Weddings in general are pretty expensive. Both for those getting married and those going to the wedding festivities, everyone’s going to be shelling out at least some money for the affair. But while the couple knows that they’ll be spending money on things like wedding rings and a reception, those attending the events often have a hard time knowing how much money they should be spending on each wedding they’re involved with. So to help with this dilemma, here are three tips for giving the perfect wedding gifts without breaking the bank.
Know How Much You Should Or Can Spend
Before you even begin thinking about the exact gifts you’re wanting to give, you should first determine how much money you can spend or how much money you feel obligated to spend. According to Jaimie Mackey, a contributor to Brides.com, there are some guidelines that can help you determine what you might want to spend for a wedding. Some traditions say that you should give a gift equal to what the couple is spending per person for the event, while others that you should subtract what you’re spending to actually make it to the wedding. Naturally, you shouldn’t spend more than you can afford, and it’s a good rule of thumb to consider how well you know or how long you’ve known the couple to help determine the type or quality of gift you’d be comfortable giving.
Give Yourself Time
Once you’ve decided what type of gift you want to give to the couple, you might find that it’s more than you can afford right now. Luckily, Amy Beal, a contributor to Real Simple, reminds us that you technically have a year from the wedding date to give the couple their wedding gift. For those who need more time to scrape together the necessary funds, this gives you the perfect chance to create a budget and start saving. However, don’t give yourself too much freedom that you forget about their gift completely and end up spending that money on something else instead.
Follow the 20-20-60 Rule
Especially if you’re being invited to multiple parties as part of the wedding celebrations, you may not be sure about how to space out your gift giving. To help with this, Colleen Barrett, a contributor to Refinery29.com, recommends that you follow the 20-20-60 rule. This rule means that you set a budget for gifts for the entire wedding and you spend 20 percent on the engagement gift, 20 percent on the bridal or grooms gift, and 60 percent on the wedding gift. This can help ensure you don’t go overboard with your spending at each event.
If you’re concerned about giving gifts for the upcoming weddings you’re invited to, consider using the tips mentioned above to help make this a little easier on your wallet.