“Diamonds are forever” and “Diamonds are a girl’s best friend” are two of the best recognized ad campaigns ever launched. Unfortunately for many couples, a recent study seems to suggest that a bigger price tag for that engagement and wedding ring actually tends to lead to an eventual divorce. Obviously, there are more factors at play — including financial stress — that can lead to conflict. Given the suggested correlation between spending a lot of money for an engagement ring and/or a wedding, some Maryland couples may benefit by considering the protections that a prenuptial agreement may offer them in the event that marital issues do emerge down the road.
Reportedly, 3,000 people who had been in a marriage for at least 13 years were polled about their experience. Those who had laid out substantial cash for the symbolic token of a ring — between $2,000 and $4,000 — had a higher instance of divorce by 1.3 times. Those who kept the cost down to under $500 also had a higher risk for an eventual dissolution of their relationship. Both extremes, apparently, may subsequently be followed by strife concerning the management of marital assets.
The same seemed to be true of the cost of the wedding itself. Those who spent more than $20,000 were at higher risk of divorce. However, unlike the cost of a ring, couples who spent under $1,000 appeared to have the best chance for marriage longevity. The researchers did not offer any solid answers as to what the correlation could be. However, financial stress can weigh heavily on a relationship, and thus, large expenditures may lead to marital discord.
Troubled marriages rarely end simply due to buying expensive rings or planning costly weddings, and any number of issues could lead to the end of a relationship. If the couple included a prenuptial agreement in their wedding plans, then each likely gained some insurance in dealing with the financial issues surrounding a subsequent divorce. Regardless of what wedding costs may be contemplated, Maryland couples can benefit by spending the time before the ceremony to work out an agreement about finances in the event the marriage does not last.
Source: shape.com, “Study Shows Engagement Ring Cost and Wedding Expenses Impact Divorce Rate“, Kylie Gilbert, Oct. 8, 2014