Millennials & Marriage
Millennials & Marriage
Much has been said about millennials; much of it rude, some of it vicious. The term is not inherently pejorative; it’s used to describe those born between 1980 and the early 2000s, otherwise known as Generation Y. While it often used as an insult, sometimes, it’s just used as a descriptor for a generation – its intended purpose! And that’s how we’re going to use it in this post.
While much is said about millennials, one of the most commented-on ways of live for this generation is the fact they get married later in life. Gone are the days when you married your high school sweetheart and were pregnant by the age of 21; now, it’s estimated up to a third of millennials will never marry and those that do will do so much later in life.
There have been many theories presented as to why this is happening, with no overall consensus. If you find yourself contemplating your own life choices, then it’s valid to question why you feel the way you do about the so-called rites of passage in life. So what are the primary reasons that millennials are choosing to delay marriage?
1) The Need To Save
There’s no doubt that Generation Y are maturing and entering the workforce in difficult economic times. Hot on the heels of the financial crisis in 2008, the workplace has been forever altered. This has had an impact on the finances of millennials, which means they delay their wedding until they can afford the budget to have it as they want it to be. There’s no doubt the modern wedding is expensive, from the wedding planners, the flowers, or even the contemplation of the ever-more popular destination wedding. So millennials would rather wait, save, and only have their big day when it can be as they have always wanted it.
2) Marriage Losing Its Lure
For some of this generation, marriage just isn’t an attractive proposition. Couples are more likely to live together and have children before marriage; more so than at any other time in human history. Some may feel that that’s enough; after all, there’s no greater commitment than having a child with another person! So why get married when you already have all the old benefits of doing so, save for (admittedly minute) tax incentives?
Given how millennials are struggling when it comes to home ownership, some couples are choosing to invest in their financial future rather than splurge on a wedding day. That’s not to say they won’t get married in the future, but for the moment, they are content to prioritise other aspects of life. There is a prudence here that is admirable.
4) Everything Is Happening Later In Life For Millennials
For the baby boomers generation, your life was fairly stable by the age of 30. You would probably be married, have children, and work in a job you would continue in for many years. For millennials, age 30 isn’t the benchmark it once was. Many millennials are choosing to delay everything in favour of life experiences or money saving. Relationships are expected to last longer prior to marriage, children are delayed well into the mid-30s for some couples, and careers are still in their infancy. Marriage will always have its place, but now it’s just a little bit later than it was before.