Welcome back to Money & Matrimony! Once a month on the OIMDE blog, I take a look at the financial side of weddings and events, and dig deep to untangle the seemingly mind-numbing money hoops when planning a wedding.
We’ve looked at wedding budgets puh-lenty of times on this blog, but honestly, I really wanna dig deep into the “why”.
Why do you want to have a wedding? Are big weddings worth it? Is it better to have a smaller intimate weekend, than a giant wedding where you invite everyone you know?
Today, I want to examine those really big wedding purchases just a bit more. That way you can get an idea of where your money is going to the most, and then think of they’re worth it.
What are the biggest wedding expenses?
Venue: The venue is often the biggest expense when it comes to weddings. Depending on the location and time of year, prices can vary greatly. A popular wedding venue in a big city can easily cost thousands of dollars for just a few hours. Worth it? The biggest thing to consider is the practicality of size. How many people are you inviting and can you fit them all? Once you’ve got that down, think about what the reasons are for the space you’re looking at. If you’re still good to go, I say go for it!
Food and beverage: Feeding your guests is another significant expense. This includes not only the cost of the food but also the cost of staffing, rentals, and any necessary permits or licenses. Worth it? Yes!! At the very least, it’s good to have food for your guests. As to how you want that presented, buffet or plated for instance, is up to you, and can also alleviate some costs.
Photography and videography: Capturing the memories of your special day is important, but it can also be pricey. Hiring a professional photographer and videographer can easily cost several thousand dollars. Worth it? Absolutely! But again, you can scale back if you need to. Do you absolutely need the beautifully created short film about your day? Maybe not, but it can be a beautiful heirloom to have. Do you want at least a few nice photos to make sure your grandparents have? Definitely.
Floral arrangements: From the bouquet to the centerpieces, flowers are a staple in most weddings. The cost of floral arrangements can add up quickly, especially if you choose exotic or out-of-season flowers. Worth it? This one is a bit in the air. Flowers always add a sense of magic and can really elevate a wedding like no other. There are more cost effective options available, for instance wooden flowers, but in the end I say have at least a few flowers in mind.
Wedding dress and attire: The bride's dress is often a significant expense, but don't forget about the cost of the groom's suit, bridesmaid dresses, and tuxedo rentals. Worth it? This one really is person to person. Many people don’t see themselves wearing the outfit again, so the question is do you think you want to spend that money for what will turn into an heirloom in your closet. Something passed down generation to generation. For many people, that’s already a win there.
Entertainment: Whether it's a live band, a DJ, or a photo booth, entertainment is an important part of many weddings. This can be a significant expense, depending on the type and quality of entertainment you choose. Worth it? Entertainment can turn a good reception into a memorable one. So I always suggest entertainment. And it’s your wedding day, why not make sure it’s extra special? If you can afford it, I say yes.
Wedding planner: Hiring a wedding planner can be a wise investment, but it can also be a significant expense. A good wedding planner can help you save money in other areas, but their fee can still add up. Worth it? A planner can absolutely make sure your wedding is staying afloat. There is certainly a premium cost, but in the end you can do less of the stressing, and all of the enjoying.
Are big weddings worth it?
Now that we know what the biggest wedding expenses are, the question remains: are big weddings worth it? The answer, of course, depends on your personal preferences and priorities.
On one hand, a big wedding can be a once-in-a-lifetime event that you and your guests will remember for years to come. It's a chance to celebrate with loved ones and make memories that will last a lifetime. If you value having a large, extravagant celebration, then a big wedding may be worth the expense.
On the other hand, weddings can be incredibly stressful, and a big wedding can make things even more complicated. The more guests you invite, the more logistics you have to worry about. A big wedding can also put a strain on your budget, which can lead to financial stress down the road.
From the perspective of an event planner, the answer is not black and white. While some couples may feel that a big wedding is worth the expense, others may find that a smaller, more intimate celebration is just as meaningful. As an event planner, it's important to understand your clients' priorities and help them make the best decisions for their individual circumstances.
