It's no secret that weddings are extremely expensive. Just how pricey exactly? According to CNN Money, the average wedding cost is now over $30,000.
However, as Slate's Will Oremus finds, this astronomical amount may be quite misleading for couples. In fact, the real number should be about half of that amount.
Read this excerpt below about his fundamental issue with calculating an 'average.'
"But an even bigger problem with the average wedding cost is right there in the phrase itself: the word 'average.'
You calculate an average, also known as a mean, by adding up all the figures in your sample and dividing by the number of respondents. So if you have 99 couples who spend $10,000 apiece, and just one ultra-wealthy couple splashes $1 million on a lavish Big Sur affair, your average wedding cost is almost $20,000--even though virtually everyone spent far less than that.What you want, if you're trying to get an idea of what the typical couple spends, is not the average but the median. That's the amount spent by the couple that's right smack in the middle of all couples in terms of its spending."
You can read the full article here.
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