Polly Mosendz wrote about the staggering amounts that people are shelling out for bachelor parties:

• Elite Wall Street types hire planners that charge around $5,000 – or 10% of the total cost of the party – to plan the event.
• The most expensive ones can cost as much as $10,000 a person and involve international trips to global party destinations.
• While those are extremes, the averages are still pretty high. One survey found that groomsmen spend $680 for their friend’s bachelor party, while bridesmaids squeak by on just $437 for bachelorette parties.
• The best man, meanwhile, shells out around $1,000, while the maid of honour is in for $550.
• Things even out by the time the wedding rolls around – women spend more money on things like wedding dresses than men.

Read other details here.

Source: Bloomberg