40 Percent of Couples Tie the Knot for $10,000 or Less

by Monique Barrett

Nov 4, 2015

© Shuo Wang | Dreamstime

Wedding

Nearly 40 percent of couples exchanging vows in 2014 spent $10,000 or less on their weddings, according to The Wedding Report, a research company that tracks wedding industry trends.

 

“Not everybody buys everything,” Shane McMurray, CEO, The Wedding Report, told USA Today. “People that are spending that little, they’re basically just not spending money on certain things. They’re not spending $20,000 on the venue. Maybe they did it in someone’s backyard.”

 

The average spent on a wedding in 2014 was about $26,400, according to The Wedding Report, while The Knot reported the average was a bit higher.

 

A recent survey conducted by The Knot revealed the average wedding cost is approximately $31,200, but notes price is skewed by cost of services in different areas and advises weddings cost more in large urban areas.

 

USA Today offered a number of money-saving tips for those who are planning nuptials and trying to cut costs. Sarah Shewey, founder and CEO, Happily, a wedding planning service, recommended in a USA Today article to cut the guest list. Shewey noted the number of people invited significantly affects the price of the most expensive features of a wedding, including venue, catering and furniture rentals.

 

Skipping the wedding planners also can dramatically cut costs, with a full-service planner costs an average of about $3,000, according to The Wedding Report. Reconsidering timing also can help, with a Friday or Sunday wedding likely being less expensive than a Saturday wedding.

 

USA Today also advises only serving beer and wine, noting open bars are still possible, just without the hard alcohol in order to save money. Buying wholesale can also reduces costs.

 

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