But for the rest of us who don't have the spare millions to throw around on one day's celebration, here is some personal finance advice from the WSJ.
People get angry when I point this out. But if your money earns, say, 4% a year above inflation, every dollar you save at age 20 will grow to about $6 by the time you retire. So that $17,500 will grow to about $100,000. If you're financially secure, maybe it doesn't matter so much. But most middle-class Americans are in a far more precarious situation than they realize. They have saved little, if anything, for their retirement, and they are deeply in debt. (Household debts are about twice what they were a decade ago.) And we've seen what can happen to jobs and wages in a slump. In these circumstances, saving money instead of spending it matters very much.So if you or your child is getting married any time soon, discuss whether the memories of an expensive wedding will compensate for not having that money sitting in the bank gathering interest. There may come a day when that little nest egg put away in place of the fancy cake and flowers and the joy of entertaining a few hundred of your closest friends.