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Many people dream about their wedding day from a young age, but they might not be expecting the heft price tag that comes with an extravagant affair. If you’re starting the planning process, it’s important to be aware of the average cost of a wedding, as the costs can add up quickly.
Once you have a budget in mind, you can begin to discuss where you want to splurge and what might need to get cut. Here is a breakdown of the average cost of a wedding to help guide you through those decisions.
Common Wedding Expenses
Weddings consist of many expenses that add up fairly quickly. A budget is vital to track your spending and allocate funds where you want them the most. The average estimated cost of weddings in 2023 is $30,000, just a bit higher than last year.
Average Cost of Wedding Vendors
Some common expenses you’ll encounter during wedding planning include venue, food and drinks, photography, wedding attire, decor, flowers, cake and your officiant. Costs can vary based on many factors, such as the venue you choose and the number of guests you invite. There are numerous ways to save money during the planning process if you invest enough time and research to minimize your spending.
Vendors play a vital role in a wedding’s success. They ensure your big day goes off without a hitch and include planners, caterers and DJs. On average, in 2021, couples used 14 vendors for their weddings. Here are some average costs of vendors that you can expect when planning your ceremony.
- Average cost of engagement ring: $3,756
- Average cost of hair: $100-$350
- Average cost of makeup: $100-$150
- Average cost of reception DJ: $1,200
- Average cost of flowers: $2,300
- Average cost of venue: $10,700
- Average cost of wedding planner: $2,000- $10,000
- Average cost of decorations: $2,000-$10,000
- Average cost of cake: $500
- Average cost of wedding dress alterations: $50-$1,000
- Average cost of open bar: $15-$50 per guest
You can use these averages to compare costs and get a general idea of what you’ll need to plan your wedding. Remember that these are average expenses, and you can reduce them by getting creative and choosing what works best for you.
The Rising Costs of Weddings
The cost of weddings has significantly increased due to inflation, as almost everything has gone up in price, causing vendors to charge more for their services. They charge more when they have to pay higher fees for their products. Budgets are doubling, causing couples to cut expenses significantly and limit guests to compensate for increased costs.
It’s understandable, yet it can put a damper on your budget. Ensure you maximize your spending by orchestrating ways to cut costs in every area you can. You can utilize credit cards, request cash on your wedding registry or start a honeymoon fund.
Planning Your Wedding
You can opt for digital invitations, have a potluck, or elope and throw an after-party to cut the cost of your wedding. Your dream day should be about sharing your love, but it doesn’t have to break the bank.
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