Millennials change wedding traditions, save money

Millennials change wedding traditions, save money
(Source: NBC)

(NBC) - Another wedding season is nearly upon us and a lot of money is going to be spent.

But it looks like a certain age group is changing some of the more traditional, time-honored customs of getting married to save money.

Most couples spend less than $10,000 for a wedding but the average cost of a wedding in the U.S. this year will be nearly $26,000. That doesn't include the costs of the honeymoon.

It's gotten expensive to even attend a wedding too.

Bank Rate's Robert Barba wrote about the survey they did on wedding costs, with a focus on what guests should expect to spend on travel, accommodation and gifts.

It averaged $627 for close friends and family members and $728 if you're a member of the wedding party. Going to multiple weddings is the reason why millennials are having to stick to strict budgets.

"There's a lot more non-Saturday weddings," Barba said. "I'm going to a wedding on a Monday this year. I've been to weddings on Thursdays. I think that millennials are looking for all sorts of opportunities to save money where they can."

All of which might reduce average wedding costs, because that's what millennials want.

For the guests, experts suggest to start saving when that picture of the ring pops up on social media. Make sure you do some financial planning and don't go overboard with every wedding you attend.

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