Brits spend millions on wedding gifts each year

The average amount Brits spend on wedding gifts has increased from £47 in 2011 to just over £51 in 2012, research has found.

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For the average 96 guests at a wedding this would mean a total wedding bill of £4,896, or £1.2billion over the course of a year. This is up by £129m since 2011.

The biggest spenders were found to be 18-24 year olds, paying an average of £63 on each gift, while 55-64 year olds pay an average of £46 per gift.

Londoners are the most generous when it comes to wedding gift outlay across the UK, paying an average of £80. In contrast, people in the North East spend the least at just under £38.

“We all know that paying for a wedding is expensive for the father of the bride, or the couple if they are paying for it themselves,” said Bruno Genovese, Senior Savings Product Manager at First Direct, which conducted the research.

“However, it can also be expensive to be a guest especially when you take into consideration the cost of a new outfit, a stay in a hotel and drinks at the reception.  If you’re lucky enough to have lots of friends and family getting married, now might be the time to start saving.”

With 95% of people owning some sort of plastic card, many may use credit cards to fund wedding related expenses.

You can compare credit cards with Propertywide.

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