Some Texas couples have a desire to kick off their married life together with the perfect wedding. While there is nothing wrong with this goal, a study conducted by a leading online lending marketplace found that going into debt to achieve it could contribute to the end of a marriage. The study was based on a survey of more than 500 Americans between the ages of 18 and 53 who were married within the last two years.
Forty-five percent of newlyweds questioned, according to the study, went into debt to pay for their walk down the aisle and everything related to it. But once the knot was tied, half of them said wedding-related debt had caused them to consider splitting up. On the other hand, less than 10 percent of the couples without wedding-related debt considering getting a divorce. Furthermore, nearly 80 percent of couples who opted to go into debt to have their ideal wedding reported arguing about such expenses. Twenty-percent of couples sans wedding debt said the same thing.
Nearly 40 percent of the wedding debt respondents admitted to frequently arguing about money issues. This was something that happened to only 11 percent of the couples without this type of debt. One in four of the newlyweds also expressed regret over spending too much for the venue, food, or wedding-related beverages. Additionally, 28 percent of the couples questioned said money caused them the most stress during the wedding planning process.
Should debt-related issues that started with wedding preparations result in the decision to end a marriage for a couple with significant individual or marital wealth, a high asset divorce attorney may consult with an accountant or financial advisor. The purpose of doing so is usually to identify all assets and come up with a plan to protect important financial holdings or physical properties.