CHARLOTTE N.C. – Wedding season is upon us. Bank of America data found that more than 1 in 2 Americans (56%) would decline a wedding invitation from a close friend or family member if they couldn’t afford it.
Additionally, brides spend six times more on average on a wedding dress than grooms spend on their tuxedo for the big day, according to the same survey.
The study on wedding spending trends also found:
- On average, bridesmaids and groomsmen spend a total of $1,100 as part of the wedding party.
- 3 in 5 people say the maximum amount they are willing to spend to attend a bachelor/bachelorette party is $250.
- However, nearly 30% said they are willing to spend $1,000 or more.
- 61% of people think the traditional “three month’s salary” guideline to spend on an engagement ring is not feasible in the current economy.
- However, Gen Z (54%) is more likely to think this guideline is still a good rule – compared to fewer millennials (47%), Gen X (36%) and baby boomers (28%).
Finds all things wedding related on WCCB click here.
