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Ways to Shrink Your Wedding Budget

Posted by Tina Wexler on

74% of couples said they plan to take on debt in order to pay for their wedding

To start your marriage off right, here are some tips on saving money for a wedding -- and honeymoon.

Start by taking a close look at the potential costs of various wedding expenses so you can get an idea of what your desired wedding will cost. The total is likely to be greater than you expect, so we'll also review a bunch of ways to cut those costs without sacrificing the fun or elegance of the occasion.

What a wedding costs -- from dress to caterers to the venue

Though estimates vary, the cost of an average wedding is well into the five figures. The website costofwedding.com pegs the national average at $25,764, while The Knot reports an average of $33,391. The Knot also says the typical wedding includes 100 to 150 guests.

You can use various online tools to get an idea of what your desired wedding will cost. One option is the handy online cost estimator from costofwedding.com. 

Where you live or get married will have a significant effect on the cost of your wedding and is considered when using the cost estimator from costofwedding.com. 

Consider unexpected costs when saving for your wedding

Keep in mind that no matter how well you plan and budget for your wedding, there will likely be some unexpected expenses you didn't think of. Here are some costs that sometimes sneak up on the bride and groom to be:

  • Marriage license
  • Save-the-date cards
  • Postage
  • Wedding gown alterations
  • A dance floor for your rented tent
  • Meals for the people working your wedding
  • Gifts and favors for guests and participants
  • Tips for service providers such as caterers
  • Overtime costs (e.g., if you have your band or photographer work longer than planned)

Read additional posts from Best Wedding Stuff

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Link to complete information/article originally posted by Selena Maranjian for The Motley Fool on 6/13/18:  https://www.fool.com/retirement/2018/06/13/heres-how-much-the-average-wedding-costs-though-yo.aspx

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