The investor and founder of O’Leary Ventures, who is known for his blunt takes on everything from remote work to Gen Z, has some characteristically frank advice for young couples: Save your wedding money.

“What’s the number one mistake that people make before they get married?” asked O’Leary in a video published Wednesday. “I’m talking about just before they get married, they plan a huge wedding. What a waste of money.” 

Instead, O’Leary said couples should think small for the sake of their future selves, opting for a civil ceremony and a party afterwards with just a small group of friends.

“Be very selective on who you invite. They got to be meaningful to you, and forget the big extravaganza,” he said.

O’Leary’s comments come as the price of a wedding in the U.S. has jumped to above $30,000. The average cost of an American wedding stood at $36,000 as of 2026, according to wedding planning platform Zola. This price tag includes renting a venue, the wedding dress, as well as flowers and photography. A separate Zola study of 11,500 couples from January found 84% also believe their wedding will cost more this year compared to two years ago because of the economy or tariffs.

Still, Zola’s head of brand Sammi Kobrin said when it comes to bringing family and friends together at their wedding, “the vast majority say it will be well worth the cost.” 

But when couples are dropping so much money on their weddings, and often going over budget, according to Zola, the strain has jumped not just for couples and their families—but also wedding guests, who are increasingly being asked to comply with demanding expectations related to the dress code and the gifts they receive.

In this context, O’Leary said couples should skip the stress and use the money they would have spent on their wedding for something big down the line.

“Instead of spending a lot of dough, you spend a small amount, take the difference and invest it in your mutual future, maybe a deposit on a house,” he said.

For couples looking to buy a home, skipping a wedding instead of resorting to a downpayment fund on their wedding registry, may make financial sense, even if it may not feel good emotionally. 

The average age of a first-time home buyer has risen to an all-time-high of 40 years old, which may be no surprise as the median sales price of an American home reached $405,000 in the last quarter of 2025, according to the Federal Reserve Bank of St. Louis. A person looking to put up the optimal 20% down payment on a median priced home would have to save $81,000 to avoid paying private mortgage insurance (PMI).

While the conventional 30-year mortgage rate has fallen to about 6% from a high of 8% in 2023, home prices have risen so much that more than half of six-figure earners say buying a house is out of reach.

Even after the wedding, O’Leary said a dream honeymoon should also be out of the question. Why take a luxury vacation, he asked, if the couple is still not established financially? 

“Once you actually stabilize and you get yourselves in order, then take a vacation,” he said. “But putting yourselves in massive amounts of debt just to get married is really stupid.”