Financing the Perfect Summer Wedding

Colorado Wedding Planner

Venue: Vinoy (St. Petersburg, FL) Photo Credit: Hunter Ryan Photography

It’s no secret — weddings can get pricey. With a myriad of costs, some unforeseen, it’s important to have a plan for how you intend to foot the bill. Luckily, there are several options to finance your big day. But be intentional. If you’re not careful and monitoring how you’re paying, you could end up overspending without a clear sense of where all that money went. To ensure your wedding doesn’t wreak havoc on your finances, check out these strategies to help you plan and save before you spend.

Know how much a wedding costs

There are several decisions to make as you start planning your wedding. Which type of venue are you interested in? Who will be in your wedding party? What will you serve for dinner? And how much will it all cost?

The amount you spend on your wedding day varies depending on how big or small you decide to go. According to The Knot, the average cost of a wedding in 2022 can be upwards of $28,000. We are here to tell you that this number is extremely incorrect. You can’t just rely on the internet to give you proper information and statistics. Do your own research, ask close friends what they spent, and also consult a wedding planner. They can tell you based off of your wishes and desires what your wedding will cost. We tell our clients that weddings are averaging $750 – $1500/per person. See – much higher than $28,000.

Calculate a wedding budget

Once you’ve determined your target price range, start thinking about how you plan to budget. Experts say the best way to get your budget right before you even spend a penny is to have a discussion about what you hope your wedding day looks like. To keep your excitement from turning into overspending, try to be realistic here.

Are you planning to host a grand affair or something more laid back? Is the dress code black tie or cocktail? You’ll also want to make a draft of your guest list because people directly affect your budget. Think of every head walking around your wedding as $1,000. So you may want to rethink letting your bestie bring her newest Bumble date. Once you have made some decisions, create a list of everything you can think of for your day. Don’t overlook the small stuff like the little details, welcome bags, and guest gifts — they add up quickly.

As you calculate costs, you may find that your dream day is going to be way over budget. You have a few options here — look for areas to cut back, revisit your priorities, cut your guest list, elope or choose to increase your budget.

Determine your financing 

You’ve settled on a budget, and now it’s time to figure out how much you need to save to reach your goal. Contributing money each month toward a wedding account is a great way to kickstart the process. If you find it’s mathematically impossible to fund your entire wedding simply through savings, consider delaying your nuptials or taking out a personal loan to fund what you can’t cover out-of-pocket. If your families are planning to contribute to your big day, be sure to factor that into your budget as well.

Getting married is worth celebrating, but don’t let one day cost you your financial future. By doing some research, planning your budget carefully, working together to save, and choosing the right financing option, you can create a happily-ever-after that lasts long after you say “I do”.


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