While a wedding is certainly a cause for celebration, it can also be a cause of financial stress. That’s because many couples end up spending considerable money for their walk down the aisle with the largest sums often going towards engagement rings and the ceremony itself.
Interestingly enough, a recently released study by economics professors at Emory University made some eye-opening findings concerning how these wedding-related expenditures might affect the longevity of a marriage.
Through a survey of 3,000 adults who had been married at some point in their lives, the researchers discovered that those respondents who spent more on their engagement rings and/or wedding ceremonies were more likely to see their marriages end in divorce.
Breaking the numbers down, they determined the following:
- The divorce rate among men who spent between $2,000 and $4,000 on engagement rings was 1.3 times higher than men who spent between $500 and $2,000 on engagement rings.
- The divorce rate among women whose ceremonies cost $20,000 or more was 3.5 times higher than women who spent between $5,000 and $10,000 on ceremonies.
- The divorce rate among those couples who spent $1,000 or less on a wedding ceremony was significantly lower, while the divorce rate among those couples who spent less than $500 on engagement rings was significantly higher.
What’s behind these rather surprising findings?
The professors theorize that spending such vast sums of money on wedding-related expenses can cause a significant amount of financial anxiety, which, in turn, can put unnecessary strain on the marriage at some point in time.
As for the cause of the phenomenon of engaged couples spending beyond their means, the professors point the finger squarely at the wedding industry, which they say has created a new standard of “more is better.”
Regardless of the reasons why a person chooses to legally dissolve their marriage, it’s important for them to consider speaking with an experienced legal professional as soon as possible to ensure that they understand the process, and have a strong advocate by their side to handle important issues like property division, child custody, child support, and alimony.
Source: The Huffington Post, “What the cost of your engagement ring may say about your marriage,” Taryn Hillin, Oct. 14, 2014