Breaking Down Wedding Costs in 2024: How Much Should You Budget?

Planning a wedding is an exciting journey, but it can cost significantly more than you imagined. Costs vary depending on location, preferences and celebration size, so understanding the potential expenses can help couples plan effectively.

The Average Cost of a 2024 Wedding

Weddings are major life events that come with substantial financial investment. The average costs continue to rise in 2024, increasing by $4,000 from 2023 to total $34,000 in 2024. If you’re planning a 2025 wedding, costs may continue to rise. Understanding them can help you plan and allocate your budget more effectively.

Venue

The venue usually accounts for the largest chunk of your budget. In 2024, the average cost for booking a wedding venue is between $6,000 and $12,000, depending on the location and type. Banquet halls, hotels, barns and beach celebrations typically fall into this range, but luxury locales can reach prices as high as $75,000.

Catering

Food and beverages are another major expense, typically consuming about one-quarter of the budget. In 2023, the average cost for catering was around $85 per person, with additional costs for open bars and catering to dietary restrictions. For a wedding with 100 guests, the total cost could amount to as much as $10,000 on food alone.

Photography and Videography

Capturing memories is essential, and professional photography and videography can cost roughly $2,000, although it could go as high as $4,500. This generally includes pre-wedding shots, full-day coverage, and edited photos and videos. It’s best to shop for photography services to find one that matches your budget.

Flowers

Floral arrangements and decorations can significantly enhance the ambience, so they’re vital to your special day. Depending on the look you choose, expect to spend between $700 and $2,500 on bouquets and arrangements.    

Attire

The cost of wedding attire can vary widely. On average, a bridal gown costs around $2,000, while a groom’s suit or tuxedo will be significantly cheaper. Additional expenses, including accessories, alterations, fittings and outfits for the bridal party, could increase the total cost.

Entertainment

Entertainment costs depend on how long you hire the musicians for and where the venue is located. However, live bands will typically cost more than DJs.

Invitations

Invitations, save-the-dates, programs and other stationery items can add up quickly. On average, store-bought invitations cost about $7 per person. However, if you create your own through a design studio, you may pay up to $30 apiece.

Wedding Planner

Hiring a wedding planner can be a lifesaver, sparing you plenty of time and stress, especially for larger events. It’s best to set aside 10%-20% of your total budget for one, as full-service planners tend to charge this way.

Miscellaneous Costs

Other costs to consider include transport, wedding favors, gifts for the bridal party and a marriage license. These expenses can add a few thousand dollars to the overall budget.

Tips for Budgeting Your Wedding

Planning a wedding within your budget can be daunting but is entirely possible with careful consideration and strategic decisions. Here are some tips to help you stay on track financially while creating a memorable celebration.

Set Priorities

Identify the top three aspects of your wedding you and your partner aren’t willing to skimp on. Set aside a larger portion of your budget for these areas and be more flexible with the less critical elements. This approach ensures the most important parts of your wedding get the attention and funding they deserve.

If you’ve always dreamed of a fairytale wedding dress, don’t be afraid to spend your funds there. However, if decorations are more important to you, set aside more for floral arrangements.

Create a Detailed Budget

Use a spreadsheet to track all your costs, including estimated and actual amounts. Categorize your expenses, such as venue, catering, attire and miscellaneous expenses, to get a clear picture of where your money is going. Regularly update the spreadsheet as you make payments and incur new bills.

DIY Where Possible

DIY projects can add a lovely touch to your special day while staying within budget. Consider making your own decorations and invitations. These projects can be fun and involve loved ones, creating a more intimate and memorable day.

Limit the Guest List

Limiting the guest list is one of the most effective ways to control wedding costs. Ultimately, you’re paying per person, and each additional guest increases catering and invitation expenses.

Carefully consider who you invite and prioritize close family and friends. A smaller, more intimate wedding allows you to create a more meaningful experience for those who are truly important to you. Remember to limit plus ones, too, as your guest list may double in size, pushing your expenses up.

Tie the Knot Without Breaking the Bank

Weddings are a big investment, but careful planning and budgeting can create a beautiful and memorable event without breaking the bank. Understanding the average costs and following these budgeting tips will ensure you’re well-prepared to plan your dream wedding in 2024.