Social Media and The Search for The ‘Perfect Wedding’

Social Media and The Search for The ‘Perfect Wedding’

Social Media is putting pressure on couples to have the ‘perfect wedding.’ Pinterest can overwhelm a bride with all the option to include in your BIG day.

Pinterest board grid displaying wedding venue and attire images

The Pressure of Social Media.

In addition to the standard bachelor/bachelorette party, & rehearsal dinner are websites to share the couple’s love story, photo booths, food trucks and lawn games. The venue is the largest cost followed by videographers and DJ’s at the wedding reception.

The focus has been on creating an unforgettable day for the wedding guests; generating that WOW factor. It is a competition to see how many Instagram pictures are posted during the wedding reception.

What Is The Real ‘Cost’ of The Wedding?

The average cost of a wedding in 2016 was at an all-time high of $35,000. 1 in 8 weddings were over $40,000.

Sociologist Dr. Pepper Schwartz says “The whole thing has gotten out of hand. The wedding has become the highlight rather than the beginning of something.”

Kim Horn a wedding planner with 3 decades of experience agrees. “The focus is NOT on the relationship and the long-term commitment.”

IBISW research firm observed the wedding industry generates $55 Billion a year. Their research shows advertising sends the message that large amounts spent on an engagement ring and wedding is an indication of commitment. If you spend more, your marriage will be successful.

Reality is just the opposite. The more you spend, the more likely your marriage will end in divorce.

Bar chart showing relationship between wedding costs and divorce rates

Two economic professors, Andrew Francis and Hugo Mialon, at Emory University did a study. 3000 couples were included in the study. The couples were married just once and were across all income levels. Their findings – The more you spend on the Big Day – the shorter the marriage.

Spending more than $20,000.00 ups the odds of divorce 3-5 times compared to couples spending between $5,000 – $10,000.  The odds of staying married were even better if the festivities were under $1,000.

Improving Marriage Longevity.

Francis & Mialon study showed other factors improving the longevity of the marriage are:

  • Relatively high household income (not surprising since finance is in the top 5 reasons for divorce.)
  • Regular attendance at religious services (couples who pray together stay together.)
  • Having a child with one’s partner.
  • Having a honeymoon regardless of the cost. (Keep that date night going.)

The number of guests in attendance also reflected on the marriage longevity. Having more than 100 guests in attendance, is a big boost to the marriage longevity. This seems contrary to the findings for low cost weddings. The more in attendance, the higher the costs. However, the sense of community and support for the couple more than offsets the cost factor in longevity for a couple’s marriage.

Happily ever after sign with red arrows on tree bark

Conclusion – Celebrate the couple, celebrate the commitment. Don’t go into debt for a wedding.

 

Another article to consider:

Wedding Gift Etiquette

 Do’s and Don’t’s of Bailing Out Adult Children

 

 

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Disclaimer

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Boise Retirement Coach and Cambridge are not affiliated.


Material discussed is meant for general illustration and/or informational purposes only, and it is not to be construed as investment, tax, or legal advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Please consult with your financial advisor prior to making any investment decisions.

 

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