Envisioning your future wedding can bring about feelings of excitement, joy, and love! Once the planning begins, it’s completely normal to experience different emotions as the reality of your future and the potential cost of your event set in.
Couples quickly learn the price tag associated with venues, bands, catering, and other expenses can quickly add up. In addition to thinking about the cost of your upcoming nuptials, couples must consider future investments and debts they want to budget for while they plan for their future. These may include purchasing a home, paying off remaining student debt, building an emergency savings account, or planning for an extended family. Although personal loans can help new couples pay for emergency expenses, weddings, vacations, and consolidating their debt, making hard choices during your wedding planning may help minimize the amount of financial help you may need.
Traditional dream weddings have become something of a financial headache. That’s why an increased number of couples are leaning toward creative, non-traditional wedding ideas. Many are discovering that a non-traditional wedding delivers the intimacy and elegance they desire without the financial burden.
The average wedding rose above $22,000 in 2021, after retreating during the previous year. Wedding industry experts anticipate the cost will continue to increase to nearly $25,000 by 2024 and could reach new highs in the years to come. Those are not helpful projections for couples who are getting engaged and planning future weddings. Although personal loans can help pay for the wedding of your dreams, less expensive options do exist!
The good news for soon-to-be newlyweds is that there are fun and engaging non-traditional wedding opportunities that reduce spending. Rather than skimp on the entrée or hire a not-so-great wedding band, consider the following cost-saving alternatives that add to the ambiance.
Paying for a traditional wedding venue consistently represents the single greatest expense. Facilities that host wedding parties typically receive 50 percent or more of a couple’s total budget. In fact, some traditional halls charge $20,000 and require a large deposit to book a date.
One non-traditional wedding venue option is to speak with a local microbrewery. These small businesses often see the value of having a guaranteed crowd. Rather than roll the dice on weather and competing events, a brewhouse may be willing to offer couples the venue at a low or no cost. A brewery is in the business of selling beer, alcoholic beverages, and food. Wedding guests usually eat and drink plenty during these festive occasions. A brewery celebration ranks among the fun alternatives that can save thousands of dollars.
Saving money by holding a non-traditional wedding tasks couples with understanding events from a business point of view. Venues, bands, DJs, caterers, etc. must make their living Friday through Sunday and as a result, charge a premium rate. But weekday gigs are usually less common, and because it's outside of their prime working hours, they may be able to charge less. The average wedding band earns $4,500 and DJs $1,300. A non-traditional wedding date allows couples to negotiate rates that can save half the cost.
Running away to get married is a romantic and exciting adventure. It also saves couples a great deal of money. While venues, entertainment, and caterers add up to tens of thousands of dollars, eloping and holding a small party for close friends and family on your first anniversary can be a great cost-saving alternative.
Consider for a moment that the average cost of eating reasonable fine dining runs about $71 per person. Now multiply that times the number of guests you plan to invite. By contrast, brunch runs about one-third of the cost of dinner, and many people find the brunch experience more intimate and relaxing.
The average wedding dress runs anywhere between $500 and $4,000 and brides wear it only once. Renting a tuxedo adds another few hundred dollars, and you won’t even own it. Wearing non-traditional attire isn’t just a way to lower the cost of a wedding. Dressing up in a fashion that reflects your personal style adds to the ceremony. Be your best self. After all, it’s your big day.
Holding a non-traditional wedding at a private location opens the door to other savings opportunities. An open bar can cost upwards of $12,000 in a wedding venue. But by hiring a certified bartender and purchasing beer, wine, and top-shelf liquors, couples can offer a wonderful selection at a fraction of the cost. You can also get creative and select a signature or themed drink for the occasion.
To say that wedding cakes are sometimes over-priced would be something of an understatement. With all due respect to cakemakers, there are plenty of dessert alternatives that satisfy guests’ palates. Consider replacing that $400-$500 cake with gourmet desserts or even more affordable cupcakes. Individually wrapped customized cookies could even double as a parting gift. Finding cake alternatives is a delicious way to lower your wedding costs.
A florist typically charges upwards of $2,000 for traditional floral arrangements and the average bouquet costs between $150 and $350. Those are significantly high numbers when you consider what a local greenhouse might charge. It may be worthwhile to enlist a friend or family member to work with a local grower or greenhouse to design your flower arrangements. What better way is there to support your local community and save on your total budget!
Although the cost of a minister or public official is not necessarily one of the big-ticket wedding costs, the little expenses add up. If you have someone near and dear to you who can officiate, that helps ease the seemingly endless cost of getting married and creates memories that will last a lifetime.
If your wedding planning is still ending with a budget that's out of your price range, it’s important to know there are affordable borrowing opportunities available to help your special wedding day become a reality.
Peach State is ready to help you and your partner create the wedding you dreamed of. Applying for a personal loan is easy! Apply online or visit any of our convenient branch locations.