot to spend.

Dave
 

jlp879

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... Hale Koa in Hawaii charges $50 per head for dinner and a free reception venue area. The wedding is an outside garden area that is free. The room she wants to use only holds 50 people, so her final cost is $2500.

Thanks for that tip! Lovely location and venue. Filed away for for my 20 something daughters.
 

Luanne

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When my daughter, the one who freaked out during the planning, told us she was engaged I asked if she wanted to get married in Hawaii. She said no as it would be a hardship of most of their friends to come.

Quite a few years ago one of dh's best friends got married. Both he and his bride were "older" and they were paying for everything. Instead of having a big wedding they had their wedding at the little chapel in Yosemite, with the dinner afterwards at the Ahwahnee. They paid for everyone's lodging (NOT at the Ahwahnee) for two nights, and they rented a motor home to bring everyone (or almost everyone) up.
 

missyrcrews

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I got married in 1992 for $500...and $100 of that was the fee/material for my dress. Still married. :) Honeymooned in a timeshare as a gift from parents. (Lakewood at Lake of the Ozarks) And so it began.
 
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