It’s Wedding TIme!
How much should one spend on a wedding gift? It all depends on who you are buying for, or how much you’ve got in your bank account. The amounts of money written below are flexible based on your income and the relationship of the person you are buying for. You, of course, have the final say in how much you want to spend on someone.
Your Best Friend
You had better do something nice for them and spend at least $100, or the equivalent in work. If you are short on cash, offer to help with planning, organizing, and executing the wedding. If you can’t make the wedding because of travel costs, you should do something memorable and worthy of your relationship. A work of art, a book of homemade recipes, and a scrapbook made just for them are good examples of worthy gifts.
A Good Friend
If you are in a good relationship with the bride and/or groom, $50 or a meaningful gift should do just fine. Keep in mind, your friends are aware of how much money you make. So, how much you should spend on a wedding gift depends on how much you can afford. Don’t be stingy. We’re talking about your good friends here. A quality friendship is worth a lot more than $50. If you can create something artistic that reminds them of a good time you had, it will go a long way.
$10 - $25 is a fair amount for somebody you vaguely remember from that one social gathering month ago. Try not to dip below $10, and do not give $5 or less. It’s much less offensive to receive nothing, than to get $3. Most people would rather receive $5 than receive a card.
Getting a wedding gift for a former spouse is no fun. It can, however, be a kind gesture of moving on and acceptance with love. Be careful not to give too much, though. This could be seen as a desperate attempt to get back together.
Getting a wedding gift for your parent can feel awkward. Nonetheless, it is a great opportunity to show him or her that you care, and are capable of financially supporting them. Spending anywhere from $50-$200 is a nice range. They are the reason you are alive, after all.
The Golden Rule
If someone has already purchased you a wedding present, buy him or her something that is of equal or greater value to the amount they spent on you. It is really unlikely that the lovely couple will be upset with you for having spent more on them than they spent on you. Also, make sure you are giving heartfelt gifts. Those are truly the ones that will stand the test of time.
Follow the Golden Rule
Knowing how much one should spend on a wedding gift all depends on the recipient. Whether they are your best friend, a good friend, an acquaintance, a former spouse, or a parent, the Golden Rule is to spend more on their gift then they spent on yours. Furthermore, make sure that you are giving from the heart.
Cool guy / Wikimedia Commons / Medeirosss
Pakastani Boys / Wikimedia Commons / Steve Evans
Two Girls / Wikimedia Commons / Benjamin Gimmel
The Ex / Wikimedia commons / Giuseppe Nicoloro
Dad / Wikimedia Commons / Alvin Ashcraft
This post is part of the series: Financial Advice
This series of articles gives hints and tips on how to spend wisely in these interesting economic times.