Article courtesy of USA TODAY via “The Rundown”
Money doesn’t buy happily ever after, according to a new study from Emory University.
The study found the amount that people spend on weddings and engagement rings is actually inversely associated with how long they stay married.
The study does not state spending more on weddings causes people to be more likely to divorce, but rather, it highlights a relationship between expenses and the length of a marriage.
To conduct the study, two Emory University economics professors surveyed more than 3,000 people who were married or had been married at some point in their lives.
The study found spending between $2,000 and $4,000 on an engagement ring was associated with “an increase in the hazard of divorce,” as compared with spending between $500 and $2,000, according to the study.
The researchers suggested that wedding costs could contribute to future marital stress. The survey found that spending less than $1,000 on a wedding noticeably reduced the chances of reporting stress about potential wedding debt than spending between $5,000 and $10,000 did.
But don’t tell that to the average American, who budgeted $29,858 on wedding expenses, according to a 2013 survey by The Knot.
The Emory survey found factors associated with a lower risk of divorce were a lot of wedding guests and going on a honeymoon.