Renters Forced To Leave Their Homes After Spending Too Much Attending Friends' Weddings New Study Reveals
Wedding season is very much in full swing and while guests are delighted to be included in their pals' joyous milestone, it can feel as though you're throwing cash around like its confetti.
According to a new study, the cost of attending a wedding has left more than one in five renters in debt and left seven percent of those surveyed so cash-strapped they had to move back in with their parents.
The research, which was carried out by SpareRoom.co.uk, found that one in seven guests are spending a whopping £400 to attend each wedding - with some admitting they've spent an outrageous £1,000.
It's no surprise that finding the right outfit for the celebrations comes in as the biggest expense (24 per cent) while gifts follow closely behind (18 per cent), then accommodation (17 per cent) and finally attending hen or stag parties (10 per cent).
With all this information, it's no wonder so many people find themselves in financial difficulties because they felt compelled to accept invitations to friend's weddings.
One in eight (12 percent) have had to subsequently say 'no' to other social occasions because they couldn't afford them after weddings costs while some claimed that attending their pal's nuptials has resulted in them missing bill or rent payments.
But that's not all, others admitted that attending the 'I dos' left them struggling to pay back credit card debt (18 per cent), 10 percent had to sell their belongings, and some were forced to move out of their homes and back in with parents (7 per cent).
And while weddings are financially draining, they can cause friendships to end with a third (32 per cent) turning down wedding invitations and one in five falling out with mates due to the financial stress to attend their weddings.
Of those turning down wedding invitations due to financial concerns, nearly half (43 percent) say they've lost friends entirely due to this - this figure rises to a huge 62 per cent with millennials.
Director of SpareRoom Matt Hutchinson said of the results: "Different people have different affordability levels, and to hear that some renters have had to move out of their home and move back in with their parents as a result of spending too much money attending weddings is quite shocking.
"What's even sadder to hear is that people are losing friendships in the process.
Adding: "If you decide you can't afford to attend a friend's wedding, meet up face to face and have a conversation with them about the reasons why - the likelihood is they'll understand and you can move forward with your friendship, rather than lose it!"
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