The Truth Behind Average Wedding Costs

Ready for the truth behind average wedding costs? So am I!

I recently listed to a podcast, Smart Money Happy Hour (shoutout, Rachel and George!), and they were discussing the costs of weddings. Now, there was a consensus in the podcast that weddings can be expensive. Of course, they can. We all know this. But what does that really mean? Money isn’t created equally. A dollar for me isn’t the same as a dollar for you, so to speak. So, let’s talk actual numbers.

To caveat this post, I’m going off what the podcast shared as the average cost of many wedding items. This is not the be all, end all price. Prices depend on vendors, location, service, and product. There is a huge range, and the average is not necessarily the most common or most expected amount. It’s just something to explore as a discussion point.

This post is going to share with you the truth behind average wedding costs, as shared on a podcast episode of Smart Money Happy Hour. In the podcast, they quote that according to The Knot, there was about 2.24 million weddings in the US in 2023. This is 62% more than in 2020. The average costs of these weddings was about $29K for local weddings to $35.6K for destination weddings, with lots of variables in between. The full details can be found here, in this article.

Let’s get into it!

AVERAGE COSTS BEFORE THE ENGAGEMENT

Before we talk about average wedding costs, let’s go over some average costs before the engagement even starts.

ENGAGEMENT RINGS: AVERAGE COST – $5.8K

Let’s start with the thing that kicks it all off, the engagement ring.

Apparently, the average cost of engagement rings is about $6K. The old-time standard is that those who are proposing should plan to spend three months salary on a ring. However, the podcasters agreed that it should be more like one month’s salary, or less. I agree with them, too. It seems a bit wild to spend a quarter of your yearly earnings on jewelry, doesn’t it? Factor in that diamond rings don’t really hold their value, and it makes the case to spend less even stronger.

By the way, if you want to save on an engagement ring, consider a lab grown diamond. Learn about the pros and cons in this post.

BIG PROPOSALS – AVERAGE COST – $500 TO $2K

Did you know that 19% of all proposals happen in December? And that Christmas is the most popular day to get engaged? I didn’t until I listed to the podcast, but I’m not surprised at all.

The truth is, proposals don’t have to be expensive. Some of the sweetest proposals are quite simple. They are private. They aren’t captured on camera, or made a big deal out of. However, it can be quite tempting for some people to spend big bucks on proposing. This may be to make a big grand gesture, with photographers, flowers, and expensive settings, or to create some sort of social media moment.

While there’s no average cost given for proposals, I’d venture to assume the average is about $500 to $2000, or more, if the proposal is done while on vacation. Remember, if you’re strapped for cash, it doesn’t have to be a big show. A simple evening with your potential fiancé is all you need for romance and a great memory.

ENGAGEMENT PHOTOS – $2.5K

One big pre-wedding expense no one seems to talk about is engagement photos.

Now, of course, this is an optional expense. You don’t have to have engagement photos taken (though, if you’re thinking about them, this is a great post about why you should get them done). However, a lot of couples have engagement photos taken, and the costs can add up. As the podcasters state, the costs can be upwards of $2,500 if you’re not careful.

Just so we’re clear, the costs of engagement photos aren’t just for the photos themselves, from a professional photographer. There are outfits for the photos. Possible hair and makeup. Travel. It’s a whole thing.

My advice? If you want to save money on engagement photos, hire a wedding photographer who does them as part of their package. And have them taken close to where you live. Don’t worry about fancy outfits or professional makeup. Be natural. Save money.

AFTER THE ENGAGEMENT / BEFORE THE WEDDING

Okay, let’s talk about the events leading up to the actual wedding.

The bachelorette parties. Bachelor parties. Showers. Rehearsals. They can all add up. The key here is to be intentional. If you want a big bachelorette party, that’s awesome. But don’t lose site of how much the wedding costs. You have to factor all events, even if they are months apart.

BACHELORETTE / BACHELOR PARTIES – $1K

Bachelorette and bachelor parties have evolved over the years.

Gone are the days of a simple (or wild) night out with your friends. Many friend groups are opting to travel for these events and make a whole weekend out of it. Chock it up to getting married later in life, or trying to keep up with your friends, but the whole event can be an investment. In fact, the average cost for each person is roughly $1000 when travel is involved.

Let’s break it down. There may be air fare. Hotels or accommodations. Drinks. Food. Outfits. Entertainment. And so on, and so on. It adds up. And look, if you and your invitees have the cash, that’s great. If not, you may want to do something more low-key, as outlined in this post.

BRIDAL SHOWERS / REHEARSAL DINNERS – AS MUCH AS $2,400

Lumping bridal showers and rehearsal dinners here together. Both are events before the wedding, and both can add up.

The Knot doesn’t give an average cost of bridal showers, but we all know they can be pricey. Not just for the bride, but for those who are throwing her the shower. Food is often the biggest expense, so if you are hosting a shower and want to save costs, consider low cost food options or host at home. The costs of restaurants or venues can add up very fast.

Speaking of restaurants, The Knot claims that the average cost of a rehearsal dinner is about $2,400. And honestly, I’m not surprised. Many rehearsal dinners include the full bridal party, close family, out of town guests, and dates. Add in dinner and some drinks, plus tax and tip, and the bill can be hefty.

Remember, if you want to save on either of these events, keep them simple. Do some self-hosting. Serve take out food. The key is to all be together and celebrate, not to spend a ton of money.

THE ACTUAL WEDDING

On to the actual wedding. Oh my. This is where the average costs of $30,000 per wedding comes in, give or take.

Remember, the number one way to save money on your wedding is to keep the guest list as low as possible. Variable costs (such as food and rentals) can add up with every additional head. Less guests, less costs. Less space, and less chaos. That said, let’s talk about the costs associated with a “normal” sized wedding of 117 people or so (side note – this was the exact number of people who were at our wedding in 2017. So random!).

MAJOR WEDDING EXPENSES – $25K (OR MORE)

Major wedding expenses are the biggies. The common ones. The expenses that just about every wedding incurs, unless they are “outside the norm”. In this section I’ll tell you the average cost that The Knot states, and then give you resources (as available) to help you save money.

Venue – $11.2K. Venues can range like crazy. The typical venue will provide a space, some basic amenities, some staff to “work” your wedding, and basic coordination. You can definitely spend less than $11.2K on a venue, but you may be compromising on aesthetics or other services. For low cost wedding venues, this is a good post for you.

Catering – $75/a person. Catering can also range like crazy. We definitely spent more than $75/person at our wedding. For low cost catering ideas, this is the post for you.

Dress – $,1900. Honestly, I think this amount for a dress may be kind of conservative. Not only is there the cost of the dress, but there are alterations, accessories, plus tax. For tips on saving on your wedding dress, this is the post for you.

Music – $1,500 to $3,900. Music is a biggie. And the range has to do with if you hire a DJ or a live band. Live bands cost more, but they can create a lot of energy. DJ’s cost less, but they may have more range and flexibility. If you’d like to save money on your wedding music, this is the post for you.

Florist – $2,400. Flowers can be a huge wedding expense. And, they aren’t the priority for everyone. If you want to save on your flowers, look for alternatives or ask a crafty friend to help you put together some simple bouquets. For more details, check out this post.

Photography – $2,600. In my opinion, photography is a non-negotiable at weddings. And it’s worth the costs. However, if you want to save on your wedding photography, this post has the tips for you.

MINOR WEDDING EXPENSES – $5K (OR MORE)

There are tons of minor wedding expenses that can really add up.

I’m talking about your wedding planner, videographer, wedding cake, transportation, favors, and hair and makeup. Plus there are items like activities, decorations, lighting, and rentals. Oh my.

It adds up really fast if you’re not careful.

Here’s my opinion on these items. You need to prioritize the ones that are worth your money. For example, you may want to skip a wedding planner and hire a day of coordinator instead. Maybe you opt for a dessert bar over a wedding cake. Perhaps you don’t really need transportation, and you omit favors altogether.

Below are some resources to help you learn more about saving on minor wedding expenses (which can really add up!):

THOUGHTS ON AVERAGE WEDDING COSTS

Friends, as we all know, weddings aren’t cheap. Keep in mind that the costs stated in this post are just average wedding costs. They are not the amounts that you have to spend on your wedding. The key to saving is to be intentional. Know your priorities. Skip or save where you want to, and splurge on the things that make sense to you and your partner. You’ve got this! Happy wedding planning.

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