Summer is in full swing, meaning wedding season is as well. In fact, you may have already been to a wedding or two by now. If so, think about this simple question: how much did that wedding cost you to attend?
Recent data from American Express shows that if you are a wedding guest, you can expect to spend about $673 on average per wedding. How are weddings so expensive? Here are five costs that may make you think twice about marking the “attending” box on all those wedding invites.
- The gift- are you prepared to drop $100 or more on a wedding gift? The average amount spent on gifts in 2015 is about $106. That can be in addition to the $75 or more you may have to spend if you’re lucky enough to be a part of the bridal shower.
- The hotel- depending on where your wedding is, the hotel can get costly in a hurry. The average hotel room costs $170 per night, so you may want to try and stay only one night if possible to limit the damage.
- Travel- whether you’re driving or flying, traveling to a family member or friend’s wedding is expensive between gas, plane tickets and meals.
- Drinks and tips- This all depends on what the bar situation is at the wedding, but you should assume it’s a cash bar just to be prepared. Also, be sure to tip the bartenders/wait staff. You don’t want to be that person.
- Extras- this includes things like being a part of the bachelor or bachelorette parties ($85) or being in the wedding party ($150 for tux rental or a bridesmaid dress).
While not all weddings come with these price tags, especially those that are local or don’t require an overnight stay, going to multiple out-of-town weddings can be a damper on your checking account. Prioritize which weddings are most important (yes to your childhood friend, no to your fourth cousin twice removed on your mom’s side). Send a card with a check or small gift to those whose weddings you can’t make.
While weddings are once in a lifetime events for each couple, it’s better to celebrate from afar than put yourself in financial difficulty to go to every wedding.
Good luck this wedding season!
Raccoon Valley Bank, Member FDIC