Wedding season is soon to be here! Starting in June and ending in September, the summer months are when most people tend to tie the knot, thanks to better weather and guests’ increased ability to take time off.
When it comes to weddings, just like everything else, high demand means high cost. As many know, the wedding venue is one of the most expensive aspects of a wedding, especially during peak months like May and June, with an average cost ranging from $6,500–$12,000 for the venue alone in 2024. That can really run up the tab on what is ideally the happiest day of your life. (For this reason alone—the cost of the venue—another expensive month for weddings is December, when weddings compete with holiday parties for the space.)
The planning it takes is no joke. There are many details to consider and forgetting even a few could lead to added stress when the bill arrives. Here are some of the other wedding expenses you could be facing:
- Wedding venue: $6,500-$12,000
- Catering: $6,500-$10,000
- Band or DJ: $2,000-$7000
- Wedding planner: $1,500–$4,750
- Photographer: $3,500–$6,500
- Videographer: $3,000–$6,000
- Flowers: $2,500–$6,000
- Transportation: $700–$1,200
- Cake: $600–$900
- Ceremony music: $500–$800
- Hair and makeup: $550–$850
In fact, a wedding will likely be the most expensive party you will ever host in your life.
In 2024, the average wedding cost $33,000, which was a $4,000 increase from the previous year’s national average.
Where You Can Cut Costs Without Cutting Corners
While things like flowers and invitations can add up, there are a few key factors that will determine your wedding’s cost more than the others. Here are some primary areas to focus on when cost is a major consideration.
Guests: The number of people who attend dramatically affects the cost of everything from food to alcohol to the venue. The more people you invite, the more expensive it will be.
Location: The cost of just about everything also varies depending on your location. From the food to the entertainment, if you want to save money, be strategic about where you choose to get married. Many venues are now offering tiered bundles or all-inclusive packages, which can help manage costs and make their location more appealing compared to others. Once again, volume and demand affect price—be sure to check the average cost per state before you decide where you will take your vows.
Timing: If you want to really save money, stay away from peak season all together. The least expensive months are January, February and March, at least in the parts of the country which experience cold weather and harsh winters—giving new meaning to the song lyric, “it’s a nice day for a white wedding.”
Plan Ahead: The best way to pay for all this is to have a financial plan in place.
Contact us if you need help with financial advice, including saving money to pay for a wedding or any other major life event! Contact your Park City Financial Advisors today!
Sources:
https://www.zola.com/expert-advice/whats-the-average-cost-of-a-wedding
