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Photo courtesy of Jenna Noelle Photography

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elebrating a wedding is an exciting time for couples and their families; however, anticipating and planning for the momentous occasion can also lead to significant bills. In 2015, the national average cost of a wedding was just under $30,000, which, according to the latest COUNTRY Financial Security Index, a vast majority of Americans (86 percent) feel is too much to spend. The price of a proposal Even before the planning and festivities begin, purchasing an engagement ring can prove to be a major expense. Engagement rings span price points, but Americans don’t think the diamond should break the bank. Many are willing to put savings before superstition when it comes to the ring. In general, 28 percent of respondents think one month’s take-home pay is a reasonable amount to spend on a ring, and just four percent think

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spending more than three month’s take-home pay is acceptable. Covering costs of the celebration Despite traditional etiquette, Americans feel bearing the burden of wedding costs should be a joint effort. When it comes to paying the bills for nuptials, 51 percent of Americans think both the couple and their parents should pay for a wedding – compared to just 11 percent who believe the bride’s family should mostly foot the bill. suburban family | subfam.com

With wedding costs adding up quickly, going into debt can be a serious concern for those planning a wedding. But a dream wedding isn’t an excuse to rack up debt. In fact, nearly six in 10 Americans (59 percent) think it is totally unacceptable for a couple to go into debt for nuptial sake. “Start saving as soon as you know a wedding is in the future,” says Troy Frerichs, director of wealth management at COUNTRY Financial®. “Establishing a wedding fund will allow January/February 2017

Suburban Family ~ Jan + Feb 2016  

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