Wedding Budget Breakers: The High Cost of a Modern Wedding

posted 6/19/2013 in General

No one can deny that weddings are wonderful events. Aside from the whole reason behind the wedding - two people professing their love to each other now and into the future - there's the church or ceremony site, the music, the flowers and everything else that makes a wedding memorable. 
Tying the knot is becoming a pricey event.
Weddings can also be a bit of a burden financially speaking, regardless of who is actually paying for them. In 2012, the average cost of a wedding was $28,400, or about the price of a nice new car! Cost varied by location, as those in Manhattan spent $76,687 and those tying the knot in Chicago dropped $49,810 on average.  Wow! 
If you or your son/daughter is getting married this wedding season, here's a breakdown of the things that could run up the price of the big day based on 2012's averages:
  • Reception venue: $12,900
  • Reception band: $3,000
  • Photographer: $2,400
  • Florist/décor: $2,000
  • Wedding/event planner: $1,800
  • Ceremony site: $1,700
  • Videographer: $1,600
  • Wedding dress: $1,200
  • Rehearsal dinner: $1,100
  • Reception DJ: $1,000
  • Limo: $700
  • Wedding cake: $560
  • Groom's tux: $230
However, don't let these numbers scare you. There are plenty of great resources for do-it-yourself wedding items that can really help you save. The social network site Pinterest is one example that helps you do everything from make your own invitations to creating wedding and reception playlists.
And as always, you can turn to Lincoln Savings Bank if you need extra financial guidance. Our financial experts are great resources to help you budget and finance for the big day!

Don't hesitate to contact any of our branches for more information.

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