For Californians and people throughout the United States, weddings are a major life event they want to celebrate with family and friends. While this is understandable, it can also have ramifications in the future. Paying the wedding debt can be a struggle. As couples begin their married life together, significant debt can cause problems in the relationship and eventually lead to divorce. Statistically, this has been shown to be a growing concern.
A recent study by LendingTree indicates that many couples who have gone into debt from their wedding have thought about divorce. An estimated 45 percent of people from 18 to 53 were in this situation. Almost half said they considered divorce because of it. Comparing that to those who did not accrue debt from their wedding, 9 percent thought about divorce.
More than three-quarters of newlyweds who have debt because of their wedding state they had disputes with their spouse because of it. Twenty percent who did not amass major debt argued about it. 36 percent who had wedding debt said they argued about money. Eleven percent without that debt said the same.
Planning the wedding was also an issue for many couples. Almost one-third said family members caused problems while they planned the wedding. For 28%, money was the main cause of stress. Seventeen percent referenced the guest list as troublesome. Still, money is a common source for marital strife whether it is from a recent wedding or a long-term marriage. This can be for a variety of reasons. When thinking about divorce, it is important to understand property division, how debts will be split, spousal support and more. A legal firm experienced in family law and divorce may be able to help.