According to a new a survey from Spectrem Group’s Millionaire Corner, men and women have different priorities when it comes to weddings. Did we really need a study to tell us this?
Thirty-six percent of women want to spend $5,000-$10,000 on a wedding, but 24% of men want to spend less than $5,000.
Other interesting findings from the study included
Women like larger weddings
Forty percent of male investors think 100 guests or less is a normal size for a wedding while 49% of female investors think 100-150 guests is a normal size for a wedding.
Men tend to splurge more on gifts
Men are willing to splurge more on wedding gifts: 43% of men will spend $100-$200 on a wedding gift for a close friend or family member, while 37% of women will spend $100 or less on a wedding gift for a close friend or family member.
Venue beats food
Investors with a net worth of $1MM-$5MM (34%), believe food is the biggest wedding expense, while 36% of the uber-wealthy ($5MM+) think the venue is the most costly wedding expense.
And if you aren't a millionaire, here are a few areas where you can save a couple of bucks.
- An intricate, over the top wedding cake: Try cupcakes or a store bought cake that you decorate
- Skip the opulent center piece for the table: You can't see anyone anyway
- Skip the fancy, engraved invitation: What is this? Downton Abbey?