New Study Reveals Couples Have Bigger Budgets for the Big Day
When it comes to weddings, bigger seems to be the new better. A recent study shows that couples have now have greater budgets for their Big Day than ever before. In 2014, couples spent an average of $31,213 on their nuptials, which is a record high.
The study, which was conducted by popular wedding site The Knot, surveyed some 16,000 people who were married between January 1, 2014 and December 31st, 2014, according to the Huffington Post.
The study found two major trends from 2014. One is that guest lists got smaller, and the other is that budgets actually grew. So, while couples are inviting fewer people to their weddings, they’re also spending more money on them.
Why is this the case? According to Kristen Maxwell Cooper, Deputy Editor of The Knot, it’s because couples are focusing more on giving their guests a good experience.
“Couples are focusing on putting their money towards the celebratory part of the day for a couple of reasons,” Cooper told ABC News. “For one, more and more couples have friends and family coming from out of town and they want to show them a great time and make it worth their travels.”
“I do think the trend these days is people are spending more now in areas such as flowers, live bands, and linens than they were a few years ago,” said Angela Kaiser, catering sales manager at Deerfield Golf Club. “Usually were the most spending takes place is on the reception — that’s what the Big Day is all about these days.”
In 2013, couples did spend more on guest-related parts of the wedding — $1,184 on their rehearsal dinners and $457 on the morning after brunch. The average budget for the ceremony and reception alone was over $28,000.
The study also found that couples are opting for more unique venues that suit their preferences and personalities. According to Hudson Valley Weddings, 35% of weddings now take place outdoors. Alternative venues in 2014 were banquet halls (24%), historic buildings or homes (14%), hotels (11%), country clubs (11%), and farms (6%).