₩100,000 a gift, twelve times a year, comes to ₩72M over a lifetime
In Korea, guests bring cash to weddings and funerals, usually ₩50,000 to ₩100,000 at a time. Once a month does not sound heavy, but across a whole working life it adds up.
How to calculate lifetime gift money
Yearly gift money = average amount per event × events per year
Multiply that by the years from when you started until now, and from now until an end age, to get money already given and money ahead.
At ₩100,000, twelve times a year
Assume you started at 25, you are 35 now, and the pace holds until 85.
| Years | Amount | |
|---|---|---|
| Per year | 1 | ₩1.2M |
| Already given | 10 | ₩12M |
| Still ahead | 50 | ₩60M |
| Lifetime total | 60 | ₩72M |
At ₩50,000 six times a year, it is ₩300,000 a year and ₩18M over a lifetime. Halving either the amount or the count halves the total.
In practice the pace is uneven
The calculation assumes the same count every year. In reality, friends’ weddings cluster in your late twenties and early thirties, and funerals increase after your fifties. The lifetime total can be roughly right while the year-by-year pattern is very different. So enter a lifetime average, not this year’s count.
Gift money also flows the other way. Money you receive at your own wedding or a family funeral is not included. The figure is what you give, not a net loss.
Other long-running expenses, like raising children, can be calculated the same way. See At ₩1M a month, raising a child to college graduation costs ₩264M.
Frequently asked questions
How do I set the average amount?
Add up everything you gave over the last year or two and divide by the number of events. You give more to close friends and less to acquaintances, so an average is right.
What end age should I use?
The default is 85. You can set it earlier to the age you expect social obligations to taper off.
Do bank transfers count?
Yes. Count every gift you gave, whether or not you attended.
To run your own numbers, use the Event gift money calculator.