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Are Diamonds Really a Girl's Best Friend?

 Posted on November 18, 2014 in Divorce

engagement rings, financial stress, financial stressors, girl's best friend, successful marriage, Wheaton family law attorney, wedding costsEngagement rings are big business in this country. In 2012, over $7 billion were spent on diamond engagement rings. However, there is a good chance that many a bride-to-be may disagree with the results of recent research. According to a new study, the amount of money a fiancé spends on an engagement ring could be a predictor on whether or not a marriage succeeds or fails.

The study, entitled, "'A Diamond is Forever' and Other Fairy Tales: The Relationship between Wedding Expenses and Marriage Duration," was conducted by a research team made up of economics professors from Emory University and included survey answers from over 3,000 people who were married or had been married in the past. There were approximately 40 questions on the survey that ranged in topics pertaining to a person's current marriage or first marriage (if divorced or married more than once).

Based on the answers given by participants, the team discovered that a couple was more likely to have a longer and happier marriage when less money was spent on an engagement ring. Answers also indicated that the more expensive an engagement ring was, the less likely the marriage was to succeed.

For men, it appeared that the spending between $500 and $2,000 on their bride's engagement ring ensured the best chance at their marriages succeeding. Husbands who spent between $2,000 and $4,000 were 1.3 times more likely to divorce. The same also applied to husbands who spent less than $500 for their bride's engagement ring.

The answers from the women in the survey were very similar to the men's answers. The women who were presented with expensive engagement rings had a higher divorce rate than those women who were given more reasonably priced rings.

One of the explanations of the research team for their findings was that more money spent on engagement rings also appears to indicate that the weddings themselves were also expensive events. These expenses may put increased financial stress on a couple at the beginning of their marriage, setting the tone for other financial stressors. Money issues have been identified in numerous studies as one of the most common reasons why couples split up.

If you are considering divorce and would like to discuss your situation with an experienced Wheaton family law attorney, contact Stock, Carlson & Asso. LLC to discuss your legal options.

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