The number of weddings has been increasing as couples who were delayed by the pandemic finally tie the knot. According to The Knot, there were 400,000 more weddings in 2022 compared to an average year.
If you’re planning a wedding, you’ve probably noticed higher prices for venues, catering, flowers, and other elements of the celebration. The average cost of a wedding in the U.S. last year was over $29,000, as reported by The Wedding Report.
Kelcy Christy, senior editor of Inside Weddings Magazine, explains that persistent inflation is driving the rising costs of weddings. For example, increased grocery prices lead to higher costs for caterers.
A survey conducted in January with around 300 wedding vendors found that 83% of participants expect their business expenses to increase in 2023, according to CNBC. Additionally, 77% of vendors stated that they have raised their rates this year to compensate for rising operational costs.
How to Save
Christy advises couples not to be discouraged by rising prices and assures them that it’s still possible to host a memorable event by being selective with their spending.
“Couples can find ways to cut back and still have their dream weddings,” she says. “It’s all about determining where to splurge and where to save.”
Contrary to expectation, hiring a wedding planner within your budget could actually save you money, as vendors often offer discounts through them, according to Christy.
For couples who want to celebrate with a smaller guest list, eloping and having a party with friends afterward could be a solution, she suggests.
Christy warns that couples who prefer larger event venues may need to cut back on other extras, as hotels and resorts tend to be more expensive. They could consider unique and potentially cheaper venues, such as a public beach (which could be free) or a private estate. However, it’s important to note that vendors might charge more for these types of venues due to logistical challenges compared to locations they’re familiar with.
“You have to bring in all those rentals when a hotel may already have them available,” she said.
Another suggestion is to skip welcome gifts and wedding favors for guests and instead offer more dessert options or a signature cocktail.
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