We know weddings are a huge investment for the couple getting married or the family (upwards of $30,000, typically) but it's also quite an expense for anyone attending the wedding, especially if they are a close friend of the bride or groom.
According to a new survey by Priceline.com, conducted with 1,016 adults over age 21 around the country, millennial men and women are shelling out quite a lot of money during wedding season. On average, millennials are spending upwards of $600 on each wedding-related event—that's not only the wedding, but the bachelorette and bachelor parties, as well as showers, engagement parties, and gifts. As a result, many of these young people (typical millennials fall between 21 and 34) are forced to skip some weddings or related events simply because it is too expensive.
So what costs the most for these young people? With weddings, 38 percent of those surveyed said it's accommodations, especially if the wedding is in a hot spot like New York or San Francisco.
And we haven't even gotten to how expensive it is to celebrate the end of bachelor- and bachelorette-hood! In the survey, 24 percent of people will spend at least $800 to $1000 (and possibly more) on a bachelor/bachelorette party. Fifty-three percent of respondents also had to travel for these events, with men, at 60 percent, traveling more than women, at 43 percent. Figuring out and agreeing on where to stay for these wild weekends (or sometimes even weeks) also seems to create a lot of tension amongst groups, according to the survey.
However, it seems that most people are fine with taking a trip, even a long one, for a wedding. The survey found that 47 percent of those who traveled for a wedding did so because they wanted an excuse to travel, 67 percent said they traveled specifically for the celebration, and 47 percent said it was because they wanted to spend time with the couple.