Your wedding day is more than just a mere exchange of vows. It’s a celebration of love, commitment, and the beginning of a new chapter in your life.
But let’s face it, weddings can be pretty dear and often require significant financial planning.
However, don’t stress too much if your finances can’t cover your dream wedding entirely. There’s help out there.
You can explore options like personal loans to make your dream wedding a reality.
After all, your wedding day is one of the most important days of your life, so naturally, you’ll want to make it a day to remember.
The wedding budget
The Australian Securities and Investments Commission (ASIC) estimates that the average cost of a wedding is roughly $36,200.
The amounts suggested below are just a guideline. Of course, you’ll have to put your own personal stamp onto your wedding budget.
Let’s look at some essential things you’ll want to have.
Of course, if you wish to have extra frills, that could cost a lot more. However, you can still have a special day if you stick to the following budgeting.
Venue and catering
Total cost: $18,683
Generally, the larger and more central the venue, the more it will cost, but a fairly decent place can cost up to $14,785.
Depending on the services offered, and the season, this can easily (and quickly) escalate to $32,000 for a whole weekend.
Most wedding venues offer a caterer and charge about $100 per head. Try not to skimp on catering because as long as your guests enjoy their meal, they’ll leave feeling happy and satisfied.
If you plan on having an open bar, bear in mind that this can raise the bill by a substantial amount.
All in all, expect to spend about $18,683 on venue and catering – about half your budget.
Wedding clothes and accessories
Total cost: $4,271
This includes the all-important wedding dress, the groom’s suit, the maid or matron of honour’s dress, the ushers’ clothes, the page boys’ and the flower girls’ attire.
The average amount spent on wedding attire is $4,271.
The good thing is that retailers are increasingly stocking a large variety of wedding dresses, so you don’t have to have one specially made. This can drastically cut down on your costs.
You may have to spend a little longer searching for the perfect gown.
Photography
Total cost: $3,983
Forget using uncle Shane who usually snaps the family photographs. This is a once-in-a-lifetime event; you need the perfect pics and videos to immortalise this special day.
Although it can set you back about $3,983, hiring a professional photographer/videographer is worthwhile.
Of course, the price varies depending on whether you want their services all day, only for the ceremony or until the end of the cocktail reception.
Entertainment
Total cost: $2,896
If your budget is too steep, you can plug your playlist into the venue’s sound system. However, live music definitely adds a sense of romanticism to this special event.
Alternatively, you could engage the services of a professional DJ.
Flowers and decor
Total cost: $2,896
Floral arrangements usually represent 70 per cent of the decor at weddings. Using seasonal flowers can help keep your costs down, as can buying your own.
Using a florist is more costly but takes much of the pressure off you, and you can expect a fantastic result. But this can set you back about $2,896.
Ceremony
Total cost: $941
The standard ceremony costs $941, depending on what you want. For instance, if you’re going to get married on horseback, that will obviously cost you more.
Other items (cars, hair, make-up, accommodation, stationery)
Total cost: $2,534
Every bride wants to look beautiful on her wedding day, so you may want to spend on professional hairstyling and make-up.
As for invitations, getting them printed is the traditional way, but you could also get creative and do it yourself.
There are many affordable options for your honeymoon too. It just depends on how important this part is, how much time off you have, where you want to go and a host of other factors.
All in all, you can have a wonderful wedding for $36,200, but just remember that the actual expenses usually go a little over budget. That’s when you may want to look at taking a loan.
If you want to learn more about personal loans, you can contact Credit24 to see what options are available.
IPF Digital Australia Pty Ltd, trading as Credit24, ABN 59 130 894 405. Australian Credit Licence 422839. The information in this article is of a general nature and does not take into consideration your objectives, financial situation or needs. Lending criteria, fees and charges apply. For more information about our products, eligibility criteria and terms and conditions, please visit www.credit24.com.au