31 Aug 2017   /   0 comments

How Much Does a Wedding Cost?

Paul

pexels-photo-302051Planning your big day but don’t know what to expect for your budget? TFC wants to help answer the big question: how much does a wedding cost?

The Overall Wedding Cost

The most recent average reported for the cost of a wedding was $32,641 and rising. In 2015, couples paid 4.6% more than they did in 2014. Some cultures have big, extravagant weddings that have given Americans inspiration in their own traditional weddings. From extravagant flowers to a glittering dress, people spend a lot more than just $32,641.

Places like New York, Chicago, and New Jersey come out to be the most expensive places to wed. In New York, they spend the most amount of money for their weddings. The average amount reported for Manhattan was $78,464!

So, where can you save and where should you pull some of your money out? Here’s a breakdown of the wedding expenses.

The Wedding Dress

Luckily for the groom, he only spends an average of $280 on the tux and accessories. For women, they can be used to seeing shows from TLC that demonstrate some of the biggest dress budgets.

In 2016, her dress was reported to cost an average of $1,564 which is more than 2015 which was $1,469. Every girl dreams of being a princess on her wedding day, and the dress is the biggest influence.

The Venue

The venue is the biggest chunk in the wedding budget. For a reception hall, couples spend an average of $16,107 on the hall. The year before it was only $14,788. While that’s still not a cheap price, that’s $2,000 less than the current average. Wedding sites for the ceremony can cost $2,197 (2016).

The Wedding Planner

It’s not uncommon for people to hire a wedding planner. The median salary for a wedding planner is around $46,490, but luckily for the bride and groom that’s not from just their wedding. A couple should plan to pay $2,037 for a planner (2016).

Invitations

The more people you invite, the more invitations you have to order or make. Some people send out double invitations: a “save the date” and then the invitation regarding RSVP and the location of the wedding. Wedding invitations can cost $462 which is an increase from $445 in 2015.

The Rings

Women usually enjoy picking out their ring, while others believe their soon-to-be-husband knows them well enough. Grooms spend an average of $6,163 on engagement rings alone. The band for the bride tends to cost an average of $5,968 to $6,258 in 2015. In 2013, the grooms only spent between $389 to $547 for their bands.

A Wedding Cake

Yes, the item that you wind up smashing on each other’s faces. Maybe you want to incorporate your color scheme or make it glow. In 2016, a wedding cake cost about $582 for a couple.

The Music

A DJ can cost an average of $1,145 for the night. If you want a full band at your reception, that can cost $4,156 according to a report in 2016. For an additional musician at your ceremony, that’s another $755.

Wedding Flowers

Between the bouquets, the corsages, the isle decorations, the table decorations, and wherever else you can stick a flower, the flowers are the most forgotten expense for the bride and groom. All around, flowers can cost an average of $2,534.

Photography

While allowing your guests to capture the moment on their phones and cameras is a unique experience, you still want a beautiful portrait of the wedding party, the first dance, the first kiss. A photographer can cost $2,783 while to record the whole wedding could cost $1,995 on top of the pictures.

8 Tips to Save Money

To save you money without making your wedding look cheap, here are 8 tips where you can adjust the budget:

  • Cut some guests

While you may want to include all your family, including Great Aunt Suzie who married your Great Uncle twice removed, the number of guests influences your space, food choice, drinks, cake size, invitations, and more. It could cost you about $204 per guest.

  • Think outside the box

If you don’t have a sentimental season or date, trying to avoid popular days and seasons could save you money.

  • Compare options

There are places that offer almost new dresses, cancelled wedding items, and places where you can sell back the things you use for your wedding.

  • Stay in season

Since flowers can cost a good chunk of money, staying in season with flowers will save you. Trying to look exotic or stand out could mean a couple hundred dollars.

  • DIY

Even if you’re not that crafty, there are ways you can do things yourself and save money. You can print your own table cards, invitations, or create your own decorations (for the craftier folk).

  • Relocate the reception

Depending on the season of your wedding, consider holding an outside reception. If you’re concerned about weather problems, even restaurants or parks are able to host a reception.

  • Casual food

Keep the food casual and maybe even fun. Sometimes people get caught up in the wedding that, when they realize they’re hungry, they barely taste the food since they’re eating so fast. If you have an ethnic preference, maybe offer two or three of your favorite dishes.

  • Focus on your day

Remember why you’re having your wedding and focus on the moment. If you have a fun atmosphere and love is in the air, it doesn’t matter how many decorations you have.

TFC can make your dreams come true

If you have an unexpected expense for your wedding or really want your dream to come true, consider getting an auto title loan with TFC. You can get your cash in as little as one business day and even take advantage of our loan term benefits. From funds between $2,500 to $50,000, you can make your wedding the biggest your friends and family have seen! Give us a call today!

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