Weddings celebrate commitment. But often, participating in or even attending a wedding will require a financial commitment from you. And according to a Bankrate.com survey, the average price tag varies with the generations.
“Older folks are a bit more generous with their gift-giving then millennials,” says Robert Barba, an analyst with Bankrate. “I don’t think that means that millennials are cheap, though. I think it means that millennials are taking into account that they probably have multiple weddings to attend this year.”
The survey says being in the wedding party will cost, on average, 728 dollars.
“And that includes everything from attending the wedding, the gift, attire, as well as attending bachelorette and bachelor parties and wedding showers,” Barba says.
If you’re close family or friends with the couple, plan to spend around 628 bucks. Even if they are part of your distant family or a fringe friend group, the survey says you’ll still spend 372 dollars.
“There’s no reason you shouldn’t start saving the minute you see that ring pop up on your Facebook feed or Instagram,” Barba says. “Use points to travel, if you can. Sign up for a new credit card that has a great introductory bonus on points. Also, the best advice is knowing when to say no.”