The Wedding Stinger

The wedding season is not just an expensive time for brides and grooms; it's costly for all involved - with one in 12 (8%) guests spending a whopping £1,000 or more to see their loved ones get wed.

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This summer most people (73%) will attend an average of two weddings and this will set them back on average £256 per wedding or £512 in total.

However, some guests will incur a lot more. The combination of paying for presents, travel and new outfits can all add up with one in 12 (8%) spending £1,000 or more, and almost one fifth (18%) spending over £400 per wedding.

A knotty problem

The majority of guests (63%) will see a dent in their current accounts as they plan to pay for their expenses from their existing funds. One in three (33%) however, will be paying to see their loved ones tie the knot on their credit cards.

Laura Starkey, Financial Expert at Fool.co.uk, says: "While the experience and memories of attending a wedding can be priceless, the costs associated with doing so can be substantial.

"Meeting these expenses can be tough - so it's vital that wedding guests think carefully about what, how and where they're spending and try to budget and plan ahead.

"If you have to use a credit card in the short-term, try using one with a cashback or 0% on new purchases deal, and pay it off before your bank starts charging you for borrowing."

Laura's helpful tips:

Start saving - as soon as you know you will be attending a wedding, put some money aside each month.

Create a budget - list all the costs you will encounter and consider how much you're willing to spend on them.

Be honest - The cost of hen and stag dos can mount up, so ask the organiser to be upfront about expenses, and don't be afraid to not go.

Re-use - Jazz up an old outfit, or alternatively buy a wedding wardrobe staple which you can wear again.

Plan ahead - Even if the wedding is months off, try to buy everything you need during the sales season.

Go off-list - If there's nothing on the wedding list you can stretch to, it's fine to choose an affordable gift yourself. Try buying online using shopbots and cashback websites, as this will cut costs further.