Wedding debt can lead to increased likelihood of divorce

According to the latest research, many couples who are going into debt to throw the perfect wedding are feeling the strain in their relationship afterwards with many considering a divorce.

For many couples, the perfect wedding day is out their financial capabilities with many costly aspects including the dress, catering, venue, guest list, and the open bar.

Many couples end up having to take out loans or charge everything to credit cards.

A survey by the Lending Tree has found that 45 per cent of newlyweds aged 18-53 went into debt to pay for their wedding. The strain these debts place on relationships are leading to problems for many couples further down the line.

Almost half (47 per cent) of the newlyweds who went into wedding-related debt said that they’ve considered getting a divorce because of money, compared to only 9 per cent of couples without wedding debt who are considering divorce.

The survey also found that getting into wedding debt doesn’t only increase your divorce risk but it also entices marital disharmony.

Three in four (76 per cent) of newlyweds who went into wedding debt said they fought about wedding-related expenses with their husband or wife, compared with 20 per cent of those without the debt.