Wedding season is in full bloom, and it’s not just the happy couple who will be shelling out major cash for their special day.
According to an American Express survey, guests will spend an average of $539 per wedding this year. For many, that’s a budget breaker. But, one has to believe that even this may be a low ball estimate.
Amex, for instance, suggests that attendees will spend only $167 on hotels and transportation. Yet, flying to another city could easily double these costs, especially if you bring your significant other along in tow. Add bridal showers and bachelor / bachelorette parties to the mix and costs can quickly escalate.
A CNN/Money article recently highlighted just how one man’s friends’ weddings were putting him in debt:
“Sledzik has attended six out-of-town nuptials, as well as four bachelor parties in cities ranging from Nashville, Tenn., to Austin, Texas. He tried to save wherever possible, driving instead of flying and sleeping on friends’ couches instead of in hotels. Nevertheless, between the travel, tux rentals and wedding gifts, he racked up roughly $10,000 in credit card debt, which he expects he’ll be paying off for years. The introductory 0% rate on the credit card he used has expired, and his bill is now accumulating $130 in interest each month”
Attending a wedding can impose a financial burden, but being in a wedding can really ravage your finances. After her experience in one bridal party, my mother vowed she’d never be in another. Twenty years later she still hasn’t. “I never realized the cost of the bridesmaids dresses, shoes, gloves, and other expenses,” she once told me.
But what do you do when a friend calls and asks you to be a bridesmaid? Do you decline and risk straining or losing a friendship? And what happens when you ask someone to be part of your wedding? Will you be disappointed or hurt if they turn you down because of the expenses?
Many experts advise women and men to think long and hard before accepting to be a groomsman or bridesmaid. According to the WeddingChannel, for instance, the average cost of being a bridesmaid now tops $1695.
Yet, money issues may pale in comparison to the memories of sharing a friend’s or loved-one’s joyous day. Those memories may well be worth any price.
BMWK, have you ever skipped a wedding because of the costs? Have you ever declined an offer to be in a bridal party? Is cost an important thing to consider in attending a wedding, or is the value of sharing a loved one’s special day simply priceless?