Is an Expensive Wedding Worth It?

Congratulations! He proposed, she proposed, maybe YOU were the one who proposed? Whatever happened, it happened and now it’s time to start planning the wedding! As you start looking into all of the décor, wedding dresses, tuxedos, venues and more, you might notice that the cost of a wedding can quickly add up. 

Realizing how much money you are about to drop on your big day may leave you with the question of if it is worth it. Is an expensive wedding worth it? Your savings and all? Is it worth starting your marriage off financially worse than you were before? 

Well, there really is no simple answer, but this article may help you decide if an expensive wedding is right for you or if you may benefit from something a little less extravagant. 

Let’s get started!

Are Weddings Worth the Cost?

Are weddings worth the money? This question is nearly impossible to answer because the outcome depends on YOU and your wants, needs and preferences. To some, all they have ever dreamt of was a big fancy wedding, or maybe they have a large family and absolutely do not want to exclude anyone.

On the other hand, it is not uncommon for the groom and bride to opt for a small wedding with a low-key itinerary. Maybe they don’t have a huge family, want to save some money for their honeymoon or simply think a big wedding is too much of a headache. 

So, when it comes to whether or not it is worth spending money on a wedding, you are going to have to look deep within and evaluate what is and isn’t important to you and your soon-to-be spouse. 

The fact that you’re still mowing it over means that it may not be, at least for you. Hear us out, what may be expensive for you may as well be affordable for the next person. The only way to go about your wedding planning is to make financial decisions you’re comfortable with. Here are a few things to consider;

Do you already own a home?

Owning a home is something most people can only dream of in the current economic times. If you have to choose between having a wedding an expensive wedding and placing a down payment on what could be your forever home, then there are no two ways about it. If you already own are home and you’re making good progress with your mortgage, then you can splurge on a wedding.

How is your financial situation?

Financial situations vary from one person to the next and to make such a crucial decision, you should look directly at yourself. If you’re living paycheck to paycheck with unpaid student loans and car payments, then it’s outrageous that you’re even considering an expensive wedding. However, if you’re on top of your finances with a hefty emergency fund, you might as well go all out.

Future Investment

You are bound to grow your family in the future and it would help significantly if you had $15k to fall back on. If securing your future together is more important than an extravagant wedding, then a simpler wedding is better. If anything, 2020 should have taught us that financial situations can change rapidly and unexpectedly.

How about your honeymoon?

The honeymoon is a great part of your wedding celebration and should be budgeted for as part of your wedding. If you’re spending tons of money on a wedding while pinching pennies on the honeymoon, it’s safe to say you’re doing it wrong.

Can all your guests make it to the wedding?

Weddings are meant to allow you to celebrate a new milestone in your life with friends and family. And truthfully, not all of them live next door to us anymore. Instead of spending a lot on small details that may go unnoticed, it would be better to help your friends and family get to your wedding.

Who is paying for the wedding?

If you have more than the two of you chipping in toward the wedding, then it goes without saying that you have a lot of spending money. However, if it’s just the two of you, you may want to sit down together and figure out what you can afford.

Lastly, just because you paid the big bucks doesn’t always mean you’ll get exactly what you envisioned. Wedding prices go up depending on your location and sometimes what you think is an expensive wedding is simply a result of vendors overcharging you for average work. Do a lot of research around your wedding location to ensure you are getting good value for your hard-earned money and don’t be afraid to work with upcoming vendors that have great portfolios and reviews.

The Average Cost of a Wedding Planning

Your particular wedding costs are going to vary depending on the size, location, decorations, time of year and of course, the rings, wedding dresses, tuxedos and bridesmaid dresses. However, Nerdwallet tells readers that the average cost of a wedding is $28,000.

Now, that is the average cost of a wedding, meaning that yours could be lower or higher depending on your specific wedding venue. Don’t worry. We are going to discuss the ins and outs of how to budget for your wedding, what to expect to be the most and least expensive parts and how to minimize your costs along the way. 

First, let’s start by splitting the costs. Do you know who is paying for your wedding day?

Splitting Costs: Who’s Paying for What on Your Wedding Day?

Traditionally, the bride’s family pays for the wedding ceremony and reception, while the groom’s family pays for the rehearsal dinner, lodging for the groom and his groomsmen and the marriage license. 

However, these rules are not set in stone and many couples choose to split the costs or pay for the wedding themselves. It’s important to discuss and come to an agreement with both families and the couple on who will be paying for what before finalizing any wedding-related expenses.

If you and your partner or your families are unable to agree on who will pay for what for the wedding, it’s important to have open and honest communication to try and find a compromise. Some options could include the following:

• Setting a budget and dividing up the expenses based on that budget

• Finding ways to reduce costs, such as having a smaller guest list or choosing a less expensive venue.
• Splitting the costs evenly between both families or the couple and their families
• Having a conversation with a neutral third party, such as a financial advisor or therapist, to help facilitate the discussion.
• Ultimately, the most important thing is to come to an agreement that makes everyone comfortable and ensures that the wedding can still be a happy and memorable occasion.

Tips for Saving Up for Your Wedding

Okay, so if you do not come from a family where you can expect your wedding to be paid for, you will have to find the money yourself. Now, saving for a wedding may seem like a daunting task. After all, we did hit you with that $28,000 average cost earlier.

Don’t worry, though, because we have some surefire ways you can save up for your wedding. However, you may still need to plan it to be budget-friendly and lower-key. You probably shouldn’t expect to be able to have a full-blown ball with these tips. 

Tip #1: Make it a priority. If you have an okay emergency fund set aside already, it may be okay to stop contributing towards it and opt to put your money towards your wedding budget instead. 

Tip #2: Choose to make some extra dough on the side to help you save quicker for your wedding. Here are a few ways to make extra money on the side:

• Freelancing: Offer your skills, such as writing, graphic design or web development, as a freelancer to businesses or individuals.
• Part-time job: getting a part-time job like serving can help you rack in some quick and steady extra cash. 
• Online surveys: Sign up for online survey sites and earn money for completing surveys.
• Selling items online: You can sell items on online marketplaces like Amazon or eBay.
• Renting a spare room: Rent a spare room on Airbnb or VRBO.
• Driving for a ride-sharing service: Drive for a company like Uber or Lyft on your own schedule.

Tip #3: Start saving early: The sooner you start saving, the more money you will have to spend on your wedding planning process.

Tip #4: Take out a loan: This is not always the best option. However, for many couples, it is the only option. You can head over to your bank and take out a personal loan to help you cover some of the cost (or all of it). Remember to note that with a loan comes interest, which means that you will be paying more than you take out in the long run. 

Tip #5: Hire a planning committee: Some wedding planners will set up financial plans with you to help you pay for your wedding. You will most likely need several grand to put down as a deposit first, though. 

Tip #6: Ask for money: It may not be traditional, but you can register for cash on some wedding gift registry. This way, your family members and friends will help you pay for some of the wedding.

Tips for How to Make Your Wedding Costs More Affordable 

Also check out:

• How Much Does a Wedding Cost? Long-Term and Short-Term Implications of a Lavish Celebration
• How Much Does a Wedding Decorator Cost?
• Wedding Catering Cost and Affordable Options for Wedding Food

Thrift Your Décor

Wedding planning also involves a great deal of wedding decorations and they can add up quite quickly. One of the most effective ways to lower the costs of your décor is to thrift it. 

Here is a list of favorite wedding items to thrift:

1. Table linens: Spending a ton of money on white linen that is bound to get messy no matter how hard you try to keep it clean is just a waste and, frankly, unnecessary. There are THOUSANDS of white tablecloths that do not look much different than your typical wedding cloth. Plus, sometimes you can find some really beautiful, vintage centerpieces to go along with your thrifted cloth!

2. Dishware: Plates, forks, knives and glassware are all abundant at a thrift store. Most of them are super cheap and beautiful. Now, you will need to be okay with mix-matched sets, but this could fit perfectly into certain wedding themes. 

3. Flower vases: Flower vases are another wedding décor piece that you will have no trouble finding at your local thrift shop. Browse the aisles and I guarantee that you will find 5-10+ of them on your first try!

4. Fake Flowers: Yes, I know. Real flowers are better for a lot of people and for a good reason. However, they do come with one major downside that a bouquet of fake flowers does not have: a very large price tag. You may not realize it, but real flowers will be one of the most significant investments you will make when decorating for your wedding. 

5. Jewelry: Many stunning jewelry pieces are donated to thrift shops and Goodwill. If you come across a piece (possibly a vintage one) that fits your wedding dress style, why not grab it for half the cost?

There are probably loads more wonderful ideas for thrifting when it comes to your wedding décor. Whatever you can get your hands on from your local secondhand store is guaranteed to be worth it rather than overspending thousands on décor only YOU will actually pay attention to.

Rent Your Wedding Dress

The next tip for lowering the cost of your wedding planning is to rent your dress. Let’s face it; a wedding dress is something you only plan to wear once. Although many brides love the idea of holding onto it forever, most of the time, it only ends up in the back of your closet or a box in the attic. 

Renting a wedding dress can save you a lot of money and may even open up the potential for you to be able to afford the one you REALLY want to wear on your big day.

Have a Smaller Wedding

There are several ways in which a smaller wedding can save you money. The first benefit of a smaller guest list is that catering, venue rental and other costs associated with hosting guests will be reduced. Additionally, smaller weddings usually require fewer decorations, flowers and other items, which can add up over time. Last but not least, having a smaller wedding can also allow you to opt for a less expensive and more intimate venue, such as a backyard.

As well as reducing the cost of food, drinks, decorations and other items, a smaller wedding also helps to reduce the cost of invitations and transportation. If the wedding is held in a smaller venue, you can save on the cost of a caterer, photographer and other professional services. Additionally, if you opt for a more DIY approach, you can save on labor costs.

Don’t Go Crazy on the Cake

You may want to spend a lot on a magnificent and eye-catching cake. However, remember that it is a cake and WILL be eaten. With that said, if you are looking to save some money, opt for a cheaper cake. 

There are hundreds of talented cake decorators out there that sell their cakes at affordable costs. Not to mention that they will still be delicious!

Don’t Do a Destination Wedding

You and your guests can save substantial money by not having a destination wedding. Additional expenses associated with destination weddings include airfare, hotel accommodations, transportation and other travel-related costs. Further, vacation time and additional expenses, such as pet care or childcare, may be required for guests at destination weddings. 

You and your guests can save money by having a wedding in your own city or nearby so that you can spend more on other wedding details or your honeymoon. You can also get better deals from local vendors and suppliers when you plan a wedding in your hometown.

The pros and cons of a destination wedding must be weighed before deciding what’s right for you and your partner. It can be a fantastic way to create a unique and unforgettable experience.

Have the Reception at Your House

You can save significant money on your wedding by hosting your reception at your home or a family member’s home. A wedding reception venue rental can be one of the biggest expenses, so if you have the reception at home, you won’t have to pay for a rental. In addition, tables, chairs and a kitchen may already be in your home, so you won’t have to rent or buy these items for your reception. 

Planning a wedding reception at home is like putting together a jigsaw puzzle. All the pieces you need may already be in the box, and it’s up to you to put them together in the right way to create a beautiful result.

This can also be a great way to add a personal touch to your wedding. You can choose the decor and decorations and completely control the menu. Plus, you and your family members can be more relaxed knowing that you are in a familiar, comfortable environment.

Decorate Yourself

Are you creative? Embrace your inner decorator! While decorating for your big day, you can have fun with friends, family and your future spouse! DIY decorating is a great way to express your creativity and put your own personal touch on your wedding day. 

Plus, it saves money since you won’t need to hire a professional to do the job. It’s also a great way to bond with friends, family and your partner since you can all work together to make your wedding day memorable.

Hire an Amateur or Student Photographer 

Many professional and highly-skilled photographers can quickly drive the overall cost of your wedding upwards. An alternative option is to hire an amateur or student photographer to take your wedding pictures. Professionals may have more experience and better equipment, but they can charge much higher prices than an amateur or student. Therefore, hiring an amateur or student photographer can help you save money while still getting high-quality pictures.

There are TONS of talented individuals out there trying to make a name for themselves, and hiring them can help them and save you money! 

What Parts of a Wedding Typically Cost the Most? 

Various factors can affect the cost of a wedding, but generally, the following expenses tend to be the most significant: 

1. Wedding venue rentals can be one of the most expensive expenses for a wedding. Location, size and amenities determine the cost of a venue.
2. If you host many guests, the cost of food and drinks can be high.
3. To capture lasting memories of your wedding day, you may wish to hire a professional photographer and videographer.
4. There is a lot to consider when buying wedding attire, including the dress, tuxedo, suit and accessories.
5. You may have to spend quite a bit on flowers, special lighting and decor if you want a lot.
6. A cost is associated with hiring a band or DJ and lighting and sound equipment.

The cost of a wedding can vary widely according to its location, size and style. To make the most of your available resources, having a budget and prioritizing your priorities are important. Remember, if it’s not in the budget, you can’t afford it — no matter how much your mother-in-law insists! 

How to Set and Stick to a Budget to Save Money

A budget is going to be your best friend if you are running thin on funds for your big day. So, how can you set a wedding budget and stick to it?

1. Create a detailed list of all wedding-related expenses: Make a list of all the items you’ll need to pay for, such as the venue, dress, flowers, catering, photography and so on.
2. Set a budget for each item: Determine how much you can afford to spend on each item and set a budget for it. Be sure to include an additional 10-20% for unexpected expenses.
3. Prioritize your expenses: Decide what’s most important to you and your partner and prioritize those expenses.
4. Track your spending: Keep track of your expenses to ensure you’re within your budget. Use a budgeting app or spreadsheet to keep things organized.
5. Cut back on unnecessary expenses: Look for ways to reduce expenses without sacrificing what’s most important to you. For example, consider renting a dress instead of buying one or going for simple floral arrangements instead of more elaborate ones.
6. Be realistic: Consider what you can realistically afford and don’t overspend on non-essential items.
7. Be honest with yourself and your partner: Be honest with yourself and your partner about your spending habits and stick to your budget.
8. Look for discounts, deals and promotions: Keep an eye out for discounts, deals and promotions that can help you save money.
9. Set a savings goal: Set a goal for how much you want to save and stick to it.
10. Use a separate account: Use a separate account or a budgeting app to save money for the wedding. This way, you’ll be able to track your progress and it will be harder to spend it on something else.

Remember that sticking to a budget takes effort and discipline, but it will be worth it in the end when you have the wedding of your dreams without going into debt.

The Bottom Line on Is an Expensive Wedding Worth It?

When it all boils down to it, the decision on whether or not an expensive wedding is worth it is entirely up to you. We explored the ins and outs of what an expensive wedding may entail. We also spoke about how you can lower your wedding planning expenses if you decide that a big or pricey wedding just isn’t for you. 

So, what do you say? Is it worth it?