When it comes to wedding advice, there's no lack of handy tips out there to help people lower the cost of their nuptials.
And that's all well and good—if you're the one getting married. But what if your financial stress stems from the fact that you have to shell out some serious money just to be a wedding guest?
According to a recent American Express survey conducted in the spring, 30% of respondents said that they planned to attend one or more weddings in 2013—and the average cost for showing up for just one of them came in at a whopping $539. That's up 60% from $339 in 2012! Get started with a free financial assessment.
Get started with a free financial assessment.
The Great Wedding Guest Bow Out
So how many of these pricey weddings can the average person attend before blowing their own budget?
The simple answer: not many.
Another recent poll—this one by American Consumer Credit Counseling, a financial education and debt management service—found that 43% of wedding guests have had to decline invitations due to budget concerns.
But the real eye-opener was another stat from the same poll, which found that 36% of respondents would "willingly enter into debt to go to a wedding." If you've been reading your LearnVest, you already know that "attending the wedding of a college roommate who I didn't like all that much" isn't a reason to rack up consumer debt.
So the next time that you need to pass on a wedding invite due to finances, just remember: You're not alone.