Marriage, Money and Misery (but only from the father of the bride!)
I stopped to fill up my fuel tank on the way to work this week and had a quick chat to Pete, the guy who owns the local servo (not his real name). He’s a friendly guy who understands good old fashioned service and gives my kids a lollipop every time they visit. It’s like crystal meth for four year olds – I am simply not allowed to buy petrol anywhere else. This morning we chatted while he pumped the fuel but he wasn’t in his usual rude good humour. Skipping quickly past the weather, I asked him what had been going on for him during the week – he scratched his chin and told me his daughter was getting married. “That’s great – congratulations!” I said. Pete just stared at me before replying in a monotone “Yeah, it’s just absolutely fabulous Deano, the wedding reception is on fricken Day Dream Island!”. In an effort to cheer him up I told him a fascinating little anecdote about someone I knew who’d once told me once his daughter’s wedding cost $40,000 “…that he knew about…”. Pete just glared at me and started scrubbing savagely at a lump of bird crap on my windscreen….but he did get me pondering just how much a wedding costs these days.
According to Ibisworld market research, the average Australian wedding costs $36,200, which seems to me like a hell of a lot of beer and sugared almonds! Taking into account the ceremony, reception, dresses, suits, car hire, flowers and rings it’s a $4billion per year Australian industry catered to by 10,427 businesses employing 54,356 people 1. Not to mention the bucks and hens weekends which all add up…
While weddings can be great occasions for everyone involved, the fact that they only last one day means that the enjoyment from this large sunk cost is relatively fleeting. Therefore, given the other uses this money could be put to, if you’re taking the plunge and making the big commitment, we thought we’d offer a few tips on making your money go as far as possible:
-Avoid going into debt to fund your wedding at all costs, it doesn’t make economic sense to spend months or years paying off an event that could put years of debt stress on you and your family – regardless of how special that day is.
-Prioritise – you may not be able to afford to have everything just the way you’d like it, so decide which parts are important to you – for example, the enjoyment of wearing a Lacroix gown or flying in a 40-member choir from Wales might be marred if you’re going to spend the entire reception worried sick the drinks tab will run out early.
-Set a realistic budget and stick to it, edit your guest list, choose potted flowers that double as favours, consider a pre-owned wedding dress and remember that you don’t have to have your five cousins in the wedding party unless you want to.
-Accept help from friends and family and utilise their talents – many families have a great Auntie who can turn out a shop quality wedding dress from a picture for next to nothing, friends who play musical instruments, or a cousin who has mates with access to suitable wedding cars for the price of a carton of beer.
-Plan carefully, then sit back and enjoy the day with family and friends.
Talking with Pete also got me reminiscing about the time my own beloved father in law, a man with four daughters and no sons, offered me five grand in cash to skip the wedding and elope…
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By Dean Johnson
1 http://www.ibisworld.com.au/industry/default.aspx?indid=1955
