Should I elope?

Fiancé and I have decided we really rather just elope than spend thousands on a wedding day that will mainly be about entertaining others anyways.. However, his family is already so excited and sharing ideas/plans for a wedding & my family is doing the same.

I brought up the idea to my family and I am already getting guilted by being told I’m taking an opportunity away from them because everyone wants to see me get married, etc. I feel like we will hurt our families feelings but we really don’t want to have a wedding especially just for them.

PLEASE help! What do we do?