Average US Salary by State and Year

Average US Salary by State

The average salary in the U.S. is $66,622, according to the latest data from the Social Security Administration. How your salary compares will depend on your industry and skilI set, as you’d expect. What you might not realize is that your salary is also greatly influenced by where you live, since salaries go hand in hand with the cost of living.

Here’s a closer look at the average salary in the U.S. and how income varies from state to state.

Key Points

•   The average salary in the US varies depending on factors like occupation, location, and experience.

•   Recent data indicate an average household income of $66,622 in the U.S.

•   The cost of living and regional differences can impact salary levels across the country.

•   High-paying states are typically on the East and West coasts, while pay tends to be lower in the South.

•   It’s important to research salary ranges for specific occupations and locations when considering job opportunities.

What Is the Average US Salary (2025)

The national average salary is $63,795. That is the sum of all incomes divided by the number of workers. Where someone lives, their industry, education level, and current demand for that job all contribute to how much a worker earns per year.


💡 Quick Tip: Online tools make tracking your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.

Average Salary vs Median Salary: What’s the Difference?

The Bureau of Labor Statistics (BLS) provides data on median pay. As of Q4 2024, the median weekly earnings of full-time workers was $1,192, or $61,984 per year. The median is the midpoint in the data set, with 50% of incomes falling above that figure, and 50% below.

Why are the average and median income figures different? With averages, unusually high or low numbers can skew the results. For instance, multi-millionaires or billionaires might drive the average higher than what the typical worker actually makes. The median is less affected by outliers.

US Average and Median Salary by State in 2025

The following chart shows both the average and median income (in single income households) in each state, according to data from Forbes and the U.S. Census Bureau.

State

Average

Median

Alabama $53,394 $59,605
Alaska $66,130 $82,512
Arizona $63,045 $66,340
Arkansas $51,251 $54,658
California $76,960 $74,819
Colorado $71,968 $77,331
Connecticut $73,736 $81,285
Delaware $65,998 $75,674
Florida $60,216 $62,973
Georgia $61,256 $62,468
Hawaii $65,042 $78,745
Idaho $55,640 $68,781
Illinois $67,122 $66,950
Indiana $56,410 $60,351
Iowa $56,410 $61,283
Kansas $56,264 $64,518
Kentucky $54,018 $57,509
Louisiana $53,435 $53,821
Maine $60,008 $66,369
Maryland $73,632 $81,293
Massachusetts $80,330 $81,170
Michigan $60,590 $64,579
Minnesota $66,706 $72,319
Mississippi $47,569 $51,554
Missouri $57,574 $59,605
Montana $55,910 $65,242
Nebraska $58,074 $63,813
Nevada $58,906 $64,412
New Hampshire $66,102 $84,017
New Jersey $73,986 $83,102
New Mexico $57,512 $56,766
New York $78,624 $69,135
North Carolina $59,717 $61,811
North Dakota $59,051 $66,813
Ohio $59,883 $61,617
Oklahoma $53,456 $55,362
Oregon $66,706 $70,266
Pennsylvania $61,922 $66,923
Rhode Island $66,602 $72,515
South Carolina $54,246 $59,661
South Dakota $53,227 $63,862
Tennessee $56,035 $59,052
Texas $61,235 $61,460
Utah $61,069 $78,917
Vermont $62,774 $65,712
Virginia $70,054 $75,756
Washington $78,125 $86,558
West Virginia $52,208 $57,979
Wisconsin $59,509 $66,106
Wyoming $57,928 $61,866

Recommended: Salary to Hourly Calculator

Why Do States Have Different Average Salaries?

The chart shows that the average salary in some states is quite different from the average salary nationwide. That’s partly because the cost of living, which affects how much a company pays its employees, varies significantly by state.

Also, inflation impacts states to varying degrees.

In addition, industries with a concentrated presence in certain states — such as banking or automobile manufacturing — can affect the overall quality of job opportunities in that area.

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Which Regions Pay the Most?

Salaries tend to be higher in some areas of the country. Cities on the West Coast and in the Northeast have some of the highest average salaries:

•   Massachusetts

•   New York

•   Washington

•   California

•   New Jersey

•   Connecticut

•   Maryland

Remember, while these states have higher incomes, they may also have a much higher cost of living and higher housing prices.

Recommended: 25 Highest-Paying Jobs in the US

Which Regions Pay the Least?

The South is home to states that tend to pay the least:

•   South Carolina

•   Kentucky

•   Louisiana

•   Alabama

•   Arkansas

•   West Virginia

•   Mississippi

To determine what your personal cost of living is, try tracking your expenses with a free budget app for a few months.

Recommended: Biweekly Money-Saving Challenge

Should You Move to Make More Money?

It’s important to remember that just because a state has a higher average salary, that doesn’t mean it’s more profitable for workers to live there. Higher salaries tend to correlate with a higher cost of living.

Before making a major move, first try living below your means. One reason that people who make more money still have trouble paying their bills is the phenomenon of lifestyle creep. This is when your so-called needs expand to consume your current salary.

One of the most effective ways to counteract lifestyle creep is to downsize your home. Reducing your housing expenses to less than 30% of your gross income can help you pay down debt, increase savings, and become more conscious of how lifestyle choices affect spending.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

The Takeaway

The average annual average salary in the U.S. is $66,622. The median annual salary, which is often less skewed by outlying numbers, is $61,984. It’s worth noting that average and median salaries vary quite a bit by state. States in the Northeast and on the West Coast tend to pay higher salaries, while those in the South often pay less. What’s stopping people from moving to a higher paying state? Often, it’s housing prices, which rise along with the cost of living in “richer” states.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

SoFi helps you stay on top of your finances.

FAQ

How much do the top 10% of Americans make per year?

The top 10% of Americans earn $167,639 per year. Some top earners live in higher cost of living areas, so it can be more revealing to see how much the top 10% earn in your state.

What percentage of Americans make over $75K?

Only 12.1% of Americans make in the $75,000 to $99,999 range. An additional 17% make between $100,000 and $149,000, and 15.7% earn in the $50,000 to $74,999 range.

Which U.S. state has the highest salary?

Massachusetts is the state with the highest annual income of $76,600. This salary is significantly more than the national average salary of $63,795.


Photo credit: iStock/artpipi

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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What is a Minimalist Lifestyle? Minimalist Lifestyle Tips

Guide to a Minimalist Lifestyle

Many people struggle to keep up with the demands and expenses of daily life, which can create stress and anxiety. That’s why some choose a minimalist lifestyle: Fewer possessions make for easier management. Minimalists strive to eliminate anything in their life that does not serve their purpose. This leads to more physical, emotional, and financial space.

If the concept of minimalism appeals to you, read on to better understand what a minimalist lifestyle is, its benefits, and how to start on the path to a simpler, more manageable, and possibly more affordable lifestyle.

Key Points

•   Minimalist living can reduce stress, improve health, and benefit the environment and one’s budget.

•   Focus on quality over quantity when making purchases.

•   Conduct a life audit to identify and remove non-essential items.

•   Invest in experiences rather than material goods for greater satisfaction.

•   Digitize and reuse items to minimize waste and save money; unneeded items can be sold or donated.

What Is a Minimalist Lifestyle?

Minimalist living is uncluttered by superfluous items like luxury cars, excessive clothing, and purely decorative furnishings. There can be many reasons someone chooses a minimalist lifestyle; they might want to simplify their life to reduce stress, improve their health, or reduce harm to the environment. They may also want to cut back on expenses and improve their budgeting and finances.

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Recommended: Free Credit Score Monitoring

Surprising Benefits of a Minimalist Lifestyle

When you have less stuff, it follows that you have less to worry about. A minimalist lifestyle allows you to carry less literal and metaphorical baggage around.

Another benefit is that minimalists buy fewer things, which can allow you to save money. From a holistic perspective, minimalism reduces consumerism, and that can benefit the planet.

How to Live a Minimalist Lifestyle

Living a minimalist lifestyle can seem daunting for some, requiring a mindset shift. Here’s a window into a more minimalist mindset and lifestyle to give you a taste of what it involves. And don’t forget as you read that there are benefits to living below your means.

Invest in Experiences

Rather than collecting things and possessions, a minimalist lifestyle emphasizes experiences. Minimalists spend, just in a more deliberate way. For example, minimalists may spend on vacations and concerts rather than on cars and jewelry.

Audit Your Life

Auditing your life involves deciding what is most important and eliminating anything superfluous. Deciding what is most important can be difficult, but some questions to ask yourself are: How am I doing mentally and physically? What’s important to me now that perhaps wasn’t before? The answer to these and similar questions can help you pinpoint your core values and priorities.

A free budget app can help you audit your spending and evaluate how much of it is really necessary.

Eliminate Needless Expenses

A meaningless expense to one person may be valuable to another. That’s why conducting a life audit is important to help you decide which expenses are not serving your purpose. For example, a person might discover that buying gas is often unnecessary if they can manage without a car most of the time. Or that mid-price brands and gently used items can be just as nice as luxury goods.

Set Limits and Delegate

A minimalist lifestyle is easier to control. Setting limits and delegating is one way to live a minimalist lifestyle because you have less to manage. For example, you might use an accountant to do your taxes, or hire someone to manage your website. You might have fewer screens or electronics or downsize to a smaller home.

Recommended: Does Net Worth Include Home Equity?

Honor Your Priorities

The goal of auditing your life is to establish priorities to eliminate what doesn’t align with them. Part of the journey to minimalism is learning to appreciate what you have and not constantly desire new things. Perhaps you and your partner decide to live on a single income while one of you cares for the family. You may also earn less and have to economize.

Minimalist Lifestyle Tips

How do you implement a minimalist lifestyle? Because the changes can be profound, try making small changes at first as you gradually adjust to a new mindset.

Recommended: What Is the 50-30-20 Budget?

1. Declutter Your Environment and Your Mind

A great place to start is to declutter your environment. Start with your home, your workspace, your car. Get rid of things you haven’t used in a while or that you are just hanging onto in case you need them. As the space around you becomes less messy, you might find your thinking becomes more clear. You can also make some money by selling your unwanted stuff or donate items.

2. Be a Purposeful Not Prolific Consumer

Minimalists still make purchases, but the emphasis is on quality rather than quantity. An example is choosing to use one credit card that serves many purposes rather than five because each one comes with different rewards. Yes, you may benefit from free miles and cash back, but you will also have to buy more to earn those points and rewards, which is consumerism, the antithesis of financial minimalism.

3. Digitize Movies and Books

Most of us have bookcases full of books that sit and gather dust. It’s fine to keep some treasured items and classic novels, but you can also download e-books or visit your local library. Declutter your home of old DVDs, CDs, and books you don’t need.

4. Recycle and Reuse

Reusing shopping bags, refilling a water bottle instead of buying bottled water, or taking your own cup to Starbucks are ways to cut back on trash and single-use products. You’ll save money and help the environment.

5. Get Organized

As you declutter, you’ll find ways to be more organized. Find a space for things you want to keep, and use storage bins and organizers. When everything has a place, you’ll waste less time trying to locate things, and you’ll be more motivated to put things back when you’ve used them.

Recommended: The 52 Week Savings Challenge

The Takeaway

A minimalist lifestyle is appealing, considering how busy and cluttered daily life can be. You don’t have to embrace full-on minimalism immediately but can take small steps, such as establishing goals and priorities, decluttering your environment, and organizing. You can also reduce your expenses and financial obligations this way. As you progress, you may find that your mind clears, your life slows down, and you are able to budget more appropriately too.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

SoFi helps you stay on top of your finances.

FAQ

How do you live a minimalist lifestyle?

Living a minimalist lifestyle requires prioritizing and eliminating things that do not align with your values. The process of elimination will be different for everyone, but it does not have to be quick or painful. Just removing one thing or downloading a budgeting and money tracking app can help you achieve a simple minimalist lifestyle.

What is an example of a minimalist?

An example of a minimalist is someone who lives with very little furniture, or none at all, or someone who moves to a smaller home. A less extreme version of a minimalist might be someone who simplifies things by clearing items from countertops, buys few clothes, or chooses a vegan diet.

What is the 90 rule for minimalism?

The hardest part of achieving a simpler minimalist lifestyle is decluttering. How do you decide what to get rid of? The 90 rule can help. Choose a possession, and ask yourself if you’ve used that item in the past 90 days. If not, then it’s a candidate for elimination from your life because it is not currently serving a useful purpose.


Photo credit: iStock/Pramote Naksomrit

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Third Party Trademarks: Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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2023 Wedding Cost Calculator Table with Examples

2025 Wedding Cost Calculator with Examples

The question was popped, the answer was yes, and now you’re ready to plan your dream wedding. Which means it’s probably time to set up a meet-and-greet between your vision board and your bank account.

Wedding costs can add up quickly, and if you’re just winging it, it’s easy to get carried away. Using a wedding cost calculator as you work through the planning process can help you manage your money better and create a more realistic budget.

Read on for a breakdown of the costs you can expect as you prepare for your big day.

Key Points

•   The wedding cost calculator helps estimate the total cost of a wedding based on various factors.

•   It takes into account factors such as location, guest count, venue, catering, attire, and other expenses.

•   The calculator provides an itemized breakdown of costs and allows for customization based on personal preferences.

•   A calculator can help couples create a realistic budget and make informed decisions about their wedding expenses.

•   Using the wedding cost calculator can help reduce stress and ensure financial preparedness for the big day.

How Much Will My Wedding Cost?

The cost of a wedding depends on several factors, including where you live, your wedding date, and the size of your guest list. If you go all-out with a big bridal party, designer duds, and a reception for 200-plus, your bill could be significantly more than the current median of $10,000. If you decide to go with a simple ceremony at City Hall, on the other hand, followed by a modest dinner with a few friends, your total spend will likely fall way below the typical wedding cost.

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What Does the Average Wedding Cost?

The most recent SoFi survey found that the median wedding cost is $10,000. But again, that number can vary widely.

The popular wedding website The Knot says couples who live in the South typically spend a bit less on their wedding, while those who live in bigger cities, particularly in the Northeast, can expect higher costs. Trying to match or exceed the standards set by others in your social group can also affect your bottom line.

Recommended: Is It Smart to Finance a Wedding?

What Goes into a Wedding Cost Calculator?

A wedding cost calculator uses average wedding costs to help couples break down the expenses they can expect to encounter as they plan their wedding. This budgeting tool can assist couples and their families in prioritizing how they want to spend their money. (Is a designer dress a must? Is a buffet or sit-down dinner a better choice? How many guests can you really afford?)

You also can use a wedding calculator/budget as a checklist to ensure you’ve covered all the details, so there aren’t any surprises (or unexpected wedding expenses) as you close in on the big day.

Recommended: 52-Week Savings Challenge

How to Calculate Wedding Costs

To keep things in perspective and set reasonable priorities, you may want to start by designating a certain percentage of your overall budget for each cost category. A $2,000 dress, for example, would be 10% of a $20,000 budget. A $10,000 reception (venue, catering, music, etc.) would take up 50%. That would leave you 40%, or $8,000, for the rest of your costs (the tux, flowers, photography, etc.).

Knowing the average costs for various categories can also help you fine-tune your budget and save for your wedding. Here’s a look at some of the most common wedding expenditures.

Before the Big Day

You can count on racking up some wedding bills long before you hear wedding bells. (Which is why it can be helpful to use a spending app as soon as you start planning.) Here are some costs you may incur early on in your preparations:

Save the Date Cards: If you want to let your guests know waaay ahead that your big day is coming up, sending “save-the-date” alerts can help. Postcards can cost $1 each, not including postage. (Costs per item typically go down when you order more.)

Invitations: Two major factors will affect the cost of sending out wedding invitations: An elaborate invitation or one that’s designed just for you will cost more than a standard design. And, of course, you’ll pay more for invitations and postage if you have a large guest list. (Don’t forget to put stamps on the RSVP cards included in each invite.) You could end up paying from $256 to $312 for 100 to 150 invitations, but costs can go higher for more intricate or customized designs.

Wedding Planner: How much would you be willing to pay to hand over some of the stress of planning your wedding to a professional? U.S. couples spend an average of $2,100 for their wedding planner’s services, but your price may vary depending on your planner’s expertise and level of involvement, and the size of your wedding.

Marriage Ceremony

Though it’s what the big day is all about, and the reason friends and family have gathered, it can be easy to overlook the actual wedding ceremony when budgeting. Here are some costs to keep in mind:

Marriage License: This document, which authorizes a couple to marry, can cost anywhere from $20 to $110. You can get your exact cost by calling the issuance office in the county where you plan to marry. In some states, you may be able to lower the cost by taking a marriage preparation course.

Officiant Fee: The officiant is the person who is legally authorized to perform your ceremony. It can be the minister at your church or someone who performs weddings as a full-time or side gig. Officiant fees can vary from about $100 to $1,000, with most professionals charging between $500 and $800.

Ceremony Venue: Unless you exchange vows at the same location as your reception, you’ll likely have to budget a separate amount for this venue, whether it’s your church, the beach, a private garden, or a public park. The cost will depend on the location and how long you use the space. (Even if it’s a public place, you may have to pay for a permit to hold your ceremony there, or a by-the-hour rental fee.)

Churches typically ask for a “donation,” which can be a mandatory amount or pay-what-you-wish deal. Unless you’re headed to the courthouse, be prepared to pay between $300 to $1,000-plus to use a house of worship for a ceremony venue. One recent survey by the Knot found private venues averaging $12,800, which is more than the median cost of some weddings.

Decorations: The cost of decorating for your ceremony will depend on how elaborate you want to get — and what your venue will allow. For example, flowers alone can cost an average of $2,800 for a wedding, and if you want other decor, it will add to the tab.

Ceremony Music: You’ll likely want to have some kind of live music at your ceremony — maybe a soloist, the church organist, a quartet, or a band. The cost for music can vary significantly depending on how big you go, and can range from $300 to $700, depending on whether a soloist or band and the length of time they play.

Reception

The reception is typically the largest wedding expense and can include several subcategories — from food and entertainment to decorations and, of course, the cost of renting the venue where guests will gather to celebrate.

Some all-inclusive venues charge one price for catering, decorations, and more. If you have to hire multiple vendors, though, you’ll need to keep these separate costs in mind:

Venue: Depending on the size and location of the hall, country club, restaurant, etc., you can expect to pay $2,500 to $7,500 just to rent the space for your party.

Catering: The cost of feeding your guests will depend on what you serve (appetizers or a full meal) and how it’s served (buffet or by a waitstaff). Costs can range from $70 to $150 per person at high-end venues, though taking a simpler or potluck approach can bring costs down significantly. You may have to pay extra to rent serving equipment or pay waitstaff at some venues.

Drinks: If you decide to offer an open bar with unlimited alcoholic beverages, you can expect to pay $20 to $30 per person, or more.

Entertainment: Couples often argue over whether to hire a DJ or band — and cost can be the deciding factor. A DJ might charge up to $1,000 or more, depending on their popularity, equipment, and how long they’re expected to keep the party going. A live band generally charges more, often running from $1,000 to $5,000. (You may have to pay more if you have to rent sound or lighting equipment.)

Decorations: If you decide to add decorations to the venue (with ribbons, confetti, balloons, etc.), you will likely have to pay extra — from $100 to $1,000 or more. A floral centerpiece for each table might incur a separate cost, so it’s important to be clear about what’s included in your package.

Recommended: Wedding Gift Etiquette

Wedding Cake

The cake you choose for your wedding is about much more than dessert. Cutting the cake is a fun tradition and it can be a great photo opp. Design, size, the number of tiers, and delivery can all impact the cost, but plan to spend on average $500 for a wedding cake, according to 2024 data.

Photographer/Videographer

If you’re hoping to capture the best moments of your wedding, you may want to make the photographer, and maybe videographer, one of your budget priorities. Depending on the package you choose, you can expect to pay from $1,500 to $3,000 for wedding photos, though the Knot found couples spending an average of $2,900. A videographer can cost in a similar price range.

Flowers

We covered the cost of using flowers to decorate for the ceremony and reception above. Here are some other costs to consider:

Bridal Bouquet: The bride’s flowers are in the spotlight throughout the day — in photos, during the ceremony, and even at the reception. For the bouquet of your dreams, you can expect to pay an average of $250.

Boutonnieres for the Guys: If the groom will be wearing a suit or tux, a boutonniere is almost a must, and it will run from $10 to $30. Multiply that price by the number of men in the wedding party if Dad and the other guys will get them, too.

Bridesmaids Bouquets: These smaller bouquets typically cost about $80 each.

Corsages: Corsages, which can be a nice way to recognize special family members and friends, may cost $20 to $40 each.

Petals for Flower Girl: A bundle of rose petals for the flower girl to scatter can cost $20 to $25.

Bride’s Wedding Outfit

The bride’s outfit — the dress, veil, shoes, jewelry, and more — often takes up a significant amount of the wedding budget. The bride’s wedding dress alone can cost, on average, $1,800 to $2,400, though more expensive options are definitely out there. And that’s before alterations, which can add a couple of hundred dollars.

Groom’s Wedding Outfit

The groom’s gear generally reflects the formality of the wedding, but most men still wear a tux or suit. Purchasing a new tux can cost $200 to $500 or more. And tailoring may cost extra. Renting a tux can cost $100 to $200 or more.

Wedding Party Costs

Traditionally, members of the wedding party pay for their own outfits, but there may be other expenses you decide to cover if you want to help out with the cost of being in the wedding.

For example, if you’re hiring someone to do the bride’s hair and makeup (average cost: $300), and you choose to include the bridesmaids, you can expect to pay about $150 per person. As with most wedding-day costs, however, you’ll likely encounter a wide range of prices.

Transportation

If you and your wedding party hope to travel in style on your wedding day, you want to look into renting a limo, horse-drawn carriage, party bus, or some other type of transportation. Couples spend an average of $750 for wedding day transportation for a small event, but costs will vary based on location, how many vehicles you need, and how many hours you need them.

Wedding Insurance

Once you start budgeting for your wedding, you may decide it makes sense to purchase insurance to protect your investment. Wedding insurance can cover you for several worse-case scenarios. The cost of this type of special-event coverage depends on what you decide to include in your policy. The average cost of a wedding insurance policy is $75 to $550, depending on the type of coverage and cost of the event.

Total Wedding Cost Example

Until you start making calls and getting price quotes, it will be challenging to get even a rough estimate of how much your wedding will cost in total. But the sooner you start filling in some of the blanks on your budget, the sooner you’ll be able to prioritize where you want your money to go — and get a better idea of what the final bill will be.

Here’s an example of what a couple trying to determine a budget between about $14,000 and $24,000 and a guest list of 50 might come up with.

Cost

Percent of Budget

Invitations $420 3%
Ceremony: $560 4%
Ceremony Venue $310
Officiant Fee $250
Reception: $6,020 43%
Venue with Wine Bar $3,000
Buffet Dinner $2,220
DJ with Equipment $800
Bride’s Costs: $1,820 13%
Dress $1,070
Alterations $100
Shoes $200
Jewelry $200
Hair & Makeup $250
Groom’s Tuxedo Rental with Shoes & Tie $420 3%
Cake $560 4%
Flowers: $2,100 15%
Bride’s Bouquet $300
Bridesmaids’ Bouquets (2) $200
Boutonnieres for Wedding Party (5) $100
Corsages for Family (6) $200
Flowers for Ceremony & Reception $1,300
Photos $1,540 11%
Limo Rental $560 4%

How to Save Money on Your Wedding

How can you keep your dream wedding from totaling up to a nightmare cost? Here are a few ways to lower the bottom line:

Ask Friends and Family for Help

Do you know someone who’s great at taking photos? Is your cousin an amazing singer? What about a friend who’s a talented baker and cake decorator? If you can find people you trust to take the place of pricier pros, you may be able to reduce some costs — or avoid them entirely.

Eliminate Some of the Extras

If you can do your own hair and makeup, get yourself to the wedding, and/or design and print your own invitations (or go paperless), you may be able to cut some costs without asking for help.

Downsize the Guest List

This can be a tough one, but trimming your guest list is a sure way to trim costs. Consider asking your friends to leave their kids at home, or gently telling your guests that you’re keeping the plus-ones to a minimum.

Go Off the Beaten Path

Choosing an off-peak wedding date; an unusual (and therefore more affordable) wedding venue; or a wedding dress from a department store or consignment shop can save you big bucks.

Recommended: Free Credit Score Monitoring

The Takeaway

A wedding is a cause for celebration, but the costs can quickly get out of hand, so it’s a good idea to start your planning with a realistic budget. Median costs have recently been found to be $10,000 or so, but some gatherings cost multiples of that. Once a budget is set, though, as you go through the planning process, you can use your budget tracker to stay on top of your actual costs — and stay in sync with your other financial goals. In our example above, wedding costs totaled between $14,000 and $24,000 for an event with 50 guests, depending on the extras the couple decided to opt into.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

SoFi helps you stay on top of your finances.

FAQ

What is a realistic budget for a wedding?

A realistic wedding budget will be different for every couple. A wedding might cost $10,000 or several multiples of that, depending on the size of the wedding, the location, and other factors.

Is $10,000 a reasonable wedding budget?

You may have to be pickier about splurges than a couple with more to spend, but by setting your priorities early and using a budget tracker, you can get a strong start on sticking to your $10,000 wedding goal.

How do I pay for a wedding I can’t afford?

There are a few different ways you can pay for a wedding if you don’t have enough cash in the bank. One popular option is to take out a personal loan to pay for wedding expenses. Another is to apply for a credit card with a 0% introductory interest rate, which will allow you to pay off the balance interest-free for up to 18 months. Or you might consider waiting until you’ve saved enough to pay all your costs without borrowing.


Photo credit: iStock/Arisara_Tongdonnoi

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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How Long Does It Take for the IRS to Mail Tax Refund Checks?

How Long Does It Take for the IRS to Mail Tax Refund Checks?

If you’re expecting a refund from the IRS, you shouldn’t have to wait too long for your money. According to the IRS, it issues most refunds within three weeks of receiving your filing. Key to receiving your refund quickly are two actions on your part: using e-file and providing your bank info for direct deposit.

In fact, a directly deposited refund can show up in less than 21 days.

This table shows the estimated times for receiving an IRS tax refund depending on how you file and choose to get your refund:

Estimated Federal Tax Refund Schedule
Filing Method and Receiving Method E-File, Direct Deposit Paper File, Direct Deposit E-File, Check in Mail Paper File, Check in Mail
Time between filing date and receiving refund Up to 3 weeks 3 weeks 1 month 2 months

Key Points

•   Most tax refunds are issued within three weeks of receiving the tax filing.

•   E-filing and direct deposit can expedite the refund process, often under 21 days.

•   Incomplete or incorrect tax returns can delay processing up to four months.

•   Refunds may be held for manual review due to suspected fraud or discrepancies.

•   Use the “Where’s My Refund” tool or call 800-829-1954 to check refund status.

What Money Will Be Included In My Tax Refund This Year?

Of course, the size of your refund depends on how much you overpaid. But the average refund for individuals in 2024 was $2,850. That figure is up slightly from 2023, when the average tax refund was $2,753.

To get your refund faster, you may want to file earlier, rather than waiting until the last minute. Typically, the tax season, when the IRS starts accepting and processing returns, starts in late January.

When your refund does arrive, an online budget planner can help you keep track of where your money is going.

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Reasons for Your Tax Refund to be Delayed

People typically receive their tax refund two weeks after the IRS accepts their tax filing if they opt to receive a direct deposit, or in three weeks if they choose to get a check in the mail. But if you’re still waiting after that point and wondering where your tax refund is, here are a few possible reasons for the delay:

•   If anything in your return is incomplete or incorrect, the IRS may need to give the return further review before sending you a refund check. In this case, you may get a notice from the IRS in the mail with instructions for fixing or completing your tax return. It may take up to four months for the IRS to process returns that require extra handling. The sooner you respond to the IRS request for information, the sooner your return will be processed.

•   If you are claiming the Earned Income Tax Credit or Additional Child Tax Credit, there may be a delay in receiving your tax refund. The IRS is required to hold any tax returns for people claiming those two tax credits until mid-February. This hold will show up in the “Where’s My Refund” tool on the IRS site if it applies to you.

•   Your bank or credit union may take more time to post a refund to your account. The time for posting IRS refunds varies from institution to institution.

Recommended: IRS Tax Refund Dates and Deadlines

How to Use the ‘Where’s my Refund’ Tool on the IRS Site

The IRS has a “Where’s My Refund” tool on irs.gov where anyone can check and see the status of their tax refund. It can also be accessed using the IRS2Go mobile app. If you submit your tax return electronically, you can easily check on the status of your refund online within 24 hours of filing. If you mail your tax return, it will take about a month or longer for any information about refunds to show up on the IRS site.

In order to access your refund information on the IRS website, you will need to input your social security number, tax filing status, and the dollar amount that you expect to receive on the return. Double check your information before submitting it: If the wrong social security number is entered, this could result in an error, extra identity verification steps, and even a delay in receiving your tax refund.

What Do the IRS Tax Return Statuses Mean?

There are three different IRS tax return statuses that you will see when you use the Where’s My Refund tool. Here’s what they mean:

Received

Once the IRS has received a return, it is marked as received. You can check to see if your return has been received using the “Where’s My Refund” tool on the IRS site.

Approved

Once the IRS processes a tax return and there are no errors or missing information, it is marked as approved. At that point, the process of sending a refund by mail or direct deposit can begin.

Sent

When the IRS mails out a refund check or sends a direct deposit refund, the tax return status is marked as “sent.”

How to Contact the IRS About Your Tax Refund

It’s best to wait at least 21 days after filing your return electronically, and six weeks after mailing your return, to contact the IRS by phone. At that point, you can call the IRS refund hotline at 800-829-1954.

Recommended: 41 Things to Do With Your Tax Refund

The Takeaway

Knowing when you’ll receive your tax refund can be helpful if you’re planning to use the money to pay off debt, create a budget, or save for a big purchase. Filing your return electronically and opting to get your refund via direct deposit will allow you to get your return quickly, typically within three weeks. A money tracker app can help you manage your finances, including your refund, and track your spending and savings.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

SoFi helps you stay on top of your finances.

FAQ

How quickly will I get my refund?

Most refunds are sent within three weeks of the IRS receiving a tax filing, but it can sometimes take longer, especially if you mail your return or opt to get your refund by check through the mail.

It’s been longer than 21 days since the IRS received my return and I haven’t gotten my refund. Why?

Sometimes the IRS needs to manually review tax returns if they are incomplete, have errors, or if fraud is suspected. Also, if a taxpayer claims certain tax credits, such as the Earned Income Credit or Additional Child Tax Credit, his or her return may take longer to process.

Will calling help me get my refund any faster?

Calling may help you track where your refund is, but it won’t necessarily help you get it faster. Wait at least 21 days after filing your return electronically, and six weeks after mailing your return to contact the IRS by phone. You can call the IRS refund hotline at 800-829-1954.


Photo credit: iStock/rez-art

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Can a Tax Preparer File Your Taxes Without Your Signature?

There’s no denying that filing taxes can be stressful, which is why many people turn to a tax preparer to help them navigate the process. This professional can offer extra reassurance that your taxes are filed properly and may even help you maximize your refund.

But can a tax preparer file your taxes without your signature? In short, yes, they can. Keep reading to learn more about signature requirements for tax filing.

Key Points

•   Tax returns must be signed by the taxpayer or preparer to be valid.

•   Tax preparers must sign returns and provide their PTIN.

•   IRS rejects unsigned returns, requiring resubmission.

•   Verify filing status through IRS tools or by phone.

•   Report unauthorized filings to the IRS using specific forms.

What Is a Tax Preparer?

A tax preparer is a certified public accountant (CPA), attorney, enrolled agent, or other professional who is paid to prepare income tax returns for an individual or business. The tax preparer must have an IRS Preparer Tax Identification Number (PTIN) in order to prepare federal tax returns.

Tax preparers gain access to very personal information such as income and social security numbers, so this isn’t a relationship you’ll want to enter without careful consideration. Before you hire one, do your research. The IRS provides an online directory where you can find tax preparers who are near you or who have certain qualifications. You may also want to ask trusted friends and family members for referrals.

While many tax preparers can handle different types of taxes, it’s best to confirm that the tax preparer is experienced in the areas you need before hiring them. After all, a small business owner will likely have very different tax needs than an individual filing a W-2.

Recommended: Income Tax: What Is It and How Does It Work?

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What Qualifies as a Signed Tax Return?

Whether you’re preparing for tax season or are in the middle of filing your return, you probably already know how important it is to get your taxes done properly. The final step in the filing process that really can’t be skipped is signing the income tax return. If you file your taxes on your own, you need to sign the tax return. If a tax preparer helps you file your taxes, they need to sign the tax return and include their PTIN. If the return isn’t signed, the IRS won’t consider it valid.

Can a Tax Preparer File Your Taxes Without Your Signature?

Depending on their experience and area of expertise, a tax preparer may be able to offer guidance on different ways to save on taxes or help you make sense of complicated topics like income tax withholding. But these professionals can also offer a degree of convenience by signing a client’s tax return themselves and submitting it without their client’s signature. If you choose to work with a tax preparer, you’ll want to have their signature and PTIN on the tax return as proof that they prepared it.

How Do I Know if My Tax Preparer Filed My Taxes?

Tax preparers can provide peace of mind that your taxes are filed properly and hopefully help you maximize your tax refund and find potential tax breaks, like the earned income tax credit.

But if you’re wondering whether your tax preparer filed your taxes, there are ways to find out. The IRS Where’s My Refund tool , for instance, allows you to check the status of your return. You can also find out this information by calling the IRS directly. And be sure to check your inbox. If your return was filed, you should receive a confirmation and status updates by email, as long as you provided an email address.

Recommended: Guide to Filing Your Taxes for the First Time

Will the IRS Accept an Unsigned Tax Return?

What happens if you submit an income tax return — whether accidentally or on purpose — without any signature on it? The bad news is, the IRS does not accept unsigned income tax returns. The agency typically sends back the tax return with a notice asking you to sign and resubmit the return so it can be processed. If you fail to sign your tax return but file it on time, you likely will not be hit with a delinquency penalty, which can be good news for your budget.

Of course, working with a tax preparer isn’t the only way to take control of your finances. SoFi’s money tracker app can also help you stay on track year-round. You can keep tabs on multiple account balances — and your credit scores — in one place. You can also set savings goals and review your spending, so there are no surprises come tax time.

Recommended: What Happens If I Miss the Tax Filing Deadline?

The Takeaway

A tax preparer can help you navigate the tax filing process and, hopefully, maximize your refund. These professionals can also sign your tax return and submit it without your signature, though you may choose to sign it as well. If you want to check the status of your return, you can use the IRS Where’s My Refund tool, call the agency directly, or check your inbox. The IRS typically emails a confirmation and status updates on your return, as long as you provided an email address when you filed.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

See exactly how your money comes and goes at a glance.

FAQ

Can a tax preparer e-file your taxes without your signature?

Yes, a tax preparer can e-file a client’s taxes without their signature. The key here is that the tax preparer must sign the income tax return in order for it to be eligible for processing. The tax preparer’s certification number also has to be included on the tax return. If the tax preparer does not sign the income tax return, the taxpayer must sign it before it can be e-filed.

What should you do if a tax preparer files your taxes without your consent?

If you believe a tax preparer filed your taxes without your consent, you should report it to the IRS using Form 14157-A, Tax Return Preparer Fraud or Misconduct Affidavit, in addition to Form 14157.

Will the IRS accept an unsigned tax return?

No, the IRS will not accept an unsigned income tax return as they don’t consider it valid. If someone tries to file an unsigned tax return, the IRS will send it back and request a signature. The taxpayer or their tax preparer must sign the income tax return for it to be valid.


SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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