Did You Know? Wedding Costs
Weddings are well-known as costly affairs, even for couples who opt for more laid back ceremonies and receptions as opposed to lavish gatherings. Each year, The Knot Real Weddings Study uncovers the latest wedding trends, including those related to fashion, food and, of course, finances. The most recent study found that the average cost of a wedding in 2023 was $35,000. That marks a considerable increase over just a year earlier, when couples spent an average of $30,000 on their weddings. That significant spike in just a 12-month period undoubtedly reflects the effects of inflation, which led to a notable increase in the costs of many products and services since 2022. If wedding costs are indeed surprising couples as they start to plan their big day, they can consider an approach that many before them have increasingly turned to: wedding planners. According to The Knot, 37 percent of couples hired a wedding planner in 2023, an increase of 7 percent over 2019, when the pandemic had yet to be declared and inflation had not led to such significant price increases. Wedding planners can help couples navigate some costly waters so they can avoid starting their life together with substantial wedding-related debt.
