Many men enjoy buying their soon-to-be wife a large engagement ring. From there, some couples spare no expense when it comes to planning their ceremony. While this sounds harmless enough on the surface, it could increase the likelihood of divorce.
A recent study conducted by Emory University Department of Economics professors suggest that the more money spent on an engagement ring and ceremony, the shorter the marriage will last.
To reach this conclusion, the professors examined data from a survey of more than 3,000 people who got married in the United States. The report added the following:
“The wedding industry has grown substantially throughout the 20th century in part due to the rise of consumerism and industry efforts to commodify love and romance.”
Some of the most interesting statistics from the study are as follows:
— Those who spend more than $20,000 on their wedding, not including the cost of the ring, are 46 percent more likely than the average couple to face divorce.
— The risk of divorce decreases from 46 percent to 29 percent for couples who spend between $10,000 and $20,000 on their wedding.
The research study also notes that the financial burden of an over-the-top wedding can lead to financial stress, which can eventually kill a marriage.
There is no scientific way of determining the likelihood of divorce, but this study shows that spending more upfront on a ring and ceremony could increase the chance. Anybody who finds him or herself in this position may wish to have a family law attorney review their situation and provide guidance.
Source: New York Post, “The pricier the ring, the likelier the divorce” Oct. 15, 2014