- Every woman’s dreams of Weddings often cost more than anticipated, with average expenses reaching around $30,000 in America.
- Major cost contributors include the dress, accessories, venue, decor, entertainment, and invitations.
- Hidden costs can also inflate the budget, such as vendor and planner fees, which can be substantial.
- Savings can be made by utilizing unconventional venues, creating DIY decorations, and limiting the guest list.
- Reducing alcohol served and offering a signature cocktail can significantly cut beverage expenses.
A perfect wedding day – the perfect dress, venue, flowers, catering, and all the other perfect little details that will make the ceremony of your dreams come true. However, what most of us don’t realize is that weddings can be quite expensive, more expensive than we anticipated. Between the dress, the venue, the decor, the entertainment, the food, and the drinks, the cost can easily spiral out of control, leaving you bankrupt or in debt that lasts for years.
The Average Cost of Weddings
It’s estimated that people spend about $30,000 on average on their wedding. It’s quite expensive, considering Americans only own about $50,000 assets on average. The costs can be much higher depending on the details. For example, adding a destination wedding to your ceremony will likely cost you an extra $2,000 to $5,000 for travel and accommodations alone. Here are some reasons your wedding is going to cost you your savings.
1. Dress and Accessories
The dress is the most important and memorable element of a wedding, and every bride wants to look her best on that special day. However, designer wedding dresses can cost upward of $5,000, a significant expense that can blow your budget. Also, don’t forget the cost of accessories such as shoes, jewelry, and a veil. The cost of these items can add up quickly and be an unexpected cost you didn’t budget for.
2. Venue and Decor
The wedding venue is one of the most important aspects to consider when planning a wedding, but it’s also one of the most expensive. Between the venue rental, the catering, and the decor, you could easily spend your entire budget on the location. Wedding decor, flowers, and lighting can add up quickly.
Another aspect of a wedding that can add up quickly is entertainment. Hiring a band or DJ is quite popular but can be costly. It’s not just the cost of the entertainment but also any additional equipment rentals or sound system setup. You may also provide photo booths, games, or other activities to entertain your guests, which can add cost.
4. Invitations and Wedding Favors
Wedding invitations and favors are the little details often overlooked in the wedding budget. These little details can add up quickly, especially if you choose fine stationery or an expensive gift. Moreover, the shipping cost for those invitations may be a hidden cost you can’t avoid if you have out-of-town guests.
5. Hidden Costs of Planning
One of the most significant hidden costs of wedding planning is the cost of vendors and planners. Hiring a photographer or videographer can be very expensive, particularly if you want the best quality you can afford. Also, hiring a wedding planner to help you with your wedding planning can cost you anything from $1,500 to $10,000!
Ways to Save Money on Your Wedding
Thankfully, there are ways you can save on your wedding. Here are four ways to do that:
First, you should look for an unconventional venue. A good choice is to look for local corporate event venues. These venues are often much more affordable than traditional wedding venues. Moreover, many of these venues offer all-inclusive packages that include decorations, catering, and other special touches at a discounted price.
Do-it-yourself decorations can also be a great way to save money on your wedding. Look for stores that sell items in bulk and buy items such as candles, flowers, and tablecloths in bulk. You can also make your decorations with supplies from a craft store.
Another way to save money on your wedding is to reduce the size of your guest list. A smaller guest list means fewer people to feed and fewer invitations to send out. Consider inviting only close family and friends to your wedding or skipping them altogether.
Finally, you can save money on your wedding by limiting the alcohol. This limits your beverages expenses while allowing people to enjoy a few drinks. Consider offering a signature cocktail or two at the bar instead of an open bar. You may also want to consider offering a variety of non-alcoholic drinks for those who don’t drink alcohol.
Weddings can be expensive, but there are ways to reduce costs and still have the perfect wedding day. By reducing your guest list and limiting alcohol costs, you can save money on your wedding and still have the dream wedding of your dreams. Remember to think outside the box regarding venues and decorations, and you can create a beautiful wedding day without breaking the bank!