When Ohio residents begin to plan a life together, divorce is usually far from their minds. They might splurge for an impressive diamond ring and then plan a large, expensive wedding even if they have to go into debt to do so. Down the road, however, these expenses might become factors in their divorce.
Study finds costs of rings might correlate to divorce
A study conducted jointly between two professors at the National University in Singapore and at Emory University analyzed the answers provided by 3,000 adults who were or had been married in the United States, focusing on the connection between lavish spending on rings and how long marriages lasted. The study’s findings included:
- A higher rate of divorce by 1.3 times for men who had spent between $2,000 and $4,000 on an engagement ring than those who spent less than $2,000 but more than $500
- A higher divorce rate when less than $500 was spent on the engagement ring
The professors were clear that while the findings showed a correlation between expenses and rate of divorce, there were other factors that needed to be considered as well, including the financial stability of the couple before the engagement and after the wedding.
Financial struggles are a major factor in divorce
Struggling financially during the marriage can sometimes lead to the spouses deciding that the only answer is the dissolution of the marriage. If couples were not prudent during their engagement and wedding, the debt that they incurred to pay for the splurges sometimes becomes a source of tension in the marriage.
Making sound financial decisions even before the wedding might help a marriage survive later on. However, if the union is definitely ending, you might benefit from speaking with a family law attorney for guidance.