How much does a wedding really cost?

Category: Personal Finances

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Weddings can range in cost, depending on how extravagant the couple wants their special day to be. There is a lot to consider: The location you plan on getting married at, the actual venue, the time of year, how many guests you plan on inviting, the type of food you will be serving, what type of entertainment there will be, and so on. Then there are other costs associated with getting married that aren’t part of the actual event, such as the rings, the wedding dress, and more. But how much does the average wedding in the United States cost these days? When you factor in the average costs for the various aspects of a standard wedding, it is approximately $30,000. This article will demonstrate how that cost is broken down.

Although the following breaks down the cost of a typical wedding, please bear in mind that costs can vary widely.

  • DJ: $100 to $300 hourly
  • Photographer: $750 to $10,000
  • Catering: $20 to $350 per person
  • Flowers: $400 to $5,000
  • Two wedding bands: $200 to $3,000 and up
  • Wedding cake: $1.50 to $12 per slice
  • Wedding dress: $100 to $5,000
  • Tuxedo: $100 and up
  • Reception decorations and venue rental: $300 to $10,000
  • Officiant: $200
  • Wedding invitations: $100 to $5,000
  • Wedding License: $35 (depends on the state you’re getting married in)

The list above just encompasses some of the bare essentials—for instance, if you want to have an open bar, you will need to factor in that additional cost. Also consider the costs of a rental car/limo, wedding favors, makeup artist/hair stylist, and the bachelor and/or bachelorette party, all of which can vary greatly as well. All the costs associated with a wedding can be substantially higher if you choose to go through a wedding planner (which many people do) in addition to the wedding planner’s fee.

Even though there are ways to cut down the cost of your wedding, there may be some things that you don’t want to sacrifice completely—and you shouldn’t have to. After all, it is your big day, and is meant to be the most special day of your life. But at Peachtree Financial Solutions, we understand that it’s not always feasible to have this amount of money on-hand, especially when bills are pilling up. As such, we have developed various financial situations for annuitants.

If you are an annuitant and you need a cash payout in order to pay for a wedding, whether it’s your own wedding or a family member’s wedding, we can help. We buy annuity payments from people that need to access their money now and don’t want to wait for it. It can be extremely difficult and time consuming to save the money you’re receiving from annuity payments in order to pay for a wedding. However, if you allow us to buy annuity payments from you, there is no waiting or saving needed. You will receive a lump sum payout and you can use the money to take care of things that smaller payments usually aren’t enough for, such as paying for a wedding. Depending on the total value of your annuity payment stream and the amount of money you need to pay for a wedding, you may not even need to sell all of your future annuity payments—selling a portion of them may suffice. However, if you do choose to sell all of your annuity payments for a lump sum cash payout, you have that option as well.

Contact Peachtree Financial Solutions today to learn more about how we can buy annuity payments from you for a lump sum of cash. We can also offer you a completely free, no-obligation quote. Life doesn’t wait, so why should you have to? Don’t postpone your special day because of money and don’t let the financials stand in your way. Contact us today!

Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.

Tags: financial planning, weddings

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