Weddings are fun. Hello, open bar and dance floor! But the pre-wedding bachelor party is a great time, too.

Although this time-honored tradition is notorious for being debauchery, bachelor parties aren't just “The Hangover” on repeat.

A stag party celebrates the groom’s last days of singledom and the vows he’s about to make - replete with a little embarrassment, good old camaraderie, and of course, some liquid courage.

But who pays for it? How do you manage everyone’s money?

Whether bachelor parties are new territory to you or you want to avoid money trouble at an upcoming shindig, this article answers the big questions for you.

Contents:

What are the basic bachelor party “rules”? (Are there any rules?)
Who attends a bachelor party?
Who pays for the bachelor party?
Do bachelors pay for their bachelor party?
What does the best man pay for at the bachelor party?
How much is reasonable for a bachelor party?
Establish a bachelor party planner and a money manager
Do you get anything for a bachelor party?
How to use Braid Money Pools to pay for the bachelor party

What are the basic bachelor party “rules”? (Are there any rules?)

There aren’t many bachelor party “rules", which isn’t helpful if you’re planning a stag party for the first time. But the silver lining is that you get to write your own.

To that end, here are some standards that seem consistent for bachelor parties:

The best man usually plans, organizes, and “hosts” the party; you can think of him as the MC
The best man usually manages the bachelor party money, too
Consult the groom to understand his ideal party, and then with the groomsmen to understand how much they can comfortably spend
Bachelor parties usually take on the characteristics of the friend group: casual friends might lean toward casual parties, like hiking and camping with microbrew beer in tow. Golf enthusiasts might take to the green and welcome the evening with aperitifs

Who attends a bachelor party?

The guest list is up to the groom. Some grooms only want to celebrate with their groomsmen and the best man. Others want additional friends and family members to attend, too.

Before you send the invites, talk with the groom to decide whom he’d like to attend.

Click here to learn more about using Braid Money Pools to collect bachelor party money and sign up for the waitlist

Who pays for the bachelor party?

Financing the groom’s send-off can cost a pretty penny. And organizing the bachelor party money can get messy without the right tool.

With Braid you can collect, manage, and spend everyone’s contributions in sleek Money Pools. Before you learn to set yours up, keep reading to see who pays for what at the bachelor party and what a party might cost.

Do bachelors pay for their bachelor party?

The groom usually doesn’t pay for his bachelor party. The main exception is when the event involves travel and separate hotel lodging. Then, it’s common for the groom to cover his expenses.

Otherwise, the best man and groomsmen pay for all of his activities, meals, drinks, etc.

What does the best man pay for at the bachelor party?

The best man might outrank the other groomsmen in the wedding party hierarchy. But he usually doesn’t pay more than the other groomsmen. Instead, the best man splits bachelor party expenses with the other groomsmen.

Your group might decide to split everything evenly. Or, you might split significant expenses, like the boat or cabin rental, and then have each individual pay for their meals and drinks.

How much is reasonable for a bachelor party?

The reason why so many guys ask this question is that bachelor parties can cost up to $1,000 or more.

Should you spend a thousand dollars for your buddy before he gets hitched? We’ll let you decide.

In the meantime, check out these statistics. They show what other bachelor parties cost, along with the reasons why bachelor parties have a higher price tag than bachelorette parties.

According to a survey from The Knot, a one-day bachelor party will cost you $350. Two days ring in at $550 and three-day shindigs average at $750 a head.

Add airfare, and bachelor party prices climb. According to WeddingWire’s 2019 Bachelor and Bachelorette Party Study, attendees pay $813 for 1-day events, $1,144 for three days, and $1,362 for five days. The average hovers at $1,044.

Why are bachelor parties pricier than bachelorette parties? Additional data from WeddingWire shows that:

Groomsmen usually only have one event to plan (the bachelor party), unlike the maid of honor and bridesmaids, who plan both the bridal shower and the bachelorette party
About 1 in 5 bachelor party-goers travel by plane
Bachelor parties last longer. Compared to bachelorette parties, bachelor parties are slightly more likely (over 60%) to be two or more days, with one in three celebrating for three-plus days
There are fewer attendees (eight, on average) and therefore, fewer people to split the costs with
Bachelor parties can include pricier activities, including casinos, sporting events, and golf

Make collecting and spending bachelor party money easier with Braid Money Pools. Learn how here.

Have a money manager

To have a successful bachelor party, you need someone to manage the money. Since the best man usually plans the party, he often assumes the role of the money manager, too.

Some of his responsibilities include calculating costs, collecting contributions, and making payments. Braid Money Pools are a great way to help you stay organized from start to finish.

But before you start collecting cash, have a conversation with the groom to understand what kind of party he wants. Then, consult with the attendees to gauge what they’re comfortable spending.

If attendees have different financial backgrounds, here are several ways to make the bachelor party accessible and affordable:

Take a survey. Send everyone an anonymous survey to gauge what attendees can pay for the bachelorette party. The advantage of anonymous surveys is that people are more likely to give an honest answer since the social awkwardness is removed
Provide a rough estimate of the final cost so attendees know what to expect before anything is booked or reserved
Shorten the length of the party
Invite more people to lower everyone’s financial contribution
Opt for budget-friendly activities. Rather than plan expensive activities, like sporting events or gambling, reserve an evening at a laser tag stadium
Plan ahead to save on flights, car rentals, and hotel reservations
Remember there’s a wedding, too! Factor this into your planning to prevent financial problems
Let guys opt out of certain activities. If the bachelor party is a 3-day or week-long event, some attendees may not be able to attend every activity. If that’s the case, you might decide that they shouldn’t pay for everything either
Use Braid Money Pools. They’re free to use, and it’s free to contribute with a debit card or via bank transfer. There are no maintenance fees, overdraft fees, or monthly fees so you can spend 100% of the pooled money for the bachelor party

Do you get anything for a bachelor party?

Giving the groom a party gift is optional. Since everyone is probably attending the wedding and buying a gift from a registry, another pre-nuptial gift isn’t necessary.

Additionally, the groomsmen always cover the groom’s expenses at the bachelor party, and many people consider this gift enough.

But if you’d like to give the groom something special, run it by the other attendees first. Some ideas include tickets to a game or concert, a round of golf, etc.

All in all, the best gift to give is your best party attitude. Your presence, support, and enthusiasm are a great way to celebrate the groom’s upcoming milestone.

Ready to collect everyone’s bachelor party contributions? You need a Braid Money Pool first. Click here to sign up for the waitlist.

How to use Braid Money Pools to pay for the bachelor party

Planning a bachelor party is one thing. Paying for it is another. If you’re managing the bachelor party money, you need Braid Money Pools to make everyone’s life easier.

What is a Braid Money Pool?

A Braid Money Pool is a dedicated place to collect, manage, and spend everyone’s contributions. Braid Pools are designed to be collaborative so you can have as many groomsmen in your pool to manage bachelor party money with you.

1. Start your Braid Pool(s)

Braid is free to use, and you can set up as many pools as you need for your bachelor party plans.

Some people like to collect everyone’s money into one pool. Others like to

create separate pools for different expenses, like activities, transportation, airfare, etc.

How you organize your pools is entirely up to you.

2. Customize your Pool Link and share it

It only takes a few minutes to set up your Money Pool. Make it your own by choosing a color theme, giving it a cool name, adding a brief description, and uploading a photo.

You can customize your Pool Link, too. This is what you share to collect contributions. Rather than send everyone a link made up of random letters and symbols, create a Pool Link that’s easy to read and remember.

Your Pool Link can go just about anywhere: iMessage, WhatsApp group chats, email, social media, websites, etc.

Once people receive it, they can contribute to the Money Pool with their credit or debit cards without having to create a Braid account. Keep scrolling to see how contributions work with Braid.

3. Invite other groomsmen to join

Braid isn’t just another peer-to-peer money transferring app, like PayPal or Venmo. With Braid, multiple people can participate in the pool and manage funds together.

As pool admin, you can invite anyone to join the pool with you. Once they accept the invitation and create a Braid account, you can permit them to share the Pool Link, spend from the pool with the Braid card (more on that below!), and more.

4. Collect contributions

Once the bachelor party is planned out, let everyone know how much they owe so they can contribute to the pool.

When people use the Pool Link, they can add money to the pool with a debit card without any fees. If people prefer using their credit cards, Braid charges them a 3% fee. Any pool member can contribute via bank transfer for free.

The great thing about Braid is that the bachelor party money always stays separate from your bank account. You never have to juggle your personal budget with bachelor party funds.

5. Spend from your Money Pool with the Braid card

Braid is an ideal tool for your bachelor party because you can spend funds directly from the pool with the debit card that comes with it. You never have to transfer funds to your account to spend them.

The Braid card is a free, digital debit card that works everywhere Mastercard is accepted. Use it to purchase airline tickets, reserve a venue, or pay for the bar tab. You can also order a physical debit card for easier, in-person spending at bars, restaurants, etc.

As pool admin, you can permit other pool members to spend with the Braid card, too. To keep everyone within budget, you can set spending limits as needed. You can also freeze the card at any time from the app.

6. Track pool transactions

Instant notifications show when someone contributes or spends from the pool. Can’t remember your current balance? Hop on the app to see.

With Braid, you always have a crystal clear picture of bachelor party money. At any time, you can see who’s paid into the pool and whose contribution is still pending.

If you’re planning a bachelor party, use Braid Money Pools to manage the money.

With Braid, you get: