‍Wedding Costs 101: How to Plan and Budget for your Dream Day 

You’ve found your person and are ready to celebrate with your loved ones. Whether you’ve been dreaming of this day for years or are just starting to think about it, Plenty is here to help you turn your vision into reality without breaking the bank. They have talked to top wedding planners and have been through it all themselves, from grand celebrations to intimate gatherings. Here’s what we’ll cover to get you started:

• The average cost of a wedding
• How to discuss your wedding vision with your partner
• How to talk to family about their contributions and expectations
• Miscellaneous wedding day considerations
• How to create a realistic wedding budget and save for it

Understanding Wedding Costs

Weddings can be expensive, but there are ways to manage costs. In 2022, the average wedding cost was $30,000, with costs varying based on location and guest count. Here are some common expenses to consider:

• Venue: $10,000 - $20,000
• Food: $150 per person
• Photography: $3,000 - $5,000
• Music: $1,500 for a DJ, more for a live band
• Flowers: $2,400 on average
• Dress: $1,900
• Groom’s attire: $500
• Cake: $500
• Hair and makeup: $500 - $1,000

Your costs may be higher or lower depending on your priorities. Use these averages as a starting point to create your budget.

Talking with Your Partner

Start by discussing your overall vision for the wedding. Here are some questions to guide your conversation:

• Vision: What do you see when you picture your wedding? Describe it in detail.
• Priorities: What’s most important to you? A large celebration or an intimate gathering?
• Guest List: Who do you want to invite?
• Cultural or Religious Components: Are there traditions you want to honor?

Conversations with Family

It’s important to discuss the following with your parents and future in-laws early in the planning process:

• Financial Contributions: Will they contribute financially? How much?
• Guest List: How many guests do they want to invite?
• Customs and Rituals: Are there any traditions they want to include?

Beyond the Budget

Your wedding is more than just a financial investment. It’s an opportunity to reflect on your relationship and the traditions that matter to you. Consider these questions:

• Engagement Length: The average engagement in 2022 was 15 months. Do you want a longer engagement to save for your dream wedding?
• Personal Touches: Think about unique ways to make your wedding special. Would you prefer homemade cookies over a traditional cake? A barbecue buffet instead of a plated meal?

Finding Your Compromise

Every couple has to make compromises. Here are some questions to help you find yours:

• DIY or Professional Help: Can you skip a wedding planner and go DIY?
• Trade-Offs: Would you trade a live band for a top photographer?
• Priorities: Is the perfect venue more important than other aspects?

Looking Beyond the Wedding

Remember, your wedding is the beginning of a new chapter. Consider how your wedding budget fits into your other financial goals, like buying a home or starting a family.

How Plenty Can Help You Save

Plenty is designed to make saving for your wedding easier. Here’s how:

1. Set Your Wedding Goal: Tell us about your wedding vision, guest count, and target date.
2. Flexible Savings Plan: We’ll create a savings plan tailored to your needs.

Regular contributions add up quickly, especially when you save together. With Plenty, you can focus on each other as you walk down the aisle.

About Plenty

Plenty is an investment platform designed specifically for couples to build wealth, together. They go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy. Ready to get started? Head over to Plenty and sign up for your free trial today.

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