Every person dreams of a stunning wedding, where they would make a grand entrance, invite hundreds of people, and organize the event at a secluded, romantic location. Alas, such a dream comes with a massive price tag, which is why most of us have to prioritize. So, how much should you spend on a wedding?
“A decent wedding in the US will cost you around 30,000 dollars,” according to Windows on the Lake, a Long Island wedding venue. However, depending on your wishes, this number can easily climb to $50,000 and even $100,000.
So, what’s the right figure? How can you create a wedding that will leave a lasting impression without looking cheap? In this article, we’ll break down different wedding costs and share a few tips for determining your budget.
What Does a Wedding Entail?
We can easily break down each wedding into several expense categories:
- Catering and venue (35% to 45% of expenses)
- Music (10%)
- Flowers and other décor (20%)
- Photography (10% to 15%)
- Attire (4%)
- Transportation (3%)
- Stationary (3%)
- Other costs (4%)
It’s worth noting that this breakdown shows the numbers for an average event in the US. If you’re looking to do something luxurious, the expenses for some of these categories will change drastically. For example, if you wish to fly everyone to Hawaii, the cost of transportation will quickly rise.
How to Decide on a Budget?
When planning a wedding, you should simultaneously plan the budget for the entire wedding and individual entries. Some people decide they want to spend $40,000, so they have to make compromises between these categories. For example, if you wish to have more decoration, you’ll likely have to cheap out on the food.
While we always recommend you should have the best event possible, we also don’t want to put a financial burden on your back. Getting into a massive debt just so you would have a luxurious wedding isn’t the way to do things. We suggest you take the time to discuss the expenses with your partner and consider the financial ramifications while at it.
First and foremost, you should approach it as any other financial expenditure. Stick to your predetermined budget and squeeze everything within these limits.
How to Track Spending?
Most people have trouble planning their budget as they don’t know how to track spending. However, you can easily address this issue by using a program such as Google Sheets. Create a row for each entry and introduce expenses as you go.
There’s one thing you have to be careful with though, and that’s the extras. Pay attention to various service fees, taxes, gas expenses and parking fees, marriage licenses, etc. Couples often forget to introduce these expenses and then, they’re flabbergasted by the amount of money they’ve spent during the process.
You also have to pay for extra fees your vendors will add during the process. For example, they might add charges for fancy drinks, cake-cutting, food and decoration delivery, and so on. Keep in mind these expenses are rarely included in the contract, so you’ll have to add them afterward.
How to Reduce Costs?
Although we love luxurious weddings, that doesn’t mean you shouldn’t be frugal. There are various methods that will help you save money, including:
- Replace experts whenever you can. For example, ask your friends to help you choose a venue, clothes, and makeup.
- Out-of-the-city venues usually charge less. Honestly, there’s no need to host a wedding in a fancy downtown hotel or restaurant when you have a much better experience in nature.
- The hardest part about weddings is reducing the guest list. At first, you feel compelled to invite as many people as possible. But as costs start to ramp up, you realize that shortening the list is the optimal choice.
- Find the optimal day for your wedding. Couples usually book sunny weekend days during spring and summer. Still, you can have every bit of a great experience during September or April.
- Don’t be scared to negotiate the prices. The majority of wedding-related are dependent on availability. So, if your vendor doesn’t have other clients at that time, they might give you a discount just to keep you.
- Also, take your time comparing available vendors and services. There are so many companies in the wedding business, and many of them offer low-budget options.
How Much to Spend?
As mentioned, an average American couple spends around $30,000 for their special day. Still, that doesn’t mean you should focus on this figure. Going overboard is completely justified, given the importance of this day. However, we wouldn’t recommend getting a massive loan to cover the costs.
So, spending between $40,000 and $50,000 will give you a much better wedding experience. For more than $60,000, you and your guests will be pampered by all service providers. Spending extra money will also reduce the stress related to wedding planning.
Keep in mind that these prices might go up or down depending on where you’re from and the availability of wedding-related vendors and venues.
