Credit Karma surveyed more than 1,000 US millennials (ages 18 to 34) to hear straight from the source how much it costs to be a wedding guest these days. Between travel, lodging, gifts and attire—not to mention prewedding events and other miscellaneous expenses—wedding guest spend can hit an average high of $770, according to survey respondents.
As if that dollar amount isn’t lofty enough, 20 percent of respondents confessed to spending over $1,000 dollars to attend one wedding. Thirty-nine percent of survey takers said they’ve used a credit card, loan or borrowed money to afford guest expenses—and a small, but significant number (more than 6 percent) said they went into debt to pay for wedding costs.
So, why not politely decline and save a little dough? Twenty percent of millennials said they’ve turned down a wedding invite due to budget, but that still means 80 percent of them check “attending” and agree to incur relative guest expenses. Of course they attend because they want to celebrate with the couple (or at least feel obligated to attend), but it’s also due to the relatable feeling of FOMO. That’s right—over a quarter of respondents said the idea of missing out on a friend’s wedding is one of the biggest causes of FOMO, so much so that they’re willing to pay the literal price to keep up.
Need to save money as a wedding guest? We’ve got you.
