Canadian couples overspend wedding budgets by nearly 70%
The findings, which captured the experiences of recent newlyweds, wedding party members, guests, engaged couples, and those who had delayed marriage due to cost, paint a picture of widespread financial pressure wrapped in white satin.
“The gap between expectation and reality is striking,” the Wealthsimple report noted, adding that nearly seven in ten newlyweds (69 per cent) reported feeling pressured to spend more than they were comfortable with.
When more money means more stress
Perhaps the most counterintuitive finding is that earning more does not appear to insulate couples from financial anxiety on their wedding day.
Among households earning $150,000 or more annually, 58 per cent exceeded their budgets, compared with 46 per cent of those earning $75,000 or less. And 59 per cent of top earners reported feeling stressed about wedding costs, versus 47 per cent of lower earners.
