The $26,000
Wedding Myth
Magazines & internet articles are constantly giving out
this vague static that the average wedding in the US costs around $26,000. Even
more shocking is this number generally doesn't include the cost of the wedding
rings or the cost of the honeymoon.
However, much to the entire wedding industries dismay but to the cheer
and relief of brides everywhere, I would argue this number in no way represents
what the "average" bride is spending. I'll explain why, what the real numbers are as
well and how it can affect you.
To be clear, the wedding industry isn't lying or misleading
anyone. It's simply being overly technical and lacking common sense. You see, according to The Wedding Report, a leader in
wedding data and statics, approximately 66% of all brides spend less than
$20,000 on their wedding. Common senses tells you that since the
majority are spending less the $20,000 on their wedding then there is no way
that the average cost of wedding is $26,000.
So, how do they get that $26,000 number? It's caused by the inclusion of top wedding
spenders. Only 16% of all weddings cost $30,000 or more, but when you add in
these high-end events it raises the general mathematical averages for everyone.
According to the Wedding Report, the percentage breakdown of spending is as
follows:
38% spend less than $10,000 on their wedding
28% spend $10,000 - $19,999 on their wedding
This means 66% of
couples spend less than $20,000 on their wedding. That's well over half and clearly what common
sense would tell is us is normal.
18% Spend $20,000 -
$29,999 on their wedding which means that only about 18% of couples fall into
the claimed "average" spending bracket of $26,000.
9% spend $30,000 - $49,000 on their wedding
4% spend $50,000 - $99,999 on their wedding
3% spend $100,000 or more on their wedding
When you do the math adding in all weddings from highest to
lowest, you get a number that makes you think that the 'average" bride is
spending a lot more than she really is. Again, mathematically, the $26,000
number is correct but common sense tells us that it's not exactly true either.
What can you do with this information? Well, if you are a
wedding business, you can start by realizing your clients true budget and
spending habits. If you are bride, you can stop feeling bad, guilty or as
though you are somehow not normal for not spending $30,000 on your wedding.
Clearly the people who aren't normal are those who are spending $26,00 or more
on their wedding.
Author: Dawn Nash, First Lady of Romance
http://www.TheRomanceSpecialists.com
