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Spring wedding season has arrived, ushering in hefty costs for guests -- and especially for members of the wedding party.
But it can be hard for twentysomethings to fit extra costs into scant budgets, especially if you have multiple weddings to attend. So be sure to determine what you are signing up for before committing to be part of the ceremony or a guest at a destination wedding -- and look for ways to trim costs.
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If you are asked to be part of a ceremony, don't hesitate to ask the bride and groom upfront for details including the event's location and other functions they may expect you to attend. In return, be honest with them about your financial situation.
Colleen Bayus, 24, attended four weddings last year, traveling from Washington to Boston, Pittsburgh and Philadelphia a total of seven times for dress fittings, bachelorette parties and the ceremonies.
"It really added up....I had to tell my friend in Boston that I didn't have the money to attend her bachelorette party in Manhattan," she says.
If you know you can't afford to fly to a destination wedding in the Caribbean plus a weekend bridal party in Miami, speak up from the beginning, says Susan RoAnne, a networking and etiquette expert in San Francisco. "It's fair to say 'I love you, but I don't want to shortchange you if I can't afford to participate in every aspect,' " she says.
Consider It a Vacation
For Carol Emory, 25, an assistant cookbook editor, flying from Chicago for a four-day bachelorette party in Miami and a four-day wedding event in California will put a dent in her funds. Between flights, bridesmaid dress, hair and makeup costs and gifts, she estimates her friend's wedding will cost her almost $2,000.
"It's a stretch and I wouldn't do it for everyone, but I like to travel and consider it my vacation for the year," she says.
Even if you aren't in the wedding party, the cost for gifts and travel can reach more than $1,000, says David Dickerman, 25, of New York, who is attending a friend's wedding at the Beaver Creek ski resort in Colorado this weekend.
To keep costs down when traveling, always try to split the cost of transportation, rooms and even food with other guests.
The High Cost of Clothes
When it comes to clothing, men in a bridal party may need to spend between $200 and $500 to rent or buy a tuxedo, cummerbund and shoes. Costs ratchet up for women, who may have to pay for a dress, alterations, delivery fee, undergarments, shoes and jewelry, which can add up to $800.
You may be able to shop around for a less expensive dress if the couple is flexible with your garb and asks only that your dress be a certain color or fabric, as opposed to requiring a specific dress. Places to look include eBay.com, BudgetBridalGowns.com and WoreItOnce.com.
And if you bought a dress you never plan to wear again, revisit those Web sites and try to sell it there.
Are you a photographer, graphic designer or makeup artist? Offer your services to the couple as a wedding gift. That can allow you to give something both personal and helpful, while sparing your wallet.
In addition, instead of buying a $50 serving bowl, consider teaming up with others to buy a bigger group gift like a flat-screen television.
See today's average rates across the country.
| Loan Type | Today | Last Week |
|---|---|---|
| 30 Year Fixed | 5.02% | 4.98% |
| 15 Year Fixed | 4.55% | 4.54% |
| 1 Year ARM | 3.93% | 3.92% |
| 30 Year Fixed Jumbo | 5.89% | 5.86% |
| 5/1 ARM | 4.18% | 4.09% |
| 3/1 ARM | 4.73% | 4.95% |
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| $30K HELOC | 5.22% | 5.20% |
| $50K HELOC | 4.95% | 4.93% |
| $75K HELOC | 4.96% | 4.94% |
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| 72 Month New Car Loan | 6.12% | 6.26% |
| 36 Month Used Car Loan | 7.15% | 7.21% |
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