Spring is the time when couples start talking about marriage and looking for wedding rings. Wedding and the cost of a wedding ring is not all as simple as many young people think they are and it is much more expensive. And this is also the time when jewellery stores are ready to finance a wedding set that is much more than you can afford. It is important to spend a reasonable cost and not fall into a trap of financing more than you can afford.
Problem to avoid
Here is a scenario that can often happen. Most young men want their girl to have the largest diamond engagement ring possible and jewellery stores know this. They will talk you into financing much more than couple can afford – with monthly payments. When you miss a few payments, your marriage will start out with bad credit.
Here is an estimate of what a wedding budget should be:
- Reception – 45 to 50 percent
- Ceremony – 3-5 percent
- Wedding attire – 10 percent
- Flowers and decorating items – 10 percent
- Wedding rings – 3 to 4 percent
- Video/photography – 12 percent
- Miscellaneous – 7 percent
While deciding the cost, have a discussion with friends and family and on average, a usual wedding cost round $20,040 to $33,400. These costs don’t include the honeymoon costs and other security costs. If the couple is planning for formal ceremony with the candlelit dinner in an amazing location the budget to work with might be higher than the usual ceremony planned in the backyard of your home with dessert and tea party.
Where to cut
The main factor that needs to be considered when planning and that is the number of guest you are planning to invite to your wedding ceremony. Each guest on the list will cost some money for food and drinks. So, one of the first places to save is to cut the list of guests down.