Wednesday, October 5, 2022

How Much To Spend On Wedding Gift

How Much Is Too Much To Spend On A Wedding Gift

Wedding Gifts: How Much to Spend on Them

Wedding planning website The Knot reported last year that the average amount spent on a wedding gift in 2019 was $120. While this average obviously isn’t a universal requirement, it could provide an idea of how much you may want to spend on a wedding giftand how much might be too much.

The Knot goes further by breaking down the percentages you may want to assign to gifts for the couple:

  • 60% of your total allocation for the wedding gift
  • 20% of your total allocation for the wedding shower gift
  • 20% of your total allocation for the engagement gift

Applying that math, if your entire budget for the couple is $300, you’d spend $180 on the wedding gift, $60 on the wedding shower gift and $60 on the engagement gift. The Knot recommends that if you’re not invited to the wedding shower, you might shift the extra 20% toward the wedding gift.

So, how much is too much to spend on a wedding gift? While there’s technically no maximum amount, be sure to stay within your budget and weigh your relationship with the couple. Even if you aren’t very close with the couple, consider the cost of putting on a wedding and look at your gift as a way to thank them for the invite.

Chip Into A Group Gift

When it comes to wedding gift etiquette, group gifts are always acceptableâin fact, we encourage them. Couples will likely add a few big-ticket items to their wedding registry, which are perfect candidates for group gifts. If the to-be-weds registered for something that’s out of range for just one person to afford, ask some other guests to go in on it with you. The couple will be touched by your generosity, and you might even be able to save some money depending on how big your group is. Just be sure that everyone who chips into the gift signs their name on the card. This wedding gift etiquette rule is essential, because it’s the only way the couple will know exactly who to thank for it in their thank-you cards.

Do You Give Cash Or A Check For A Wedding Gift

In certain cultures, cash wedding gifts are a given. If you have the choice between giving a cash or a check, its really a tossup. Giving cash is certainly easier for the couple, but you may not have the exact amount of cash you want to give lying around, so a check might be easier for you. But there may be security concerns related to giving a check. So in the end, its all about your comfort level and preferences.

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Think About Your Relationship With The Couple

How much you spend on a wedding gift may vary based on how much you know one or both members of the couple. You likely won’t be hurting anyone’s feelings if you spend modestly on a friend from college you haven’t seen in years. If it’s your best friend, brother or sister getting married, however, you might go all out and spend hundreds of dollars on something special. But don’t go overboard if you can’t afford it. Someone close to you shouldn’t take it personally if you’re struggling financially and don’t spoil them on their wedding day.

If you plan to show up to the wedding with another person, such as a date, you might consider bumping up the price tag for the gift to make up for the cost of the food and drink your companion will be consuming.

Also, keep in mind that if one or both members of the couple previously gave you a wedding gift, you may want to take that into account when deciding on how much to spend on their gift.

Determine An Overall Wedding Gift Budget

The Ultimate Guide To How Much To Spend On Wedding Gifts ...

At the end of the day, your budget will determine how much youll spend on a wedding gift. This is especially true if youre working under certain constraints, particularly ones out of your control. For example, if your finances have been negatively affected by COVID-19, youll have to take that into consideration when setting a budget and making a purchasing decision.

Even if youre not experiencing financial constraints, its important to set a budget youre comfortable with not just for the wedding gift itself but for all the things that come with a wedding celebration. Once you have your overall gift budget nailed down, start perusing the couples wedding registry to discover gift ideas that work for you.

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I Have Spent As Little As 16 On A Cake Set

I have been to more than 30 weddings with my husband and we usually spend around £50 on a gift. There are times when I have spent less, usually when Ive seen a really good present that is perfect but comes with a smaller price tag. In those cases I havent felt obliged to give more money because its really not about that.

I have spent as much as £75 but as little as £16 . It was less than I would usually spend but I had spent a lot on flights to travel to the wedding. I wanted to get him something British that he could hopefully keep forever. I was really pleased with the gift.

Technology means couples are now more direct about what they want. They set up gift lists and honeymoon funds. There are mixed feelings about that because some people find it rude to be so specific, but I find it helpful. Particularly if Im not tuned in to the couples taste.

  • Michelle, 33, London

Here’s How Much You Should Spend On A Wedding Gift According To Financial Experts

Wedding season is officially in full swing, which means we’re in for lots of dancing, dressing up, and toasting to happy couples. But one of the downsides that come along with attending weddings? Purchasing pricey wedding gifts. We’re all for celebrating the love our nearest and dearest have found, but with the huge spike in weddings that were rescheduled or postponed due to the pandemic, the cost of wedding gifts is racking up fast this summer. So, how do you show your loved ones support on their big day without breaking the bank?

We tapped Kimberly Palmer, personal finance expert atNerdWallet and Virginia Frischkorn, founder of Bluebird Productions for their advice on how much money you should spend on a wedding gift. And it turns out, several factors come into play when you’re scanning your friends’ registries, like your income, your relationship to the couple, and if you’re going halfsies with a friend or S.O. Below, we broke down how much you should spend on a wedding gift, so you’ll never have to sweat over a crystal gravy boat again.

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A Gift From One Person

If the gift is solely from you, start off with $100, and factor in your relationship, as well as your comfort level spending that much money. If you are fairly close with the couple, $100 is a perfectly acceptable amount to spend. If that’s too much, you can spend between $50 to $75 if that works better for you.

How Much To Spend On A Wedding Gift:

9 @ 9: How much money to spend on wedding gift

So, let’s talk numbers. In 2018, NerdWallet conducted a study in partnership with The Harris Poll to determine the average amount of money people spend on wedding gifts. Here are the key takeaways: On average, Americans set their wedding gift budget at $128 for a close friend. However, Millennials plan to spend slightly more, averaging at $151. Even more specifically, Millennial men budget the highest at $180 per gift.

If these numbers are daunting to you, going in on a gift with a friend or partner is a great option for keeping costs down. “Splitting gifts means you can pick a larger gift from the registry and then divide the costs up,” Palmer explains. “Just be sure to promptly reimburse the person who makes the purchase via apps like Venmo or a check.” Frischkorn agrees that going halfsies is a smart idea if you’re on a tight budget, noting, “Sending a gift from a group can allow the total gift to be greater than what an individual can gift comfortably on their own.”

Keep in mind that your pals likely don’t want you sweating over the price of their gift when debating what to buy to celebrate their marriage. “Your friends don’t want to cause you financial stress, so you don’t need to feel pressure to give a more expensive gift than you can comfortably afford, especially if you are already spending a lot of money on the wedding itself,” Palmer tells HelloGiggles.

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Do I Need To Buy A Gift From The Wedding Registry

If you really cant decide on what to buy the happy couple, why not take a look at the bride & grooms wedding registry to help you find a gift that the couple both want and is still within your budget.

A wedding wish list or wedding registry is usually a list of items that the couple have selected together to help their guests have a stress-free gift buying experience and prevent duplicate /unwanted gifts being given.

Is a handpicked gift ok?

Many people are conscious about how much they spend on a gift, not wanting to appear cheap or overzealous.

Wedding blogger Alison Tinlin said: Its not about how much you spend its about showing the couple you care. Something that is both personal and unique can become something they will treasure. That will trump an expensive gift with not much thought behind it.

So sometimes it is better to shop around until you find that perfect gift that you know they will love and cherish. You could go a step further and hand make your wedding gift and show the couple how much you really love them.

Are You Planning To Give Cash Instead

It is more common nowadays for couples to live together before getting married, which means that they might already have all their plates and cutlery. It is no longer taboo for couples to request cash gifts over a traditional registry.

When gifting money, be sure to put it inside a thoughtful handwritten card and maybe include a nominal gift . If youre writing a cheque, be sure to check with the couple about how to fill it out so they dont run into trouble cashing it.

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How Much You Should Spend On A Wedding Gift

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How much to spend on a wedding gift per couple? Thats a question alone makes most couples gulp. After all, its either their big day or the best day for two of their friends. They want to pull all the stops. The lavish venue, flowers everywhere, organ music playing the bride walks down the aisle and an open bar. Its going to be a fairy tale affair, you tell yourself.

How much should you be really spending on a wedding? Granted you can cut down on big-ticket items. To get those fabulous wedding photos, though, youre looking at a sizeable budget. A wedding planner is a must, and so are the florist and the pastry chefs. Now thats going to leave a dent in your bank account, especially for the lucky couple.

Your friends and family will feel the weight of getting you a present that says they share in your happiness. But when they spend too much on wedding gifts, theyre going to struggle financially. They have rent and other bills to worry about. Overextending themselves on your wedding day will lead to financial hardships down the road.

Here are a couple of facts, surprising ones at that, on wedding day expenditure. The facts are startling for one reason people know weddings are expensive affairs, but theyre always overspending. Only to wake up the next day after the emotions have cooled down and the wine is nothing but a dull headache to realize they might have gone a bit overboard with their spending.

Realistic Expenditure On Wedding Gifts For Couples

13 Rules How Much To Spend on a Wedding Gift: Main ...

Thats what we are going to do here. Were going to step back a little bit and reflect on why people spend so much on wedding gifts, even though they innately know they cant afford such extravagances. Hopefully, this will set us down a path into looking at realistic expenditure on wedding gifts and at the same time getting gifts that dont look like something you picked up from a thrift shop.

And while were on the subject of quirky one-liners from some of the best minds in history, Oscar Wilde is credited with saying Anyone who lives within their means suffers from a lack of imagination.

But weve all known at least one spendthrift in our lives. They never seem to make ends meet, do they? And theyre ever asking for a $20 loan that they never payback. Maybe Oscar Wilde didnt intend to suggest we spend money like theres no tomorrow.

But were not Oscar Wilde nor do we indulge in his lifestyle of partying and overindulgences. He died broke and alone. That should at least tell you the virtues of living within your means, and why you need to cut down on wedding day gifts.

As a matter of fact, theres no step for buying over the top gift in any manual on how to plan a wedding step by step instructions.

And without further ado, lets jump into realistic expenditure for couples shopping for a wedding gift.

To make this guide applies to both the couple thats about to wed and those looking to surprise them with a gift on their big day, we have different sections for each.

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Surprising Statistics On Wedding Day Expenditure

Couples pay a whole lot more for weddings than they do for a down payment on a home. Tell any engaged couple this, and they wouldnt know whether to call off the wedding or go to the AGs office to get hitched.

According to The Knot, in 2017, the average wedding cost $33,000 and some change. Wedding dollars were flying out of the family bank well before the day of the wedding. Venues took the lions share of wedding budgets at around $16,000, and engagement rings came a distant second at $6,000.

Guests, on the other hand, werent too keen on big-ticket items.

When it came to wedding gifts, people werent that exorbitant with the average wedding gift from close friends was $128. For millennials, the average wedding gift amount per couple stood at around $151. So, dont get your hopes up. No ones going to foot the bill for the reception.

Unless you know an eccentric millionaire.

But this is good news for guest couples at weddings. The numbers suggest you dont have to splurge on a wedding gift. There are tons of things you can get your soon-to-be partner for life or a friend whos about to get married that doesnt come with a price tag that looks like GPS coordinates to Antarctica. In fact, you dont have to think along the lines of luxury gifts for men who have everything when budgeting for wedding presents.

Should I Give A Wedding Gift That Matches The Price Per Head

“The formality of the wedding impacts a number of elements, including time of day and dress, but there is no tie into the cost of the gift. What you gift the couple should be exclusively dependent on your relationship to the happy couple, as well as your own means. No guest should feel as though they need to overextend themselves with the gift because they are expected to wear black tie,” says Carlson.

Similarly, just because your BFF had a 10-person wedding in their backyard doesnt mean you should give them an inexpensive gift. Also, if you happen to be attending multiple events for the couple, consider this as well: you can use the 60-20-20 rule, which means spending 20 percent of your total budget on an engagement party gift, 20 percent on a gift for the bridal shower, and 60 percent for the actual wedding gift.

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How Much To Spend On A Wedding Gift If I Am Not Attending

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What to give for a wedding gift if not attending depends on your relationship with the couple. How much to give for a wedding gift is dependent on your financial disposition per time. If you have a personal relationship with the couple and cant make it, send a healthy gift.

If you feel you were a last-minute guest consideration to a couple you arent close to, send a handwritten congratulations. This may be through the RSVP. You are also saved from spending as much as you would have spent if present. A gift between $30 $40 will do.

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How to appropriately send a wedding gift in the form of a check is by addressing it to either the husband or wife. This will enable them to cash it, instead of getting a bounce at the bank due to a conflict in account details. If you have the urge to add a complimentary message, then pen it down in the part of the check allocated to comments.

It is very wrong to address a joint check to newlyweds using their new surname. That is an assumption on your part as you dont know if they will retain their individual names.

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