When it comes to getting married, less is more — at least if you’re hoping for a long-lasting marriage.
According to a study by economics professors Andrew Francis-Tan and Hugo M. Mialon, there’s a notable correlation between lavish wedding spending, expensive engagement rings, and an increased likelihood of divorce. Their research, which surveyed over 3,000 married couples in the U.S., suggests that extravagance is definitely not the key to everlasting love.
It appears that is comes down to the total wedding budget, not just any individual splurge item. The overall wedding budget also plays a role in the marriage’s fate. Wallet-friendly weddings costing less than $1,000 were linked to a stronger marital bond, starkly contrasting with the shaky foundations of marriages following a lavish $20,000 or more ceremony. The data also shows that couples who spend more than $20,000 on the wedding are 3.5 times more likely to end in divorce when compared to couples who spend between $5,000 and $10,000. Tough news for couples who, on average, are expected to spend around $28,000 on their wedding this year.
Interestingly, the study doesn’t dismiss all forms of wedding spending. The honeymoon is seemingly a positive investment. Couples who jet off on a post-nuptial getaway seem to navigate away from the divorce courts more successfully than those who skip this tradition. So, it might be wise to channel those extra pennies saved from a modest wedding into a memorable honeymoon.
