Money Can’t Buy Love or a Lasting Marriage
When it comes to weddings, the popular opinion (at least as far as the wedding industry is concerned) is that bigger is better. A lavish ceremony, an oversized diamond ring, and an elaborate after party are all touted as the ideal beginning to happily ever after. However, according to a study by Emory University in Atlanta, the more money a couple pours into tying the knot, the higher the probability the couple will soon follow their “I do’s” with divorce.
The study examined data contributed by more than 3,000 people throughout the U.S. who have been married and found the following correlations:
- Couples who spent $20,000 or more on their wedding were 46 percent more likely to divorce than couples who spent between $5,000 and $10,000.
- Couples who spent a total of $1,000 on their wedding were 53 percent less likely to get divorced than those who spent between $5,000 and $10,000
Like it or not, money can have an overwhelming impact on a relationship and this study reveals that how a couple chooses to spend their money is indicative of their long-term success in marriage. The researchers also found that when a couple spends beyond their means, even on a wedding and diamond ring, they were in for a marriage rocked by financial debt from the get-go.
Not surprisingly, the study showed that couples with an annual household income of $125,000 were 51 percent less likely to divorce, perhaps because debt and wedding expenses were less likely to interfere with other factors in the marriage.
If you are considering divorce or are currently struggling with financial issues as a result of divorce, do not hesitate to contact the Law Offices of Sheryl R. Rentz. Our knowledgeable and compassionate team can help you preserve your finances and protect your future. Call (610) 645-0100 for a free consultation. We are here to listen and help.