Profitt Report: Here's how much wedding guests can expect to spend this summer
Happy couples and their families, you know this all too well: weddings are expensive. The wedding website, The Knot, said they cost more than $33,000 on average last year.
However, the burden doesn’t end there: guests are paying a small fortune to attend the celebration. Just to attend a wedding, it’s going to cost you at least $370 on average according to a survey by BankRate. That number skyrockets if you’re a close friend or relative to the couple.
“If you're going to be in the wedding… you're going to spend $728,” said Robert Barba, senior analyst at BankRate, “this includes everything from the events leading up to the wedding bachelor party, bachelorette parties, wedding showers.”
Since weddings tend to come in waves, one summer of love could easily cost you a few thousand dollars.
“This shouldn't be coming out of your rainy-day fund, your emergency money, because those that's money you’re saving for your goals, right?” Barba said.
Know when to say no. Maybe you skip the pricey destination bachelor party so you can comfortably afford to attend the main event.
Last, use this years’ experience to help you better plan the 2019 wedding season.
“Save ahead of time to skate through wedding season without much debt,” Barba said.
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