Are other people’s occasions putting pressure on your finances?

Do you get a sinking feeling when you get invited to a hen or stag do, a baby shower or a housewarming party?

After all, these occasions don’t always come cheap, so it’s far from ideal if money is tight.

If so, you’re not alone.

According to research by Spring, more than half of us (52%) feel pressure to join expensive social occasions.

But many are worried that they’ll appear rude, stingy or difficult by not contributing to or going to events.

Half of Brits using savings to pay for occasions

The awkwardness of saying no is making many people bite the bullet and spend the money regardless of whether they can afford it.

In fact, figures show that nearly half (46%) have dipped into their savings to cover the costs of other people’s occasions.

This is, in turn, leading to lots of people putting off their own goals, such as travelling (36%) and buying a house (19%).

People resent social spending expectations

Unsurprisingly, many people are unhappy with how much they’re expected to spend on social events.

More than one in five (22%) said they find it annoying, while almost a third (29%) described it as irritating.

And over four in ten (41%) said they believe there are too many occasions to be marked these days.

Gender reveal gifts are a particular bugbear, with almost half (44%) saying these are a wasteful expense.

Meanwhile, nearly four in ten (38%) think overseas hen and stag dos are unnecessary.

What would people rather do with their money?

British adults are spending more than £1,000 a year on social occasions, including an average of:

• £207 on weddings
• £191 on significant birthdays
• £150 on hen and stag dos

But more than half (51%) admit they’d rather spend this money elsewhere.

For example, 59% of these people would rather put it in savings, and 47% would prefer to put it towards a holiday.

In addition, 33% said they’d rather spend the money on their hobbies.

"Many of us feel pressure to say yes to social events that are becoming more and more expensive,” said Derek Sprawling, head of money at Spring.

“In a social media world, many people want to celebrate landmark events in style and not down the local pub, which is putting more and more pressure on budgets.”

Mr Sprawling added if people are uncomfortable with what they’re being expected to spend, they should learn to “say no” in a “gracious way that doesn’t offend”.