It’s no secret that getting married is expensive, and in this economy, it’s become even more so. That’s why Gen Z and millennial couples aren’t getting married, a new study has found. The Thriving Center of Psychology spoke to 906 unmarried millennial and Gen Z couples this past June.
According to the study:
- 73% said it’s too expensive to get married right now with the state the economy’s in
- 83% said they want to get married someday
- 3 in 5 are already living with their partner
- 15% share a child with their partner
- 70% have a pet with their partner
Research from wedding platform “The Knot” shows that the average U.S. wedding cost $30,000 last year, which is up $2,000 from the year before. In larger cities like Boston, New York, and San Francisco, the average cost of a wedding is well above that, with couples spending more than $50,000.
Source: Fortune