Sound Precision Entertainment has previously reported on the average cost of a wedding – and it’s pretty pricey.
So it’s no wonder that, according to a survey by Novi Financial, more than a quarter of those who got married in the last 10 years say they wish they’d spent less on their wedding day.
Those who spent more money on their wedding also tended to have more regret. While only 20.9% of those who paid less than $10,000 on their wedding regretted the cost, 42.4% of couples who spent more than $30,000 on their wedding say they regret spending so much, and more than half (50.4%) who spent more than $50,000 now regret the cost.
So what do newlyweds say they could have done without? Hiring a wedding planner tops the list, with nearly half of people (48.5%) saying a wedding planner wasn’t worth it or cost too much. Similarly, 36% of people said wedding favors weren’t worth the cost.
The survey also showed that more than two-thirds (68.9%) of respondents wish they had done at least one thing to reduce the cost of their wedding. When asked what they’d do to save money if they got married again, a fifth (20.9%) of couples say they’d have a smaller guest list, while 18.3% say they’d elope and 14.7% would choose a smaller wedding party.
When it comes to how to pay for a wedding, most survey respondents said they paid through a variety of means. Most said 30% of the cost was paid from their own cash, 28% was paid for by family members, 19% was covered with debt (such as credit cards or personal loans), 15% was drawn from savings and 7% was paid through other means.
And many couples said they trimmed their spending to save money for their wedding (57.2%). 31.7% cut back on eating out and 25.5% trimmed vacation spending.
To learn more about couples’ wedding expense regrets, view the entire survey here.
One wedding expense you won’t regret is hiring SPE to fulfill your Cleveland wedding entertainment needs. We offer a fantastic bundle deal where you can save up to $1,200 with our four brands: Sound Precision Entertainment; Cuff Link Photography; Red Frame Videography; and Monocle Photo Booth. For more information, contact SPE at (216) 870-4513 or firstname.lastname@example.org.