How to Budget for Friends’ Weddings

A beautiful envelope arrives in the mail with great news: your friend is getting married. But along with the celebration comes the cost of attendance, which can easily start at a few hundred dollars or more.

If you don’t have much wiggle room in your budget for attending weddings, you’re not alone.

“Economic factors such as inflation can increase the cost of travel, accommodations and even wedding gifts, making it harder to budget for weddings,” Mark Stewart, a CPA at Step by Step Business, wrote in an email.

Here are some strategies that can make wedding attendance possible on a budget.

The Cost of Attending a Wedding

First, how much do guests typically pay to attend weddings? The average cost is $580, according to the latest data available from The Knot, up $120 from 2021. It can vary significantly, however, depending on the wedding location.

Average wedding attendance cost breakdown:

Local weddings: $250.

Weddings out of town (drive): $680.

Weddings out of town (fly): $1,600.

Wedding gift: $150.

If you’re in the bridal party, you’ll likely need an even larger budget — especially if you’re a bridesmaid. Additional costs can include:

— The bachelor or bachelorette party/trips

— A bridal shower

— A “Yes to the Dress” party

— Professional hair and makeup

— More expensive attire than you may otherwise purchase

— Shared accommodations for the night before the wedding

Depending on your friend’s bridal party plans, pre-wedding activities can add a few hundred to a few thousand dollars to your expenses.

How to Budget for a Friend’s Wedding

Shelling out $500 or more to attend a wedding can be difficult. Here are four steps that can help keep wedding attendance costs under control:

1. Assess Costs Early

Time is your friend when it comes to budgeting. As soon as you receive the “save the date” notice, start planning for the costs, such as:

Travel and accommodations: One of the first things to consider is the location of the wedding. Is it local or will you need to travel? Will you need to book a hotel and budget for meals while away?

Wedding gift: Check the registry right away and plan the amount you want to spend on a gift.

Attire: Think over what you’ll need for yourself, your date and any other dependent family members who will attend.

Bridal party events: If you’re in the bridal party, touch base with the bride or groom to get an idea of their plans for pre-wedding events like the bachelor or bachelorette party. You don’t want any surprise expenses down the line.

2. Start a Savings Fund

Once you have an idea of the amount you need to save, create a savings plan. Assess your income and expenses between now and the wedding to figure out the amount you can save out of each paycheck.

It can also help to open a dedicated savings account to separate the funds and track your progress. At this stage, highball your cost estimations so you don’t end up short.

3. Look for Opportunities to Save

As you prepare to make purchases, look for ways to save. Here are three ideas:

Save on Travel

If the trip requires travel by plane, consider using credit card miles to cover the airfare or opening up a new travel card that offers a sizable welcome bonus.

“The Chase Freedom Unlimited card offers a $150 cash bonus when you spend $500 in the first three months. That cash back can come in handy to pay for some of your wedding expenses,” Andrea Woroch, a budgeting expert, said in an email.

Use a tool like Skyscanner or Google Flights to monitor flight prices and find the best deals. You can often get cheaper tickets if you buy in advance and look for the cheapest days to fly.

According to the 2024 Air Travel Hacks report by Expedia, domestic airfare should be booked 28 days before departure and international airfare should be booked around 60 days out.

If you’re driving, you may want to carpool with friends to split the cost of gas. You can also plan to use the most fuel-efficient vehicle available to you and a gas credit card that offers rewards on gas purchases. The Wells Fargo Autograph card, for example, offers 3x points for every dollar spent on gas purchases.

Save on Wedding Gifts

When it comes to the wedding gift, don’t delay if you’re going to buy something from the registry. The later you shop, the slimmer the pickings.

“Wait too long, and you may be stuck picking between the random soup ladle and expensive espresso machine,” Julia Pham, a certified financial planner and wealth advisor at Halbert Hargrove in Long Beach, California, said in an email.

Another approach can be to join forces with a fellow wedding attendee, or a group, and split an expensive item from the registry. You can also get creative with where you shop to uncover savings.

[RelatedHow Much Money Should You Give for a Wedding Gift?]

“Hit up the dollar store for cards where you can scoop them up for as little as 50 cents each, rather than paying the ridiculous $5 or more at big-box stores. Also, grab tissue and gift bags or other wrapping paper while you’re there,” Woroch said.

You may also be able to find expensive gifts listed on the registry at a discount at warehouse stores like Costco, she adds.

And keep in mind, expensive doesn’t always mean more meaningful. If you’re on a budget, you can opt for a unique item that’s more sentimental and personalized.

[Read: The New Wedding Registries: What Newlyweds Want Now]

Save on Wedding Attire

As for attire, you don’t have to go to an expensive department store and buy a brand-new outfit, shoes and jewelry. Start by digging through your closet. Perhaps you have the shoes but no dress, or vice versa. You can also ask a friend or family member to borrow part or all of an outfit.

If you don’t have any luck finding an outfit for free, consider a secondhand or discount store.

“Save by shopping gently used options through sites like eBay or Poshmark, and there are even a variety of sites that cater to reselling bridesmaid dresses like PreOwnedWeddingDresses.com,” Woroch said.

You can also rent attire. If you’re only going to wear it once, why buy it and let it collect dust? Woroch said to check out the website Rent the Runway.

“On Rent the Runway, you can find ball gowns or short dresses for all types of occasions (they even have a guest of the wedding category) for a fraction of the cost. You can also rent evening bags and jewelry to help you cut down on costs,” Woroch said.

[Related:Say Yes to the Different Dress]

4. Consider Financing Options

If you need to purchase something before you’ve saved for it, like airplane tickets, look into financing options like personal loans, credit cards or buy now, pay later programs.

All can help you cover the costs upfront and pay them off over time, but don’t forget about interest and fees. Before agreeing to a loan, consider the costs, benefits and repayment terms.

What if a Friend’s Wedding Isn’t in the Budget?

If you run the numbers and a friend’s wedding doesn’t fit into your budget, you may need to politely decline the invite. The economy has been hard on many people over the past few years, and any friend worth having will understand your decision.

“When it comes to breaking the news to the bride or groom that you can’t attend an event, simply be honest. Be straightforward and tell them you would love to go, but doing so would put you in a bad financial position,” Pham said. “A good friend may be disappointed, but will get it.”

If you can’t attend, you can plan something else in the future like a celebratory dinner at your place or a thoughtful gift.

More from U.S. News

How to Save for a Wedding

Should You Get a Prenup?

15 Affordable Wedding Venue Ideas

Should You Get a Prenup?

How to Budget for Friends’ Weddings originally appeared on usnews.com

Update 09/30/24: This story was previously published at an earlier date and has been updated with new information.

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