Ft. Lauderdale, FL- A wedding is a milestone in life so naturally when couples walk down the aisle they want to do it in style. According to a Real Weddings Study, the average costs of a wedding in the U.S. is $30,000. Before a lavish wedding, there is the engagement ring, another major expense. But recent studies indicate that spending lavishly on your engagement ring is not necessarily the secret for a long-lasting marriage and just may drive you to divorce.
A study conducted by two economists at the Emory University in Atlanta indicates that splurging on a big diamond may actually cause problems for a couple down the road.
Professor Hugo M. Mialon and assistant professor Andrew M. Francis conducted a survey of 3,000 couples who have been married or recently married to evaluate the correlation between how much they spent on their nuptials, wedding ring included, and how long their marriage lasted, the Atlanta Business Journal reported.
The professors learned that spending $2,000 to $4,000 on an engagement ring corresponded with “an increase in the hazard of divorce.” Couples that spent between $500 and $2,000 for an engagement ring had a lower rate of divorce.
The study suggests that entering a marriage with wedding debts can cause marital strife. Couples who spent less than $1,000 on their wedding were less likely to be stressed out by money at the beginning of their marriage.
Researchers said spending more on the actual wedding and an extravagant honeymoon is a better for the marriage in the long run. There are many reasons why couples divorce, but money is always a big issue, ask any divorce attorney.
In a 2012 study, researchers at the University of Kansas found that when couples begin to fight about money early on in their relationships, in spite of high their net worth, were at a higher risk of divorce. This, researchers concluded, was because arguments over money tend to be more intense and longer in duration than other disagreements.
Researchers believe strife over money can be indicative of larges issues such as trust or an imbalance of power in the marriage. A lesser earning spouse may not feel like they have equal say and power in their marriage. Spouses may have different viewpoints about money; beliefs that are deeply ingrained and difficult to for a couple reconcile. One spouse may see money as a status symbol and want to spend while the other may be more frugal and see money as a means of security, preferring to save for a rainy day.
If money is an unreconciled source of strife, it makes that it would also be a major issue in divorce. This is why the help of a knowledgeable divorce attorney is critical when a couple’s marriage cannot be salvaged. With their assistance, you can be certain to settle the financial terms of your divorce so that your lifestyle doesn’t change dramatically or lose out on the financial support you need.