Gen Z More Willing to Spend on Wedding Gifts Than Boomers

A recent study shows that Gen Z is more willing to spend on wedding gifts compared to Baby Boomers. This trend reflects a shift in generational attitudes towards gift-giving, with younger individuals demonstrating a greater readiness to invest in celebrating weddings. The findings highlight evolving spending patterns and priorities between the two generations.

Although Gen Z generally has less disposable income, they are willing to spend the most on wedding gifts for friends.

According to a new Empower report, Gen Z plans to spend an average of $275 on wedding presents, significantly more than the $98 that Baby Boomers anticipate spending.

The report indicates that younger individuals are more inclined to spend, with Millennials and Gen X spending an average of $238 and $149, respectively. Overall, guests plan to spend an average of $174.95. Drew Powers, founder of Powers Financial Group in Illinois, noted that this spending pattern aligns with generational trends. “Boomers remember when $100 was considered a generous gift, whereas Gen Z, aware of current inflation, knows $100 barely covers a reception's open bar,” Powers told Newsweek.

Nearly 45 percent of guests admitted they are unsure about the appropriate amount to spend on wedding gifts. The study, which surveyed 1,160 Americans in June, found that people are spending or planning to spend an average of $31,281 on weddings. Powers attributed the higher spending on gifts among younger generations to their preference for experiences over material items, leading them to spend more on trips and vacations.

“Gen Z might view wedding gifts as an extension of the wedding experience and are therefore willing to invest more,” Powers said. Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, commented that modern weddings often feel like grand events compared to those of the Baby Boomer era. “Everything—from the ceremony and reception to the gifts—is often shared on social media, and this peer pressure may lead many to overspend,” Beene told Newsweek. “It's important to remember that no matter how significant the occasion, it's not worth going into debt over gifts or other elements of the event.”

Kevin Thompson, finance expert and CEO of 9i Capital Group, noted that Gen Z couples tend to be more financially secure and their guests often share this financial status. “Gen Z is marrying later and those who do are generally more financially stable,” Thompson told Newsweek. Generational expert Bryan Driscoll said Gen Z places more value on human connections rather than material wealth, contrasting with previous generations focused on accumulating possessions.

“Gen Z faces economic challenges like rising living costs, student debt, and stagnant wages, forcing them to redefine what wealth means,” Driscoll said. “For them, true wealth is measured by meaningful experiences, such as celebrating a friend’s wedding. These shared moments provide joy in an otherwise challenging economic landscape.” Driscoll also questioned whether Gen Z's spending on friendship experiences is a response to feeling excluded from traditional markers of success, like homeownership and financial stability.

“Today’s younger generations are realizing that the traditional system isn’t working for them and are choosing to invest in what makes them happy now, rather than conforming to outdated expectations,” Driscoll said.

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Source: Newsweek‍