An amazing eight in 10 couples, who divorce within five years, cite high wedding costs as a factor in their divorce. According to a recent study, many couples come into marriage with large student loans and when the cost of a lavish wedding is added, they start their married life deep in debt. This financial burden imposes a huge strain on the relationship and often crippling long-term implications. The day after the wedding with all the trappings–a multitude of guests, a reception with a live band, an open bar, a wedding feast, etc.–reality sets in. Unless the parents foot the bill, and even so, these funds could be better spent as a nest egg for the young couple to tide them over through uncertain financial times, this may be the first decision that ultimately sets the stage for a divorce a few years later. Today’s increased costs of starting a family while repaying large loans are a recipe for disaster. Sometimes it’s best to think low-key when planning the wedding and honeymoon.Tackling debt and the high cost of getting married may seem unromantic, but in the long run, a solid partnership may be built and serve as the backbone of the marriage. A $30,000-$50,000 wedding preceded by student loans of $100,000 and upward may lead to a costly divorce within 5 years.
Plan your wedding with the future in mind. Extend the wedded bliss to financial security.
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Stange Law Firm, PC offers a confidential half-hour consultation to speak with an experienced attorney. Call us at 855-805-0595 or visit us online.
Source: How a lavish wedding could lead to divorce – and why doing it Keira-style is more likely to mean lasting happiness, by Steve Doughty, MailOnline
