How To Budget For Your Wedding

Getting engaged is one of the most exciting parts of any couple’s life. However, it can also lead to a huge amount of stress. This is because weddings are huge events that require endless planning. Additionally, anything “wedding” related is extremely expensive. Whether it’s the photographer, the restaurant hosting the rehearsal dinner, or the flowers, adding the word “wedding” increases the price. These days, the cost of the average American wedding is upwards of $35,000. In order to help you best prepare for your dream wedding, we’ve put together some helpful tips to budget for your wedding.

How Large Is Your Guest List?

The biggest costs will your wedding will be dependent upon the size of the guest list. Large weddings require large venues, and these will be exponentially more expensive. Additionally, consider the location of your wedding. A rustic barn wedding venue will cost less than a destination wedding. Weddings in major cities like New York or Los Angeles will also be much more expensive than weddings in rural Arkansas. Also, large weddings mean massive catering bills. The average cost per plate at a wedding is $68, which means you should probably consider how much you want to invite your third cousin Jimmy. Finally, a big wedding reception wouldn’t be the same without alcohol, and an open bar will quickly rack up a high tab. Essentially, the larger the wedding, the bigger the bill.

wedding reception
It’s simple math: the larger the wedding, the bigger the bill.

Where Can I Save Money?

The list of places to save money when figuring out how to budget for your wedding is extensive. However, the smarter list is to figure out where NOT to skimp. Most married couples point to three places to splurge: the photographer, the wedding rings, and the wedding coordinator. Since the photographer will be the primary source of memories, it is important to have an exceptional documentation of your big day. The wedding coordinator will help prevent any mishaps and keep the day running smoothly even if there is a last minute catastrophe. Finally, the wedding rings are the ultimate representation of your marriage. While it may seem like a fun idea to get matching tattoos or picking up a wooden ring from the local farmer’s market, the smart move is to buy wedding rings online. Not only will you still save money over shopping at a mall jeweler, your gold or diamond wedding bands will last forever. When planning your wedding budget, definitely set aside money for wedding rings, a photographer, and a day of coordinator.

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