How Much Should You Spend on Wedding Gifts?

How do affluent individuals rate as wedding gift-givers?

Jul 20, 2014 at 6:09PM

Bridal Bouquet Pixabay

Source: Pixabay.

A new Spectrem's Millionaire Corner consumer-spending trends survey of affluent households finds that spending on wedding gifts is in line with accepted gift-giving etiquette. Four in 10 affluent respondents (42%) said that between $101 and $200 is an appropriate amount to spend on a wedding gift for a close friend of family member, while nearly half (48%) said that up to $50 was appropriate to spend for a casual friend or business associate.

Fifty dollars is considered to be the wedding gift-giving threshold, according to The Knot, a website devoted to all things nuptial.

"Spend what you think is appropriate to your relationship with the couple, and also consider what's reasonable in your city," The Knot advises. "While a co-worker or firend may expect a gift in the $50-$75 range, someone in an urban market may have double the expectations."

Here, according to the website, is the ballpark for which you should be aiming:

  • Coworker and/or distant family friend or relative: $50-$75
  • Relative or friend: $75-$100
  • Close relative or close friend: $100-$150
  • Urbanite: $150-$200-plus

How do affluent individuals rate as wedding-gift givers? Three in 10 are comfortable spending up to $100 for a close friend or family member, while less than one-fourth (22%) think between $201 and $500 is appropriate, according to Millionaire Corner's consumer spending trends survey.

Women are more frugal than their male counterparts when it comes to wedding-gift spending. Nearly four in 10 (37%) are comfortable spending up to $100, compared with 26% of men, while a higher percentage of men think a $201-$500 gift for a close friend or family member is appropriate (24% vs. 18%).

Not surprisingly, married couples spend more generously than their single counterparts on wedding gifts for a close friend or family member, with singles way more likely to opt for the $100-or-less range (37% vs. 28%). Age, too, is a factor, with those under 40 most likely to spend $100 or less than their older counterparts.

When it comes a wedding gift for a casual friend or business associate, four in 10 (43%) believe that between $51 and $150 is an appropriate amount.

The household budget is the most significant factor in determining how much one should spend on a wedding gift, according to a 2013 Millionaire Corner consumer spending trends survey. Half of respondents were guided by the couple's gift registry or their financial circumstances. Only 15% said they based their wedding gift spending on a fear of appearing cheap.

How to get even more income during retirement
Social Security plays a key role in your financial security, but it's not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today.

Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich" rated The Motley Fool as the #1 place online to get smarter about investing.

"The Motley Fool aims to build a strong investment community, which it does by providing a variety of resources: the website, books, a newspaper column, a radio [show], and [newsletters]," wrote (the clearly insightful and talented) money reporter Kathleen Elkins. "This site has something for every type of investor, from basic lessons for beginners to investing commentary on mutual funds, stock sectors, and value for the more advanced."

Our mission at The Motley Fool is to help the world invest better, so it's nice to receive that kind of recognition. It lets us know we're doing our job.

Whether that's helping the entirely uninitiated overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we want to provide our readers with a boost to the next step on their journey to financial independence.

Articles and beyond

As Business Insider wrote, there are a number of resources available from the Fool for investors of all levels and styles.

In addition to the dozens of free articles we publish every day on our website, I want to highlight two must-see spots in your tour of fool.com.

For the beginning investor

Investing can seem like a Big Deal to those who have yet to buy their first stock. Many investment professionals try to infuse the conversation with jargon in order to deter individual investors from tackling it on their own (and to justify their often sky-high fees).

But the individual investor can beat the market. The real secret to investing is that it doesn't take tons of money, endless hours, or super-secret formulas that only experts possess.

That's why we created a best-selling guide that walks investors-to-be through everything they need to know to get started. And because we're so dedicated to our mission, we've made that available for free.

If you're just starting out (or want to help out someone who is), go to www.fool.com/beginners, drop in your email address, and you'll be able to instantly access the quick-read guide ... for free.

For the listener

Whether it's on the stationary exercise bike or during my daily commute, I spend a lot of time going nowhere. But I've found a way to make that time benefit me.

The Motley Fool offers five podcasts that I refer to as "binge-worthy financial information."

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. It's also featured on several dozen radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable ... and I don't say that simply because the hosts all sit within a Nerf-gun shot of my desk. Rule Breaker Investing and Answers contain timeless advice, so you might want to go back to the beginning with those. The other three take their cues from the market, so you'll want to listen to the most recent first. All are available at www.fool.com/podcasts.

But wait, there's more

The book and the podcasts – both free ... both awesome – also come with an ongoing benefit. If you download the book, or if you enter your email address in the magical box at the podcasts page, you'll get ongoing market coverage sent straight to your inbox.

Investor Insights is valuable and enjoyable coverage of everything from macroeconomic events to investing strategies to our analyst's travels around the world to find the next big thing. Also free.

Get the book. Listen to a podcast. Sign up for Investor Insights. I'm not saying that any of those things will make you rich ... but Business Insider seems to think so.


Compare Brokers