GOLDEN VALLEY, Minn. -- It's wedding season, and planning a "dream wedding" can often lead to financial stress.
According to a survey by The Knot, the national average cost of a wedding is now above $33,000. Dan Ament, Financial Advisor with Morgan Stanley, joined Sunrise with some tips to help newlyweds live financially happy ever after.
Here's a breakdown of how much everything costs these days...
- Venue $15,163
- Engagement ring $5,764
- Band / DJ $4,019
- Photographer $2,630
- Florist / Décor $2,300
- Videographer $1,912
- Wedding Dress $1,509
So what can couples do to ease the financial pain? Here's what Ament suggests:
- Take a look at the numbers and create a budget.
- Manage day-to-day finances.
- Set financial goals – short and long-term.
- Review your beneficiaries.
- Create a will and related documents.