Today I’m going to talk about the top three biggest mistakes of young people in relationships. These include overspending on the wedding, getting the most over-the-top rings, and the elephant in the room, divorce.
The wedding ring is probably one of the largest purchases of the beginning of a relationship, right up there with the wedding party and the honeymoon. One fact about diamonds is that smaller ones are a lot cheaper than the larger ones, and so it would probably better for the groom to pick out a ring with several cheaper stones than one with a single larger stone. This is more efficient financially, while still getting a good wedding ring that will probably impress the bride.
The second mistake is overspending on the wedding. Sometimes people will look at the average wedding cost, and try to spend that much on their wedding. That is a very bad way to do it for multiple reasons. First, the average is very distorted by celebrity weddings and rich people weddings. If you are going to do this you should look at the median wedding cost, and not the average. You should, instead, decide what you want your wedding to be like, and set a reasonable budget based upon you and your spouses’ incomes.
The third and final mistake that some people make is marrying too quickly, and then regretting it later. Divorces make you loose a heck ton of money. Not only does all the money spent on the wedding and ring go to waste, there are also legal fees, and that’s not even mentioning the time you will have lost. Try to avoid divorce at all costs.
So those are some mistakes that people make when they are in relationships. They will overspend on wedding and rings, and then all the money that they do spend on that can all go to waste in an instant if you file for divorce.