The approach of wedding season raises the question, “How much should I spend on wedding shower gift?” Learn what investors have to say.
Wedding season and an onslaught of invitations have many Americans asking, “How much should I spend on a wedding shower gift.” We put the question to a range of investors surveyed by Spectrem’s Millionaire Corner in April. Take a look at our findings
Investors would most commonly allocate $50 to $100 on a gift for a close friend or family member, but would typically spend $25 to $50 on a wedding shower gift for a casual friend or business association.
Click here to learn to learn how much Millionaires feel is appropriate to spend on a wedding celebration today.
Roughly 38 percent of respondents identified $50 to $100 as an appropriate amount for wedding shower gift for a close friend or family member, according to our survey, while 30 percent would spend between $25 and $50, and 15 percent would spend $100 to $150.
More than 48 percent would spend $25 to $50 on a wedding shower gift for a casual friend of business associate, while 29 percent would spend between $25 and $50, and 19 percent would spend between $50 and $100.
What’s an appropriate amount to spending on a wedding gift? Click here to see what our investors have to say.
The choice is most strongly influenced by a household’s budget for gift giving (56 percent), though close to half of investors say the decision is also influence by the items listed in a couple’s gift registry and the financial circumstances of the couple. Lesser considerations are the fear of appearing cheap and the type of wedding the couple is planning.
High net worth individuals – those with $5 million up to $25 million to invest – have the biggest fear of appearing cheap (27 percent). Less affluent investors – those with $100,000 to $500,000 to invest – are most bound by their budget (74 percent).
The biggest spenders on a wedding shower gift are likely to be the high net worth and high-income investors, those with an annual income of $200,000 or more.