Diamonds may be a girl’s best friend, but depending on how big her engagement ring is, it could cost her her marriage--so says a new study from Emory University.
Economic professors at the university surveyed 3,000 U.S. adults who had been married at some time in their lives and found that participants who spent major cash on engagement rings or weddings were more likely to end up divorced.
The study determined the following via HuffPost:
Men who spent $2,000 to $4,000 on engagement rings were 1.3 times more likely to end up divorced than men who spent $500 to $2,000. Women who received expensive engagement rings also experienced higher rates of divorce.
Women whose weddings cost $20,000 or more were 3.5 times more likely to end up divorced than women who spent $5,000 to $10,000. (According to The Knot, the average cost of a wedding in the U.S. is $30,000).
Those who were more frugal with their coins ($1,000 or less) when it came to financing their wedding decreased the chances of divorce. However, when it came to engagement rings, spending too little was just as dangerous as spending too much. Those who spent less than $500 experienced higher rates of divorce. A happy medium is probably best.
The study’s researchers say the link between high wedding and engagement ring costs and divorce may be financial stress on the bride and groom, who become obsessed with having the perfect day--even if they can’t afford it.
Women whose rings cost over $2,000 were three times more likely to complain about stress related to debt accrued from the wedding. Additionally, those who spent less than $1,000 on their weddings were 82 to 93 percent less likely to be stressed out about finances.
Though one with common sense would assume that if one can’t afford an expensive wedding or engagement ring then they wouldn’t spend it, researchers blame the wedding industry for creating a cultural standard that drives people to spend their last dime for the perfect wedding experience.
Still, the study did determined that those who had more wedding guests (without spending more money) and a honeymoon had longer marriages.
(Photo: Rick Gomez/Getty Images)