Will the economic slowdown affect Wedding prices?

Sizzler

So we are reading about how bad things are getting in the economy, government are going to have to whistle up a few billion to keep things ticking over, unemployment rising etc etc

So, does this mean the days of the €30k+ wedding are gone? Theres a poll on a well known Irish wedding website at the moment which pretty much says €30K plus is the average ! FFS !

Wonder if wedding vendors will cop on a bit now and start to become a bit more competitive? Knowing this country, probably not !

Prices will be extortionate for as long as people will pay them!

iguana

Yes, it almost certainly will. However just how long this will take to feed through is anyones guess.

Sizzler

Deleted User wrote: »

Prices will be extortionate for as long as people will pay them!

Agreed You should have a look at some of the wedding budget posts on some of the Irish wedding forums :eek:

Wile E. Coyote

Can't see it happening any time soon. Prices are crazy but as long as people want their 'Big Day' they'll pay what ever the hotels ask.

iguana

Wile E. Coyote wrote: »

Can't see it happening any time soon. Prices are crazy but as long as people want their 'Big Day' they'll pay what ever the hotels ask.

And if they've lost their jobs / can't afford their increased mortgage payments / can't get credit, how are they going to pay for it? Because with unemployment on the rise, interest rates on the rise and banks tightening their lending criteria people may not be able to pay what they are theoretically willing to. It will be a few years before there is any real impact but it will happen.

Sizzler

iguana wrote: »

And if they've lost their jobs / can't afford their increased mortgage payments / can't get credit, how are they going to pay for it? Because with unemployment on the rise, interest rates on the rise and banks tightening their lending criteria people may not be able to pay what they are theoretically willing to. It will be a few years before there is any real impact but it will happen.

The impact is pretty noticeable in the housing market, a wedding for some people is probably the next biggest thing they will spend such a large lump sum on in their lifetime :eek:

BroomBurner

Deleted User wrote: »

Prices will be extortionate for as long as people will pay them!

Thank God!! Someone else agrees! I made that point on said wedding website only to be accused of being patronising and wishing eveyone to be miseable by not spending their money. Not my point at all. More level heads here, methinks.

kizzyr

BroomBurner wrote: »

Thank God!! Someone else agrees! I made that point on said wedding website only to be accused of being patronising and wishing eveyone to be miseable by not spending their money. Not my point at all. More level heads here, methinks.

I agree. IMHO there is something wrong with spending €30k+ on a party. The wedding part itself consists of dress (generally costing too much), suits, flowers, music & person to marry you with photographs. The rest is a party and way too much is spent on them.

esharknz

kizzyr wrote: »

I agree. IMHO there is something wrong with spending €30k+ on a party. The wedding part itself consists of dress (generally costing too much), suits, flowers, music & person to marry you with photographs. The rest is a party and way too much is spent on them.

I've been to both types of weddings, expensive and inexpensive. Not putting anyone down at all because I know it's their choice, but I actually really enjoyed the one that didn't cost nearly as much. What's even funnier is that I hear people after the wedding bleating about the loan they have to repay now.

esharknz

esharknz wrote: »

I've been to both types of weddings, expensive and inexpensive. Not putting anyone down at all because I know it's their choice, but I actually really enjoyed the one that didn't cost nearly as much. What's even funnier is that I hear people after the wedding bleating about the loan they have to repay now.

Me too. I've been to loads of weddings and the one I enjoyed the most was one abroad with just 20 guests. The couple kept it really simple, the whole affair was really relaxed and everyone commented on what a great wedding it was!

If people continue to pay 15 quid corkage per bottle and extras for chair covers/red carpets of course hotels will keep charging those prices.

Obviously it's all relative. Dropping 30 grand on one day mightn't seem massive to someone earning 100k.

However, most engaged couples I know are borrowing at least some of the cost for their big day.

nesf

kizzyr wrote: »

I agree. IMHO there is something wrong with spending €30k+ on a party. The wedding part itself consists of dress (generally costing too much), suits, flowers, music & person to marry you with photographs. The rest is a party and way too much is spent on them.

Indeed, you can easily make it come in for well under 10k so long as you drop all the seat covers and ice sculptures etc. I don't think the base price of a wedding has got that silly really, given staff costs etc.

esharknz

That's right, as long as people pay the prices charged, then noone is going to reduce the cost. I'm planning my wedding and we are likely to be spending max €3K-€4K on the ceremony and reception. This would also inclued a free bar for everyone present. Some have done this for much cheaper as well. There will be additional costs out there, like the dress, but I'm perfectly happy to get one from Monsoon or somewhere cheaper.
I mean I'm not strapped for cash but spending €30K on one day baffles me.

kizzyr

esharknz wrote: »

That's right, as long as people pay the prices charged, then noone is going to reduce the cost. I'm planning my wedding and we are likely to be spending max €3K-€4K on the ceremony and reception. This would also inclued a free bar for everyone present. Some have done this for much cheaper as well. There will be additional costs out there, like the dress, but I'm perfectly happy to get one from Monsoon or somewhere cheaper.
I mean I'm not strapped for cash but spending €30K on one day baffles me.

Me too. A girl at work got married recently (was convinced she had a small wedding only 190 people invited!) and when she got back I asked if she got many nice presents. She said yes, some lovely ones, but mostly money which was great because now they're not too much in debt. I just though, why did you bother with the OTT dress, flowers, wedding favours etc etc if you were going to be hit that hard financially? Or even if you wanted to spend it why not spend a tiny bit of that €30k on your wedding and the rest on an amazing once in a life time holiday.

BroomBurner

Am also baffled. There are loads of things people can do to save money on weddings (think there's another thread on this topic). You don't have to spend a fortune. They will always find a reason to justify spending that amount though. Spending €3,000, etc. on just a dress is ludricous. A dress you will wear for one day. Crazy. You could buy a car for that (OK, not a great car, but you'll get more use out of it!), or a class holiday, or... endless!

I think women that grew up with the "I'm Mammy's/Daddy's Little Princess" mentality are the main culprits. They've been dreaming of their wedding day all their lives. I don't think it's a healthy way to be. All that focus on you wedding day, with little focus on the marraige thats to follow.

Sizzler

BroomBurner wrote: »

Thank God!! Someone else agrees! I made that point on said wedding website only to be accused of being patronising and wishing eveyone to be miseable by not spending their money. Not my point at all. More level heads here, methinks.

Agreed. I have read some of the posts on there and you would be lucky to get a sensible word out of one single thread. Theres some quality spacers on there ready and waiting to spending their D4 Daddy's money :rolleyes:

BroomBurner

LOL There certainly are some Big Puples there! Some of them are grand though, and it's a handy place for certain things. But, jeez, dare to disagree with them having the wedding of their dreams! It's a good place for starting rows if you're ever in the mood

Not sure if you've been there recently, but now there's a post with a similar title thread to this one. Lo and behold, they all sound a tad worried bout spiralling debt.

Sizzler

Anybody notice any difference in the last few months?

Have a shortlist now and all of the venues are willing to drop prices and throw in various bits and pieces, free rooms for parents etc.

Should have been doing that in the beginning but good to see none the less

BroomBurner

Hey,
I haven't been pricing things lately! Though in saying that, I got the hotel to reduce the rate for our guests. Good news to hear that they're dropping prices, about time too. Ah, recession, cuts out the greed finely.

Any tips on where to get decent priced wedding rings anyone?