Gen Z is Swiping to Say ‘I Do’, and 12% Are Still Paying the Price

Scrolling through Instagram, you see your old high school classmate’s wedding — the perfect pastel bridesmaids, the glittering gown, the chateau. You’re happy for them… but how did they afford that at 24?

Turns out, they probably didn’t. Gen Z is disproportionately financing weddings with credit cards. According to a new CardRates.com survey, nearly a third of Gen Z respondents (31%) said they used credit cards to pay for their weddings, more than any other generation.

The average wedding in 2024 costs $33,000 — far more than most twenty-somethings can afford to pay upfront. But it seems that instead of having a small ceremony they could afford, Gen Z is finding a way to get married ASAP, even if the credit card bills keep coming well into married life.

Still, there is a way to smartly use credit cards to save money in the wedding planning process. Fresh credit card debt isn’t the best way to start a marriage, but tons of credit card points can be.

A traditional wedding isn’t cheap. But for couples who have been dreaming of their perfect, fairytale wedding, it’s tough to give up the perfect-wedding dream for frugality.

We found that of the 31% of Gen Z respondents who said they used credit cards to pay for a wedding, 12% are still paying off their wedding-related credit card debt. Given that finances are the second-biggest determinant of divorce, that’s pretty concerning.

When compared to older generations, this represents a noticeable change in how weddings are funded. Only 6% of Gen Z paid everything upfront, versus 44% of Silent Generation respondents and 37% of baby boomers. 

That said, we can’t ignore the fact that economic pressures have greatly affected the cost of weddings today compared with those of yesteryear. Between a booming wedding industry and inflation, it’s no secret weddings are much more expensive today than they were for your grandparents.

Credit card debt is at an all-time high as people struggle to make ends meet, and it’s undeniable that social media has contributed to an expectation that everyone, including average and low-income people, should have an extravagant wedding ceremony. 

“Once the bride and groom start consuming content tied to weddings, the algorithms on apps and websites will pick up on the fact that they are in the market for wedding-related goods and services and push even more wedding-related content into their feeds,” said Bobbi Rebell, CFP® and Personal Finance Expert at CardRates.com. 

Rebell adds, “The elevated pressure to measure up to the standards seen on social media can push couples to make decisions that aren’t in the best interest of starting their future together with a solid financial foundation.”

But when you hold people to a wedding standard they cannot afford to keep, something has to give. For many Gen Zers, that something is their credit card balance.

While taking on credit card debt to pay for a wedding is never a good idea, credit cards can still be used to your advantage. If you pay off your balance each month, credit cards can save you money through the smart use of rewards.

Here are some tips to maximize your credit use: 

• Set a wedding-specific credit limit. This is particularly important for those who may struggle to stick to a budget. Treat your card like a cash envelope.

• Use a 0% intro APR credit card. For things you need to finance over a long period, take advantage of a 0% intro APR (good credit required) so you can pay over time without incurring interest fees. Be sure you can pay off the balance before the promotional period expires.

• Leverage rewards strategically. Sign up for a card with a signup bonus you can easily achieve. You can then apply your cash back rewards toward your balance, or cash in on rewards points to book travel for your upcoming honeymoon. 

• Track spending by category. Many credit cards let you auto-categorize. This feature can help you spot overages before they spiral.

• Document a realistic schedule for paying off balances. Making a plan can help you stay on track and eliminate possible financial anxiety.

Weddings may be emotional, but credit decisions shouldn’t be. With smarter tools and planning, couples of any age can — and should — avoid starting a marriage under the weight of debt, and still have the day of their dreams.

This survey was conducted online among a nationally representative sample of 1,000 U.S. adults ages 18 and older who are credit card holders. Respondents were selected from a third-party research panel, and results were weighted to align with U.S. Census benchmarks for age, gender, region, and race/ethnicity.

The survey explored consumer experiences, payment behaviors, and attitudes related to wedding financing, with a particular focus on the use of credit cards to pay for wedding expenses. The overall margin of error is ±3.1 percentage points at the 95% confidence level.

Margins of error are higher for subgroups such as generation, race/ethnicity, gender, or marital status.

For media inquiries, please reach out to catherine@cardrates.com.