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SOURCE: Go Banking Rates
The average wedding cost rose in 2012 to $28,427, according to a recent survey by The Knot. However, couples wondering how to budget a wedding can use a new report from leading personal finance resource http://www.GoBankingRates.com to plan a nice event at a fraction of the average cost.
EL SEGUNDO, CA (PRWEB) March 17, 2013
A new survey conducted by TheKnot.com reveals that the average wedding cost was $28,427 for couples who married in 2012. That price tag may seem steep to many Americans, and with good reason – it’s nearly half of the national median family income of $62,273 as reported by the Census Bureau.
“The truth is a wedding doesn’t need to cost anywhere near $28,000 — a couple can definitely cut wedding costs and still celebrate their nuptials in style,” says GoBankingRates expert contributor, Stacey Bumpus.
The new GoBankingRates report itemizes the average wedding costs and provides a price range for each expense. The biggest-ticket items, the report finds, are the reception venue (including decorations), catering and a photographer. However, GoBankingRates explains where couples can cut costs on both large and small wedding expenses as they figure out how to budget a wedding.
“Sticking to the low end of expenditures, you can get away with a nice wedding that includes a lot of the major elements — most important being great food and music — for $4,835,” says Ms. Bumpus.
For questions about this report or to schedule an interview with a GoBankingRates editor, please use the contact information below.
GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. GoBankingRates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.
Jaime Catmull, Director of Public Relations
The Knot, This Just In! The Average Cost of a Wedding is $28,427, March 7, 2013.
Census.gov, Income, Poverty, and Health Insurance Coverage in the United States: 2011, September 2012.
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