Don't get discouraged Im sure you can have a wedding for $5,000...
Like I said, find a hall, rent the chairs and tables {a lot of times your church will let you borrow chairs and tables for free}, have your best man do the dj'ing {just pressing play and talking here and there, get the disposable cameras for every table, get someone to take your wedding pictures, buy a faux wedding cake and have someone make sheet cakes for people to eat with you, there are tons of ways to do it....
It doesn't have to be expensive, its just a party, I have been to weddings where the brides maids and groomsman did everything, they made the cake, the food, dj'ed, took pictures, ect. had the food as a buffet so didn't need any servers, ect...
I wish my wife would have went for that, we had 3 photographers, one that followed her around, one followed me around {before the wedding}, then one that took pictures during the wedding and after, then 2 videographers that filmed everything, I think it was around $12K in photography!!! Then the country club we got married in was over $100 per person, but we got a lot of stuff for free.... the cake was free {friend of mine owned the bakery that was his gift to us}, DJ was free {friend of mines brother is a pro dj}, the limos were free {friend of mine owns Elegant car service}, I already owned a tux {my dimensions are tough to rent, lol}, my wifes dress was a gift from a dress maker she went to college with {although she had to fly to TN to get fitted and then flew down to pick it up, would have been cheaper to buy one, lol}...
Shoot you can even get the rings for $20
His and Her Tungsten Set Silver Gold Black Wedding Band Celtic Mens Promise Ring | eBay a friend of mine that can afford any platinum/gold/ect diamond encrusted ring he wants bought him and his wife tungsten wedding bands, they last forever, I used to wear a tungsten band at work not to damage the ring I got married with...
Anyway budget the money correctly, don't start your life together in debt for a party that lasts one day, if you are thrifty you can come in under budget... Its gonna take some planning but its a lot better than wasting a ton of money, like I said if your fiance is good with it, go for it... I would have got married in vegas at the drive thru if she would have gone for it.. {I asked, and then took her silence and facial expression as a "NO"}
For DJ eqipment you can buy it for a lot less than you could probably rent it for..
http://www.amazon.com/GTD-Audio-G-622H-Professional-microphone/dp/B004443DZ2/ref=sr_1_8?s=musical-instruments&ie=UTF8&qid=1391177725&sr=1-8&keywords=wireless+mic
then a pair of active speakers for a couple hundred....