Previous | Six steps to protect yourself from identity theft Next | Is Mobile Banking Safe for My Business?
March 02, 2020 / Megan Edwards
How much a wedding really costs

How much a wedding really costs

Turns out that you can put a price tag on “I do.” And it’s a steep one — at least according to The Knot’s 2018 Real Weddings Study.

The national average cost of a wedding in the U.S. is $33,931, the digital wedding-planning company’s research shows. Keep in mind, that sum doesn’t include the amount of money couples spend on an engagement ring or the honeymoon. Of course, the price varies significantly and depends upon a wide array of factors, including location, timing, number of guests and style.

jar filled with coins and wedding sign on frontSo, where’s all that money going? Here’s the average breakdown for conventional wedding expenses, according to The Knot:

  • Ceremony venue: $2,382
  • Reception venue: $15,439
  • Rehearsal dinner: $1,298
  • Photographer: $2,679
  • Wedding dress: $1,631
  • Florist/décor: $2,411
  • Wedding cake: $528
  • Wedding planner: $2,002
  • Favors: $245
  • Invitations: $386

How can you manage the cost of your wedding?

If you’re looking to trim expenses as you plan your special day, here are some things to consider:

Head count: The Knot’s research indicates that couples host an average of 136 guests and spend an average of $258 per guest. At that rate, with just eight fewer guests, you could save over $2,000.

Timing: That June wedding comes with a price. Venues usually offer lower prices during the off-season, which falls during January and February.

Reception entertainment: The reception bank, according to The Knot, costs an average of $4,247. You can save thousands by skipping the live entertainment and opting for a DJ. Better yet, make your own playlist and plug your phone into a speaker.

Day of the week: Choose an off-peak day, like a Friday or Sunday, and save thousands on venue costs.

Limit alcohol choices: The Knot’s study found that the average couple spends $2,564 on alcohol for their wedding. Alleviate that expense by having a cash bar or opting for cheaper booze.

Bottom line

Don’t lose sight of the bigger picture as you plan your big day. Yes, you can make it special, but a wedding should not ruin you financially. Think about what comes after it, like purchasing a home, having children and, eventually, retiring.

Megan Edwards is compliance and security support specialist at F&M Trust

Recent Articles
Is Mobile Banking Safe for My Business?
Is Mobile Banking Safe for My Business?

Is Mobile Banking Safe for My Business?

September 30, 2022 / Cynthia E. Marconi

Grandparent Scams Can Cost Victims Thousands of Dollars
Grandparent Scams Can Cost Victims Thousands of Dollars

Grandparent Scams Can Cost Victims Thousands of Dollars

September 22, 2022 / F&M Trust

Passkeys and the Future of Estate Planning
Passkeys and the Future of Estate Planning

Passkeys and the Future of Estate Planning

September 15, 2022 / The Merrill Anderson Company

The biggest financial mistakes business owners make
The biggest financial mistakes business owners make

The biggest financial mistakes business owners make

September 08, 2022 / Rich Best

Green Practices are Good for Nature and for Business
Green Practices are Good for Nature and for Business

Green Practices are Good for Nature and for Business

September 01, 2022 / F&M Trust

Planned giving in 2023
Planned giving in 2023

Planned giving in 2023

August 25, 2022 / The Merrill Anderson Company

Student Loan Scams
Student Loan Scams

Student Loan Scams

August 18, 2022 / Ray Wills

Unconventional Ways to Fund a Small Business
Unconventional Ways to Fund a Small Business

Unconventional Ways to Fund a Small Business

August 11, 2022 / Arla Wallace

Fear of Missing Out is not a sound investment philosophy
Fear of Missing Out is not a sound investment philosophy

Fear of Missing Out is not a sound investment philosophy

August 04, 2022 / The Merrill Anderson Company

Join our e-newsletter

Sign up for our e-newsletter to get new content each month.

NOTICE: YOU ARE LEAVING F&M TRUST!

You are now leaving the F&M Trust website. Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security or accessibility standards as ours. F&M Trust neither endorses nor guarantees offerings of the third-party providers, nor is F&M Trust responsible for the security, content or availability of third-party sites, their partners or advertisers.