What accounts for the exorbitant cost of weddings? Don’t be turned off by the fact that the average wedding costs a lot of money.
The words “expensive” and “stressful” may come to mind when you think about wedding planning, but they don’t have to be.
Find out which financial follies to avoid to make your wedding planning experience as pleasurable and cost-effective as possible.
Have you lately gotten married? As you plan your big day, aren’t you looking forward to finding the right wedding gown, touring various churches, and tasting meals with potential caterers? But, before you begin, you must address the most difficult and stressful, yet most vital, aspect of wedding planning: the wedding budget.
A couple must consider numerous expenses when organizing a wedding. There’s the location, the outfits, the invitations, and a slew of other expenses that you and your sweetheart will incur in preparation for the big day.
Set your wedding budget as soon as possible because it will help you choose how much to spend on major expenses such as the ceremony and reception venues, as well as minor ones such as an extra tier on your wedding cake.
Many couples set a wedding budget, and while some stick to it, the reality is that costs quickly add up and frequently exceed the original budget. As a result, we’ve prepared three infographics to help Australian brides establish realistic wedding budget expectations for 2020. The information for these infographics came from known local wedding vendors in Australia, and it was averaged based on their usual billing rate for a 150-person event. Expenses and price can vary greatly. Expect to pay 50 percent to 100 percent more on average for well-experienced specialists, designer labels, prominent event locations, unusual or customized items and services.
If you tell an engaged couple that the average wedding costs more than a down payment on a decent home, they’ll probably burst out laughing. Given that the average wedding cost $33,391 in 2017, they’d definitely go with the latter.
That’s a lot of money, and newlyweds are up against it when it comes to keeping wedding costs modest. From paying for the venue to the cost of the bride’s make-up on her wedding day, money is pouring out of family bank accounts before – and on – the big day.
Creating a wedding budget is a difficult task. Your wedding will almost certainly be the biggest and most costly party you’ve ever hosted. In Australia, the average wedding costs $44,000 for 167 guests. Almost a third of couples pay at least part of the fee, and nearly a quarter pay the entire amount. However, here’s the kicker: almost half of all couples overspend. Set a reasonable wedding budget before thinking about exotic locations, booking expensive vendors, or trying for luxury gowns to ensure you’re not one of them.
To construct a budget, add up your funds, keep a precise spreadsheet to avoid going over budget throughout the planning phase, plan for unforeseen costs, and make significant revisions if your total budget is exceeded. We understand how much work it is, but putting in the effort now will ensure that you live happily ever after (wedding-debt free). Here’s how to create a wedding budget that you can stick to.
How much does a wedding reception venue cost?
One of the first considerations you’ll make when organizing your wedding is the location—and there are many various types of wedding venues to choose from, ranging from barns to ballrooms! Because your wedding venue will most likely consume a considerable portion of your cash (half of a couple’s total expenditure is spent on wedding venue, catering, and rentals), it’s vital to conduct your research before selecting on a site. The average wedding location in Australia costs $6,000, with the majority of couples spending between $3,000 and $11,000. Please bear in mind that these are simply averages, and prices might vary significantly depending on a variety of factors, such as whether or not in-house catering is included.
In 2019, the typical wedding cost $33,900 (including the engagement ring, ceremony, and reception).
To avoid additional expenditures and surprises after the event, go over everything one by one before signing the contract for your wedding reception. Ascertain that you are aware of any additional charges that may occur following the wedding.
The average cost of a wedding location, according to recent brides’ polls, is between $12,343 and $14,006. This pricing includes any venue fees as well as food, beverages, and incidentals like tables, chairs, and linens. Furthermore, the cost of a venue is unique to each couple and is dictated by their vision, location, and budget. A good rule of thumb is to budget approximately 45 percent of your overall wedding expenditure for all of this. You should strive to get the most bang for your buck, and don’t forget to account for service fees and taxes, which typically add another 30% to the price you’re offered up front.
Approximately half of newlyweds select a banquet hall, country club, or hotel as their wedding site. However, in recent years, historic homes, structures, and farms have grown in popularity.
Many couples pick odd locations to express their personalities, such as public parks, beer gardens, children’s museums, and backyards. As you can expect, there might be a significant difference between your least spending on each sort of location and the more luxury approach.
For a small wedding of 50 people, a couple in Melbourne may confront the following number ranges in various sorts of venues. Your final cost is determined by a variety of extra products and alternatives, ranging from the sort of meals offered to whether the venue charges a venue fee. At the very least, you can provide your visitors with a modest buffet of soft drinks. It is impossible to specify the true maximum because, in theory, you can keep upgrading all of the options to the most expensive foods, drinks, and decorations known to mankind. Consider an all-night high-end full bar and cocktail hour, a robust 4-course meal with a selection of lobster, and additional desserts to make the most of it. Some couples opt to hold their weddings and celebrations in separate places.
Weddings are shorter than celebrations and do not include catering, therefore the wedding site is usually less expensive than the wedding feast. The average initial venue cost for a wedding in Australia is $600. Cost considerations for wedding venues So, what factors influence the enormous variability and scope of costs? Typically, your venue charge includes a significant portion of your reception fee (if you hold two events at the same venue, it may include some ceremony fees). More expensive places, for example, tend to provide more inclusive services and more advanced options.
Beverage and food requirements
Some establishments, typically hotels, banquet halls, and private clubs, require couples to bring their own food and beverages. Others, particularly those with limited culinary facilities, such as gardens or historic houses, prefer that you employ suppliers and any other vendors you require. Depending on how the various components are merged, you may or may not save money by using a segmentation method. You must know the amount of venue charges because there is no standard method for venue pricing. As an example, consider alcohol. Some enable you to serve yourself, while others charge per person per hour and charge you for all drinks purchased. When shopping around, keep in mind all of the potential costs of obtaining what you desire.
The cost of organizing a wedding at a specific venue is also determined by supply and demand, which divides the year into peak and off-season periods. If you have a big number of identical venues to pick from in your city or town, the most competitive places may drop their pricing. If the weather is generally pleasant, there are more months available for weddings, which helps to cut expenditures. Extreme heat and cold are frequently avoided by married couples (those months become off-peak). In general, choosing a month, a day, or a few hours for your wedding is a simple method to save money on your location.
For a wedding, rent a historic building in Seattle. If you have a wedding on a Thursday night or a Saturday morning in November, you must pay $625; if you have a wedding on a Saturday night in August, you must offer the same space and time. He paid a total of $1750 USD. Peak weddings are thus 2.8 times more expensive than non-peak marriages. Fees for Miscellaneous Items When your contract with the venue expires, make careful to inquire what is included in the rate, what is required but not included (such as a certificate of insurance), what else you may need and should go elsewhere (in some circumstances, tables and chairs), and what fees will be added to the final bill. In general, venue fees should be taxed at the rate of your state’s sales tax. Places are also accustomed to adding service charges to food and beverage bills, which typically range between 18% and 24%. This is a significant additional sum when the invoice is due, so keep it in mind ahead of time. To impress others, marriage does not imply bankruptcy.
You have control over the wedding’s cost. The last thing you want is to begin your married life in debt! When necessary, bargain. If you believe that negotiating is required, please proceed with prudence and respect. If you have a wedding coordinator, he or she should know what works and where to locate space. You can also cut costs by yourself. Consider requesting that suppliers minimize the amount of content in their packaging. Allow the photographer to shoot for a few hours rather than all day, or see if the catering supplier can limit attendees to one or two drinks rather than providing an open bar. Add everything up. Don’t cave in to peer pressure, family, social media, or cost reports. Wedding spending should be in line with your income, daily expenses, and other financial objectives. Enter the figures after you’ve decided on your budget, the type of wedding you want, and begun researching prices. To determine your overall spending, use our calculator.