Understanding Wedding Financials

When you think about your wedding, you probably think about the fairytale aspect of it. How beautiful it will be, the fond memories you will create, etc. However, in order to get that dream filled wedding, you need to pay a lot of money. Probably more than you expect. According to a study done by The Knot in 2019, the average cost of the wedding process was roughly $33,900. This included the engagement ring, the reception, and the ceremony.

Understanding the Numbers

While $33,900 was the average, that doesn’t mean this number will be what you actually expect to pay. There are many ways that you can make your wedding priced way lower around the $10,000 range while still getting that wedding experience. You don’t need to sacrifice; you just need to adjust what your wedding will consist of. For example, instead of hiring private chefs to custom cook meals, you can hire a catering company that cooks in bulk. Instead of hiring a DJ, use a different method for music like a smartphone connected to speakers you rented. Overall, you have more control than you think when it comes to your wedding costs.

Ways to Lower Costs

There are numerous ways that you can lessen the blow to your budget when planning your wedding:

- Think about who you know. Your friend is a bartender? Then you can have them help at your wedding for a fraction of what a professional bartender would be. Have an artsy friend? See if they will help with decorations!

- Invitations can cost hundreds depending on how extravagant they are, how many you’ll send out, etc. Luckily, if you are willing to put the time in, then you can make them all yourself saving you lots.

- You should know how many people will be attending your wedding. The smaller the group, the more likely you will save. Also, you can pick venues based on this. You wouldn’t buy a more expensive venue that sits 65 people if you only invited 32. You also save money on everything that comes with the guests as you shorten the list. You don’t have to worry about their drinks, food, etc.

- Do you know when you want your wedding? Just like any other market, the wedding market has “on” seasons and “off” seasons. Many couples opt to schedule a summer wedding. This means that common “on” months are June and July. However, if you opt for an “off” season like winter and choose months like January or February then you may be able to save money. The same idea goes for the day your wedding is on. The busiest days are Friday and Saturday. That means if you choose a weekday, you will likely save!

Should You Compare?

Absolutely! When you compare prices of services, you not only get a better idea of what to expect, but you can save money as well. A good place to start is by asking people you know like friends and family to see if they have any recommendations. If not, then searching online will be your next bet. You can join groups on social media sites like Facebook to see if there are any recommendations from your community.

Overall

While weddings can be super pricey, there are actually ways that you can save money. You just need to make sure that you take the time necessary to figure out what you want and then what options would be best. Your big day can still be the day of your dreams without breaking the bank!