Wedding guests will spend $774 for each ceremony in the Northeast this year, survey says
SALEM – 'Tis the season for love and empty wallets: a recent Bankrate survey revealed that the average American will spend $611 per wedding to attend as a guest this year. In the Northeast, that number rises to $774.
"I'm not surprised," said Etiquette Expert and President of Mannersmith Jodi RR Smith. "You go through a season of weddings," she explained. "You really do, and you get a whole bunch all at once and you have to budget. This is all about budgeting."
The survey found that almost one in five people will take on credit card debt to attend a wedding. "It's fine to go to weddings, but you should not be digging yourself into a financial hole," Smith explained.
Here are her tips for managing your budget in an expensive wedding season:
- Smith's advice for a gift: "I think about if I was going out for a really nice Saturday night, what I would spend on that and times it by two. And if I'm going with my significant other, I times it by four." This number can – and will – be reduced based on travel, overnight accommodations, buying dresses, etc. The more you spend to attend the wedding, the less your gift should be as a guest.
- Another gift tip: consider a theme over the course of the wedding process to save money and make it memorable. "So, I might get beautiful beeswax candles for the shower, and then silver candlesticks for the wedding, so I'm looking for ways that I can use themes," Smith explained.
- Say no if you need to! Weddings often come with bridal showers, engagement parties, bachelorette parties, and more. "One of the beautiful things about RSVPing is that you don't have to give someone an explanation," Smith said. "What you do is express regret, say 'I am so sorry that I won't be able to celebrate with you.'"
- Only attend events that are within your budget. The wedding is a destination far away, but the bridal shower is in your hometown? Consider attending and giving a gift for the bridal shower.
- Say goodbye to gift giving myths. "You give a gift based on your budget, not based on what else [the couple is] spending," Smith said.
- A little bit of credit card debt for a stay is OK. "You can go into a teeny tiny little bit of debt, so if you could pay it off in one or two credit card cycles, then that's okay, but if you are going to be in debt for another year or two years, then you need to scale back," Smith said.
