Post # 1
Today Show reviewed a study that said you should spend no more than $2K for an engagement ring. Men who spent between $2K and $4K are 1.3 times more likely to get divorced. Spending less than $500 however also led to higher divorce rates.
Spend between $5K and $10K for a wedding. Spending more than $20K led to divorce 3.5 times more often than those in the $5K to $10K range. Spending less than $1K decreased chance of divorce.
Interesting take on wedding costs.
Post # 2
Lol, I think there are quite a few other factors that have a significantly higher predictive ability with respect to divorce rate.
Post # 3
I don’t think it’s the amount spent that carries the correlation. If anything at all, it may be a marker that reflects the personalities and the philosophies of those who refuse to spend big money at a time in their lives when it’s just not a very wise ROI.
To me “affording” means more than being able to spend the money, it also means being financially secure, including if a job should end, etc. But if our parents had not hosted our wedding, which cost considerably more than the amounts being discussed, there’s no way I would have felt justified spending even 5-10K of our own money on a one day event.
Post # 4
I started a thread a couple days ago about the study they were referencing on the Today show…
In case you are interested in the opinions people shared on there…
Post # 5
That’s great news for me! My ering cost 1700. And our wedding is coming out to about 5k.
Post # 6
yaaaa I think there are other correlating factors at play.
Post # 8
Yeah, there is a lot that could be said about that study, and there are definitely more factors that go into it than just cost of ring or wedding. My ring and wedding band were more than that, though certainly not because I demanded it. He actually insisted on getting something nicer. The wedding cost will probably be around 12k. We could do it cheaper but we want to be able to do some of the fun things we want that aren’t necessary, and we want to have everyone we want there to at least be extended an invite. While I believe we will last forever, if for some reason it doesn’t the amounts spend will not have any affect on that.
I wonder if that statistic came about because money tends to be one of the largest issues with many marriages, and if people are irriaponsible with thier money they ar more likely to run into those financial issues?
Post # 9
I haven’t read the study, I just get firewalled on the pp’s link. But I wonder if cost of living + income + geographic location etc are considered? Just from being on the bee, it seems weddings cost more on the coasts and in big cities…which makes me wonder if higher education, higher paying jobs, less familial reliance might also be factors? Also, age + income?