We were pretty shocked to find out how much Americans are spending on engagement rings (it’s more reasonable than one might think!). But when it comes to the actual wedding, the costs can pile up pretty quickly — and brides and grooms aren’t the only ones footing the bill. While some brides are trying to save big on their wedding by ditching the bridal party altogether, there are plenty out there who still expect their closest BFFs to be standing by their side. As we recently learned through this GoBanking study, bridesmaids and groomsmen alike will also be spending beaucoup bucks this year — some to the tune of $1,000 per wedding. With wedding season upon us, thank goodness you’re just an average guest, right? Wrong.
Welp, that’s gonna cost you, as well — especially if you’re a millennial. A new study from American Express estimates that the average American will attend three weddings per year, spending (gulp!) $703 per wedding. For millennials, that number shoots up to $893. That’s $2,679 a year! Representing an accumulation of costs such as pet care, apparel and travel, there’s no denying that that’s a pretty penny, especially when you take into account the entry-level salaries of some of the generation’s most highly coveted gigs.
On the bright side, as SVP of consumer lending at American Express, Jed Scala points out, “The big day itself can provide guests with a reason to indulge, a night out and even travel, if it’s a destination wedding.” He has a point — we do love us a chance to kick up our heels! But millennials better start saving that moolah, stat.
Are you surprised by the amount you’re projected to spend? Let us know over @BritandCo!
(h/t Elite Daily, photo via Getty)