Weddings are among life’s most joyful milestones, and often some of the most financially significant. As invitations start rolling in and plans take shape, we find that many couples (and their families) are thinking not only about how to celebrate, but also how to plan wisely.
From engagement to “I do,” today’s wedding traditions reflect evolving values around partnership, personal priorities, and financial responsibility. Whether you’re helping a child plan their big day, navigating a new chapter in your own relationship, or simply attending more events this season, these moments often come with important financial considerations. When thoughtfully integrated into your broader financial plan, they can strengthen your goals, express your values, and support your long-term vision.
Engagement Trends: Beyond Diamonds?
The engagement ring has long been a symbol of enduring commitment. Today, many couples are exploring lab-grown diamonds as a modern alternative – valued for their ethical sourcing, sustainability, and cost-effectiveness. These stones are virtually indistinguishable from mined diamonds and offer an opportunity to allocate resources toward other shared goals, such as travel, a future home, or even early retirement plans.
Celebrating Smart: Wedding Costs and Creative Planning
Weddings can be as intimate or extravagant as you choose. While the average cost hovers around $33,000,1 for many couples – especially those planning destination events or multi-day celebrations – expenses can rise to $100,000 or more.
In addition, traditions have evolved. Some couples finance the entire event themselves; others share costs with family members or structure contributions creatively. One savvy approach: establish a clear wedding budget that includes a set sum for your event. Anything left over can be redirected to other priorities, like a down payment on a first home or an investment portfolio that supports your shared vision.
Prenups and Protecting What Matters
Though it may feel unromantic, a prenuptial agreement can be a valuable tool – especially if you’re bringing significant assets, family business interests, or prior commitments into the marriage. Clear conversations early on can help set expectations and protect what matters most.
Wedding Gifts: Navigating Etiquette with Grace
As you’re invited to celebrate other couples, consider how your wedding gift aligns with your own financial goals. In 2024, the average wedding gift was about $150,2 though closer relationships or grand celebrations might inspire a more generous gesture. Destination weddings or multiple events may warrant flexibility in your approach.
Plan Thoughtfully—Celebrate Confidently
At Crestwood, we see these life events as part of your broader financial journey. Whether you’re choosing an engagement ring, planning a celebration, or discussing how to protect your future together, we’re here to help. Let’s ensure your wedding day is a celebration of love – grounded in a clear financial vision.
Connect with Us
If you’re already working with Crestwood, reach out to your advisory team to integrate wedding planning into your financial roadmap. If you’re not yet a client, we’d be delighted to introduce ourselves and explore how we can support your goals together.
Source: 1 How Much Does the Average Wedding Cost, According to Data? The Knot, February 26, 2025
Source: 2 How Much to spend on a Wedding Gift According to Experts, The Knot, March 21, 2025
