In the world of wedding gifts, cash is king.
A new study reveals that cold, hard cash is the ultimate wedding present, and not just for the recipient. People giving money to a newlywed couple don’t have to worry about including a gift receipt. In addition, they don’t have to be concerned about it being the wrong color, size or worry about whether it will match the bride and groom’s style.
Still, there are some challenges that come with gifting money as a wedding gift. At the top of the list is amount. There is a myth that a magic number exists when presenting cash as a wedding gift. However, according to wedding etiquette experts, this is completely false. As an invited wedding guest you are the one who ultimately decides how much cash you feel is appropriate to give as a gift.
If you are clueless as to how to calculate an appropriate amount, consider the following factors:
Relationship: If you are a close relative of the bride or groom, then you are more likely to give a larger sum of money than a co-worker who has only known the couple for a year or two. Look at the relationship you have with the couple, and then determine how much cash you feel comfortable gifting.
Personal Finances: While relationship plays a huge role in how much cash you should be presenting as a wedding gift, if you don’t have the financial means to give $500, $250 or even $100, then it doesn’t matter how close you are to the bride and groom. Bottom line: You should never give more money than you can afford.
Group Gift: According to wedding etiquette experts, if your invitation includes a large number of people, then you might consider digging a bit deeper for the cash gift. For instance, if you, your spouse and your five kids are invited to a wedding, plan to have the amount of your monetary gift reflect the large number of people attending.
Other factors to consider include geography. If the wedding is being held in a major metropolitan area, cash gifts tend to be higher. Also, if you already paid for an engagement gift and bridal shower gift, the amount of cash you give as a wedding present may be less than if you declined invitations to the previous events and are rolling the gifts into a single monetary present.