Why Are Weddings So Expensive?
by John Lawrence, April 27, 2019
Weddings these days can run into the hundreds of thousands of dollars. It seems like a lot of money to pay for something that has a certain statistical percentage of ending in divorce. As an Uber driver I pick up people all the time that are in town for a wedding. They come from all over the world just to attend a wedding. I'm beginning to think that weddings have replaced the coming out parties and debutante balls of the wealthy as THE social event of the middle class. I picked up one woman who was one of 200 guests attending a wedding. I've heard of weddings consisting of 500 guests. All I can think of is a lot of money is being spent that could be better spent - like paying off the student loan debts of the about to be married couple or putting a down payment on a house.
When I think that my mother and father were married at my mother's home with just a few guests in attendance, I'm sure that they didn't spend a lot of money just to get married. People didn't spend through the roof to get married in those days especially if you weren't rich. It is the conspicuous consumption of the present day. The money is mostly spent at the receptions which provide a sit down dinner for hundreds of people. When you add in all the clothes, travel arrangements for the guests coming from all over the world, engagement parties, bridal showers, bridesmaid and groomsmen luncheons, rehearsal dinners, day after brunches, gifts, honeymoon expenses - you have quite a tidy sum of money, probably enough to make a down payment on a house. Instead, this money is squandered on something that has maybe a 50 percent chance of lasting although the statistics are not clear probably because no one wants to gather accurate statistics on this phenomenon.
One thing that is clear is that marriage is becoming a thing that only the upper middle class can afford. The lower middle class and below simply cohabitate these days. They cannot afford to get married. So while there is evidence pointing to a lower divorce rate, there is also evidence to show that there is a declining marriage rate. In California at least there is no such thing as a "common law" marriage. People cohabiting are considered to be single with no rights whatsoever pertaining to the other party if and when they break up even if there are children involved. There is no such thing as "palimony" except if you're rich. Alimony only pertains to legally married couples. Lawyers will only consider taking on a palimony case if there is a lot of money involved so that they can be assured that they will be paid very well. Poor people better forget it; each is supposed to rely solely on their own resources even if the woman has raised 3 kids. In these cases the man need not pay any spousal support.
David's Bridal emerged from bankruptcy earlier this year. It didn't go bankrupt because the wedding business was becoming less profitable. It went bankrupt because it was bought by a private equity firm which loves to suck the equity out of any business, then take it bankrupt, then resuscitate it in such a way that the private equity firm profits the most. David's Bridal is making some changes to accommodate millenials:
Now, David’s Bridal is looking to conquer the new bridal landscape even as the $2.4 billion bridal-wear industry declines along with the marriage rate. Newer online retailers like Reformation offer brides more relaxed alternatives to traditional gowns. Online retailers like Jasmine Bridal are making their own wedding dresses and selling them for less than gowns sold in stores in the past.
Still, instead of an expensive wedding, some thought should be given to paying off student loan debt and making a down payment on a house or condo. Weddings just seem like a lot of wasteful spending that will soon be forgotten while the debts persist.
