Cash, the wedding gift everyone wants but no one wants to give. But why?

Wedding gifts have evolved because the world has changed. Our newlyweds no longer desire a new blender or the fancy China plate, what they really need is cash.

In the year 2022, Americans are getting married much later in life and are in a completely different state of life than their parents and grandparents before them. Since 1970, the median age for brides increased from 21 to 28, and for grooms 23 to 30.5 and it continues to climb  (source). These couples have already long replaced their college IKEA furniture. 

To add to this trend, the cost of living and debt.

• Need to pay for your wedding? By 2016, on average, parents paid for 57 percent of the wedding and the rest is covered by the couple. Since people are getting married later, they have established careers, and put up their own money to host the event (source).

• Want to pay off student loans? Almost one-third of all Americans under 30 live with student loan debt, totaling a whopping 1.5 trillion dollars (source). 

• Looking to own a home? The average home cost in 1970 was $17,000, adjusted for inflation that total would be $65,600 today. But guess what? The median cost for a house today is $199,200 (source).

It’s a harsh reality but not to be confused with a negative sentiment toward wedding celebrations or thoughtful gift giving. In fact, 2022 is on track for a record number of weddings at 2.5 million, with pent up demand from 2019 and 2020 (source). And couples more than ever want personal, thoughtful gifts . That’s why Memento is here, to shift the mindset from cash as tacky to an extremely generous, meaningful gift.

Recent studies show that almost 80% of couples receive money through a wedding gift platform. And with Memento, 40% of all personal-cash gifts sent are for a wedding celebration. Find out more on how to send a Memento cash gift for the special occasion on our wedding gifts page or how to set up a Memento wedding registry on your wedding website.