Wedding planning can be stressful–and costly–even for those of us who just want a "small wedding." According to theknot.com, the average cost for a wedding is over $30,000. No matter how small of a wedding you and your partner may be planning, the cost of flowers, food, and the cost of the venue can quickly add up. You also want your guests to have a good time, which can cost you on average $68 per person according to brides.com. They say your wedding day is one of the most special and memorable moments in your life, so it’s natural to want every little detail to be perfect, even down to the bridesmaids and groomsmen gifts. However, those details can come with a hefty price tag. Wedded bliss should not be met with debt, so follow these tips from financial advisor Ramit Sethi and our friends at Coinage on how to plan and save for the wedding of your dreams.
[MUSIC] Coinage. Life, well spent. Presented by Geico. I have a lot of friends who got married and they always say the same thing when they're first starting out. I just want a small, simple wedding. Over time, you get the guests from both sides, You get the flowers. And it grows and grows. You're gonna have a big wedding. It's gonna happen. Just admit it. Just acknowledge it and plan for it. I went to Denver and I met Arita there. And she came up to me and said you know I took your advice and I started a sub savings account for my wedding. She said, "I'm not even engaged yet." She thought it was weird to be saving. I think it's weird to go into this biggest expense of most people's lives and delusionally believe that we're just going to keep it small. Weddings are big, that's how it works. Plan for it, don't deny it Be realistic about how big the expense is gonna be instead of hoping that somehow it's just gonna work its way out. [SOUND] Coinage, life, well spent. Presented by Geico.