- The average cost of a wedding is around $28,000.
- Increasing guest list and venue costs contribute to the wedding expenses.
- High-end catering and customization add to the rising cost of weddings.
- Rings and food should be chosen carefully to make the wedding affordable.
- Budget-friendly planners can help reduce wedding costs.
Weddings are one of the most critical events in a person’s life. However, they are also one of the most expensive events. Over the years, the cost of weddings has increased, and people are spending more money on weddings than ever. Here’s a look into the cost of weddings today, reasons why weddings are so expensive, and tips on how to have an affordable wedding.
The Cost of Weddings Today
It’s estimated that there were nearly two million marriages in 2021 alone. On average, about 1.9 million Americans get married annually. It’s a joint ceremony that can be expensive if not managed properly.
Currently, the average cost of a wedding is around $28,000. It’s a big hit to the budget, especially for those already dealing with student loan debt and other expenses. Moreover, there is no ‘one size fits all’ cost of a wedding. It can range from as low as $5,000 to as high as $50,000 or more, depending on how much you decide to splurge on decorations, food, and more. But here are the main reasons why weddings tend to be expensive today.
Increasing Guest List
The wedding guest list is among the most significant contributors to the overall cost. With more people invited to the wedding, the budget will undoubtedly increase. Nowadays, weddings have become more of a social event where couples invite their family, friends, acquaintances, and colleagues. The social pressure of inviting more people has caused a significant rise in the overall cost of weddings.
Venue Costs
Wedding venues are expensive, and booking one for a wedding can significantly strain the couple’s budget. Many popular venues have high booking fees and additional costs for catering, decoration, and other services. Moreover, couples often require a specific location, which can increase the cost depending on the location’s demand.
High-End Catering
Gone are the days of simple buffets and standard catering menus. Nowadays, guests expect high-end catering that caters to their culinary preferences, making catering costs a significant contribution to a wedding’s overall cost. Moreover, couples often want to add a personal touch to their catering, which increases the cost of catering services.
Customization
People nowadays want to make their wedding a unique experience, which requires customization. Whether it’s the invitation cards, decoration, or seating arrangements, couples want everything tailored to their tastes. The need for customization has increased the overall cost of weddings.
The Rising Cost of Goods and Services
The cost of goods and services has increased steadily, and weddings are no exception. For example, the cost of flowers, food, photographs, music, and transportation for weddings has increased significantly over the years. Moreover, the cost of hiring professionals, like photographers and DJs, has also increased.
Tips to Make Your Wedding More Affordable
Now you know the expensive cost of every wedding, here are four tips to make it more affordable:
Rings
The rings you choose can significantly increase the cost of your future wedding. That’s why you must look into affordable diamond rings for your engagement. The right cost for your wedding engagement can drastically reduce your future wedding. As for wedding bands, you can opt for affordable materials like stainless steel, silver, or titanium.
Food
The cost of food can make up a large portion of your wedding budget. To save money on catering, consider having a potluck dinner instead of a sit-down meal. You could also opt for family-style dining or buffet-style service. Moreover, you can ask your venue if they offer any discounts for in-house catering services.
Guest List
Too many guests will significantly increase the wedding cost, so keep it to close family and friends only. Consider limiting the guest list to immediate family members and bridal party members only if you want to save on costs. This way, you won’t have to worry about inviting people you don’t know or can’t afford.
Wedding Planner
A wedding planner can help relieve stress and ensure everything goes smoothly on your big day. However, hiring a wedding planner doesn’t have to be expensive. Consider researching online to find budget-friendly planners offering lower-cost discounts or services.
Although weddings are expensive, with the right mindset and planning, you can control the cost and have a fantastic celebration. Remember to prioritize what matters most to you when planning your wedding and stick to a realistic budget to ensure your special day doesn’t break the bank!
