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How to Get Hitched – To Elope or Nope?

It’s a question that’s difficult to answer, but will inevitably arise when you are about to pass out in a pile of invitations and fabric samples. Is planning a wedding worth the hassle? Does it really matter whether you have daffodils, daisies or…dandelions? To elope or not to elope, that is the question. If you’ve thrown up your hands in frustration, don’t give up! Through a title fight that would make Hamlet proud, we have arranged five rounds of the ultimate pros and cons of elopements and weddings. You pick the winner! Tighten your resolve and get out your wallet…

Round 1: Cost (Winner: Elope)

Eloping = Affordability

As you probably realized halfway looking into bouquets, dresses and venues, weddings are expensive. Let’s say that again. Weddings are REALLY expensive! Like a down-payment-on-a home or college-tuition expensive. The Knot’s 2019 study placed the average cost of a wedding at an eye-popping $33,900.

And that doesn’t even include the honeymoon.

That big wedding price tag is the foremost reason for eloping. Not only is it significantly more affordable, but you are spending your money on yourself instead of things for your guests like catering and favors. You purchase exactly what you want, like your favorite brunch or tickets to your dream destination. After all, the day is all about your love for each other.

Remember, though – when you skip out on the cost of a wedding, you skip out on a lot of other things like your family’s involvement and the excitement of planning. Eloping can be financially beneficial, but it sacrifices that perfect day in white you’ve probably been dreaming about since you could march your baby dolls down the aisle.

Round 2: Family (Winner: Wedding)

Wedding: Little Moments

Some of the best moments that accompany your wedding are with your family and friends. Think of your dad walking you up the aisle while whispering the worst dad jokes in the world or your best friends throwing it down to YMCA. A wedding is truly a celebration of your relationship through all the speeches and little intimate congratulations and awkward dance moves. It is expensive to host a wedding, but how can you put a price on those special memories?

Eloping: Control

Then again, if family drama is in your DNA, your wedding might drown in drunken fights and political blunders. In the case of an “excitable” family, your wedding could quickly spiral out of control; whereas eloping grants you complete authority. Again, the day truly centers on what YOU want – not your crazy relatives. You can focus just on you and your partner, making the day entirely more peaceful and intimate than the ruckus of a big party potentially going awry.

Round 3: Planning (Winner: Elope)

Eloping: No Planning

Well, hardly any planning at least, and no Bridezilla stress for months before. Without hundreds of guests to worry about, you can take the day at your speed. You want to sleep in and spend four hours drinking coffee and casually doing your makeup the morning of? Go right ahead!

Wedding: Planning

While straightening out an entire wedding can be extremely stressful, it is also really fun. You get to choose just the right dress, venue and little flowers. You get to taste a million cakes, dinner and champagne options. With a wedding, you get to pick every tiny detail that makes you the happiest for one magical day. Price tags be darned!

Round 4: Social Pressure (Winner: Wedding…Barely)

Wedding: Expectations

There can be an astronomical amount of pressure to have a wedding. We’re talking about tin can crushed at the bottom of the ocean, submarine type of pressure! Your parents and friends may expect you to have a big traditional ceremony and it may feel like not having that wedding will let your loved ones down. Rise for air my little submarine, as this is a great time to remember that the wedding is for you! It is your time to celebrate with the people you care about and who care about you. Your expectations are what matter.

Eloping: Modern Eloping

If you had mentioned eloping a few decades ago, people would have gone crossed eyed and acted judgy. Thankfully, modern elopements are significantly less scrutinized! As the price tags for weddings grow, so does societal acceptance of dashing off. The modern elopement is likely to be seen as financially and mentally healthy for the couple and ultimately is now socially condoned.

Shhhh: (Plus, you don’t even have to tell anyone until after you’re back from the dream honeymoon!)

Round 5: Memories (DRAW!)

Wedding: Lasts a Lifetime

Out of all the beautiful and chaotic mosaic pieces of a wedding, one of the greatest benefits are the everlasting memories. After many happily married years, you will be able to look back at the photos and videos and remember each fantastic second. You will be able to show your children and grandchildren the perfect day that celebrated your love. And in these wedding mementos, you will be able to see your family members even after you all have grown grey. In this way, your wedding day is likely one of the only days that everyone you and your spouse care for will be in the same place; the experience of a lifetime perfectly preserved.

Eloping: Sharing your love with more intimacy and less grandiosity

Eloping leaves little room for grand memories. As the day is so private, you miss all the tokens from your loved ones’ involvement, like the funny or tear provoking videos or the best man’s speech. While professional photographers are rare for elopements, ultimately, eloping can be filled with uncomplicated, simple and beautiful moments.

The Decision:

Did weddings and eloping come to a draw for you as well or do you have a winner? It was almost too close to call! Are you committing to the beautiful white dress under twinkly lights or running off to a beach in Maui? Let us know your winner at newlywed@demandwealth.com. If we post your response you will receive a complimentary consultation with one of our Financial Advisors.

Whatever you pick for your special day, we wish you the happiest of marriages filled with lots of love and financial health! Start building your financial future with the ‘Demand Newlywed’ portfolio and get your questions answered via a Zoom consultation with a Demand Wealth advisor today.

This report is a publication of Demand Wealth. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.

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