How much can a wedding cost? (accessible text version)
Average Australian wedding costs*
- $18,683 – Food, alcohol & venue
- $4,271 – Wedding clothes and accessories
- $3,983 – Photography
- $2,896 – Entertainment
- $2,896 – Flowers and decorations
- $941 – Ceremony
- $2,534 – Other (cars, hair, makeup, accommodation, stationary)
- $36,200 – Total cost
* IBISWorld, ‘IBISWorld Industry Report X002 Weddings in Australia’, April 2012
MoneySmart readers survey results**
How did they pay?
- 18% used their credit card
- 56% contributions from their parents
- 60% got a loan
- 82% used their savings
Sacrifices made
- 5% moved back in with parents
- 6% didn’t marry due to high cost
- 10% sold car
- 20% put social life on hold
- 25% delayed plans: (12% buying a home, 7% having a baby, 6% having the wedding)
- 32% had a cheaper wedding
Wedding budgets
- 43% stayed within their budget
- 35% blew their budget
- 18% didn’t have a budget
Suprisingly expensive costs
- Photography
- Food
- Flowers & decorations
Weird wedding costs
- Transport – helicopter, elephant, donkey, pink cadillacs
- Decorations – custome-made bobble heads of bride & groom, lawn flamingos
- Venue costs – port-a-loos, temporary fencing, skip bins
- Ceremony – doves, butterflies, bagpipes
** MoneySmart survey, December 2013, 400 online respondents. Responses don’t total 100% as respondents chose more than one answer.
Top 10 wedding savings tips
- Talk about money early with your partner and both your parents (if they are involved)
- Prioritise your dreams and start saving early
- Make a wedding budget based on what you can afford and stick to it
- Shop around, get lots of quotes and haggle
- Don’t tell suppliers it is for a wedding
- Have an out of season wedding (winter or a Friday wedding)
- Cut your guest list (ask yourself – is this person an active part of my life?)
- Save on decorating costs by doing them yourself or enlisting a friend
- Have a backyard wedding or use a friend’s place
- Spread out your wedding bills across a few months so you don’t get all the bills at once
Remember to relax and enjoy your big day!