Brits splash out over £600 to attend a wedding

With the wedding season fast approaching, new research by Halifax Current Accounts reveals the true cost of attending a wedding, and shows, that even in uncertain times, guests are not cutting back in showing their loved ones how much they care.

The research by Halifax found, when it comes to a wedding, it's not only an expensive time for the bride and groom but for all involved. Brits are splashing out up to £624.10 on gifts, clothes, accommodation, travel, and reception drinks to ensure they make the most of their friend or family member's big day.

Costly Stag and Hens

For many bride and grooms the stag and hen parties are just as important as the actual wedding, with modern brides-to-be choosing sun soaked destinations to top up their tans before the big day and adventurous stags opting for costly, action packed, weekends.

Guests attending a stag or hen party in the UK will spend on average £92.80, but those helping to celebrate the bride or groom's last night of freedom abroad will spend £258.50.

Cost Breakdown

When it comes to the actual wedding day, it's looking good that takes priority. The average guest will spend £113.30 on clothes. The research revealed its men who splash out the most on their wedding outfit; male wedding guests will spend £123.10 on clothing, whilst the average female guest will spend £105.60.

Half of the wedding guests surveyed said they will be treating their loved ones to a gift worth £50 - £100. However, it seems weddings bring out the generous side in some men, with a quarter (27%) purchasing a wedding gift over £100.

The costs don't stop here for wedding guests. In addition to clothes and gifts a typical guest spends £108.60 on hotel accommodation and £43.70 on reception drinks. A third of men (39%) will spend over £50 on reception drinks compared to one in five (23%) females.

Wedding Guest Stress

It's not only the bride and groom who suffer pre wedding stress; it's also the guests. Almost one in four (24%) have been put off attending a wedding in the past due to the anticipated cost. Over a third

(34%) admits they don't like to give cash presents to newlyweds and around a quarter (24%) feel under pressure to spend a lot at a wedding.

Price of Happiness

Over two-thirds (67%) of guests said they would be happy to spend whatever, as long as the bride and groom were happy. Two in five (42%) single guests hope their money will be returned in kindness when it's their own wedding.

Almost two thirds (64%) of the wedding guests surveyed believe the bride and groom should consider the cost involved for guests when planning their big day.

Preparing For the Big Day

To avoid financial stress wedding guests need to prepare for the big day. By simply switching to the Halifax Reward current account, wedding guests could earn an extra £60 a year, which could help to cover the cost of a wedding gift for a loved one.

The Reward current account rewards customers with a monthly net cash payment, after tax, of £5 when accounts are funded with a minimum monthly amount of £1,000. The £5 monthly payment (equivalent to £6.25 gross for lower rate taxpayers) is irrespective of balance. This means customers who fund their account with £1,000 each month will earn £60 a year in reward payments.

Mike Regnier, Halifax head of banking, comments: "The cost of attending other people's weddings is often underestimated. It is clear that wedding guests are spending in order to be there for their loved ones.

The Halifax Reward current account is an ideal way for wedding guests to earn some extra money to cover their costs. The Reward current account is simple and easy to understand, with the potential to earn as much as £60 a year by banking with Halifax."

For more information, visit halifax.co.uk