Jeremy Levitt Funding Your Wedding Interview
The rite of passage for many young couples to expect a handout from mum and dad to help pay for their wedding appears to still ring true, but the incidence is dwindling.
Thirty-two per cent of marriages which occurred since 2011 were thanks to parents helping to foot the bill. That compares to 56 per cent of parents who helped those who married in the 1970s and 44 per cent of parents who contributed to weddings in the 1990s.
To make up the shortfall, many brides and grooms whipped out the credit card to ensure their big day was perfect with 13 per cent who married since 2011 admitting they used credit to help say -I do'. Another six per cent took out a loan to help pay for the day.
The vast majority of newlyweds saved hard to make their dream wedding come true, with 81 per cent admitting they saved at least part of the costs ahead of the day.
'Even though our research shows that the average cost of a wedding is down with 45 per cent spending no more than $10,000, that's still a lot of money to find in today's expensive world," says ServiceSeeking.com.au CEO Jeremy Levitt.
'Some parents have started to hold back, but many who are financially able are still more than willing to chip in. But for many it is unaffordable with adult children living in the family home for longer.
'Perhaps today's bride and groom are more socially concerned with spending other people's money, hence the downturn in wedding budgets."
Whatever the reasoning, couples are saving costs on their wedding by making or emailing their own invitations (28 per cent), getting a friend to make the cake (17 per cent) or DIY'ing flowers and cars (19 per cent).
It is a common perception that mentioning the word wedding applies a surcharge to your quote, but that's not the case when hiring services through www.ServiceSeeking.com.au.
Statistics are from a recent survey of more than 2,200 ServiceSeeking.com.au customers.
Interview with Jeremy Levitt
Question: How often do parents help cover the cost of weddings, nowadays?
Jeremy Levitt: Since 2011, 32% of marriages were thanks to parents helping to foot the bill.
Question: How has this changed over time?
Jeremy Levitt: We've noticed a declining trend in parents helping out to pay for their child's wedding. In the 1970's over half (56%) of parents chipped in, but this number is steadily dropping. In the 1990s it was 44% and in the last 5 years just 32%.
Question: If parents aren't paying the bill; how are couples paying for their weddings?
Jeremy Levitt: Many young couples are using credit and taking out loans to pay for the big day. Our survey revealed 13% who married in the last 5 years used credit and another 6% took out a loan. The large majority (81%) of newlyweds admitted they saved at least part of the costs ahead of the day.
Question: What is the average cost of a 2016 wedding?
Jeremy Levitt: Our research shows the average cost of a wedding is down, with 45% spending no more than $10,000. That's not to say weddings come cheap these days, but I think people are finding new ways to save costs here and there by outsourcing online or DIY-ing certain aspects.
Question: Has the cost of weddings reduced or increased?
Jeremy Levitt: The cost of weddings has steadily decreased. Websites like ServiceSeeking.com.au help customers save up to 15% on a typical wedding by pushing businesses into a competitive process. Customers can now put their job out to tender (think wedding photography, invitation design and printing, videography) and compare prices instantly. Because businesses are competing, the customer gets the sharpest price possible. The process saves time and money.
Question: How can Australians reduce the cost of their wedding?
Jeremy Levitt: There's many cost saving measures out there now that couples are increasingly adopting. According to our survey, couples are looking past traditional avenues and opting to DIY or asking friends to help out.
- Making or emailing their own invitations (28%)
- Getting a friend to make the cake (17%)
- DIY-ing flowers and cars (19%)
Also remember to compare quotes from multiple providers. Posting your wedding on ServiceSeeking.com.au is a great start.
Question: How much of a surcharge does the word -wedding' usually add to a quote?
Jeremy Levitt: If you are not careful, you can pay double.
Question: What is ServiceSeeking.com.au?
Jeremy Levitt: A website where you can get any job done. 13% of all weddings in Australia start with ServiceSeeking.com.au. Our customers have compared more than 8 million quotes from hard working, talented businesses since we launched. It's the best way to research and hire a local business and pay the right price, every time.
Question: What inspired the creation of ServiceSeeking.com.au?
Jeremy Levitt: The issue we encountered first hand was a simple one. Businesses didn't seem to really WANT work. Some would say they were too busy. Some wouldn't answer their phones and others would fail to turn up on time or at all. It was time to create a better way.
ServiceSeeking.com.au is a website that every Australian needs. In starting our business, we decided to turn the whole experience of getting a job done on its head. Why not create a website where interested and available businesses called you rather than the other way around? Enter ServiceSeeking.com.au
Question: How does ServiceSeeking.com.au help couples reduce their wedding cost?
Jeremy Levitt: 1. Pay the right price everytime: The competitive nature of our website means you'll never overpay. Businesses know they are competing for your job so they'll sharpen their price to win your work.
2. Get Super Fast Quotes: The average job gets quotes in minutes. Tight on time? Post your job and you'll be blown away with the speed of contact from our hard working businesses.
3. Maximum Choice: We give you more quotes for your job than our competitors. We offer you the most choice and the most quotes to compare to get your job done on your terms.
We have thousands of categories, for any type of job.
ServiceSeeking.com.au caters for literally any service you need and we are expanding into new industries everyday. Bookmark the site as your -go-to' resource for getting stuff done.
Interview by Brooke Hunter