How To Stay On Track With Your Wedding Budget
To help stick to your wedding budget and keep wedding spending separate from your other finances, it’s often a good idea to open up a dedicated joint bank account for your wedding expenses. In the lead-up to your wedding, you and your spouse can set aside a certain amount monthly into this account. Free budgeting tools and apps can help you manage wedding expenses that have a tendency to add up such as party favors, photos, transportation and accommodation for out of town guests.
If you’re confused about how to make a budget for your wedding, think about approaching it in a similar way to how you create your personal budget. What are the things that you must have at your wedding and what are things you could sacrifice if need be? Whenever you make a decision about a vendor or add-on service, first ask yourself what you can afford to pay. Your wedding is a big moment for you and your spouse-to-be, of course, but breaking the bank for it isn’t a great way to begin your marriage.
If You Dont Attend The Wedding Do You Still Have To Send A Gift
This may come as a surprise to you, but the answer is yes. A gift is just a small gesture and a way for the couple to know that they are important to you. After all, they invited you sincerely wishing that you would be joining them to celebrate, thus sending a gift is the least that you can do, especially if you are not attending their special day.
Average Cost Of Engagement Ring By State
The national average engagement ring cost in 2019 is just over $6,000. People in South Dakota spend the least with an average of $3,005. Washington spends the most on engagement rings with an average of $10,109, while California comes in second at $9,482.
Here is the average spend on engagement rings per state:
2019 engagement ring sales data courtesy of Ritani.
Also Check: Which Ring Goes On First Engagement Or Wedding
Tips To Help Determine How Much To Spend On A Wedding Gift
Accepting a wedding invitation is pretty much a contractual obligation to get the happy couple a gift, and no one wants to look like a cheapskate when the presents are opened. However, accepting a wedding invitation also means taking the costs of travel and lodging to attend, which can put a severe dent in your budget. So, how can a guest balance all these financial obligations and give the couple a great gift?
Here are five tips to help you figure out how much you should spend on a wedding present.
How Much Should One Person Spend On A Wedding Gift
When youre giving money for a wedding gift and attending solo, etiquette says you should spend about $50 to $75. But you may want to also consider the couple youre celebrating. If its a coworker, or someone you just catch up with from time to time, the lower end of the spectrum is appropriate. For a close friend or family member, consider going higher, to the $75 range, or even to $100.
Also Check: Where Can I Find A Nice Dress For A Wedding
Can I Give Wedding Gifts That Arent On The Registry
About to Wed couples come up with wedding registry ideas that suit their needs, fit their lifestyle, and are valuable to them. As such, if they are out of your budget range, you can get the wedding gifts, not on the registry. But whatever you get for them should align with their ideas, so that the couple will be able to use the gift.
If you have a very close relationship, you will know their tastes and the things they would love. If youre absolutely certain, you can buy them something not on the registry and it will be a hit!
Average Wedding Venue Cost
Where you get married can be one of the biggest drivers of cost, as the price tag of the most expensive venues can be several thousand dollars more than the least expensive.
In fact, according to Wedding Forward, here’s the average cost of different wedding venues:
- Community or event center: $2,000 to $24,000
- Country or private club: $2,000 to $18,000
- Banquet hall: $2,000 to $23,000
- City buildings: $4,000 to $23,000
- Museum or art gallery: $4,000 to $11,000
- Brewery or winery: $5,000 to $10,000
- Hotel or resort: $5,000 to $74,000
- Barn: $6,000 to $13,000
- National or city park: $7,600 to $14,000
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How To Save Money On Your Wedding
For some couples, using a dedicated may be a great way to not only manage expenses but also earn bonuses such as mileage points toward your honeymoon travel. However, you should keep in mind that interest charges can easily add to your total debt balance if you don’t pay off your purchases quickly. A can give you some time to pay off these purchases without paying interest. Alternatively, a personal loan could help you cover your wedding costsjust make sure that you’ll be able to afford the required monthly payments.
The best way to pay for a wedding, however, is with cash. Paying in cash will mean you can enter your marriage without wedding-related debt, and might even mean some leftover funds for other life goals such as buying a house. It can be difficult to part with a lot of money at one time, so consider setting up automatic withdrawals from your checking accounts as early as possible in the planning process to save a predetermined amount for your wedding fund.
If you’re not able to cover the full cost of your wedding, you might downsize the event, cut some expenses or make other changes to your plans. There are many ways to do so:
Why 2 Months’ Salary Rule No Longer Works
Did you know the two month’s rule was started by a De Beers ad? De Beers happens to be the same company that convinced the entire world that men need to propose with a diamond.
If you obey DeBeers’ rule, that means that if you make $3,000 per month, you should spend roughly $6,000 on the ring.
However, that rule has some serious flaws. After all, it was invented to get you to pay more money to a diamond retailer.
how much to spend on an engagement ring based on your salary
First of all, most people get married in their late 20s, when they are still in the beginning of their careers. They haven’t come close to reaching their full earnings potential. Plus, you have to calculate what you actually take home in net pay as opposed to your gross salary. Unfortunately they are quite different.
Secondly, most people graduate with student debt. Combined with the increasing cost of living, spending thousands of dollars on a ring may not be feasible. Especially when you’re trying to get out of debt as quickly as possible.
If you want to stretch your budget further, check prices online first. Online retailers offer good quality, usually for much cheaper than a local jeweler.
Here are some of the most popular online sellers:
Recommended Reading: Where Can I Sell A Brand New Wedding Dress
Your Budget As A Whole
The first thing you should always consider is the budget you have for your wedding. Don’t forget that you’ll have to divvy your entire budget to every aspect of your wedding. With a lot of the wedding expenses going to the venue and catering services, you may have little left to cover for your wedding rings.
Some couples will want to spend more on ensuring their big day is as perfect as possible, whereas some will splurge more when it comes to the rings. More and more people are pouring an increasing amount of money into their wedding bands nowadays. This is often because they want to have something to show on their social media profiles. How much you should spend on your wedding rings depends on whether or not you are looking for a flashy or expensive ring. If your financial situation is favorable, you have plenty of options to choose from. At the end of the day, you’ll want to choose a ring you love because it will be on your ring finger for the rest of your life.
Do I Need To Buy A Gift For Every Wedding Event That Im Invited To
Not to sound like a broken record, but yes, you should purchase a gift for each event. We knowbuying this many gifts can be tough. If youve are invited to the engagement party, the shower, and wedding, we suggest planning ahead and setting a budget for gifts in advance. To make things easier on your wallet, follow the 20-20-60 rule, which dictates that you spread out your spending like so:
- 20% on the engagement gift
- 20% on the bridal shower
- 60% on the wedding
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Whats Your Personal Budget Or Current Financial Situation
First and foremost, you should never spend more than you can afford on a wedding gift. If money is tight, adjust your gift budget accordingly. The couple is more concerned about your presence than your present.
If youre not in a comfortable financial space, then it doesnt matter what anyone suggests regarding how much to spend, said planner Summer McLane of My Simply Perfect Events. There is no need to overextend yourself financially in order to keep up with social norms.
If you have several weddings to attend in a short span of time, particularly if youre acting as a bridesmaid or groomsman in any of them, be sure to take that into account as well. You dont want to rack up major credit card debt just to be there.
And if youre really in a tough spot financially like a grad student on a shoestring budget you have a few options: Give what youre able to give, chip in a smaller amount towards one of the pricier items on the couples registry or just write the couple a heartfelt card expressing your congratulations. You can also get creative and do something thoughtful that wont break the bank.
If you are on a tight budget, a simple card is absolutely acceptable, said etiquette expert Elaine Swann, founder of the Swann School of Protocol. Otherwise you can, perhaps, download some photos from their social media page and give them one photo in a nice frame or create a photo booklet from an online resource.
What To Tell A Girl While Proposing
What To Say When Proposing To Your Girlfriend
- 2) How she makes you a better man and how she inspires you.
- 3) When you realized you wanted to spend the rest of your life with her.
- 4) And how you cant see the rest of you life without her.
- 5) Tell her how much you love her and how your life is incomplete without her.
Read Also: What To Look For In A Wedding Venue
Who Walks Mother Of Groom Down Aisle
As the wedding begins, the grooms mother will be escorted down the aisle, to the first pew, right-hand side, by the head usher or a groomsman who is a family member. A nice touch includes the groom escorting his mother down the aisle. As the grooms mother is escorted to her seat, her husband will follow along behind.
If I Have A Plus One: How Much Should A Couple Spend On A Wedding Gift
You are not under oath to bear any extra gifts if you attend a wedding with a date or group of friends. But if you have a close relationship with the couple, you are morally bound to come with a gift double the cost or a bit over one adult head. This is to show support to the couple and pay for the extra plate of food.
As such, really close friends with a plus one should spend about $180 $250. For others $80 $160 is fine.
Read Also: What Is Needed To Officiate A Wedding
Wedding Cost Breakdown: Here’s What The Typical Wedding Budget Looks Like
The data below shows average wedding costs for different spending categories, according to Wedding Wire:
- Venue: $10,500
- Makeup artists wedding party : $70
- Hairstylist wedding party : $70
- Catering : $70
Not all couples will incur all of these expenses, and some will choose to spend far less on certain areas in order to splurge on others.
Let’s take a closer look at variation in costs for some of these major categories.
Dont Let The Numbers Fool You
The $19,000 average is steep and thats lower than in recent years, due to smaller-than-normal celebrations during the COVID-19 pandemic. But remember that averages dont tell the whole story. Experts point out that they can easily be skewed.
One $1 million wedding can bring up the average of thousands of $10,000 weddings, says Jessica Bishop, wedding expert and founder of the Budget Savvy Bride.
So treat this data as a benchmark, not an expectation. And you don’t have to spring for all the items on the list. For example, you might decide to skip favors and hook your smartphone up to a speaker system instead of hiring a band or DJ.
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Should I Buy A Gift If I Cant Attend The Wedding
“Emily Post has always attested to the fact that you should always send a gift if invited unless youve truly been out of touch for a considerable length of time,” says Carlson. “Id like to think, however, that there is absolutely an understanding that if you decline the invitation and are not in a financial position to send a gift, then you dont, and thats OK. Instead, send your warm wishes with a handwritten note.”
If youre a close friend of the couple, its probably best to send a wedding gift. If, on the other hand, your distant cousin invited 300 people to her wedding and you feel like you were invite number 299, a sweet note of congratulations on the RSVP card is sufficient. If you do decide to send a gift, feel free to spend less than you might spend if you were attendingthat $30 wine opener is still a lovely token of congratulations that the couple will surely appreciate.