Why a Budget is the First Wedding Decision You Should Make
You just got engaged! Congratulations! Now before you run out and go get the venue or the dress or pick out a single flower, please sit down and consider your budget. Here are some reasons why deciding your wedding budget should the very first wedding decision you ever make. The average cost of weddings has been on the rise with no end in sight. In 2019 and 2020, the average couple spent at least $33,000 on their wedding (yes, even with COVID). That same average couple expected to spend around $27,000 - $30,000, but ended up going over budget. One of the reasons this occurs is because couples don’t do a great job budgeting before they begin to make wedding decisions, so the money runs out before the big day!
Average Cost of Weddings in the United States
This shows the increase in the average cost of the American wedding from the year 1990 to 2020 based on real data.
If you budget before you pick out a single detail, you will know exactly how much you have to spend on your wedding expenses! I understand budgets can feel limiting, but trust me when I say everyone has a budget. Whether its $1,000 or $10,000,000 - it’s still a budget! And although initially you may not love the idea of your perfect day have a strict price tag, I promise you that the more research you do for your venue and catering, etc., the more overwhelming your options will become and a budget can help knock some of those options off the table. If you start with a budget you can be sure to feel good about those amazing, expensive, and sometimes scary purchases! Let’s face it, no matter which way you cut it, weddings are costly. And for some people, it may be the biggest financial decision they’ve ever made in their lives! So although it feels so good to say yes to the dress, that feeling may fade as you approach the register. But, if you and your fiancee have come up with a solid budget that allows you and your spouse-to-be to afford the big day and you stick to that budget, you may not feel the uncomfortable sticker shock that some other couples feel when making big purchases. Lastly, budgeting for your wedding sets up your future. Weddings are costly but worth it because it’s one of the best days of your life and you deserve to splurge on you! But it’s probably not the only big financial life decision you’ll be making - there may be a new house or a new car on the menu and those are big purchases, too! Yes, it’s important to get the wedding of your dreams, but it’s just one day . . . you’ll be living in your new house or driving your new car around everyday. Making sure spend what you're comfortable with on the wedding and ensures that you’re leaving enough for everything you have planned in the future! So that’s why you should lay out a budget before you do anything wedding related. Need help? That’s why I am here for! I would love to sit down with you and your spouse-to-be and hammer out the perfect budget for y’all! Congratulations!