Brides and grooms (and often their parents) may shell out over $30,000 to put on a wedding, but they aren’t the only ones paying big bucks for the big day. In fact, the groom’s closest buddies can expect to have their wallets hit harder than the bride’s besties.
Groomsmen on average spend more on wedding attire and bachelor parties compared with bridesmaids, according to a survey from GoBankingRates.com. Groomsmen spent $245 on their tuxes and $681 on bachelor parties, for a total of $926.
Bridesmaids paid $214 for their dresses and $437 (or more than a third less) on the bachelorette party, totaling $651, which is also less than what the guys spent on partying.
The differences don’t stop there. Three of 10 groomsmen said they spend more than $200 on gifts for the wedding couple, versus only two in 10 bridesmaids. Slightly more groomsmen (48 percent) than bridesmaids (42 percent) spent more than $200 on additional wedding costs such as travel, make-up, hair and shoes.
Even though groomsmen spent more on average, bridesmaids were slightly more likely to go over their budget. Thirty-two percent of bridesmaids said their spending exceeded their expectations, compared with 28 percent of groomsmen.
One way to plan for wedding costs is to start a savings account earmarked for other people’s celebrations, said Erin Lowry, founder of the Broke Millennial blog, in a statement with the survey. Engagements can last longer than a year, so those participating in the wedding have time to save up for the big costs.
“It certainly isn’t cheap to be part of someone’s special day, which is why I started a savings account specifically for other people’s weddings,” Lowry said.
More than half of bridesmaids and groomsmen said the amount they spent met their expectations. And 16 percent of bridesmaids and 17 percent of groomsmen said they actually spent less than they expected.
“There are more ways to creatively stay within a budget today than there used to be,” said Kristen Bonner, the GoBankingRates research lead for the survey. “For example, there are dress rental websites, online DIY tutorials for hair and makeup, and personalized gift ideas online.”