Millennials will spend nearly $900 to attend weddings

Millennials to spend nearly $900 to attend weddings

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Millennials to spend nearly $900 to attend weddings

On average, wedding guests will spend $703 per wedding.

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USA Today Network WUSA-TV, Washington 1:27 p.m. EDT April 29, 2016

According to American Express, millennials will spend $893 on average to attend a wedding in 2016.(Photo: Maria Teijeiro, Getty Images)

WASHINGTON — It's wedding season. Do you know how much you're going to pay to attend your best friend's wedding? Be prepared to bust that wedding budget.

According to American Express, the average costs for an American wedding guest jumps to $703 per wedding this year up 5% from $673 in 2015. Millennials will spend more than that — nearly $900, which is 27% higher than the general population.

The findings, based on data from the American Express Spending & Saving Tracker, reports that members of the wedding party can expect to spend $743, which includes $205 on airfare, $166 for attire and $69 on child care or pet costs.

USA TODAY

Say 'I don't' to debt during wedding season

Think that's expensive? Well, according to American Express, millennials spend even more. The average spending for a millennial guest is $893, while millennial members of the wedding party spend $928.

Don't forget there's still the cost of the gift. Americans expect to spend an average of $127 on wedding gifts for relatives, while the average amount to spend on a friend's wedding is $99.

And what about the wedding? More than half of Americans are using cash, debit or credit card to fund their wedding. The report found one-third of Americans will have their weddings funded by the parents of the bride or groom.

Follow WUSA-TV on Twitter: @wusa9

Read or Share this story: http://usat.ly/1TAqTWj

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Source: Millennials will spend nearly $900 to attend weddings