Tips for an Awesome Wedding on a Budget

If you're getting ready to tie the knot, you're probably also getting ready to drain much of your savings -- or worse, charge up your credit card. The average wedding budget for 2016 was $35,329, which is a ton of cash that could instead go toward key financial goals, like saving for a house down payment or repaying student loans -- which, at an average of $37,172 for students graduating in 2016, costs about the same amount that the average couple spends to say "I do."

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If you have less than a few million in the bank, then throwing a lavish wedding is one of the biggest money mistakes you and your spouse-to-be could make. In fact, a 2014 study by a pair of Emory professors found that women whose weddings cost more than $20,000 were 1.6 times more likely wind up divorced than those whose weddings cost between $5,000 and $10,000.

Source: Fool.com