Provident survey: Where couples are cutting wedding costs

A recent survey by Pollfish, a market research provider, on behalf of Provident Bank, found that a whopping 85% of more than 1,000 respondents said wedding expenses will impact their overall financial well-being.

That’s why nearly three in four couples said they will spend less than $50,000 on their wedding.

But how?

Here’s where they will cut costs (note more than one method could be selected):

  • 49%: Eliminating formal dinner;
  • 40%: Cutting out wedding favors;
  • 40%: Downsizing their guest list;
  • 40%: Opting for cost-saving wedding attire;
  • 34%: Getting married on a weekday, Sunday or off-peak time;
  • 34%: Opting out of bridal party gifts;
  • 33%: Opting out of a honeymoon;
  • 31%: Opting out of printed invitations.

Then, there’s this: Nearly one in five said they would attempt to cover costs through crowd-funding.