Did you know that marriage can improve the economy? You might be thinking, “Well, of course it can. I mean have you seen how much it costs to put on a wedding? Think about it – you have the venue, flowers, save the date cards, invitations, reception dinner, the band or DJ, the hotel, the day after the wedding reception . . . . oh, and don’t forget the dress, and any number of other expenses I have forgotten. Of course it helps the economy.” Yes, all of that is true, but it is not what I am referring to.
Married couples spend more money than any other relationship demographic in the country. They contribute more money to the economy than unwed couples living together, divorced couples, and any other category. Not only that, it also has generational financial impacts. It has been reported that $4,000 more per years is earned, and therefore spent, by children who were raised by married parents as opposed to those raised by divorce, unwed, or single parents. There are a number of factors that contribute to this. For example, those growing up in a divorced or single parent household may struggle with having adequate finances. This in turn can impact educational opportunities, possibly resulting in lower paying jobs.
So, what does this mean? Simply this – building solid lasting marriages, learning to resolve differences, and creating stable homes impacts our standard of living as well as the future standard of living of our children. This week’s tip though is not really about finances. It is to identify the things that have long-term relationship building power with your partner and then pursue them with a vengeance. There could be tremendous payoffs – both financially and otherwise.