A formal affair usually comes with a hefty price tag. Many components will go into your evening, and all of them cost money. And fancy clothing for men is no exception. Whether you’re planning your wedding or formal dresses prom night or will be attending a black tie gala, you can expect to spend a significant percentage of your budget on formalwear. Just how much you spend is up to you.
Formalwear Budget Basics
The cost of your formal look will vary depending on a few factors, most importantly whether you want to buy your tux or rent it for the evening. If you’ll be attending many black tie affairs in the future, it makes sense to purchase your tuxedo. If, on the other hand, you don’t see yourself attending many formal events, renting is better. Renting a tuxedo also gives you more versatility with colors and trends. That’s why renting is almost always the best option for a prom, when colorful formalwear is most appropriate. If you’re a member of a wedding party, you’ll probably have to rent too. Most grooms like to coordinate the formalwear looks of their groomsmen.
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Buying a tuxedo will cost anywhere from $100 to upwards of $2,000 depending on the brand and the quality of fabric used. The most affordable formal tuxedos will be found online, but unless you’re sure of your size and that the site has an excellent return policy, it’s better to buy from a store. A decent tuxedo jacket and matching trousers from a formalwear store will cost you about $250. On top of that, you’ll need a tie, a vest or cummerbund, shoes, socks, a shirt, and cufflinks. Altogether, expect to pay about $500 for a new formal ensemble.
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Renting a tux will cost much less than buying, but it will still be a significant expense. Most rentals cost between 10 and 30 percent of what the new tuxedo would cost, which is equivalent to about $50 to $100.
More about Tuxedo Rental Costs
Does renting a tuxedo seem like the best option for you? If so, there are a few things to consider before making your reservation. First, how long will you need the tux? Most rentals are for one day only, but some men need their tuxedos for much longer. If, for example, you are going to a destination wedding, you might need your formal ensemble for a week or more. In these cases, it is best to rent from a large formalwear chain; these stores tend to have week-long rates for rentals, and they allow customers to pick up and drop off tuxedos at different stores. Still, a long-term rental will run up your total bill.
Accessories are another cost to consider when renting your tux. You’ll have to pay extra to rent a shirt, shoes, vest, and tie. If you have your own accessories you could wear, let the sales associate know; this will save you some money.
Reserve Early For the Most Options
Determine how much you’re willing to spend on your formalwear look and start searching for an outfit a few months before your event. With plenty of time to find a tux that meets your budget, you’ll be sure to find the best deal. If you wait until the last minute, you might get stuck with a suit outside of your price range. |
