Weddings can be expensive. From the cost of getting wedding caterers in Sydney, to buying the right dress, booking the venue, and others, it can be rather daunting, financially, to work through the big day.
Wedded Wonderland, the wedding website, recently surveyed more than 500 brides who married within the last 18 months, from June 2017 to February 2019, to find out how much a wedding costs, on average, and note that costs have been going up.
According to the website, an average wedding in 2019 will set a couple back $53,168, a 3.75% increase from 2018’s numbers. That being said, while it is an increase, the jump from 2017 to 2018, recorded at 6%, still has it beat.
This slowdown might be a good sign for couples looking to get married in the future, as it shows benchmarks indicative of healthy competition in the wedding industry.
In terms of spending on particular spending, many, including those in the industry like wedding caterers in Sydney, expect the ring to be one of the costliest bits. Wedded Wonderland’s data shows that that is exactly the case, with the ring coming in with the most expensive average cost of about $11,753.
Wendy El-Khoury, Wedded Wonderland founder says that grooms tend to splurge on the engagement ring, seeing it as a priority in budgeting and spending. They say they also think that Instagram might have something to do with the influence of size, colour and proposals in general.
The second largest cost in weddings is the honeymoon, with an average cost of $10,145, with entertainment costs trailing far behind at third with an average cost of $2,989.
El-Khoury says that couples are becoming savvier online, with product purchases now including gifting, stationery, accessories, as well as styling components, handled for the couple.
While average costs have gone up, El-Khoury noted that the wedding spending has become broader in terms of budget, with some couples opting to spend more, some opting to spend less, meaning that the actual average isn’t actually indicative of what most couples actual spend on their big day. They elaborate, saying that budget weddings sit at about 10k-20k, while luxury weddings cost 100k, at the minimum.