Summary
Famous investor Kevin O’Leary is advising engaged couples to avoid spending large amounts of money on their weddings. The "Shark Tank" star believes that expensive ceremonies are a poor financial choice that can damage a couple's long-term stability. Instead of a big event, he suggests having a small, private ceremony and using the savings to invest in a home or other financial goals. This advice comes as the average cost of a wedding in the United States continues to rise, making it harder for young people to reach major milestones like homeownership.
Main Impact
The primary impact of O’Leary’s message is a call for a shift in how young people view marriage and money. By choosing a simple civil ceremony over a massive celebration, couples can save tens of thousands of dollars. This money can serve as a down payment for a house or a starting point for an investment portfolio. In an economy where housing prices are at record highs, skipping the "big day" could be the difference between owning a home and renting for another decade. O’Leary argues that starting a marriage with a large amount of debt is a mistake that sets couples back for years.
Key Details
What Happened
In a recent video, Kevin O’Leary, the founder of O’Leary Ventures, spoke directly to couples planning their weddings. He called large, expensive weddings a "waste of money" and urged people to think about their future selves. He recommended that couples opt for a small civil ceremony followed by a modest party with only their closest friends and family. O’Leary emphasized that being selective about the guest list and avoiding the "extravaganza" is the smartest move a couple can make before they say "I do."
Important Numbers and Facts
The cost of getting married has reached new heights in 2026. According to data from the wedding platform Zola, the average cost of a wedding in the U.S. is now $36,000. This figure includes the venue, clothing, flowers, and photography. A study of over 11,000 couples found that 84% believe their wedding will cost more this year than in previous years due to inflation and the general state of the economy. Meanwhile, the median price of a home in the U.S. has hit $405,000. To avoid extra fees like private mortgage insurance—which is a monthly cost added to a loan if you don't pay enough upfront—a couple would need a down payment of about $81,000.
Background and Context
This topic is important because the financial landscape for young adults has changed significantly. For many years, a large wedding was seen as a necessary tradition. However, with the average age of a first-time homebuyer rising to 40 years old, many people are finding it impossible to afford both a wedding and a house. The pressure is not just on the couples, but also on the guests. Many wedding guests now face high costs for travel, gifts, and specific dress codes, leading to more stress for everyone involved. O’Leary’s advice focuses on the "math" of the situation, suggesting that the emotional value of a one-day party does not outweigh the long-term benefit of financial security.
Public or Industry Reaction
The reaction to O’Leary’s blunt advice is mixed. Some wedding industry experts, like Sammi Kobrin from Zola, argue that most couples feel the cost is worth it because it brings family and friends together. They see the wedding as a rare life event that justifies the high price tag. On the other hand, many financial experts and young people agree with O’Leary. With more than half of people earning six-figure salaries saying they cannot afford a home, the idea of spending $36,000 on a single day seems impractical to many. There is a growing trend of "micro-weddings" and elopements as more couples prioritize their bank accounts over tradition.
What This Means Going Forward
Looking ahead, we may see a continued decline in the size and cost of traditional weddings. As interest rates for home loans remain around 6%, every dollar saved becomes more valuable. Couples who follow O’Leary’s advice will likely find themselves in a better position to handle emergencies or buy property. O’Leary also warned against taking expensive honeymoons right away. He suggests that couples should wait until they are financially stable before taking a luxury vacation. The next step for many will be a difficult conversation with family members about why they are choosing a smaller ceremony, but the long-term reward is a life free from "wedding debt."
Final Take
While a wedding is a beautiful celebration of love, it is also a major financial decision. Kevin O’Leary’s advice serves as a reality check for those caught up in the excitement of planning. By focusing on long-term goals like buying a home or investing, couples can build a stronger foundation for their life together. Choosing a small ceremony today could lead to a much more comfortable and secure life tomorrow. In the end, the strength of a marriage is not measured by the price of the party, but by the stability of the future the couple builds together.
Frequently Asked Questions
How much does the average wedding cost in 2026?
The average cost of a wedding in the United States has risen to approximately $36,000, covering the venue, food, and other services.
What is Kevin O’Leary’s main advice for engaged couples?
He suggests skipping the big, expensive wedding and honeymoon. Instead, he recommends a small civil ceremony and investing the saved money into a home or future savings.
Why is it harder for couples to buy a home today?
High home prices, which average around $405,000, and the need for large down payments make it difficult. Many couples find that spending money on a wedding prevents them from saving enough for a house.