| On the average, local weddings cost $26,000+ |
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By: By ERIN EDGEMON Business Editor
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Editor's Note: This is the third in a series of wedding-related stories set to run in February, a month when many couples get engaged and start planning their weddings.
Valerie Mobley wanted to give her daughter her dream wedding, but she had no idea the big day would end up costing so much.
"My daughter basically said I want this, this and this, and I said we have $10,000 and let's make it work," Mobley said. "When it was all done, we spent $30,000."
Mobley is not alone.
The average cost of a wedding in the Murfreesboro area is $26,580, according to data from The Wedding Report.
A few extra details can easily raise the price tag of a wedding by several thousands of dollars depending on the type of reception, flowers and number of guests.
For those who can't afford such a lavish affair, there really isn't much help out there. Parents or the engaged couple can get a personal loan from their bank or just do whatever they can to fit the occasion in their budget.
Some say hiring a wedding planner who can secure special deals will save money and valuable time, and others are of the opinion that doing it yourself is the biggest money saver.
Mobley's daughter, Amy Ragsdale, wanted a winter wonderland theme for her Jan. 6 wedding.
Ragsdale's father built the scenery, complete with wooden deer and sled, real trees and sparkling lights, for the wedding at a price tag of $500 saving the family thousands of dollars.
Meg Walker said her family has saved thousands of dollars by using a wedding planner. The budget for her wedding slated for June 2 in Savannah, Ga., is $15,000.
Heritage South Credit Union offers a 1 percent lower rate on personal loans for weddings, said Lynn Knowles, financial services representative at the Murfreesboro branch of the Shelbyville-based credit union.
Lee Moss, president and chief executive officer of MidSouth Bank, said the bank doesn't have too many clients who come in asking for a wedding loan. Personal loans are available for such an occasion.
"The majority of weddings that are financed are paid for in full, or the majority of it would be paid for by the parents," he said. "It is highly likely that someone else would pay the loan or co-sign it for young adults that are getting married."
For smaller amounts — a few thousand dollars — Moss expects couples are charging wedding expenses on their credit cards.
Wilson Bank & Trust offers a bridal registry for newlyweds. It is a money market savings account where friends and family can deposit money for the couple.
The program is designed to help the couple purchase their first home, said Phyllis Jamison, mortgage assistance administer for the Lebanon-based bank, but the money can be used for anything.
Once couples are signed up, Wilson Bank & Trust will post a wedding announcement in the local newspaper notifying the public of the wedding and of the account.
Brentwood-based wedding planner Alice Hendry said weddings are becoming more intimate affairs with fewer guests.
"Weddings are really changing and that is driving the cost a different way," she said. "They are becoming more cost effective that way."
Hendry is having more brides and grooms split the cost of weddings giving grooms a more vested interest in planning the event.
Weddings planned by Hendry usually range from $10,000 to nearly $80,000.
Usually the reception eats up more than half of the wedding's entire budget, she said. That price could be higher or lower depending on if alcohol is served, the type of food offered and the number of guests.
Hendry recommends couples or parents set up a separate bank account to pay for wedding expenses. This will allow them to keep a better track of how much money is being spent and where it is going, she said.
She also recommends maintaining a spreadsheet of the expenses and keep track of extra fees and taxes that could be tacked on by a caterer or reception hall.
Couples should prioritize and spend more of their budget on what is the most important to them, Hendry. She highly recommends to clients that photographs are the only keepsakes from the event, and that they should consider investing more in that area.
Starting planning early, at least nine months in advance, and interviewing photographers, florists, cake designers and others that would be providing services is essential, Hendry said.
Walker recommends having the wedding dress and even bridesmaids' dresses custom made. It may not seem like it, but in many cases it is a lot cheaper to have a dress made than to order or buy one off the rack.
Having her wedding outdoors has saved Walker's family a bundle, she said. The wedding is going to be held at Forsyth Park in Savannah, Ga. It only costs $200 to rent the park for the evening.
The bulk of the budget for her wedding is being spent on renting the reception hall at $3,000, photographer at $3,000 and the catered meal, which she estimated will cost around $4,375.
Erin Edgemon can be reached at 869-0812 and at eedgemon@murfreesboropost.com.
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