The average wedding costs $35,329, which is slightly more than the average cost of a new car. From the venue and food to the stationary and favors, your expenses can begin to add up.
If you don’t know where to begin in your wedding planning process, start by creating a wedding budget. Use the following checklist to assist you.
Your choice of venue will likely be the biggest expense in your wedding budget. Account for the following:
Save money in your wedding budget by skipping the engagement photos or the wedding video. You can also book ahead, find local photographers and look for packaged deals.
While a band is roughly $2,662 more than a DJ, it’s up to you and your spouse to decide how you want to entertain your guests. If music isn’t a high priority, stick with a DJ.
Flowers are often the bulk of the decorations, but they can be expensive. If flowers aren’t as important to you, make smaller arraignments or use other decorations to adorn the venue.
In addition to flowers, you might want to include other items in your wedding such as a guestbook, candles, signs and party favors. The average cost of party favors is $268, but this can be lowered if you make them yourself.
Now that you know how to create a wedding budget, learn how to start saving money with Synchrony Bank.
Our banking representatives can help you set up a savings account far in advance of your big day. With one of the best high yield savings accounts,1 Synchrony Bank will help you maintain your wedding budget and save for the big day.
The Knot: https://www.theknot.com/content/average-wedding-cost-2016
1Synchrony Bank was named one of the 10 Best Money Market Accounts, High Yield Savings Accounts, CD Accounts and Online Banks as well as one of 31 Best Banks for 2016. Source: Based on GOBankingRates.com; January 2016 survey.
*ANNUAL PERCENTAGE YIELD (APY): All APYs are accurate as of 07/12/2018.
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