When Financing A Wedding Becomes A Collective Responsibility

Nowadays, it has become common for couples to finance their wedding using a combination of their own funds and contributions from both sides of the family. According to The Knot, a wedding-planning website, parents typically contribute around 51 percent of the wedding costs, while the couples cover the remaining expenses.

The level of expectations regarding financial contributions can vary based on the couple’s financial situation and their families’ cultural or socioeconomic backgrounds. However, considering the average cost of a wedding is approximately $35,000, it is not unreasonable to ask parents to contribute if they can afford it.

Prior to requesting financial assistance, it is essential to establish a budget that includes all potential expenses such as venue fees, floral arrangements, non-floral decor, photography, stationery, transportation for guests, a day-of coordinator, officiant fees, music, cake, gifts for the wedding party, the bar, and dinner at the reception.

It is crucial to calculate these expenses accurately, and one way to do so is to determine the estimated guest count. Jessica Bishop, the founder of TheBudgetSavvyBride.com, highlights that the guest list is a significant factor impacting costs. To obtain the most accurate estimates, it is advisable to contact vendors for quotations and utilize resources like https://wedding.report, where one can familiarize themselves with the typical cost of wedding services in their specific area.

Once you have established your estimated expenses, it is prudent to involve your family in the review process. This serves as an opportunity to discuss whether they are willing to contribute financially and, if so, how much they are comfortable providing. It is essential to come prepared with detailed numbers and specific preferences.

In the event that your family offers financial assistance before you have the chance to ask, it is necessary for you and your partner to discuss the offer thoroughly before accepting. Even if a family member insists that there are no strings attached, it is important to acknowledge that the power of the purse may influence your wedding plans. For instance, your parents might prefer to finance a large-scale wedding when you would rather have a more intimate gathering. In such cases, you can suggest that your parents contribute to specific expenses such as floral arrangements, the bar bill, or the photographer.

If you intend to contribute to your child’s wedding, it is crucial to familiarize yourself with potential costs before committing to any financial support. If you have outstanding high-interest loans, credit card debt, or other financial obligations, you may not be in a position to make a significant financial contribution. Additionally, having three to six months’ worth of expenses set aside in an emergency fund is advisable before offering to cover any wedding costs.

Furthermore, it is important to consider future financial obligations. If your child is not your only one and happens to be the first to get married, your contribution to their wedding may set expectations regarding how you will support the weddings of your other children in the future.

Lastly, always keep in mind that the wedding is ultimately about your child’s celebration, not your own desires. The aim should be for your child to have the most authentic experience possible, and for you to feel content with where your financial contribution is being allocated.