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Home>UPDATE: As weddings become more elaborate, guests send more regrets

UPDATE: As weddings become more elaborate, guests send more regrets

UPDATE: As weddings become more elaborate, guests send more regrets


By Kari Paul, MarketWatch

The real reason guests are declining your wedding invite

When it comes to your wedding day, it's not all about you.

If a lot of invited wedding guests are ducking out before your big day, there may be a simple reason: It's not that they don't like you, it's that they don't like your budget. The average wedding attendee now spends $1,386 per wedding (https://lendedu.com/blog/average-cost-of-attending-wedding/), according to a report from LendEDU, and friends and family of marrying couples are increasingly put off by the rising costs of weddings. Some 40% of wedding guests have skipped out on attending a ceremony due to its cost, a previous survey by travel website Priceline found. The site, which obviously has a vested interest in people booking trips, surveyed around 1,000 millennials in February.

The cost of weddings has dramatically risen each year since the recession. Most people attend three weddings a year on average, the 2016 American Express Spending & Saving Tracker (http://about.americanexpress.com/news/pr/2016/how-consumers-pay-for-others-wedding.aspx) and millennials planned to spend 27% more than the general population on weddings. The average ceremony excluding a honeymoon now cost an average of $35,329, up from $32,641, according to the most recent data from TheKnot.com wedding website.

"Have a dedicated savings account solely for wedding-related costs," said Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together (https://www.amazon.com/Broke-Millennial-Scraping-Financial-Together/dp/0143130404). "I began saving for other people's weddings about 3 years ago and it really helped reduce the burden of being invited to or asked to be in other people's weddings." The average attendee spends $529.38 on travel to and from a ceremony, $223.67 on clothing, and $329.55 on the gift, the LendEDU study found.

Don't miss: How to budget for a wedding -- that's not your own (http://www.marketwatch.com/story/how-to-budget-for-a-wedding-thats-not-your-own-2016-04-26)

"In cases where higher costs are involved, some soul-searching might be in order when deciding whether to dig deep into pockets to pay to attend," said Mark Hamrick, Washington, D.C. bureau chief of Bankrate.com, a personal finance website. "This is one reason why I'm not a particular fan of destination weddings if guests are essentially put to the test to pay dearly to attend."

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