Canceled Weddings: How to Spend Your Money Instead

It’s been a strange year in the wedding industry! In 2020, a large number of couples were forced to rethink their wedding plans thanks to the COVID-19 pandemic, and although things are slowly opening back up, 2021 weddings are still not back to ‘normal’. With so many canceled weddings, the number of elopements and micro weddings has spiked over the past 18 months and many are wondering if this is going to be the new normal?

An Unexpected Benefit of Canceled Weddings

One of the unexpected benefits that emerged from all of the canceled weddings last year was that many couples who had been saving for a big traditional wedding now found themselves with thousands of dollars available in the bank! Even after paying cancelation fees or rebooking a smaller, more intimate wedding or elopement, most couples found they had saved themselves a nice sum of money by not having the lavish celebration they had originally planned! This had started to make other couples think twice about spending so much money on a wedding. This is one factor that contributes to the idea that small weddings are going to become the new normal in the industry. Even vendors who previously only catered to large weddings are having to rethink their business plans.

How to Spend The Money You Saved

So with the money-saving aspect of canceled weddings, what are couples using that money for instead? Here are just a few examples!

• Putting a Down Payment on a House or Condo
• Paying Off Debts including Student Loans to Start Your New Life Fresh
• Investing or Saving for the Future
• Renovating Your Home
• Planning a Huge Party for Your Anniversary
• Arranging a Professional Photoshoot for the Family
• Buying a New Car
• Starting a College Fund for Your Children

Have you got some leftover cash from a canceled wedding?
How will you be putting it to use? Let us know!