Where to allocate funds
Flowers help celebrate the big day .
Whether it ’ s a lavish , black-tie affair or a laid back gathering in the backyard , a couple ’ s wedding day is a momentous , and often costly , occasion . According to the online wedding planning resource Zola , the average cost of a wedding in 2023 was $ 33,000 . That ’ s a significant sum for couples to spend , and it ’ s understandable if couples aren ’ t sure how to allocate funds .
It ’ s important that couples recognize what ’ s most important to them when planning their weddings . Recognition of those priorities can help couples determine how to allocate their funds . Equally helpful can be how past couples have spent on their weddings . Utilizing data from its The Knot 2023 Real Weddings Study , the wedding experts at The Knot ( theknot . com ) have calculated general percentages of a wedding budget couples
WEDDING PERCENTAGES
· Venue : 37 percent
· Catering : 28 percent
· Band : 12 percent
· Wedding rings : 9 percent
· Photography : 8 percent
· Flowers : 8 percent
· Alcohol : 8 percent
· Rehearsal dinner : 8 percent
· Videography : 7 percent
· Couples ’ attire : 7 percent
can devote to various components .
Couples with a keen eye might notice these percentages add up to significantly more than 100 percent . That ’ s because the budgetary breakdown reflects personal preferences , individual couples ’ budgets and what couples can expect to spend on certain components . For example , The Knot data indicates a
· Rentals : 6 percent
· DJ : 5 percent
· Wedding party attire : 4 percent
· Guest entertainment : 3 percent
· Transportation : 3 percent
· Ceremony music : 3 percent
· Cake and desserts : 2 percent
· Stationery : 2 percent
· Officiant : 1 percent
· Favors and gifts : 1 percent
couple that prefers a band for their reception instead of a DJ may need to allocate roughly twice as much of their budget to accommodate that preference . In addition , couples who do not intend to pay for wedding party members ’ attire can find other ways to allocate those funds , which The Knot data indicates typically accounts for roughly 4 percent of a wedding budget .
Another variable to consider is family . According to The Knot data , couples allocated an average of 8 percent of their budgets to their rehearsal dinner . However , couples ’ parents may offer to pay for that meal , which can leave more room in the budget for other expenses . In addition , The Knot reported that the percentage of couples asking a friend or family member to serve as their wedding officiant rose from 37 percent in 2015 to 51 percent in 2020 . Wedding officiants do not often eat up a significant portion of a couple ’ s wedding budget ( 1 percent ), but this is another expense that modern couples may not need to account for .
Weddings can cost tens of thousands of dollars . Couples who determine how best to allocate their wedding budgets may find it far simpler to plan their big day .
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