By Julia K. Pham, CFP®, AIF®, CDFA®, Wealth Advisor featured in Kiplinger
Attending a wedding can get very expensive very fast, especially if you go out of town, so here are some considerations for keeping the cost in check.
Being a guest at a wedding can be a great time: good food, flowing drinks, dancing and memories made. As someone who has planned her own wedding and attended many weddings, I find it much less stressful both financially and emotionally to attend one vs planning your own. However, being a wedding guest isn’t without its financial considerations.
The cost of attending a wedding can vary widely depending on a number of factors, including who the wedding is for, the location of the wedding, whether travel is involved and the related events leading up to the big event.
In one study, the Knot reported that the average cost to attend a wedding last year in one’s hometown, where lodging and travel were unnecessary, was 0.
Once you add in travel and hotel for out-of-town weddings, the cost jumped dramatically to an average cost of $1,600.
1. Plan travel well in advance.
And don’t feel like you have to stay at one of the hotels recommended by the couple. Often, lower-cost options, including home rentals through Airbnb or Vrbo, are just as great and make it easier to split the cost of lodging with friends or family.