Couples That Spend More on Weddings are More Likely to Split up
The amount of money spent on a wedding has grown rapidly since 1980. Tying the knot in style back then would set you back about $10,000 to $15,000. As of 2017, the national average was a staggering $25,764. That number ranges from $7,136 in Shreveport (71103), and $28,103 in Bossier City (71111). New research suggests that going all out on a storybook wedding won't guarantee you a blissful marriage. In fact, spending an incredible amount on your nuptials may be an indicator that a divorce is more likely to be in your future.
Economics professors Andrew Francis-Tan and Hugo M Mialon have surveyed 3,000 married couples looking to find common characteristics that lead to divorce. They found that men that spend between $2,000 - $4,000 on an engagement ring were 1.3 times more likely to get a divorce than men who spent $500 -$2000. That affect seems to carry over to the ceremony as well. Metro reports that weddings costing more than $1,981.24 were 1.6 times more likely to end up in divorce.