A wedding invite can spell 'cost' as well as confetti!
Nearly a quarter of wedding guests spent between £250 and £500 according to new research released by Equifax
Anyone still checking the post for their invitation to a certain event on 19th May could be disappointed. But, according to new research commissioned by Equifax, the cloud could have a silver lining. It appears that the costs of attending a relative or friend’s special day could quickly add up, with one serial wedding guest recently reported to have spent £9,000 over 4 years going to the hen dos and weddings of friends1.
It’s always good news to hear that friends are getting married and exciting to be invited to their special day. But the costs can stack up. Nearly a third (30%) of those who responded to the Equifax survey2 said they would be prepared to spend between £101 and £200 on their outfit. And 23% spent between £250 and £500 on the last wedding they attended. Having several friends getting married in the same year could prove very expensive!
And whilst common thinking may be that women spend more on a friend or relative’s big day than men, the Equifax research reveals the opposite. Just over a quarter of men (26%) spent between £250 and £500 on the last wedding they attended, compared to 20% of women. Plus, 34% of the men surveyed said they would spend between £101 and £200 on their outfit, compared to 26% of women. However, any suggestion that women guests make do with an existing outfit is quickly dispelled – with just 9% of women choosing this option, compared to 17% of men.
Lisa Hardstaff, credit information expert at Equifax comments: “Most people love a good wedding, but some may dread the expense that comes along with the celebrations. With nearly a third spending between £101 and £200 on the outfit alone, once you add in the cost of a gift, travel and a hotel, not to mention the hen or stag do, the costs add up. All it takes is a few weddings in a year and the honour of being a wedding guest becomes a financial burden.
“It’s clear from our survey that people feel compelled to spend, whether it’s to look nice or just getting into the spirit of the day. Some thrifty guests choose to wear an outfit they already own, which is one way to cut costs. But that may not go down too well if you’re attending the marriage of an heir to the throne and his American fiancée!”
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Equifax Inc. (Equifax) is a global information solutions company that uses unique data, innovative analytics, technology and industry expertise to power organizations and individuals around the world by transforming knowledge into insights that help make more informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs 10,400 employees worldwide.
Equifax Limited is one of the Equifax group companies based in the UK.
Equifax Limited is authorised and regulated by the Financial Conduct Authority.