What does the Wedding vs Life Goals Tradeoff Calculator do?

It estimates what a wedding budget could accomplish if redirected toward goals like a home down payment, emergency savings, debt payoff, retirement investing, travel, or a small business fund. Results are educational estimates based on your inputs and assumptions.

Does the calculator tell me whether I should have a wedding?

No. It’s not advice and it doesn’t judge the choice. It simply shows tradeoffs so you can decide what fits your values and timeline.

How does the calculator estimate compounding growth?

It applies a monthly-compounded growth estimate using your expected annual return and an optional inflation rate. The calculator uses net return (return minus inflation) as a planning assumption.

Does the debt payoff estimate include interest?

No. The debt payoff section is a simplified planning estimate that ignores interest and fees. It estimates months saved based on your balance and current payment.

Can I compare multiple goals at once?

Yes. Select any combination of goals and the calculator will show estimated outcomes for each one so you can explore different mixes.

Is this calculator financial or investment advice?

No. It is for educational planning only. Outcomes are estimates and depend on assumptions and personal circumstances.

What’s a practical way to use this with a partner?

Run a few scenarios: a smaller wedding, a mid-range wedding, and your ‘dream’ wedding. Compare the tradeoffs against your top one or two goals, then pick a balanced option that feels sustainable.

What if we want both a wedding and life goals progress?

A common approach is to choose a meaningful but smaller wedding and redirect the remaining budget to a priority goal such as an emergency fund or down payment—so you get both memories and momentum.

Where can I find more planning tools?

RetireCoast includes more budgeting and planning tools in the Calculators Hub. Use those to map monthly cash flow, savings targets, and debt payoff timelines.

Wedding vs Life Goals Tradeoff Calculator (Wedding Budget vs Down Payment, Debt & Savings)

Q: How is family contribution handled?

Family contribution reduces out-of-pocket cost for the couple. The calculator still shows opportunity cost of the total wedding spend separately through the tradeoff framing.

Wedding vs. Life Goals Tradeoff Calculator

Compare a wedding budget against practical goals like a down payment, emergency fund, debt payoff, retirement savings, and travel. Estimates only—use this as a planning tool, not financial advice.

Tone:

Friendly context

Weddings can be meaningful—and expensive. This tool helps you see tradeoffs without guilt: spend intentionally, and still protect your future goals.

Inputs

Wedding budget

Estimated total wedding cost ($) Family contribution ($) This reduces out-of-pocket cost (but the calculator still shows opportunity cost of total spending).

Your finances (planning assumptions)

Monthly surplus available to allocate ($) Expected annual return (%) Inflation (%) (optional) Comparison horizon

Life goals to compare (check any)

Home down payment Defaults: $20,000 target (editable below). Emergency fund Defaults: 3 months of expenses at $3,000/mo. Debt payoff Estimate months saved based on your payment. Retirement investing Shows projected value at horizon (compounding). Travel / experiences Estimate number of trips based on your avg trip cost. Start a business / side hustle Shows runway months at your planned burn rate.

Home down payment target ($) Monthly expenses ($) (for emergency fund) Debt balance ($) Current monthly debt payment ($) Average trip cost ($) Business burn rate ($/mo)

Results

This shows what the wedding budget could accomplish if redirected to selected goals—plus a compounding estimate over your chosen time horizon.

Estimates only

Out-of-pocket cost

$—

Total wedding cost minus family contribution.

Monthly equivalent

$—

Out-of-pocket spread over 12 months.

Compounded value at horizon

$—

Uses your return minus inflation.

Goal outcomes (if redirected)

Values check (optional)

Which option aligns more with your 2–5 year plan?
Would a smaller wedding + partial goal funding feel like the best of both?
If family is contributing, do you want their gift to support a wedding, a home, or a mix?

Disclaimer: This calculator is for educational planning only and does not provide financial, legal, or investment advice. Results are estimates and depend on assumptions and personal circumstances.

Helpful tools for this step

Calculators Hub

More Millennial planning help from RetireCoast

RetireCoast has created an entire Millennial Hub and our Calculator Hub. You’ll find articles and tools that support budgeting, planning, and tradeoff decisions—so you can build a plan that fits your life.

Visit the Millennial Hub Browse the Calculator Hub Try the Millennial Budget Calculator

If you want to build a wedding budget from the ground up, try our free Millennial Budget Calculator. It can help you map an entire household budget—including wedding costs—so you can decide what’s comfortable before you commit.

External reference for wedding budgeting

For additional wedding budget ideas and ways to save, this guide is a helpful reference: Wedding budget tips & savings ideas (The Knot).

Note: External links are provided for convenience. RetireCoast does not control third-party content.

Wedding vs. Life Goals Tradeoff Calculator

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