While everybody may know that weddings can quickly become costly, a lot of people don’t realize how expensive they can be until they’re the ones getting married. Then, they realize just how much they’ll have to put down for the wedding of their dreams.
Weddings have quickly gone up in price as more and more people look to splurge on their big day. However, there are ways to save when getting married.
How Much People Spend on Weddings
In 2023, the average cost of a wedding was $35,000 — a $5,000 increase from 2022’s stat. As many people want to have a wedding they will always remember, they’re willing to pay this amount.
Of course, there aren’t a lot of people who can easily just splurge on a $35,000 wedding. Many have to save up, use credit, or take out a loan to pay for this large sum. Looking at where this $35,000 goes — and what it pays for — can help many understand why weddings cost so much.
Paying for a Venue
For the most part, paying for a venue is where the bulk of the wedding money goes. On average, $11,200 is dedicated to people’s venues, alone.
As the venue is where the entire wedding will take place, this makes sense. People often want to splurge in this area, as they want to wed in a place they like.
The Cost of Live Music
Once you have the venue secured, you might want to invest in ensuring you have some music for the actual ceremony. Some prefer hiring a live band, while others may be fine with a disc jockey to play music. Regardless, both options cost a pretty penny.
On average, a live band will charge about $3,900 to play at a wedding. Meanwhile, a disc jockey costs about $1,500.
Hiring a Photographer
A photographer is essential, as you’re going to want pictures of your big day. However, hiring a qualified photographer can quickly become pricey. The median cost of a wedding photographer in 2023 was $2,600.
Do you want a videographer for your wedding as well? That will cost extra — to the tune of another $2,100 payment.
Finding the Perfect Wedding Dress
Of course, one of the first things many brides-to-be do after getting engaged is begin their search for the perfect wedding dress. This quest can take weeks, if not months. One’s ideal dress can also be quite expensive.
According to recent stats, a wedding dress can cost about $1,900 on average. Obviously, this price can vary, depending on each individual bride.
Investing in an Engagement Ring
An engagement ring is the second most expensive purchase in a wedding, behind the venue. Some don’t include the price of a ring in wedding costs. However, it’s important to be aware of this extra price — as it can be costly.
The median cost of an engagement ring is $5,800. However, many rings can cost double that and reach to upwards of $10,000.
Hiring a Florist
As no wedding is complete without a good amount of flowers, hiring a florist is also necessary. The total price of a florist may vary, depending on how many flowers you order. On average, hiring a florist costs about $2,400.
If your order contains quite complex flower arrangements, this price will likely rise. A higher price may also occur if your order has a lot of stems.
Organizing a Rehearsal Dinner
Before the big day, the families who are part of the wedding traditionally hold a rehearsal dinner. Everybody gathers around and eats a nice meal as they prepare for the union of these two families.
While a rehearsal dinner is always a nice touch to the wedding festivities, it’s also often very expensive. For the most part, rehearsal dinners cost about $2,400. Depending on the location, this price can greatly rise.
The Cost of a Wedding Changes by Location
While all of these little factors and payments go into the total cost of a wedding, you still have one major thing to think about if you’re getting married: location.
It can be more expensive in certain states in America to get married. For example, New Jersey remains one of the most costly states to wed at $44,000. Utah, meanwhile, is cheaper at $18,000. If you’re throwing a destination wedding, you’ll likely spend more than $35,000.
How to Save When You’re Getting Married
When you’re planning your wedding and looking at all these costs, it can feel difficult to understand where to save money. However, it can be done. Many people get married in cheap or free venues — such as their own backyard — to save money. If you don’t want to cut costs at your venue, find other areas to do so.
For example, buying a vintage wedding dress can help you save money in one area. Using a small amount of flowers strategically instead of a massive amount could also help.
Why You Should Think About Debt
As you organize your wedding, take the time to think about your financial situation. If you’re thinking about taking out a loan to cover this wedding, consider whether this is the best option.
It’s never great to start a marriage in debt. If you have a good financial situation, as well as some savings, you might feel more inclined to take out this loan and feel assured you’ll pay it off quickly. As everyone is in a different financial situation, it’s important to understand what’s best for you and your spouse.
