Engaged couples aren't the only ones facing big wedding bills. Guests, especially millennials, are shelling out big bucks to watch friends tie the knot.
The average wedding guest expects to spend $703 per wedding this year, 5 percent more than last year, according to the American Express Spending & Saving Tracker. Millennial guests expect to pay even more, an average $893 per wedding.
(That's just to attend the wedding, mind you. If you're in the wedding party, spending jumps to an average $743 for the general population and $928 among millennials.)
"People will tell themselves, 'How can I not do this? It's my best friend, my college roommate [getting married],'" said Manisha Thakor, a certified financial planner and the director of wealth strategies for women at The BAM Alliance. "People are conflating friendship and personal finance, when they need to divide the two."