There is some rare good news in a tumultuous 2020, with the cost of weddings on the decline.
While travel and gatherings restrictions have stood in the way of the classic nuptial ceremony and reception, saving a few bucks may have some appeal for the bride and groom.
According to the 2020 Brides American Wedding Study, while many couples initially budgeted $33,345 for their wedding, Brides found that the average spend was just $28,964. However, some couples have been spending way more than that, especially those in the Northeast at an average of $31,937.
There’s more from the study:
--- One place couples are likely to cut dollars on is the honeymoon due to limited travel restrictions, yet Brides found it to be one of the most expensive parts of the wedding at an average of $4,481.
--- 62% of couples are now starting to budget far in advance of a wedding, with many saving pre-engagement.
--- 1 in 5 couples cited financial security and benefits, such as tax and insurance advantages, as a factor in their decision to get married.
--- 81% of respondents said the pandemic has changed their expectations for their wedding, and four in five couples (82%) said that living through the pandemic has made them want to marry their significant other more.
--- Two in three couples (66%) had to postpone their wedding due to COVID-19, yet 36% still decided to have a wedding during the pandemic
--- While nearly half (47%) of couples are planning to downsize their guest list, 1 in 4 (26%) couples plan to spend more on a wedding after the pandemic, and 23% are still planning to host a destination wedding
The survey, which tracked the spending habits of 1,400 U.S. newlyweds, shows that couples are getting creative about their weddings during COVID-19 – and they’re not letting the pandemic and resulting government locks down stop them from tying the knot.
"Couples have pivoted their planning—and gotten creative with micro-weddings and virtual ceremonies—to celebrate with their families in a safe way," says Roberta Correia, editorial director at Brides. "If anything, the pandemic has made weddings, and particularly partnerships, more meaningful."
If you’re getting married in 2020 or 201 – or are thinking about it – the study is worth further review. Check it out here.