Many Canadian couples start hearing wedding bells and thinking about that big day early on in their relationship. Some even start saving as soon as things get serious. And why not? Your wedding is an important milestone worth celebrating!
But if you’ve never been exposed to the financial side of planning a wedding, it’s easy to be shocked by what you find. It turns out becoming “bride and groom” is a lot more complicated than simply saying “I do,” and those expenses add up quickly.
The final bill all depends on the couple’s vision, and their possible wedding budget. It can easily run from $10,000 to $100,000. In fact, according to The Knot’s 2018 Real Weddings Study, the average wedding cost is around $34,000!
A more useful question to ask yourself is “How much am I willing to spend?”
The best way to help yourself determine a realistic budget for your wedding is to create a list of costs – and stick to it. Just keep in mind that you may have to make compromises in certain areas to stay within your budget.
Get an idea of what you can expect with this breakdown of the most common wedding expenses and their average prices:
- The most expensive items on your list will undoubtedly be the venue and caterer. Combined, these expenses will take up about 60% of your total budget. This will most likely include drinks, and a larger price tag for an open bar. But it won’t include the wedding cake or entertainment. When it comes to venues, high-end banquet halls will be more expensive than smaller locations. That said, the pricier locales usually include rentals, tableware, and basic amenities.
- The wedding dress is another large purchase. On average, brides spend well over $1,500 for their dress. There’s a lot to keep in mind here: veil, handbag, shoes, alterations, etc. And remember, the more intricate your dress, the more expensive it will be to alter.
- For vendors like the photographer, cameraman, DJ, and other entertainment, you should expect to pay between $2,500 and $3,000. An experienced DJ alone can cost upwards of $1,750.
- Flowers and décor are a must for any wedding day. But with so many small details, it can be easy to lose track of your expenses here. Pay close attention and expect to pay between $1,000 and $2,000.
- Many couples book hair and make-up professionals for both the bride and her bridesmaids. For just the bride this expense can start around $300 or $400. The cost only goes up as you add service for the bridesmaids.
- Invitations, Save-the-Dates, programs, and other small details add up quickly. From determining how many you need, to having them printed, to factoring postage – and more – you can expect to pay $300 to $400. Of course, email invites are an inexpensive – and environmentally friendly – option as well.
- Another expense you should consider, which can help save you time and money, is a wedding planner. With many service options to choose from, from full A-Z planning to day-of help, hiring a wedding planner takes the stress out of the day and just makes things easier.
One last bit of parting advice to leave you with: Be sure to allow yourself some wiggle-room in your budget. You never know what kind of incidental expenses may pop up!
If you’re ready for some help tying the knot, don’t hesitate to contact us today!
EPI 