Costly vows, uncertain future: Study shows correlation between wedding spending and divorce rates

economictimes.indiatimes.com:

In a time when weddings can cost a fortune, this study is here to shake things up. Some people believe in going all out for their big day, while others prefer to be smart with their spending. According to this research, those who go for a simpler approach might have a better chance at a lasting relationship and lower chances of divorce.

It's a new perspective that might make you rethink what really matters when it comes to tying the knot. Conducted by economics educators Andrew Francis-Tan and Hugo M Mialon, the study delved into the wedding and marital experiences of more than 3,000 individuals in the United States. According to a report from CNN, the study revealed that a higher expenditure on your wedding could lead to an increased likelihood of divorce.

The researchers' paper states that among men, spending between $2,000 and $4,000 on an engagement ring is linked to a 1.3 times higher risk of divorce in comparison to spending between $500 and $2,000. Furthermore, the research indicated that weddings with a budget of under $1,000 have a lower probability of divorce in contrast to those exceeding $20,000, resulting in a 1.6-fold increase in the likelihood of divorce among women.Your honeymoon budget reveals this While splurging on a wedding might not be ideal, the study suggests that investing in your honeymoon could be a wise move. Opting for a post-wedding getaway is not only enjoyable but also contributes to reducing the likelihood of divorce.