How to Afford Your Best Friend’s Wedding

Your best friend is engaged! After you pop the bubbly and celebrate their happiness, you may quickly start to realize just how expensive it is when someone close to you gets married. If you are in your 20s or 30s, you may be involved in or invited to several weddings in any given year, and all of that wedded bliss can take a serious toll on your bank account.

We worked with Jacqueline of J.Q. Louise, a luxury travel and lifestyle brand, to uncover three tips to help you financially survive the nuptials of a friend:

Stick to a number

Before all else, it’s important to keep a number in mind. How much can you spend per wedding while still staying on track with your monthly bills? Consider the various expenses of attending a wedding, or being part of the wedding party. Some wedding-adjacent expenses you may want to budget for include:

• Wedding shower: If you are a guest, you may want to budget how much you plan to spend on a gift. Members of the bridal party may also need to chip in for decorations, food, and potentially even a venue.
  
  
• Bachelor/Bachelorette party: This one can get expensive. Some are local affairs while others are a weekend away. You may even be asked to help cover the expenses for the honoree. “For Bachelor or Bachelorette trip planning, use apps like Skyscanner and Hopper to find the best deals on flights,” Jacqueline advised. “Start looking as soon as you are invited. Hopper will tell you the best time to buy certain flights and Skyscanner can help you search around for exact flights that fit your schedule.”
  
  
• Wedding party costs: Being asked to be in a wedding is an honor, but it does come with some expenses that may be out of your control such as the cost of a dress or tux rental, hair and makeup styling, and more.
  
  
• Wedding guest costs: If you’re attending a wedding, you also have some costs you may need to consider like travel, lodging, attire, and a gift for the happy couple. “When it comes time to buy wedding gifts, check the couple’s registry for items they want, but don’t be afraid to price hunt around the internet to find the best deal or to search for promo codes to help you not only get your friends what they want, but also stick to your budget,” explained Jacqueline. Just make sure you mark your purchase off on their registry to avoid multiple purchases of the same item.

If you need to travel for any events, Jacqueline suggests booking your hotel as soon as you can. Hotel rates rarely go down the closer you get to your travel dates, so if you want to stay in the same hotel as the rest of the guests, book ASAP.

Regardless of the situation, it’s important to stick to your budget and not put yourself in a tough financial position.

PRO TIP: “We all will attend lots of weddings in our 20s and 30s and they can definitely have a negative effect on your wallet if you aren’t careful,” said Jacqueline. “One way to keep costs down is to get creative with your outfit planning. Instead of buying a new dress for each wedding you attend, try a service like Rent the Runway, where you can rent a designer dress for a fraction of the retail price without sacrificing style!”

Need Budgeting Tips and Tricks? Check out Our Learning Center Resources 

Save Up!

For some of the bigger wedding expenses you may incur when someone close to you ties the knot, you may consider setting up a separate savings account to help ensure you have enough cash for the big day and its associated activities. If you use direct deposit, you can even ask your employer to automatically deposit a set amount into this account. Saving a little over time can help take the sting out of spending so much money all at once.

Find Out Which Savings Account Is “The One” For You With Our Quiz!  

Talk to Your Friend

Good relationships - with friends, family or significant others - all start with honest and open communication. If wedding festivities and responsibilities are adding up too quickly, sit down with your friend and talk about ways you can help celebrate this special time in their life without going broke in the process. While these conversations can be difficult, it’s better to be up front so you can find a solution rather than waiting for it to be an issue.

Your friend wants what is best for you now and in the future too. Don’t feel obligated to risk your financial well-being. Our bankers at Rockland Trust have helped many people just like you navigate financial milestones from saving to buy a first house to planning for retirement. Check out our Learning Center for other helpful budgeting tips and tricks.