WeddingWireEDU

WeddingWire 2018 Newlywed Report

WeddingWireEDU provides the latest stats, education and advice for wedding and event professionals!

Issue link: http://publications.weddingwire.com/i/953286

Contents of this Issue

Navigation

Page 14 of 17

1 5 W H E R E PA R E N T S F I N D T H E M O N E Y 56% 22% 20% 9% 7% 7% 3% Took out money from savings account Took out money from a specific account created for their child and/or their wedding Credit cards Dipped into retirement Cashed in stocks and/or liquidated assets Took out a loan Refinanced/home equity On average, Millennials (who account for approximately 80% of today's marrying couples) are paying for roughly 40% of their wedding, while parents and other family members are contributing the remaining 60%. Parents are often pulling funds from their savings account and nearly 1 in 10 are dipping into their retirement. WHO'S PAYING FOR THE WEDDING P E R C E N T O F T O TA L W E D D I N G C O S T PA I D F O R A L L M I L L E N N I A L S G E N X L G B T Q C O U P L E S 4 5 % 3 9 % 6 6 % 5 9 % PA R E N T S 4 6 % 5 1 % 2 9 % 3 6 % O T H E R 9 % 1 0 % 5 % 5 % LGBTQ couples are spending nearly $25 more per guest than the average couple based on a total ceremony/reception spend of $26K. Interestingly, the total wedding spend and guest size of LGBTQ couples are gradually increasing from previous years (+7 guest count YoY), plus same-sex couples are receiving much more financial support from their parents than five-years ago 2 – suggesting continued progress towards mainstream weddings. EVOLUTION OF LGBTQ WEDDINGS COUPLES COST S A M E - S E X C O U P L E S W H O PAY F O R A L L / M A J O R I T Y O F W E D D I N G 2 0 1 3 79% 2 0 1 7 61% 2 Source: Community Marketing, 2013 Contemporary Couples of millennials have their wedding fully paid for by parents (or other contributors) 20% WEDDING TIMELINE

Articles in this issue

view archives of WeddingWireEDU - WeddingWire 2018 Newlywed Report