LOS ANGELES, May 2, 2016 /PRNewswire/ -- Groomsmen are consistently shelling out more money than bridesmaids when participating in weddings today, according to the latest GOBankingRates survey.
The average cost of being a bridesmaid or groomsman easily tops $1,000, but groomsmen are spending more on average than bridesmaids for their wedding attire ― $245.50 versus $214.58, respectively.
Groomsmen are also outspending bridesmaids on pre-wedding festivities by about $244. The average total cost for a bachelor party is $681.13, but bridesmaids report spending an average of $437.31 for bachelorette parties.
For full details on bridesmaid and groomsmen spending, go to:
"Of course, it's an honor to be asked to be a part of a friend or family member's wedding," said Cameron Huddleston, Life + Money columnist for GOBankingRates. "But you should think carefully about whether you can afford the costs of being a bridesmaid or groomsman before saying yes. If you do agree to be part of someone's special day, you certainly should create a budget and stick to it."
- Men who served as best man report spending an average of $998.78 on the bachelor party ― almost twice as much as maids of honor report spending on the bachelorette party ($552.33).
- More than 30 percent of groomsmen spent $200 or more on gifts for the couple getting married, but only 20 percent of bridesmaids spent that amount on gifts.
- 28% of bridesmaids and groomsmen spent $300 or more on incidental wedding costs such as shoes, travel expenses, and hair and makeup.
- About 30 percent of bridesmaids and groomsmen report spending more money than they expected to be part of the bride and groom's big day.
Are you going to be in a wedding party soon? DOWNLOAD GOBankingRates' Wedding Party Budget Cheat Sheet at http://www.gobankingrates.com/personal-finance/groomsmen-actually-pay-bridesmaids-wedding-duties-survey-finds/.
Methodology: This survey was conducted by GOBankingRates through Survata and collected 1,005 total responses ― surveying 502 women and 503 men ― from April 1-3, 2016, with a margin of error of 4.4 percent. The survey posed six questions to people who had served in wedding parties in the last three years about how much they spent on various costs associated with being a bridesmaid, maid of honor, groomsman or best man. GOBankingRates also analyzed the results using Survata's data on respondent ages.
GOBankingRates.com is a leading portal for personal finance and consumer banking information, offering visitors the latest on everything from finding a good interest rate to strategies for saving money, investing for retirement, and getting a loan. Its editors are regularly featured on top-tier media outlets, including U.S. News & World Report, Forbes, Business Insider, Daily Finance, and more. It specializes in connecting consumers with the best financial institutions and banking products nationwide.
Katie Johnston, Media Relations
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