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Average spending on a wedding is higher than you might think. Find out here how much people are paying to celebrate tying the knot. [[{“value”:”
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Weddings can be a magical event that you look back on fondly for years to come. They can also be a huge money drain that leaves you with an empty bank account and that starts you off in your marriage dealing with a large debt. And sometimes they can be both of those things at the same time.
The reality is, it’s not cheap to throw any kind of fancy party for dozens or even hundreds of your closest friends, but that’s what people do all the time — often with an open bar included. Still, you may be surprised to see just how much people are actually spending to celebrate their decision to share a life with another person.
Here’s how much the average American spends on a wedding
According to research from The Ascent, the average cost of a wedding in 2022 was $30,000. The bulk of this money — an average of $11,200 — went to cover the cost of a wedding venue while an engagement ring was the second-largest expenditure, averaging $5,800. Other costs over $1,000 included:
A live band ($3,900)A photographer to capture the big day ($2,600)A florist ($2,400)A rehearsal dinner prior to the wedding ($2,400A videographer ($2,100)A wedding dress ($1,900)A disc jockey to play music at the wedding reception ($1,500)
All of these, plus miscellaneous costs like invitations, cake, and favors can add up very quickly. But many of them seem essential — especially things like a fancy dress or someone to provide nice flowers.
Where you live — and where your wedding is — affects costs too
While weddings are expensive everywhere, location can make a big impact on price. For example, the average cost of a New Jersey wedding is a shocking $51,000 while the average price in Utah — the cheapest of all U.S. states to get married in — is just $16,000.
It’s not just where you live, but where your wedding is that matters as well. Destination weddings average $35,600 overall, with the average destination wedding in the U.S. priced at $36,400 and the average destination wedding outside of the country priced at $32,100. By contrast, a hometown wedding comes at an average cost of $29,000.
Some of these cost differences have to do with local costs of living, but others are impacted by cultural traditions such as getting married at younger ages or a collective tendency toward larger and more elaborate events.
Should you spend so much on a wedding?
There’s no question that the average wedding spending is very substantial. In fact, there’s a long list of cars you could buy for under the average $30,000 most couples shell out — including the 2024 Kia Seltos subcompact SUV as well as a cute little 2024 Hyundai Elantra Hybrid with impressive fuel economy.
Now, for some people, spending so much makes good sense because it’s important to them. And, that’s OK if you have funds in a savings account for the big day. If it really matters to you to have a big wedding and you can qualify for an affordable personal loan with payments that fit very easily into your personal finances (and leave room for retirement saving), then it’s also not a huge deal.
But if you are going to start off your married life going into debt that will be a burden to repay, you may want to think twice.
The reality is there are plenty of ways to have a wedding for a lot less. My husband and I got married at home in our backyard for about $5,000, for example, and that was with a company that came and made crepes for all our guests plus a beautiful vintage dress (although, to be fair, my engagement ring wasn’t included in this price). Ultimately, scaling down your wedding costs so you can start out your life with more financial freedom may make it easier for you to have the money to form many happy memories in the future.
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