A wedding is an extremely exciting time in a couple’s life – but there’s no denying that financing the average Australian wedding can be a bit of a headache, packing a serious financial punch for those who aren’t aware. Add the word “wedding” to any venue, flower purchase, catering service – just about anything – and you’ll find the costs rise significantly.
In a survey undertaken by Easy Weddings, which includes over 3,500 engaged and recently married couples (in the period of 2020 – 2022), the average amount spent for an Australian wedding was $34,715. That’s not exactly spare change. From the dream dress to the delicious canapés, every detail adds up, leaving many couples wondering how to bridge the gap between their budget and their vision of a perfect day.
Here’s a breakdown of the cost of the average Aussie wedding, and how a personal loan for wedding expenses can help.
Breaking Down The Budget
While it’s difficult to put an exact number on your wedding costs, there are a few parts of the wedding that always stand out when it comes to adding expense to your big day.
Venue Costs
Venus costs are among the most expensive parts of a wedding, depending on location, size and catering options of course. Easy Weddings gives us a starting cost yet again, and states that the average venue cost is $15,000.
Catering And Beverages
Catering is another large cost associated with weddings, and can go anywhere between $5,000 and $10,000. However, keep in mind that catering costs are often included with your venue hire, and the number of guests will also determine the overall cost. While an open bar is always fun for your guests, cutting this out can significantly help save money.
Photography And Video
This is something you shouldn’t skip out on. Many photographers offer packages that let you choose the number of photographers on site as well as the number of photos you get to keep, so try and find a balance that works for you. You’re likely looking at around $3,000 for a wedding photographer on the day.
Flowers, Decorations And Entertainment
For beautiful floral arrangements, expect to pay around $2,000. You’ll need to consider centrepieces, ceremony décor, and of course the bride’s bouquet. On top of this, entertainment needs ro be considered. The cost can vary quite a bit depending on your choices, whether it be a DJ, live music, and the inclusion of guest activities such as photo booths.
Officiants And MCs
For officiants and MCs, you’re looking at paying around $400 to $1,500. To be considered a married couple in Australia, you will need an authorised marriage celebrant, but you don’t necessarily need an MC!
Other Odds And Ends
From makeup to wedding hire cars, your wedding cake and more, be sure to factor these into your budget to get a better scope of what you may be spending. This can add a few thousand more to your budget.
Planning Your Dream (And Not A Debt Nightmare)
Did the above list make you feel a bit dizzy? Just remember, your wedding doesn’t have to break the bank. Here are some cost-saving tips for keeping the costs down.
Set Yourself A Realistic Budget
Before you go searching for venues and picking out delectable wedding cakes, be sure to discuss your financial comfort zone with your partner and stick to it! Also make sure that you prioritise what matters most. Maybe you don’t need the fancy wedding hire cards, the bridal party can do their own makeup, or perhaps you can find creative ways to cut corners in other areas.
Embrace Off-peak Wedding Seasons
This is one of the best ways to save money on a wedding! Consider getting married during non-peak months like winter or weekdays – this can potentially secure better deals from venues and vendors.
DIY Whenever Possible
It’s time to get crafty! Handcrafted decorations, personalised favours, or even a playlist curated by the couple can add charm and save money on costs such as DJs and live music.
Seek Other Alternatives
To save a bit more money, you can explore renting wedding necessities, utilise local bakeries instead of expensive multi-tiered cakes, or opt for more affordable photography packages.
A Personal Loan For a Wedding?
We understand that even with careful planning, some couples might require additional financial support. A personal loan for wedding expenses can be a viable option – but as it goes with any sort of loan, you just have to be smart about it. This means borrowing only what you can afford to repay, so be sure to consider your income, existing debts, and future financial commitments before taking on a loan.
You should also shop around for competitive rates and terms by comparing offers from different lenders and choose the one that aligns with your budget and repayment capabilities. Be sure to use your chosen loan responsibly, allocating the funds exclusively towards wedding expenses and avoiding impulse purchases.
Remember, your wedding day should be a celebration of love, not a source of financial stress. At Buddii Finance, we understand the importance of planning your dream wedding while staying within budget.
Contact us today to discuss your options and explore responsible financing solutions, so you can focus on saying “I do” without any financial worries!
