It Costs The Average Person Almost $600 Every Time One Of Their Friends Gets Married
The average wedding guest now spends roughtly $592 every time they attend a friend’s wedding.
A new survey from American Express has found that the collective cost of bachelor and bachelorette parties, wedding showers, transportation, hotels, clothing and personal grooming has gone up 75% in the past two years.
This estimate doesn't even take the cost of a gift into consideration, and it also indicates how people who are attending multiple weddings every year are left with a massive hole in their wallets at the end of the season.
This cost is up 10% from last year’s average of $539 per wedding.
American Express says that this increase also puts pressure on brides and grooms to provide their guests with extra amenities to make it all worth their while.
As a result, the survey found that marrying couples are now spending an average of $220 per wedding guest (including food and entertainment).
However, this leads guests to feel obligated to purchase more expensive gifts. The average wedding gift this year will cost about $109 for friends and $200 for close family members.
Dan Rabkin, American Express’s senior vice president of consumer lending, says: "[Guests] may feel obligated to give an appropriate gift for a wedding, even if it means they have to carry a balance [on their credit card] for a while."
Wedding registries remain a tradition, but American Express has found that more couples (55%) actually prefer to receive money as a gift.