Opinion

OPINION: Downsizing the wedding price tag to buy first home

I HAVE never been one of those girls who always dreamed about planning a wedding.

While tying the knot is an important milestone in the lives of most, myself included, I question the price tag and hype attached to the word wedding.

After eight years, my partner popped the question while we were snowboarding in Queenstown in August.

It was so special.

That was until the wedding questions started coming only hours after the proposal.

Yeah I understand after eight years it was pretty exciting for our family and friends, but getting questions like "when is the wedding" only hours later was a bit much. 

I was still in shock that I was actually engaged and had a ring on my finger to even think about a wedding!

A national survey commissioned by industry super fund - owned bank ME found many young Australian couples may be choosing a mortgage over wedding bells this wedding season.

While we have tossed up the options, we have decided that we do want a wedding and a first home.

But even if I have $1 million dollars in my bank - I couldn't comprehend spending a fortune on a wedding.

The survey revealed the average cost of a wedding to be $36,000!

I know for a fact some of our friends have spent well above that amount.

So you can understand why nearly 23% of Australian Millennials have downsized their nuptials in favour of buying a home.

The prospect of buying a home is so daunting that some brides and grooms now ask guests for a monetary contribution towards their house deposit instead of traditional gifts.

Would or did you spend the big bucks on your wedding or downsize and put the extra cash towards your first home? Join the conversation and have your say below.
 

Topics:  first home, opinion, price, proposal, wedding



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