There are many reasons one should get married. If you’ve found that special someone and you genuinely see yourself spending the rest of your life with him or her, then marriage might just be for you. Given that, while the decision to get married seems like an easy one, there are many other factors to consider before you finally tie the knot. Times are certainly changing. You might not realize that in 2016, getting married gets you more than just a lifetime partner. Here are some things to consider before you finally get hitched.
Wedding costs are significantly higher.
Weddings tend to be one of the biggest costs of anyone’s life. In 2016, they’re higher than they’ve ever been. Researchers have found that from 2010 to 2014, American wedding costs have soared by at least 16%. The costs in 2016 are presumptuously worse, as the trend showed that costs weren’t plummeting any time soon. Year after year thousands of dollars are spent on the venue, reception, the engagement ring, décor and a photographer – all things most couples consider bare minimums for a wedding.
Having said that, pushing through with your wedding in 2016 might force you to get a little creative with the costs listed above. It’s not an impossible feat, but it’s definitely something you might want to consider.
Married couples have some great tax advantages.
This might not be a factor that a lot of people consider when they think about getting married, but it definitely should be. As disputes on finances are said to be the top cause of divorce, anything that could help you save better as a couple should be a priority. In earlier years, married couples almost seemed like they were being punished for being married. Taxpayers with similar incomes ended up paying more than they would if they were single. Thankfully, congress has taken steps against that and in 2016 married couples enjoy some great tax benefits.
If your salaries differ greatly, the spouse with the lower income can pull the one with the higher income to a lower tax bracket. This reduces overall taxes for the couple. You can also have your spouse be a tax shelter.
Divorce rates are higher than they have ever been.
Contrary to popular belief, there are many ways to look at the data that gives you an overall “divorce rate”, as there are also many ways to measure it. The projected divorce rate for newly weds of 2016 is still at a staggering 40-50%. This is derived from looking at divorce trends over the past few decades. While this shouldn’t spook you off from walking down the aisle, it’s definitely something one should consider before saying “I do”.
At the end of the day the decision to get married in these trying times is completely up to you. Marriage isn’t for everyone, but it could be just right for you. Marriage could be the most sacred thing for you, or just another ceremony where you get a piece of paper and a ring. It’s different for everyone and only you can tell if you fall in one category, or the other.