Being a bridesmaid or best man is more of a financial burden than an honor: survey

Being asked to be in a wedding party is an honor to some, but to many it’s a financial burden.

A new survey by CompareCards shows that 51% of all wedding party members felt pressured to spend money as part of the big day.

“Anybody who's ever been married or even been part of a bridal party knows that there's a lot of stress in it and a lot of financial stress,” CompareCards Chief Industry Analyst Matt Schulz told Yahoo Finance’s On the Move.

The pressure to join a wedding party is not just a burden, it’s driving many into debt. Forty-three percent of maids of honor and 38% of best men said they incurred debt thanks to their friend’s nuptials.

So what are bridesmaids and best men spending on? Thirty-percent said they spent the most on attire, followed by 29% on a bachelor or bachelorette party. Overall, one-third of people said they actually regret how much they spent.

So who’s to blame? The Bride. Forty-eight percent of people blamed the bride for pressure to spend on the event, while 35% blamed the spending on pressure from other bridal-party members. Only 21% blamed the groom.

Overall, if you are getting married soon, be careful what you ask for. CompareCards says 37% of people have actually declined an invitation to be in a wedding party thanks to the price tag.

“People need to respect the people in their bridal party because if you can't have an open honest conversation with your friends who are standing up for you in your wedding, who can you have a good conversation with?” Schulz says.

Kenneth Underwood is a senior producer for Yahoo Finance.

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