Current:Home > reviewsWedding costs are on the rise. Here's how to save money while planning -Blueprint Wealth Network
Wedding costs are on the rise. Here's how to save money while planning
View
Date:2025-04-13 03:10:24
Weddings are on the rise as pandemic-stymied couples get around to tying the knot. In 2022, 400,000 more couples held nuptials compared to an average year, according to The Knot.
If you are planning a wedding, higher prices for venues, catering, flowers and other elements of the celebration are likely apparent. All told, the average cost for a wedding in the U.S. was over $29,000 last year, according to The Wedding Report.
Persistent inflation is driving the rising cost of weddings, Kelcy Christy, senior editor of Inside Weddings Magazine, told CBS News. For example, rising grocery prices feed into higher price tags from caterers, she said.
A January survey of roughly 300 wedding vendors found that 83% of participants said their business expenses will increase in 2023, according to CNBC. What's more, 77% of vendors surveyed said they raised rates this year to offset the rising operational costs.
How to save
Christy tells couples to not be discouraged by rising prices, as it's still possible to host a memorable event — if you're selective about spending.
"Couples are trying to find ways to cut back and still have the weddings they envisioned," she says. "And it is possible…find out where you want to splurge and where to save."
While it may seem counterintuitive, hiring a wedding planner within your budget could actually save money, because they vendors sometimes offer them discounts, according to Christy.
Eloping and having a party with friends afterwards could be a solution for couples that want to celebrate with a smaller guest list, she said.
Couples that prefer a larger event venue will likely have to skimp on other extras, Christy warned, as hotels and resorts are among the most expensive options. Couples could consider unique and possibly cheaper venues such as a public beach — which could be free — or a private estate. One caveat: Vendors sometimes charge more to operate at these types of venues which can be logistically challenging, versus a location where they've worked before.
"You have to bring in all those rentals, when a hotel may already have those available," she said.
Another suggestion is nix welcome gifts and wedding favors for guests and instead offer more dessert options or a signature cocktail, she said.
- In:
- Inflation
- Wedding
Sanvi Bangalore is a business reporting intern for CBS MoneyWatch. She attends American University in Washington, D.C., and is studying business administration and journalism.
TwitterveryGood! (242)
Related
- What to watch: O Jolie night
- Summer job market proving strong for teens
- DC Young Fly Honors Jacky Oh at Her Atlanta Memorial Service
- How the Marine Corps Struck Gold in a Trash Heap As Part of the Pentagon’s Fight Against Climate Change
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Norfolk Wants to Remake Itself as Sea Level Rises, but Who Will Be Left Behind?
- ‘We Will Be Waiting’: Tribe Says Keystone XL Construction Is Not Welcome
- In Two Opposite Decisions on Alaska Oil Drilling, Biden Walks a Difficult Path in Search of Bipartisanship
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- See the Shocking Fight That Caused Teresa Giudice to Walk Out of the RHONJ Reunion
Ranking
- Don't let hackers fool you with a 'scam
- Do fireworks affect air quality? Here's how July Fourth air pollution has made conditions worse
- Book excerpt: American Ramble: A Walk of Memory and Renewal
- Global Warming Means More Insects Threatening Food Crops — A Lot More, Study Warns
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Norfolk Wants to Remake Itself as Sea Level Rises, but Who Will Be Left Behind?
- These 20 Secrets About the Jurassic Park Franchise Will Find a Way
- Amy Schumer Says She Couldn't Play With Son Gene Amid Struggle With Ozempic Side Effects
Recommendation
Woman dies after Singapore family of 3 gets into accident in Taiwan
Dyson Flash Sale: Save $200 on the TP7A Air Purifier & Fan During This Limited-Time Deal
Trump Budget Calls for Slashing Clean Energy Spending, Again
Blur Pores and Get Makeup That Lasts All Day With a 2-For-1 Deal on Benefit Porefessional Primer
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Please Don't Offer This Backhanded Compliment to Jennifer Aniston
Pregnant Olympic Gold Medalist Tori Bowie's Cause of Death Revealed
World Is Not on Track to Meet UN’s 2030 Sustainable Energy Goals