3 Ways to Save Money on Formal Events

The price of attending a formal event can be high. From fancy new clothes to wear to the event, to expensive gifts for the host and exorbitant travel expenses, the costs can quickly rack up. Thankfully, there are some simple steps you can take to save money when attending a formal event.

Save on Finery

One of the most expensive aspects of attending an upscale event is the clothing. Formal dresses and suits can be very pricey. Add in shoes and a new handbag and you can take an even bigger bite out of your bank account. To save money on clothing for an event, shop around. Prices for last season’s pieces can be significantly discounted when compared to a designer’s latest offerings. Or, consider renting a dress or purchasing from a reputable secondhand retailer. Also, don’t forget that you don’t always have to buy something brand new for an event; reusing pieces already in your wardrobe can save you significant cash.

Gift Wisely

One of the other largest expenses associated with an event is the gift. We can often feel pressured to spend more than we’re comfortable with, especially if the gift is in cash or a gift card form. To save money while still being a generous guest, choose a budget and commit to sticking to it. Join in on a group gift to ensure your host is getting something nice while you don’t overspend. Shop sales for physical items rather than giving cash; it can feel like your money is going a lot further this way. If you have a busy social calendar ahead, consider buying a whole case of nice wine at bulk price, then take a single bottle to each gathering.

Cut Travel Expenses

Traveling to an event can also get expensive, especially if the event is farther away. If possible, find someone you know who is also attending the event and split travel costs with them. Share a ride and split gas costs. Upgrade to a hotel room with two beds and split the cost of lodging with a relative. Another way to save is to shop around for savings when it comes to hotels and flights. By flying during off-peak times, you can save a lot on air travel expenses. Using a travel marketplace, you can often find great rates on hotel rooms.

Fancy events like weddings and holiday parties can be a blast. But they can also put a big dent in your bank account. By cutting costs when it comes to clothes, being smart when it comes to gifting, and cutting travel costs when possible, you can make your next formal event a lot less expensive.

*Photo by Todd Cravens on Unsplash