Going to a wedding?
Weddings can be a costly business. New research from CreditExpert.co.uk shows that attending a wedding typically costs £386 per guest.
This is largely due to stag and hen parties, which at an average cost of £130, are becoming increasingly elaborate and often include travel abroad. Next is the wedding gift (£70), a new outfit (£64), travel costs (£49), accommodation (£48) and drinks (£26).
According to this research, 1.6 million people have gone into debt in order to attend a wedding!
Jim Hodgkins, Managing Director of CreditExpert says: "The cost of getting married and attending other people's weddings is often underestimated, but it's a significant outlay that often hits hardest those who are first-time property buyers or those still burdened by student debt."
With many people in their 20s and 30s being invited to multiple weddings every summer, we’ve put together some top tips for cutting the costs of being a wedding guest.
Stag/Hen parties: average £130
If you’ve been invited to the stag or hen do… get involved in the planning. You might be able to influence the activities towards cheaper options: stay in the UK, avoid hotel and travel costs, etc.
Gift: average £70
Gift lists are often primarily for family members, so think outside the list and find something small that you know they’ll appreciate. How about a gift of time or help? Perhaps you could pledge to help them fix up their new house for a day, or lend your skills in the garden.
Outfits: average £64
Women – avoid spending loads on a new outfit. Go high street and smarten up a cheap outfit with sophisticated accessories. If you have a few weddings lined up, buy a decent, versatile outfit and wear it all through the season. Also, it’s likely that many of your friends will be going to at least one wedding this summer. Why not have a mutual dress-swap – assuming you’re not going to the same wedding, no one will know it’s not yours!
Men – if you’re looking to hire a suit – don’t. With rental prices around £50-80, it might be worth buying instead, especially since you’re likely to use it again and again over years to come. And if you’re happy to rent you might as well buy second hand – they’ve both been worn before! You can pick up some quality suits in charity shops that will have only been worn a few times.
Travel: average £49
If you know other guests who live in your area, try your best to share lifts. It’ll cut your costs and save parking hassle at the venue too.
Accommodation: average £48
Do you really need to book a hotel? If the distance is not too great it might work out cheaper to club together with some friends and hire a rental car and driver. If you do have to stay the night, try cheaper alternatives such as hostels, B&B’s or campsites! And book early, as prices often vary quite widely.
Drinks: average £26
If the reception has a bar, set yourself a budget for the night and stick to it. It’s easy to do if you limit the cash in your wallet and leave your card at home!
Want to get in control of your cash?
Find out more about Setting a Budget.
Attending a wedding this summer?
Find out why Kev Kennedy would rather not.
Written by Becky Williams. Posted on 17th July.
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