By Eric Stock
BLOOMINGTON – A shared life of wedded bliss often starts with financial stress, because of the rising cost of tying the knot that a majority of Americans believe is too much.
The average cost for a wedding is approaching $30,000. Country Financial’s Director of Wealth Management Troy Frerichs said a way come couples are saving money is by getting a used engagement ring. Nearly three-in-four women surveyed by Country Financial said they would be on board with a used engagement ring.
“There are so many superstitions about your wedding day and those traditions, but the financial part of this is taking root,” Frerichs said. “That $30,000 is considered by virtually everybody (86 percent) as being too much.”
Frerichs conceded we are not likely to cut back.
“It’s a party, it’s a celebration,” Frerichs said. “Everyone says it’s too much, but they are still not showing the signs that they want to change that.”
The survey shows a majority of Americans think it’s acceptable for couples to share the cost of a wedding. Only 23 percent think the couple should cover their own wedding costs. Eleven percent believe the bride’s family should foot much of the bill.
Eric Stock can be reached at eric.stock@cumulus.com.
