What can i wear to a formal event?
Unfortunately a formal dress code does require a suit – which you can rent for a reasonable price. If it were white-tie you would be required to wear a tux but it since they have just said formal it would be assumed that the code is black-tie – so you don’t need to go that far! I would strongly suggest that you buy a suit however (if you can afford it) because there will be plenty of occasions to come (such as weddings) where you will be required to wear a suit – and a good suit will last for many years.