The dream wedding isn’t dead, but the idea of blowing a year’s salary on one day is starting to feel outdated, like throwing rice or matching tuxedos. According to new research, today’s brides and grooms are being more practical and budget-conscious than ever before.
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A new survey of 2-thousand engaged Couples currently planning their wedding reveals:
- The average couple expects to spend a third (33%) of their combined annual income on their nuptials.
- That puts the average wedding budget at $21,058.
- Nearly a quarter (22%) describe their wedding budget as “modest,” and 5% say theirs will be extravagant, while 16% claim to be working with the “bare minimum.”
- The days of the bride’s family paying for the entire wedding are over, as 85% of couples say they’re covering the bill themselves.
- Only 14% have both sets of parents pitching in and 10% are getting some financial help from one side of the family.
- Couples admit they felt sticker shock at the high prices of venue rentals (39%), photography (34%) and attire (32%).
- The wedding dress itself can be a huge expense, as the average budget for one is $7,497.
- To save money, a quarter of couples have postponed their wedding, while others have opted for DIY decor (27%), more affordable venues (24%) or secondhand outfits (19%) instead of designer brands.
- Almost half (46%) of brides say their bridesmaids are paying for their own dresses, while 27% will be paying for their entire wedding party’s dresses, and 27% aren’t having any bridesmaids.
- The average wedding guest list includes 107 people and couples seem to keep keeping things simple, as only 13% plan to host multiple events, like welcome parties and next-day brunches.
- To keep costs down, 19% are delaying their honeymoon and 11% are skipping it altogether.
Source: Talker
