You can't put a price on friendship ... or can you?

Priceless friendship
Priceless friendship

Yesterday saw National Friendship Day amid new research revealing true cost of such close relationships.

We spend an average £548.88 a year going out with mates (here accompanied by timely friendship quiz and TV hit Friends top ten clips) that adds up to whopping £34,579 in standard lifetime ... and that’s just the socialising!

Weddings, birthdays and other occasions are all on top of that, according to www.paymentsense.co.uk/ Paymentsense survey http://www.friendshipday.org/when-is-friendship-day.html of 2,000 Brits.

Men on average spend more than women on socialising. But women are the most likely to treat their friends to presents ‘just because’ (42%) or when they are going through a break up. However, men think they have more close friends than women do.

Big occasions in friend’s lives can cost a lot of money for mates. Men stated last stag do they enjoyed cost £297 whereas women only spent £207 on latest hen do. That’s on top of what people spend on a wedding for their close friend, which totals average £247. They can cost so much money one in 20 Brits refuse to go to a friend’s wedding so they can save cash.

· Brits spend, on average, £34,579 on socialising with friends in their lifetime

· A quarter of Brits have lent friends money and been paid back straight away

· Almost a third of Brits (31%) have bought their friends a gift ‘just because’

It's 25 to 34 year-olds who spend most money socialising with friends, while those aged 55+ spend least, but tables turn when it comes to holidays with more mature age group spend most holidaying with friends. The 18 to 24 year-old age group are most generous as 40% of them will buy friends gifts ‘just because’ while they are also most likely to go somewhere they can’t afford just to socialise with friends.

Some 30% of Brits buy their friends a housewarming gift while 31% buy them a gift ‘just because’. But do Brits buy their friends? Those who have more friends tend to buy them more gifts, for all different events such as relationship break-ups, new jobs, bereavements and just because they can.

Cost of friendship

Cost of friendship

There are some negatives when it comes to friendship and money with more than 1 in 20 Brits having lent a mate money that's never been paid back. Some 3% have even fallen out with friends due to unpaid money-lending. And almost 1 in 10 25-34 year-olds have lent a friend cash and never had it paid back.

The average amount Brits have lent is £146.55 but 11% have lent friends over £500! Men are more likely to lend than women with over half of blokes having lent mates money.