Takeaways
- The average wedding cost is approximately $35,000 in 2024, up from $33,000 in 2023.
- The average wedding cost should act as a guidepost when considering your budget.
- A wedding fund can steer your spending and assist with prioritizing your preferences.
- You can save money on your wedding by implementing tips and tricks to help cut costs.
- The biggest factors affecting wedding costs are location, vendor quality, guest size, and season.
Getting married is more than just the ceremony. It is all the accouterment surrounding the wedding.
The cost of the engagement ring, receptions, wedding ceremonies, wedding rings, afterparty, honeymoon, and other activities can add up quickly. Being prepared financially for your wedding can make the experience all that more enjoyable.
How Much Does a Wedding Cost?
According to a recent study by The Knot, the average wedding cost in 2024 is $35,000. That number is up over 6% from 2023 due to inflation and increased spending on catering and other ancillary items.
Most couples trying to reduce costs attempt to DYI on some items, but most hire vendors to help get through their wedding day and reception. Here is the average spending with different vendors:
| Category | Cost |
|---|---|
| Wedding Dress | $2,000 |
| Venue | $12,800 |
| Photographer | $2,900 |
| Grooms Attire | $330 |
| Catering Per Person | $85 |
| Cake | $540 |
| Hair and Makeup | $290 |
| DJ | $1,700 |
| Florist | $2,800 |
Source: The Knot [1]
And this isn’t even an exhaustive list of items couples can purchase. For example, you must save for an engagement ring before the wedding planning even starts. Families often celebrate an engagement with an engagement party, which can be a separate event. After the engagement comes the “save the date” cards and wedding planning. One strategy for keeping costs low is to have a small wedding. Another is to get officially married at the courthouse and enjoy a smaller celebration or party later.
How Much Should You Spend?
The amount you should spend on your wedding is a highly personal decision. A reasonable wedding budget will look different for every couple and should factor in your financial situation. This is where you and your spouse can start having authentic conversations about money and what you want your wedding to look like in the context of your broader finances.
Expensive weddings are outliers and bring up the average wedding costs for everyone. For example, a couple that spends $250,000 on their wedding will bring up the average wedding costs for everyone who spends $20,000. There are many variables when considering what to spend on your wedding, and there are weddings that fit every budget.
You don’t have to splurge on every facet of your wedding. You can control your spending by modulating what you invest in by selecting what is important to you and your spouse. If you both love live music, choosing a live band versus a DJ might be smart money move. However, this could mean cutting the flower budget. Using this pattern of tradeoffs can help you toggle to the right number.
What is a Wedding Fund?
Before you even meet that special someone, it might be smart to start thinking about starting a wedding fund. A wedding fund is a savings fund that you contribute to regularly to gradually build up a pile of cash for your big day. The average age of a couple getting married continues to increase, so if you start your wedding fund early, you can stash away some serious cash.
Personal finance experts suggest saving a couple of extra dollars into your wedding fund account each month. You could allocate as little as $50 to $100 per month if you have automated your finances. Over time, these funds will accumulate. You can make them grow faster by putting them in a high-yield online savings account, where your funds can earn interest.
5 Ways to Save Money on Your Wedding
You can spend as much money as you want on weddings. For the frugally minded, or those who enjoy creative ways to think about trimming costs, here are five ways to save money on your wedding:
1. Choose Vendors Carefully
Many wedding planners, venues, and caterers will have a preselected buffet of options for you to choose from. You don’t always have to select the most expensive option. For caterers, you can dial up and down the cost per person on your wedding day.
Seasoned vendors will likely have you come and try their food so you get a great sense of what will be at your wedding. Feeding your guests can be one of the highest costs in a wedding budget. Talk to your caterers and discuss options for reducing the cost per head and what that would mean if you gave up.
Vet several vendors to see which one you like best and which is willing to work with you the most on quality and costs. After talking to multiple caterers, you will know which one you want to work with. If you are a foodie, this could be the most critical part of the process.
2. Think About Alternative Days
The most popular of the weekdays to get married is on a Saturday. When competing with other couples for venue space, you will be paying top dollar to reserve a venue for Saturday. You can enjoy significant savings and discounts by adjusting your wedding day to a Friday or Sunday (or another day of the week).
Venues enjoy this because it allows them to book another day in their space and capitalize on off-peak times. You can also get this same benefit by avoiding holiday weekends or weekdays.
3. Scout for Out of Season
Many people want to get married when it is nice and sunny outside. Of course, that comes with a hefty price tag because other couples are vying for the same season to get married. If you and your future spouse agree, you could look toward non-peak seasons like January, February, or March.
Off-season weddings might even accelerate your savings because this is the traditional “slow season” for cake bakers, wedding coordinators, bands, and photographers. These vendors might be willing to also provide their services at a discount to their peak season prices to secure additional business.
4. Tailor the Guest List
The guest list is where the rubber meets the road. The guest list can balloon out of control, sending your budget into outer space. Having this discussion with your future spouse can be hard. It might require tradeoffs and conversation with your family and friends. It is good to set expectations here.
Trimming your guest list can save you thousands of dollars in food costs. Additionally, you might be able to secure a smaller venue space with a tailored guest list. For example, instead of a giant wedding hall, you might be able to rent out your favorite restaurant for the night.
2024 Average Wedding Cost by Guest Size
| Guests | Wedding Cost |
|---|---|
| 500+ | $54,500 |
| 200-300 | $42,751 |
| 150–200 | $41,286 |
| 100–150 | $33,957 |
| 75–100 | $24,769 |
| 50–75 | $20,581 |
| 30-50 | $18,768 |
| 10-30 | $17,048 |
| <10 | $11,667 |
Source: Zola [2]
5. Wedding Location
The cost of weddings varies significantly by state and metropolitan location. Let’s compare a wedding in New York City versus Houston, Texas. The average wedding in the Big Apple costs $63,000, while the same wedding in Houston is only $37,000.
Having your wedding in the city with a lower cost of living will pad your wedding budget and let you get more bang for your buck. This is where tradeoffs in your budget come into play. For example, if you don’t want to compromise on the number of guests at your wedding, maybe you switch the wedding to a cheaper location.
Remember to Negotiate
With so many items to think about during the wedding planning process, it is important to remember you can negotiate on pricing. Don't be afraid to ask for discounts with bulk orders, reduced pricing if you are using newer vendors, or get reduced pricing on substituted items.
Read More -> How to Negotiate the Raise You Deserve
For example, if you want a wedding planner and find someone trying to get their business off the ground. With less experienced planners, there is probably room to negotiate on price, services, and length of contract. To get the most in your wedding budget, there are many levers you can pull. By being respectful, kind, and firm, most vendors will want to do business with someone who is cost-conscious (because they are).
Smart Summary
All the events surrounding a wedding can be expensive. From the pre-wedding engagement, the wedding itself, and the post-wedding honeymoon, there are plenty of opportunities to plan your perfect wedding. Being mindful of your wedding budget will help you get your marriage finances started. Creating a wedding fund can make you feel even more comfortable on your big day. Your wedding should be about celebrating you and your spouse.
(1) The Knot. The Knot 2023 Real Wedding Study. Last Accessed March 28, 2024.
(2) The Knot. This is the Average Age of Marriage in the U.S. Last Accessed March 28, 2024.
(3) Zola. How Much Does the Average Wedding Cost? Full Breakdown. Last Accessed March 28, 2024.
