Can you put a price on love? If you're talking about love itself, well, no…but if you're talking about declaring your love in front of family and friends, then...yes. The average price of a wedding can reach a staggering $45,000 in some metro areas, according to wedding planning site Zola.1
But before those wedding bells turn into a flurry of wedding bills, check out these cost-saving tips that will still preserve your dream wedding.
Tie the Knot Without Breaking the Bank
The first step (well, after you say, “I do") is creating a budget. This will drive every decision you make so it's imperative to do some research into actual costs. For example, you might be stunned at how a bid for basic flowers escalates when you say the “W" word.
Before setting your expectations, determine how much money you have to spend. Perhaps a relative is gifting you some or you've been making automatic deposits into a dedicated wedding fund in a high yield savings account. If you aren't sure where the money is coming from, now's the time to figure out how much you can realistically save. An extended engagement provides the chance to whisk a set amount into a separate wedding-focused money market or high yield savings account where it can continue to grow.
Once you have a rough idea of your expected total, start researching and assigning dollar figures to categories. It will become evident really quickly where you might need to make tradeoffs. Then, commit to tracking your expenses with a detailed budget spreadsheet so you aren't hit with a surprise deficit at the end. The same Zola report found that about one-third of couples are optimizing their credit cards to cover the wedding bills, which can be a savvy strategy if you use a cashback credit card and commit to paying it off each month.
Prepare to Cut Your Cake, Not Corners
Spend a few minutes scrolling Wedding TikTok or Pinterest and you're bound to be awash in exciting ideas from photo booths complete with posh props to elaborate ice sculptures.
But few weddings can support having it all so this is where you need to prioritize, decisions that will be different for every couple. A minimalist might prefer the look of natural greenery while a flower lover might opt for sumptuous bouquets on every table. Some couples ask a talented friend to snap their pictures while others want the most sought-after photographer in town. Only you can decide what's a non-negotiable, then allocate reasonable funds to these upgrades in your budget.
Manage the Guest List Tango
It's tempting to want to invite everyone, from Great Aunt Harriett to your BFF from first grade. However, managing the guest list is one of the best ways to manage your budget. The price for everything escalates with the more people you have, from the size of the venue to the number of tables (and accompanying floral arrangements) to the catering budget.
Sometimes part of the guest list is out of your control—yes, Great Aunt Harriett might be expecting an invitation. But there are ways you can tame an out-of-control list without (hopefully) hurting feelings. For example, inviting only the team members you work with on a daily basis rather than your whole office or only offering plus ones to committed couples. Being intentional can give the event a more intimate feel.
Once the guest list is finalized, it's time to do the inviting. The great news is that you can save money and time by opting for digital date savers. You'll probably get more timely RSVPs and an accurate headcount in return.
Unveil Your Personality
Your wedding should reflect you and your partner, not be a copycat of the hottest TikTok trends. DIYing some aspects of it is one of the best ways to not only save money but also make the whole event feel personal. Anyone can buy high-priced roses for the centerpiece, but only you can arrange wildflowers from your mom's garden.
Tap into the services of friends and family if possible. Rather than hiring a DJ or band, you could rent high-quality gear and have a willing friend roll your playlist. And forgo those pricey printed party favors, which probably end up in a landfill anyway, by sending guests home with a hand-painted kindness stone. Investing your time and creativity can pay off budget-wise and in making the event feel like “you," whether your vibe is elegant or playful.
Just As In Love, Timing Is Everything
Given that Saturday evening is the most popular time for weddings, you're likely to pay a premium. Depending on your schedule—and that of your friends and family—you can save big on both the venue and all your vendors by choosing an off-peak day or evening.
An alternative time can reduce costs in other ways, too. With an afternoon wedding, for example, you can often forgo many of the extras that drive up the cost—from alcohol to a full sit-down dinner. Just make sure that the loved ones you most want there can attend.
Explore a Wedding Venue Off the Beaten Aisle
Think your wedding has to take place in a hotel ballroom, winery or other designated “wedding venue?" Some of the most memorable events take place in an unexpected location—from a sunny beach, rustic barn or lush nature center to the backyard oasis of a friend or family member.
Because traditional event spaces typically come with restrictions on outside food and beverage, alternative settings often lend themselves to savings, from a BBQ theme at the beach to food trucks at the park. Even if you do want to serve a full spread, you'll likely have a much larger slate of catering choices.
Note that these unconventional wedding venue options might come with equally unconventional rules. Make sure you check on any permits needed, as well as all the logistical details, such as where guests will park. Sometimes the added cost (and hassle) of renting tables, chairs, lavatories, dishes, etc. can outweigh the cost savings.
Say No To Dress Stress
Secondhand gowns are a first-rate way to have the dress of your dreams at a price that's not a nightmare. Whether you borrow from a friend or family member (and check the “something borrowed" box), rent or buy pre-owned, it's becoming increasingly common for green brides to choose an alternative to a brand-new white dress. You also can save by finding a special occasion dress, either new or secondhand, rather than a designated “wedding" dress.
Remember that while wearing a family member's dress can be a sentimental choice, alterations can make the piece more expensive than other options so talk to a seamstress before committing.
A groom can also find big savings in less formal attire, such as a nice suit that can be re-worn for multiple occasions.
Tap Technology for A Modern Love Story
Wedding planning apps and websites, like Zola and The Knot can streamline the process with all-in-one capabilities that allow you to track your budget, RSVPs, registry, checklists, vendor management and more. Tap into specific apps for other functions, like Coolors to help choose a wedding palate or WeddingHashers for a customized hashtag. With a personalized wedding website, you can share your love story, event details and local activity suggestions. Embracing digital tools can turn your “I dos" into “it's done!"
Vow to Negotiate With Vendors
If the bid from one of your wedding vendors takes your breath away, it might be time to get busy negotiating on price. For instance, you might need to get creative and inquire about package deals (do you have a friend getting married, too?) or discounts if you handle some of the labor, such as setting up the chairs and tables, or host an off-season event.
Ask about the different types of services they offer. You might decide it's preferable to pay the photographer an a la carte hourly rate to capture just the main events or maybe you'll get more bang for your buck by purchasing an all-inclusive package that covers engagement photos and unlimited downloads after. Or see if they can throw in something extra, like the hors d'oeuvres or dessert if you're serving a feast.
Keep in mind that wedding vendors are professionals and this is their business. You might have more luck negotiating with a wedding planner who's starting out than the most sought-after established wedding whiz.
Always be sure to read all contracts carefully, noting details such as deposits, weather clauses and any sort of refund policy.
Safeguard Your Happily Ever After
Speaking of weather clauses, it's critical to have a “rainy day fund" established, not just for an actual rainy day—although getting tents last-minute can be spendy—but for any unexpected expenses that arise. The last thing you need is financial stress, and having a contingency plan can give you peace of mind in case of a last-minute vendor hiccup or a stream of day-of RSVPs. That's where you should look into a savings product that can help your money grow through a high rate of return, such as a high yield savings account, money market or Certificate of Deposit (CD).
For Richer, Not Poorer
While many modern couples have moved away from these traditional vows, the sentiment remains: you now have a partner for all of life's ups and downs. But don't let a joyous occasion turn into a budget bummer—a memorable wedding doesn't have to break the bank. Prioritize what matters most to you and use a thoughtful planning process to ensure your special day is everything you'd hoped it would be—and more.
As you plan your life together, the wedding is just the first of many joint purchases you'll make. Why not combine your financial lives as a married couple with a joint account to put your union on the right financial path from the very start? Check out Riverstones Vista Capital 's options today to see what best suits your needs.
Cathie Ericson is an Oregon-based freelance writer who covers personal finance, real estate and education, among other topics. Her work has appeared in a wide range of publications and websites, including U.S. News & World Report, MSN, Business Insider, Yahoo Finance, Market Watch, Fast Company, Realtor.com and more.
READ MORE: Saving for a Wedding to Remember
Sources
1. “How Much Does the Average Wedding Cost in 2023?" Zola.com. URL.