The familiar ping of a new WhatsApp group being formed to organise someone’s hen party. 

Are you; 

a) The first responder confirming your attendance no matter where or how much it costs 

b) The Archiver, you’ll deal with it later once you’ve worked up the courage to see where and how much 

c) The Fed up friend that’s over the whole Wedding and Hen party thing.

The cost of weddings and the additional celebrations associated with them have spiraled in recent years. What happened to inappropriate inflatable objects and a few drinks in the local pub? Now family and friends are expected to fork out for overseas Hen Parties, Bridal showers, expensive wedding accommodation, outfits and presents that it could soon feel like attending is a financial chore and burden.

American Express recently sent out a survey to gauge the average cost for a wedding guest to attend the festivities and it came to an eye watering £981! This included accommodation, gifts, outfits & accessories, childcare and travel that’s creeping up to £1k!. This doesn’t take into account overseas weddings that are becoming increasingly popular.

If your social calendar is looking pretty full on this year and you’re not sure how you’re going to afford it all – do not panic! There are a few things you can do to stay in control and not derail your money journey.

1.Prioritise

If you’re feeling overwhelmed, ruthless prioritisation is key. You might be able to attend a few events but not everything. 63% of Brits questioned in the American Express Survey said it was acceptable to turn down a wedding invitation if the costs were too much. 

You know what you can afford and what you can’t.

2. Set up Sinking Funds

Once you’ve decided which events are staying in the diary you can set up dedicated sinking funds. These are pots of money set aside for planned expenses like weddings, holidays and gifts. If you’re looking to attend a wedding in 12 months time and it’s going to cost £500 you need to set aside £42 per week to hit your savings goal (you can set these up in the Financielle budget tracker).

3. Create Excess

If you need to find extra income to fund your social calendar it’s time to create excess in your budget. 

INCOME – OUTGOINGS = EXCESS (What’s left over)

If you want to chat through the highs and lows of wedding season head to the Financielle community, this chat is on fire!