Weddings are life-changing events, but they’re also known to bust a budget or two.
Megan Rooney, a 25-year-old New York resident, will be her childhood friend’s maid of honor at a wedding this year. She’s expecting to spend anywhere from $750 to $1,000 for everything, which is right in line with wedding averages. Bankrate’s Robert Barba has more:
The survey of 2,228 adults in the U.S. finds that the members of the bridal party spend $728 on average. This figure includes gifts, attire, and travel as well as associated events like bridal showers and bachelor parties. Northeasterners like Rooney spend more; there, people in the bridal party can expect to shell out $1,070.
Guests don’t get much reprieve either—attending the wedding of a close friend of family member as a guest costs $628 on average.
The best way to manage wedding costs is to start planning early. Buy plane tickets ahead of time, find cheap deals on attire, and don’t throw money away for no reason. You can also open a dedicated wedding savings account and send money to it every paycheck.
Remember: Weddings are important, but your finances are too!