Survey finds B.C. couples and wedding guests facing steep costs

British Columbia couples are facing wedding costs well above the national level, according to a Wealthsimple survey of more than 1,200 customers.

The survey found the median B.C. wedding cost was between $40,000 and $59,999, compared with a national median of about $25,000. Nearly 55 per cent of B.C. couples said they spent more than budgeted, almost 60 per cent described paying for the wedding as somewhat or very stressful, and 47 per cent used a credit card for wedding expenses, compared with 26 per cent nationally.

Vriti Panwar, a lead wealth-management adviser at Wealthsimple, said high provincial living costs raise the starting price of venues, accommodation, catering and services. She advised couples to discuss realistic budgets and other financial goals, build in a buffer and start saving early.

Nearly three-quarters of B.C. couples said they felt pressured to spend more than they were comfortable with. The survey found nearly 15 per cent were opting for weddings with fewer than 25 guests.

Guests also reported financial strain: 26 per cent of B.C. respondents said they spent $1,000 to attend one wedding, 15 per cent took on debt, and more than 40 per cent had declined a wedding or related event because of cost. A separate TD survey found 48 per cent of B.C. residents considered cost when deciding whether to attend a wedding.