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.
Read more from ROI-NJ:
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.