LendingTree recently released a survey taken by 506 people between the ages of 18 and 53 in Kentucky and elsewhere who were married in the last two years. It found that 45% of the respondents had gone into debt to fund their wedding. Of that amount, 47% said that they had contemplated getting a divorce.
Furthermore, 36% of those who went into debt to host their wedding said that they argued with their spouse over money. About 25% of respondents who had wedding debt said that they regretted paying so much for food or the venue where it took place. Among respondents who didn’t go into debt for their wedding, only 9% contemplated getting divorced. Only 11% said that they argued with their spouses on a regular basis about financial issues.
The survey found that 28% of respondents said that they were most stressed about money during the process of planning their wedding. It was revealed that about three-quarters of those who needed help financing their marriage ceremony got into arguments about the overall cost. Conversely, only 20% of those who did not finance their weddings with a loan argued with their significant others about the cost of getting married.
The end of a marriage can be an emotional event for many people. In some cases, their emotions may influence the decisions they make relating to property division or creating a parenting plan. Individuals may be able to avoid succumbing to their emotions by hiring an attorney or seeking the help of a mediator. These individuals may be able to take a more objective look at the case and make it easier to create a settlement in a timely manner.