Jajakallah khair.
Ref. No. 1095/42-277
In the name of Allah the most Gracious the most Merciful
The answer to your question is as follows:
One can spend according to their ability and status. It is reprehensible to spend too much amount on loans only for the sake of fame. However, due to the high expenditure of a few people, this thing becomes common in the society, and people look at these arrangements in every marriage, and if one cannot manage due to lack of means, it would be a disgrace in the society. And then people are forced to go under debt and manage according to society. So spending the least is convenient to all types of people. The marriage conducted with simplicity is source of more blessings.
And Allah knows best
Darul Ifta
Darul Uloom Waqf Deoband