1
First, take your average income.
The average age to get married in the US is 27 for women, 29 for men.
The typical salary for Americans aged 24-35 in 2023 is $55k with the average living cost of living for a single adult being almost $40k.
That does not leave a lot of room to spare and have access in the bank.
2
Next, take the average cost of a wedding.
Now let’s look at the numbers for the cost of a wedding in 2023.
According to weddingstats.org, the average cost of a U.S. wedding is between $29-31k, honeymoon not included.
If you are planning to get married in a major metropolitan area, expect that cost to rise.
3
Then, do the math!
With a salary of $55k and living expense of $40k, that gives you $15k to save if you choose not to have any leisure time or added expenses like emergencies, holidays, going out, or traveling.
So you would need to save for at least 2 years, having no additional expenses and time off to have your dream wedding. All this is factoring in that you are not expecting your parents to fork out the large amount of money for your dream wedding.
Go on a honeymoon!
First, you want to spend time together—lost in your love and the excitement of getting married—and go on a honeymoon. This could be somewhere local or abroad. According to Forbes, the average cost of a honeymoon is around $4,470. That can be a big cut in the budget added to the wedding.
Find a place to live together.
In most cases, you don’t have a place to fit the both of you and your belongings. Hunting for a new place, putting money down as a deposit, and possibly new furnishings, is in order!
Average rent according to RentData for a 1-bedroom place ranges from $611 in Arkansas to $1,600 in D.C., with rents on the rise; expect the prices to increase in metropolitan areas. When going to a 2-bedroom place, expect rent to rise an average of $200 a month.
