Team Tony cultivates, curates and shares Tony Robbins’ stories and core principles, to help others achieve an extraordinary life.
What’s your wedding worth?
Balancing the cost of your big day with the quality of your future life
Legal Disclosure: Tony Robbins is a board member and Chief of Investor Psychology at Creative Planning, Inc., an SEC Registered Investment Advisor (RIA) with wealth managers serving all 50 states. Mr. Robbins receives compensation for serving in this capacity and based on increased business derived by Creative Planning from his services.
Everyone knows that weddings are expensive. But the wedding website The Knot.com created a lot of buzz earlier this year when it released the findings of its annual survey, concluding the average 2014 wedding (honeymoon excluded) cost $31,213.
Will Oremus over at Slate quickly responded, pointing out that the median American wedding is actually closer to $15,000 and to provide the world with a calculator that determines just how much money you’d have now if you had invested the same sum you spent on your wedding. (Spoiler alert: the sum is roughly double what you spent.)
These shocking numbers have led to various reactions – everything from diatribes against the wedding industry to strategies to save for upcoming nuptials. Here at Team Tony we want to share this piece of wisdom from our fearless leader:
“Remember the ultimate truth: life is not about money, it’s about emotion. The real goal is to have the lifestyle you want, not the things.”
Most little girls (and, less so, little boys) dream of their wedding day – but you have other dreams too. When you consider the price of your dreams and the price of your wedding, examine if the cost of your wedding is worth the experience to you, or if the price tag is going to negatively impact your other dreams for your future. Perhaps you decide that you will look just as radiant becoming financially free as you would in the couture gown you’ve had your eye on.
Image credit © Kostenko Maxim/shutterstock
Think like the ultra-wealthy and count the cost before things get out of control. Consider what is really important to you and spend your money there. You don’t have to compromise the quality of the occasion, but begin to think about what is most important to you and how you can get it at less cost to your future self.
Start to think creatively. Do you have a friend who would be willing to contribute his or her talent (i.e. hairstyling or DJ-ing) as their gift to your wedding? Could you offer a trade to help your photographer friend with their taxes in exchange for professional photos?
Did you know that you can rent your dress? Or buy one for half the cost from a bride who wore it just once before? No one else need know, and you can retain the significance of feeling especially beautiful for your big day while still knowing you are investing in your future.
“The quality of your life is the quality of your emotions.” So create the wedding experience that is going to bless you both on your special day and when your new family is looking at making your dreams together a reality.
Header image © halfpoint/shutterstock