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The Cost of Weddings Reaches New High in the US - What it Means for CouplesSalem-News.com
The Knot 2016 Real Weddings Study surveyed nearly 13,000 US brides and grooms married in 2016
(SALEM, Ore.) - While the number of weddings may be on the decline in the US, it appears the budget is growing, as a record new high of wedding spending is set in 2017.
According to a survey done by The Knot, couples are now spending more per guest than ever before. The average price of a wedding in the US is now $35,329, despite the fact that the average number of guests has dropped.
So just what is this money being spent on and what does it mean for couples thinking of getting engaged? Let’s take a closer look.
It Starts with the RingsBefore the wedding happens, there needs to be an engagement, which is where the spending begins. Buying diamond rings has never been easier in terms of variety and options, but with the average cost of an engagement ring hitting $5,000 in the US, it isn't necessarily affordable.
Experts suggest that rather than get caught up on what is expected of them, couples should instead set a budget and look for options within their price point. It's a good idea to spend some time looking at the options, asking questions, comparing prices, and decide which of the four c's matters to you the most.
Entertainment Has BalloonedAnother area that has seen a significant increase in spending is with the entertainment. It used to be that wedding entertainment wasn't even a thing, but now couples are looking for ways to "wow" their guest through shows, dances, circus acts, fireworks, photo booths, and more.
The amount being spent on these custom guest entertainment experiences has now tripled from 11% back eight years ago to 41% today.
Location Helps Dictate the PriceOf course, the wedding venue will help dictate the price, as well as the city they are getting married in. Results show that the most expensive city to get married in is Manhattan where an average of $78,464 is spent on the wedding - well above the national average.
Arkansas is ranked as the cheapest place to get married, coming in well below the national average at $19,522.
Parents Are Still Helping OutAs far as who is paying for the wedding, it seems as though tradition is still playing a part. The bride’s family pays on average about 44% of the total cost of the wedding, while the grooms’ parents contribute just 13%. The bride and groom absorb 42% of the costs.
Additional IncreasesThere were other categories that have seen increases as well, including the cost of the DJ and/or band and the photographer. Some areas saw smaller increases though, such as the groom's attire and the bride's dress, which only increased by small amounts.
Plenty of Money is NeededAs you look at current statistics regarding the cost of weddings, one thing is very apparent and that’s the fact that you’ll need a fair amount of cash to hold a typical wedding nowadays.
Source: Salem-News.com Special Features Dept.
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