Money can’t buy happiness. Money also can’t buy a lasting marriage. That’s the official word from researchers, at least.
According to a recent study by a number of economists, costly weddings, including an expensive engagement ring, is not a barrier to a divorce. According to the study, more expensive weddings are more likely to lead to divorce.
What price is considered significant? In terms of the engagement ring, spending more than $2,000 is enough to increase the likelihood of a divorce.
Spending anything under a total of $1,000 for the whole event will decidedly lower your risk of a divorce. However, you don’t significantly raise the risk until the price tag for the wedding exceeds the $20,000 mark. Those who spend somewhere between $1,000 and $20,000 experience similar levels of risk to one another, according to this research.
Why can these factors lead to divorce?
Financial stresses could strain a marriage
Big spending on weddings can be very difficult once the wedding is over and the couple is hit with large bills. Financial strain can be very difficult to navigate as a couple.
Expectations don’t live up to reality
An expensive engagement ring and a lavish wedding doesn’t match up with everyday life. Sometimes, when expectations do not meet reality, couples are left with disappointment.
On the bright side, the research reported that there is one thing you can spend money on at will that won’t lead to a divorce: the honeymoon.
Ultimately, divorce is complex and this information should be taken with a grain of salt. There are different motivating factors when dealing with divorce. Studies like this examine trends, not individual cases.
Are you going through a life transition? Call The Law Offices of Silky Sahnan today.