Remember, too, that with financial involvement comes some control over the wedding details. According to our study, most family contributors provide the couple with a set dollar amount regardless of the total cost of the wedding-and you'll want to know what that number is. While this may be a somewhat awkward conversation, it's an important one. If any loved ones are contributing to your wedding, it can be easy to simply say "thank you" and avoid asking the tough questions-like exactly how much they're able to spend on your big day. According to the Grow x WeddingWire study, 72% of couples receive some financial support when it comes to paying for their wedding, mostly from parents. While about one in four couples pay for their entire wedding themselves, for many couples, asking for financial support from family is common ( here's the traditional "who pays for what" breakdown, if you're interested). Decide who's paying-and start an open dialogue.
WEDDING BUDGET PRO
From wedding venues to officiants, wedding planners to caterers, photographers, florists, and more, each vendor has an important role to play, and you'll want to know what each pro costs so you can more accurately set your budget. According to the Grow x WeddingWire study, 75% of couples set a budget before conducting any research on the cost of vendors-a trap that's easy to fall into. That means knowing the average price for each wedding vendor you're planning on hiring. Yes, coming up with that total dollar amount you have to spend is essential, but you'll also need to be able to divide it up to pay for each wedding product or service. While we always recommend couples set their wedding budget early in the planning process, many couples are taking this step too early. Research wedding vendors before budgeting.
WEDDING BUDGET HOW TO
Here's how to get started: Find out how much a wedding costs in your area.įor some reason, people feel uncomfortable talking about how much a wedding costs-but it shouldn't be taboo! According to the Grow x WeddingWire study, more than half of respondents had no idea about a wedding's actual price tag early on in their planning process, which makes setting a budget a nearly impossible task! We know it may be uncomfortable to talk to friends and family members about wedding expenses, so there are online resources that can help: WeddingWire's Cost Guide provides the average cost of a wedding in your location so you can set a realistic budget and avoid sticker shock as you start incurring those expenses. So how can you avoid spending more than you initially intended? Your goal should be to create an accurate budget upfront, rather than simply guess how much a wedding costs and risk overspending. And that includes your wedding party members-each bridesmaid, groomsman, groomslady, or bridesman will incur expenses such as bouquets, boutonnieres, gifts, and more-and those certainly can add up! How can we create a realistic wedding budget?įor newly engaged couples, 44% say figuring out and/or managing their budget has been the most challenging part of planning so far. If saving money is important to you, your best bet is to plan a small wedding. The more people you invite, the more you'll spend on your wedding ceremony and reception. In particular, if you tie the knot in a major metropolitan area-New York City, for example-you'll likely pay closer to $50k! Destination weddings tend to cost slightly more than hometown events, especially when you factor in travel costs.Īnother important factor in your wedding's cost is your guest list. And remember, that the $30,000 figure is only an average and weddings in your chosen location may cost more or less than this figure. is closer to $30,000-which is a pretty big discrepancy. Seems like a reasonable amount, right? Well, it turns out that the average cost of a wedding in the U.S. On average, a couple sets aside about $22,500 for their wedding. what you think you'll spend) and what couples should realistically expect to spend-and how to avoid this discrepancy during your own planning process. We're here to break down the difference between an average wedding budget (a.k.a.
In fact, according to the new Behind the Wedding Budget study from WeddingWire and Grow by Acorns + CNBC, 68% of couples admit that their initial wedding budget was set lower than what it realistically should have been.
It turns out that there's quite a discrepancy between how much couples plan to spend on their wedding (the average wedding budget) vs. One of the first questions you'll likely ask as you start to plan your big day is, "Okay, so how much does a wedding cost?" Well, it's complicated.
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