Money, above all else, is probably the biggest source of anxiety for anyone out of college that doesn’t already make bank in a corner office (read: pretty much everyone). Student loans payment, escalating rent, and the weekly forty-dollar brunches — these things add up. And frankly, if you’re not constantly feeling poor as hell because you’re living a luxurious lifestyle well beyond your means, we’re probably not going to be friends.
Therefore, the news that men are forecasted to spend more than ever on engagement rings came as a huge blow to my lifestyle that revolves around me sitting at a computer pressing refresh every five minutes hoping to get a pair of $300 Yeezy Boosts that I’ll wear out in less than two months. Because per Bustle, it looks like everyone delaying their engagement while they establish themselves professionally is going to lead to more expensive engagement rings.
Millennials are postponing marrying until later in life, leading to a decline in weddings over the last 15 years.
However, a larger population of 20-39 year old people in upcoming years should serve as an offset to the wedding rate decline. Assuming the rate of weddings continues to fall by 0.7% over the next six years, weddings should remain relatively flat.
People who opt to get engaged later in life often have greater disposable income to spend on engagement rings, providing a natural comp tailwind for jewelry retailers.
This seems counterintuitive considering people between the ages of 20-39 aren’t getting married primarily because of financial reasons. Now there’s an expectation that we’ve gotta ball out on a diamond because we waited longer and might take down a little more cash per paycheck? Don’t get me wrong, but that extra cash should probably go towards the whole “not living paycheck-to-paycheck” thing rather than a diamond that has a 50% chance of ending in litigation.
Sure, it’s a pessimist’s point of view, but fuck. How am I supposed to afford Yeezy Season 4 if my fiancee is walking around with 3 carats on her left ring finger? Exactly. .
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