Study Correlates Risk Of Divorce To Spending A Lot Of Money On Your Wedding

Did you spend a lot of money on your wedding or did you keep things practical and scale back moneywise? A recent study indicates that couples who went all out with spending on their weddings have a greater risk of divorcing later in life than couples who kept it practical. The results of the study are surprising. According to researchers Andrew Francis-Tan and Hugo M Mialon, couples who went for a simpler approach to their wedding actually fared better in terms of the length of their relationship than couples who spent a small fortune on their wedding day festivities.

The study surveyed more than 3,000 couples living in the United States. The research revealed that a higher expenditure on your wedding could lead to an increased likelihood of divorce. The study indicates that spending between $2,000 and $4,000 on an engagement ring is linked to a 1.3 higher risk of divorce when compared against those who spent between $500 and $2,000.

The research further indicated that weddings with a budget of under $1,000 have a lower probability of divorce when compared to those with budgets exceeding $20,000. Spending more than $20,0000 on your wedding, according to the researchers, resulted in a 1.6-fold increase in the likelihood of divorce.

While the study suggests that spending a lot of money on your wedding could increase your risk of divorce, the study also seems to suggest that you shouldn’t hold back when it comes to your honeymoon. Investing in your honeymoon actually decreased the likelihood that a couple would divorce.

Couples who said that their spouse’s physical appearance played a large role in their decision to marry were also correlated with higher divorce rates proving (once again) that love is more than skin deep.

Divorce trends in the U.S. 

While you may have heard that half of all marriages end in divorce, the rate of divorce has actually gone down in the U.S. over the past 10 years. This is substantially correlated with the rate of marriage also decreasing at the same time. In addition, couples are waiting longer to get married than ever before. Today, the average age for a man to marry in the U.S. is 29 while it’s 27 for women. Americans are getting married later in life which may be contributing to a lower divorce rate. Certainly, a dip in the rate of marriage among Americans would contribute to a lower overall divorce rate, but also, fewer marriages are ending in divorce than they were a decade ago.

Talk to a Maryland Divorce Lawyer Today 

The Bel Air family attorneys at Schlaich & Thompson, Chartered represent the interests of divorcing couples no matter how much you spent on your wedding. Call our office today to schedule an appointment, and we can begin the process of untying the knot right away.

Source:

economictimes.indiatimes.com/news/new-updates/costly-vows-uncertain-future-study-shows-correlation-between-wedding-spending-and-divorce-rates/articleshow/102490778.cms?from=mdr