Wedding savings: What about the guests?

It’s wedding season, and that means opening our hearts and wallets to celebrate the couple’s special day.

According to a Bankrate.com 2018 survey, the average wedding guest cost ranges from $400 to more than $1,000. Close family members and friends spend an average of $627 each.

The estimates don’t include factors such as taking time off from work, finding the right outfit, being a member of the wedding party, or finding childcare if it’s an adult-only wedding. Destination weddings will run guests an average of $1,421 in the U.S and $2,519 abroad.

To put it mildly, love isn’t cheap.  So what’s a guest on a budget to do?

Here are three ideas courtesy of wedding planning website The Knot:

Start saving when they announce their engagement: That will generally give you anywhere from 10 to 15 months to start funding a going-to-a-wedding savings account. Who says you have to go into debt?

Be the first to hit the gift registry: It’s a good way to have the widest selection to choose from. Wait until the last minute and you may be stuck with choosing between a few high price tag items or small low-priced items. Consider pitching in for a group gift to give the couple their big ticket items. Sign up for the store’s mailing list to get sales alerts. See if there are discounts at RetailMeNot.com or if you can find the same name brand items for less somewhere else, then go back to the registry to mark it as completed.

Why buy when you can rent?:Let’s face it, with social media posts and common friends/family attending the same events, most of us can only wear a dress to one wedding. Unless it is multi-purpose outfit, that dress will likely spend more time in the closet than on you. Check out sites like RentTheRunway.com or Poshare.com and you can score some designer dresses without breaking the bank.

 

Myriam DiGiovanni

Myriam DiGiovanni

After writing for Credit Union Times and The Financial Brand, Myriam DiGiovanni covers financial literacy for FinancialFeed. She is also a storytelling expert and works with credit unions to help ... Web: www.financialfeed.com Details