Planning a Wedding with Rising Inflation

In 2019, the average cost of a wedding was $28,000. That number dropped to $19,000 in 2020, and we all know who the culprit behind that was. Yet, in 2021, costs skyrocketed back to $28,000. If you live in Miami, the average cost is closer to $30,800. The main issues leading to this are the nation-wide shortages of workers, lumber, flowers, and even champagne.

So, how exactly can you plan for this important, typically-already-expensive-and-somehow-even-more-expensive-now event?

Photographer @wanderlustcreatives

Venues

Well, one thing to keep in mind is that the vendor is typically the most expensive cost you will experience. Simply booking just the venue, without any extras like décor, staff, or catering, can already set couples back by $12,000 to $14,500. Many venues have increased their prices by 30% to cover rising inflation. Our venue, Club of Knights, has increased by only 10% in an effort to aid our couples in keeping their banks from breaking.

Budget

When it comes to budgeting for a wedding, couples will give rough estimates of how much they’re willing to spend. Do NOT do this. Discuss with your partner what the fast and hard limit is. Talk about every expense in detail, and don’t simply assume the both of you are on the same page about things. This leads me to my next point.

Prioritize

Make sure you and your partner know what is at the bottom of the list in terms of importance and what is an absolute must have! Perhaps you’ve always wanted to splurge in the type of dress you’d like, so you’ll allow more wiggle room for that. At the same time, remember what items are essential. For example, an officiant = necessary. A wedding planner or flowers (as much as you’d love them!) = not so much.

Photographer @wanderlustcreatives

Consider Non-Traditional Avenues

A lot more couples have been considering opting for the less expensive weekday weddings. The most in-demand day to say “I do” is Saturday. Choosing a weekday can aid in not just cutting costs but finding availability as well.

Trust and Communicate with Your Wedding Team

Your wedding team only has your best interest in mind. We would love to make absolutely all your dreams come true. And we’ll do everything in our power to make that happen. Therefore, if you find yourself questioning whether you can afford an open bar with top-shelf liquor, let vendors know. They’d be happy to opt for something a little cheaper. This is YOUR day, so don’t be afraid to pipe up when something may need to change.