Get your credit score and credit report with Finder. Free forever.
The average wedding in Australia costs $35,000. This may seem like a lot of money to spend on one day, which it is, but the potential cost over the long term is so much more.
In fact, your wedding day could actually see you retire $1.3 million poorer. And that's just with an average wedding.
So, how can your wedding possibly cost this much money? The answer is simple: by missing the opportunity to invest while you're young.
An average $35,000 wedding could cost you more than $1 million by retirement.
By the time you add up the dresses and suits, the photographer, celebrant or church fees, the band, the venue and catering as well as incidental costs like travelling and accommodation, it's easy to see how an average wedding can add up to $35,000.
But what would that $35,000 add up to later on if you invested it in the share market or your super fund? Quite a lot, according to Stockspot's head of advice Sarah King.
"That $35,000 invested into an Australian share index fund, would grow to around $779,800 in 30 years and $2,194,000 in 40 years. This is based on the historical average return from the Australian share market of 10.9% p.a."