Newly engaged couples are increasingly delaying their nuptials because of financial reasons, according to new research.
The study of 5,000 married US adults revealed that couples are increasingly delaying their wedding plans due to the rising costs of getting hitched.
The new survey displayed how marriage proposals have evolved over the past decade, including a surge in the number of couples who now say getting married caused a significant financial burden.
One in three (30 percent) of couples engaged in the last two years had to delay their wedding for financial reasons, according to the study, which was conducted by online engagement ring and loose diamond retailer JamesAllen.com.
Despite today’s couples spending slightly more on the proposal itself – whether through experiences or hiring a photographer – 30 percent say that they delayed nuptials for financial reasons, a significant increase from the 8 percent of couples a decade ago.
In addition to these financial strains, the JamesAllen.com study found that the engagement process itself has changed dramatically in the last decade, as a full 33 percent of couples engaged this past year involved a photographer for the big moment, as opposed to just one-in-ten a decade ago.
Couples are also increasingly adding a personal element to their rings with 61 percent personalizing their rings now – compared to just 20 percent who did so 10 years ago.
Splitting the cost of the ring is also trending upward, as the percentage of couples that choose to do so nearly doubled over the past ten years – spiking to 9 percent. And with good cause, as the average cost of a proposal, not including the ring, jumped up from $271 to $452.