According to the latest American Express Spending & Savings tracker, those of us with someone’s “big day” marked on the calendar can plan to fork over, on average, $539 per wedding!
Here’s how it breaks down:
• Travel: $167
• New apparel and accessories: $161
• Wedding gift: $108
So, what’s a celebratory, but sensible game plan?
For starters, remember that it’s the big days, plural, not day — engagement parties, showers, rehearsal dinners, bachelor and bachelorette parties, the wedding. Be sure to look at the overall event schedule and related costs. If you’re in the bridal party, you can expect to pay more, because there are other related costs.
Although there’s no exact formula, generosity shouldn’t mean running up a credit card tab you’ll still be paying down when the couple celebrates their first anniversary. How well you know the couple is a factor, and if they’ve given YOU a gift, you may want to reciprocate at a comparable level.