Budgeting for Wedding Season

Budgeting for Wedding Season

Budgeting for Wedding Season

What is the Money Date? A weekly time to check in. 3 things we review and update: 
1. Spending
 2. Earning
 3. Savings

Quote: “You know you’re in love when you can’t fall asleep because reality is finally better than your dreams.” Dr. Seuss

Start a plan when the ring hits Facebook. According to wedding planning website The Knot, the average engagement lasts 15 months. If you know you’re going to attend the wedding, take time upfront to establish a budget and map out where there are obvious expenses.

The average cost of the wedding by guest according to The Knot:

  • Wedding Party Member: $730
  • Close Friend Family Member: $630
  • Distant Friend/Family Member: $370


This figure includes gifts, attire and travel, as well as associated events like bridal showers and bachelor parties. I would probably budget more depending on what attire you buy or how far you have to travel. Last year we went to Maui to watch our friends get married. It was certainly a lot more expensive than noted above.

How many weddings have you got planned this year?

If you’re at a certain stage of your life, you may have a lot of weddings to attend! Start planning ahead by figuring out how you can save ahead of time. I’d suggest opening a dedicated savings account for the expenses you plan to incur and save some of every paycheck there.

Be practical. Sometimes you may just have to say “no.” You may need to be focused on your other financial priorities.

Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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