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Free Money Finance

Free Money Finance

Cost of Weddings

Posted: 10 Aug 2016 02:05 AM PDT

Anyone remember the days I used to rail against the cost of weddings? No? Well how about these as a reminder:

Well, my wrath was stirred up recently as Money magazine shared a page full of stats about wedding costs. Some highlights:

  • 29% plan to spend between $10k and $25k on their wedding while 12% are planning for more than $25k
  • 30% is the typical venue markup when the event is a wedding
  • The average spent on a wedding gift for a close family member is $180 while a close friend gets $120 and a friend gets $80
  • Saturday is the prime wedding day -- Sunday weddings cost 10% less
  • 43% of weddings are paid for by the bride's parents while 43% are paid for by the bride and groom. Only 12% are paid by the groom's parents.
  • The average cost to be a bridesmaid (outfit, party, shower, travel, lodging, gift) is $1,179

Ok, here's my take on these:

  • I'm thinking $10k would be the MAX I'd personally spend on a wedding.
  • Don't tell the venue it's a wedding and save yourself 30%. I'd ask for the rental rates up front and if they ask what it's for ask back "Does it matter?"
  • I haven't been to a wedding for a long time, but when I do go I usually give cash. I figure all couples can use that. But I'd probably top out at $100 for all but my kids.
  • Sunday looks like a good day for a wedding! I bet Wednesday is even cheaper! :)
  • As the father of one daughter and one son, looks like I'm going to pay for one wedding and get one free. Ha! For my daughter, I'm going to make her a "take the cash or have a wedding for this much" offer and I'm almost 100% sure she'll take the cash.
  • Thank goodness I never have been and never will be a bridesmaid!!!

So, any thoughts from FMF readers on weddings and their costs?


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