With COVID restrictions easing around the world, weddings are back!
During the pandemic shutdown, weddings came to a sudden halt and were either canceled or postponed.
Now as couples walk down the aisle things are different. While many couples are hosting large gatherings, there are those who want smaller, micro weddings. No matter the size, couples and wedding guests can expect a bit of sticker shock as vendors try to keep their businesses afloat and meet the increased needs. Bottom line: expect to pay more.
A recent Zelle consumer behavior report says that 52% of people are likely to attend a large gathering in 2021–22. Yes, weddings will be a lot for the bride and groom, but what about the wedding guests who are filling up their schedules with celebrations?
How do you budget as a wedding guest?
Are you attending one or more weddings? Here are some tips to budget as a wedding guest without getting into debt.
Prioritize Your Event Schedule
Many postponed weddings are now back on, which means that your social calendar is way busier than it used to be—no more virtual bachelorette parties in your pajamas. However, don’t feel pressured to do it all. Pace yourself and prioritize which weddings and social events you can attend based on your comfort level and funds.
Pro Tip: Look at locations, dates and times, and be mindful of how you will be spending your money. Get this all on a calendar so you can keep track of critical dates without them sneaking up on you.
Create a Wedding Spending Budget
If you are part of a string of bachelorette duties and events, it can take a toll on your wallet. Estimate how much you will be spending for a wedding, and if it doesn’t meet your budget, have a conversation about what you are comfortable with and work together with your crew.
Pro Tip: Be honest with the bride or groom. Let them know that you are committed to helping them celebrate and honor their occasion, but that you need to be mindful of your finances. Ask them what the most important events are.
Give the Gift of Money
A Zelle study says 76% of people across all generations prefer to receive money rather than a physical gift. To lighten the load for you and the bride and groom, send them money via a P2P service, like Zelle, PayPal and Venmo. They get the money directly in their bank account within minutes and can use it for whatever they choose.
Remember to Celebrate
It’s been a challenging two years, and the great news is that people are starting to safely gather to commemorate new beginnings. Try to take a deep breath, go through your checklist and enjoy the moment.