We all love a wedding, but boy – they can be expensive! You better start saving your pennies now if you want to say yes to all those wedding invites
When you reach a certain age, it can seem like your entire friendship group (let alone yourself!) is getting hitched. School friends, cousins, university pals and work colleagues – if you want to attend them all then you’d better start saving now.
According to new research by Giffgaff Gameplan – the new financial arm of the mobile network – guests are spending an average of £300 per wedding. And although it’s only £193 to attend the wedding itself, it’s the whole host of other costs that tot up the total. Got more than one friend getting married in any given year? You’d better start saving right now!
So, how exactly do you rack up such a bill just to attend a wedding? Combine the cost of presents (both now and for future anniversaries), stag do’s and hen do’s (in which increasingly hens and stags are being asked to cover the cost of the newlywed-to-be as well as their themselves), a new outfit to show off and accommodation so you don’t have to rush off, and you can quickly see how costs can spiral.
“It’s interesting that millennials, who tend to have the least disposable income, are under increasing social pressure to spend on stag dos and hen dos,” said Steve James, proposition and marketing director at Giffgaff Gameplan. “And, as people get married in more far-flung and expensive locations, the cost of actually attending a wedding is going up, too. It all reflects the very millennial trend of spending your cash on experiences – particularly those shared with friends – rather than the traditional milestones of mortgages and having kids.”
The research by Giffgaff was part of a wider study into the costs of friendship. Amongst weddings, other costs included £466 a year on group holidays and £392 on Christmas presents, totalling a crazy £3,627 spent every year on friends.
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