Are People Still Spending Their Entire Savings on a Wedding?
The idea of spending entire savings on a wedding has been a contentious topic for years. Traditionally, weddings, especially in the Indian context, are deemed one-of-a-kind events where lavish spending is considered a necessity to express love and affections. But are people still conceiving of their weddings in such grand terms, or is the wedding landscape transforming as societal norms and economic realities shift?
The Tradition and Pressure
Weddings are often seen as a grand affair where it is traditionally the bride's family who foots the bill. This expectation is due to cultural practices and societal norms. For instance, in Indian weddings, the main event, reception, and even honeymoon costs are frequently borne by the bride's father. The boy's family, mainly the mother, often adds extra expenses to cater to the wishes of their son.
My advice to those planning for a daughter's wedding typically revolves around starting small with gold investments. For example, buying 1g or 2g of gold every month is often recommended as a way to secure a dowry without spending one's entire savings. This approach allows families to plan and save incrementally, reducing the financial burden of the entire wedding event.
My Personal Experience and Observations
When I got married, the simplicity of the ceremony was one of the highlights. My wedding involved only an evening reception with all costs shared equally. There were no Mehendi or haldi ceremonies, pre-wedding shoots, or extravagant fireworks. Costs were minimized, and we did not feel the need to invite a large number of guests.
Fast forward to more recent times, and even the most basic weddings have become more ostentatious. Now, Mehendi, haldi, and pre-wedding shoots are standard practices. Hall rental can easily cost 2 lakhs for a day, and meals can start at 400 per person. My niece's wedding, for example, cost around 6 lakhs, indicating a significant increase in expenses over the years.
Modern Trends and Choices
The latest trend, as we see across different regions, is destination weddings. Instead of inviting more than fifty people, couples are choosing to hold their weddings in exotic locations. This shift not only serves as a cost-effective measure but also allows for a more personalized and intimate experience for everyone involved.
However, some argue that the tradition of spending the entire savings on a wedding might still exist. For example, among my friends, some parents have contributed around 30,000 to 40,000 to ensure that their children's weddings are attended by a large number of guests. I believe that this kind of expenditure can be better directed towards purchasing a home or providing a stable financial foundation for the couple.
Conclusion
While there are still instances where people feel the need to spend their entire savings on a wedding, it is becoming more common to find couples and their families taking a more pragmatic approach. Balancing tradition with modern realities, many are choosing to prioritize their future over a single night of celebration.