Class Differences, The Bachelorette Tax, & The Wedding Industrial Complex

The Financial Diet

TFD

Business

4.3 • 548 Ratings

🗓️ 23 January 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chelsea speaks with writer Philip Ellis about wedding culture, social expectations, and how they're ruining our finances. Click here to check out Philip's new book, Love & Other Scams: https://bit.ly/3JdvLmF MORE FROM TFD Join our membership program, The Society at TFD to get exclusive bonus content + access to tons of other perks like our members-only book club: https://www.youtube.com/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw/join The Financial Diet site: http://www.thefinancialdiet.com Facebook: https://www.facebook.com/thefinancialdiet Twitter: https://twitter.com/TFDiet Instagram: https://www.instagram.com/thefinancialdiet/?hl=en

Transcript

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0:00.0	Hello, everyone. It's me, Chelsea Fagan, your host, founder and CEO of the Financial Diet, and person who loves to talk about money.
0:08.7	And today I'm talking with someone who is a little bit unusual for the typical guests we have, or at least the reason bringing him here today is a little bit unusual.
0:17.5	But I think that you guys will quickly see why this particular project of his
0:21.7	we're discussing is so heavily tied in with a lot of the broader themes that we talk about
0:26.3	at TFD. As the title would suggest, a lot of people and especially a lot of women who are
0:31.9	moving through their young adulthood, their 20s, their 30s, they're often dealing with other people's life
0:39.0	celebrations as well as the expectations of their own.
0:43.0	We've done a few episodes in the past about the wedding industrial complex and the social
0:47.6	pressures that it can put on us, but it's not just weddings that often leave people spending
0:51.8	beyond their means or even going into debt with the
0:54.7	average cost of being in a bridal party in the US, for example, now hovering around $1,000,
0:59.8	and that's not including a lot of the extras that are increasingly tacked into these life
1:03.3	celebrations.
1:05.0	It's the Bachelorette trips.
1:06.3	It's the baby showers.
1:07.4	It's the gender reveals.
1:08.6	It's the birthdays.
1:10.0	It's the increasingly expensive task of
1:12.0	celebrating yourself and celebrating others. If you feel like things like weddings have completely
1:17.3	spiraled out of control in terms of cost, that is not in your imagination. Weddings cost now in the
1:22.7	US far more than they did a few decades ago adjusting for inflation. And a lot of that is driven by social
1:28.2	media, right? It used to be that all of these life celebrations were things that were just
	...

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