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February 1, 2013 in Wedding News

average price of a wedding

You’ll remember this day by its memories, photos and… credit card debt?!?

As of 2012, the average price of a wedding is right around $27,000, not including the honeymoon. Even in the face of tough economic times, to-be-weds are still spending mountains of money on their weddings.

If the current average price for a wedding seems crazy to you, well, it is and it isn’t. Weddings can indeed be very expensive. Things cost much more than you expect them to. And of course, there’s always the “allure” of wedding planning and throwing a beautiful, splashy event for friends and family. Many brides don’t want something simple, even if they don’t have the budget for it.

And just because the average price of a wedding is $27K doesn’t mean that the average budget for a wedding is $27K. Almost half of engaged couples end up blowing their wedding budgets, putting them into dangerous financial territory. The little things add up. You wanted a $3,000 gown but you found your dream dress for $4,000. You wanted sunflowers for the centerpieces but have to pay extra because they will be out of season. You had budgeted $700 for the wedding cake but forgot about the cake cutting fees.

Average Price of a Wedding Can Point Newlyweds Towards Divorce

As almost everyone knows, the rate of divorce in the US floats around 50%, meaning that half of couples who get married wind up in divorce. Why? Well, one of the possible reasons is that the average price for a wedding is actually higher than a LOT of people’s annual incomes.

In other words, a $27K wedding is totally unaffordable for a huge percentage of couples, which means they are more than likely borrowing money or using their credit cards to pay for the blessed event. And one of the top causes of divorce? You guessed it: money troubles. Starting a marriage with serious wedding debt is NEVER a good idea… and we haven’t even talked about the honeymoon yet.

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If you are one of the lucky couples who have financial help, that’s awesome. Some brides and grooms are fortunate enough to have their parents or other loved ones foot the entire bill… but sometimes that can be bad news, too. Overexcited, over-sentimental parents can blow through the average budget for a wedding, too, such as when they want to invite 75 extra people from church or work when the couple only wanted a small, intimate wedding.

Sensible Couples Make Better Decisions – Staying Within Your Budget

Hey, we’ve all been there. It’s so, so easy to get swept up in the temptation of a dreamy wedding. Brides-to-be are inundated with beautiful Pinterest images, glossy magazines, and breathtaking gowns at bridal events. But if you can manage to prioritize where your wedding money goes, you’ll have a better shot of staying close to the average budget for a wedding.

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At the get-go, sit down with your fiance (and whoever is helping you pay for the wedding) and decided what is MOST important to you. Would you be willing to sacrifice a cake tier for a more expensive dress? Can you DIY your favors so you have a little extra money for that band you just love? Brides and grooms who can set a budget beforehand AND – this is key – stay more or less on track throughout the planning process set themselves up for happier, healthier marriages with better financial outlooks. And that means other goals, like home ownership or starting a family, are that much more attainable.

What Do You Think of The Average Price For a Wedding? What are YOU spending?

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