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Paula Pant

How Much Money Should You Spend on a Wedding?

By February 24, 2013

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How much money should you spend on a wedding? There's no right answer. I can't give you a hard number and say, "This is the amount."

You have to decide the best amount, based on your current financial position. That means taking a good, hard look at big-ticket expenses you may want in the future: saving up for a down payment on a home, the costs of starting a family, your desire to pay off any existing debts, and the need to save for retirement.

Sit down and make a list of all of your priorities. This isn't a list of your current bills; this is a list of your dreams for the future. Do you want to buy a home? Do you want to start a family? Do you want to be a stay-at-home parent? How soon do you want to do all of these? All of these cost money.

Now, where does a wedding fit into that priority list? Remember, there's a difference between a wedding and marriage.

If you decide a wedding has a high placement on your priority list, go ahead and spend lavishly on it. But if you decide other future expenses are more important, well, you have your answer.

Read more about this question in this article: How much should you spend on a wedding?

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