After a long break (thanks, pandemic), you might have some save-the-dates posted on your fridge again. Yep, weddings are back. But your wallet may not be feeling the love. One study says guests have spent anywhere from $185 to $1,440 on average. Per. Wedding.
JLO lied to us. So before you RSVP ‘yes’ (assuming you’re ready to start socializing IRL again), protect your bank account and figure out how much you can afford to spend. Some helpful hints to keep in mind:
Your budget should include everything from travel to clothes to gifts. For everything from engagement parties and showers to bachelorette weekends to (finally) the actual wedding day.
Come up with a ballpark number for what you’re willing to spend for weddings through the end of the year, and start saving a little each month.
Extra credit if you set up a separate savings account just for weddings, and nickname it something fun. Experts say naming savings accounts helps create an emotional connection to your goal (aka not going broke), so you’re more motivated to keep saving.
If you can’t afford to attend every wedding you’re invited to...just say no. Prioritize the ones that mean the most to you. Once you hit your budget limit, politely decline the others. Emily Post says, yes, you still have to send a gift.
Always. Give the 60-20-20 rule a try. That’s where you spend 60% of your overall gift budget on the wedding gift, 20% on a shower gift, and 20% for the engagement gift.
The dollar amount depends on your relationship with the couple. For the wedding gift, the Knot suggests $50-$75 for a coworker or distant relative and $100-$150 for a close relative or friend. But let your budget be the final say.
You might be able to spend a little less by going in with friends on a bigger gift from the couple’s registry. Be the KitchenAid hero your friend needs. Speaking of registries, make sure to check them out early before all the reasonably priced options are gone and you’re stuck with $200 bird-shaped salt and pepper shakers.
Demand is up post-pandemic, so expect airfare and other travel costs to continue rising this year. Look for savings by checking out group rates at hotels and for flights. Yep, that’s a thing. Many of the major airlines (Delta, United, American) offer discounted flights if you’re flying with 8-10 friends. Try calling the airline if you can’t find a form to fill out online.
Relatable. But something borrowed doesn’t just apply to the bride. Ask a friend to look through her closet instead of buying something new. Or try renting.
Wedding season may be back, but that doesn’t mean you have to break up with your budget. A little planning and smart booking strategies can go a long way. So you and your money can live happily ever after.
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Skimm'd by: Casey Bond, Ivana Pino, Stacy Rapacon, and Elyse Steinhaus