Market Research Survey Shows Financial Constraints Force Many People to Decline Wedding Invites

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14th August 2013 13:43 - Financial Services

The survey, conducted by American Consumer Credit Counselling, found that over two fifths (43%) of respondents have declined a wedding invite due to financial reasons. Additionally the survey showed that people between the ages of 35 and 54 were the most likely to decline an invitation.

Steve Trumble, President and CEO of American Consumer Credit Counselling, said:

"With the average cost to attend a wedding reaching nearly $600, it’s no surprise that Americans are thinking long and hard before replying yes to an invitation."

Among respondents, more than nine in ten (92%) said they would turn down an invitation to another event because of money constraints. In contrast, over a third (36%) of people – said they would willingly go into debt to go to a wedding.

Steve Trumble continued to say:

“It is absolutely critical to plan ahead and use budgeting and money management tactics to avoid relying on a credit card for unforeseen expenses”

According to the 2013 American Express survey, bridesmaid and groomsmen can be expected to spend an average of $577 to be part of a wedding.

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