When it’s OK to spend just $20 on a wedding gift.
Weddings are super expensive — for the guests.
One in five people has declined an invitation to a wedding because they couldn’t afford to go, according to data from Bankrate. And no wonder: Wedding guests tend to spend a ton on everything from the travel to the gifts. Indeed, members of the wedding party spend an average of $728 on the wedding and associated pre-parties; those who are close friends or family members spend $628; and more distant friends and family members drop $372, according to data released Wednesday by Bankrate.
One of the biggest costs? The gift. Wedding guests tend to spend about $50 to $100 per gift, experts say, but spending varies significantly, depending on a number of factors.
“A minimum amount to budget [for a gift] would be $20 for a co-worker, $50 for a friend and $100 or more if family.”