Engaged couples are likely already prepared for the hefty costs associated with a lavish wedding, but even a low-key wedding can have some hidden costs that many people don’t expect. The following are some hidden wedding costs that can often be far more expensive than you thought they’d be.
Cost: Varies; usually anywhere from $50 to beyond $500
Why it’s hidden: Companies often don’t include the cost of transporting things to your wedding and reception (chairs, for instance) and this is an extra cost that is often tacked on.
How to avoid it: Ask your vendors what their packaging and shipping charges are upfront — if the fee is too high for your budget, explore your other options. You just might discover that you’ll actually save some cash by renting items from a more costly vendor that includes delivery fees at no extra cost.
Gratuities and taxes
Cost: Varies widely
Why it’s hidden: Although these charges aren’t exactly hidden, it’s something that easily is overlooked or forgotten about completely. Many couples are surprised just how much in taxes and gratuities that they have to pay in the end.
How to avoid it: To eliminate any chance of surprises, budget for an extra third of your total costs to cover any taxes and gratuities.
Corkage and cake-cutting fees
Cost: Often ranging from $1.50 to $2 for every bottle your reception venue opens; $2 to $5 per guest for cake
Why it’s hidden: If you use the alcohol or cake that your reception venue provides, this fee is normally wrapped into the total charges. But going with outside venders will usually increase the cost, because the workers at your reception site are the ones cutting and serving the cake, pouring out the drinks, and cleaning the dishes afterwards.
How to avoid it: Figure out the fees for going with an outside vender ahead of time. It may not be worth it in the end, and could be cheaper to go with the venders that are provided by the venue.
Do you need cash now to pay for a wedding? Whether for yourself or a loved one, Peachtree Financial Solutions may be able to help get you the money you need to pay for the expenses associated with a wedding. If you are receiving annuity or structured settlement payments, you can sell some or all of your future payments and receive a lump sum payment now. The cash you receive from Peachtree can be used to pay for bills and other significant expenses, such as a wedding. Contact us today for more information on how you can sell annuity and structured settlement payments for cash now.
Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.