When it comes to engagements and weddings, many people tend to go over the top even when their finances aren’t up to scratch. Unfortunately, this sets of a chain of events that pave the way to a speedy divorce.
It is easier to withstand a spouse’s annoying habits than it is to cope with perpetual money problems, notes a divorce lawyer in Colorado Springs, CO. In fact, money is the leading cause of friction between spouses. Research studies indicate that financial conflicts during the early stages of a marriage to be an excellent predictor of divorce. With this information at hand, avoiding these money mistakes as they can sound the death knell on your marriage.
Splurging on the engagement ring
Diamonds are a girl’s best friend they say, but, financial security and not having to worry about a mounting pile of bills trounces diamonds by a mile. Hence, you shouldn’t be sucked by unrealistic societal expectations set by some diamond merchants keen to sell more gems. For instance, dropping $6,000 for a diamond ring gets you an average stone.
But on the domestic front, those are lots of utility bills or even mortgage payments. While it is okay to impress your would-be bride, don’t bend over backwards to impress them by racking up a pile of debt. Having a somber conversation about the issues ensure that you’re on the same page and saves you quite a bundle.
Having a grand wedding
Unbelievably, couples dropped a whopping $35, 329 on their wedding day. While the party might be lavish, you will undoubtedly gnash your teeth if you funded the occasion from your credit card. If you are burdened by student loans and other credit card debts, ditch the idea of having a grand wedding.
You can put the money to a better cause. With a little bit of creativity, you can have a great wedding for less than five thousand dollars. Just weigh what matters to you the most, impressions or financial security?
Money, it emerges during many divorce proceedings, is often at the center of many marital woes. Avoiding these costly mistakes might give your marriage a fighting chance to survive.