How much does a wedding cost in 2019?
Your special day could cost you.
The biggest day of your life can cost more than you think, with the latest data from Wedded Wonderland finding couples spend more than $50,000 to tie the knot.
The data, which came from a survey of more than 500 brides, revealed the median cost of a wedding in 2019 was $53,168, a 3.75% increase on 2018.
Costs rose for a second consecutive year, with a 6% raise recorded between 2017-18.
In terms of individual costs, wedding venues remained the most expensive element with an average spend of $21,958, followed by the engagement ring at $11,753.
The overall costs of rings ballooned to $15,607 when the price of wedding bands ($3,854) were factored in.
The honeymoon ($10,145), flowers and styling ($6,832), wedding dress ($5,260), photography/videography ($3,665) and entertainment ($2,989) were the next biggest spends.
The survey also found that 33% of groomsmen and 31% of bridesmaids were required to pay for their own wedding attire and the average guest list was now 162 attendees.
Wedded Wonder Director Wendy El-Khoury said prices have risen as couples are now purchasing items that were previously not part of wedding traditions.
“Couples are spending on items that wouldn’t have been important or relevant five or 10 years ago,” Ms El-Khoury said.
“Weddings are now celebrated based on the couple’s desires, interests and how they want to showcase their love.
“They’re gifting to their bridal party, organising pre-wedding photoshoots and proposals which means on average they’re spending more.”
Ms El-Khoury said social media has played a big role in couple’s decisions to spend more.
“Today there is the Instagrammable couple (or the millennial couple) who activates installations, entertainment, dance routines and experiences at their wedding to get people pulling their phones out,” she said.
“Brides are also a lot more in tune with celebrity engagement rings, which set the tone for what they’re are looking for, whereas 15 years ago most were just happy to get a ring that was the type of gold they liked.”
After some advice on how to save money on your wedding? Read our Q&A with Wedded Wonderland Director Wendy El-Khoury.
The Australian Securities and Investments Commission advises couples to follow these wedding saving tips before their big day.
- 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.
- Avoid telling suppliers it is for a wedding (if possible).
- Have an out of season wedding, i.e. in winter or on a weekday.
- Cut your guest list (Ask yourself ‘is this person an active part of my life?’).
- Save on decorations 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 your bills at once.
The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person's particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.