Weddings Can Be Expensive, Even If Your Not in The Wedding

The new American trend of destination parties has become quite popular. Across the country millennial's are flying to different cities and celebrating events with their friends, most common are wedding bachelor(ette) parties. These expensive trips add up fast over the years.

A study by Zillow has concluded that if a person travels to nine or 10 destination parties they will have spent almost $14,000. This is enough for a 35% down payment on a medium priced home.

Owning a home is a call to a lot of millennial's, but a lot of them struggle to save enough for an adequate down payment. 

The average destination bachelor party cost him $1500, while the average bachelorette cost $1100. This is all according to the wedding website, The Knot. If one person goes on a 10 of these destination trips they will have spent more than enough money for a down payment on a modestly priced home. 

And some markets this amount of money will get you as much as 50% down payment by Pittsburgh and Cleveland, while in other markets like LA and San Francisco you will only have 4%or 5%. 

Bachelor and bachelorette parties are not the only wedding expense. Hundreds of dollars are spent on clothes for the wedding, presents for certain party members, and travel costs to the wedding. On average, bridal party members spend an average of $888, and this is just to be in the party. 

Figure out how much you can actually spend on a home based on your income, savings, and your debts. Spend your money wisely and don't buy things you can't afford.

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