Bride-price: This isn’t as common these days in Taiwan. You would be quite reasonable in saying that you can’t afford this. On the other hand, I’ve known people to pay this and get the inlaws buying a house for them in return.
Cookies: The better ones are about 500NT a box and go to the fiance’s family and friends. If you have about 500 guests, factoring in families, that’s perhaps 150-200 boxes. So closer to 5000NT than 5000US. Pay it. It’s normal. (Btw they can be very good).
Photos/dresses: 20000-60000 (and up). You or the family could pay for this.
Jewellery: ??? Your or your family could pay for this.
Banquet: This can go one of two ways. Either the family pays for it all and takes the red envelope money, or you pay for it all and take the money. Probably easier the first way. People talk about making money off this, but it’s not likely to be much, if the restaurants a good one. You’d only make money if you had it at a cheaper restaurant. Basically the banquet pays for itself.
‘Monthly dowry’: As Feiren noted, they’re probably talking about the amount most children pay to their parents for upkeep. Base it on what you earn. I never pay this, but 2000-5000 is probably normal (depending on what you earn). Only children and first sons have more responsibility for this.
My advice is that if your inlaws seem to be reasonable people, keep them happy and let them do most of the work. Insist on the details that are most important to you. The wedding is a big face thing for them, and in their eyes is more about them than about you. If they’re reasonable people you might well find out that if you treat them well they help you out financially in the future too.
Brian