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What may be the biggest financial mistake made by young couples recently graduated from BYU?

User John Powel
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Final answer:

The biggest financial mistake for young couples who are recent graduates is entering marriage without a strong asset base such as savings, a home, or a retirement plan, which can lead to increased financial stress and potential marital issues.

Step-by-step explanation:

The biggest financial mistake made by young couples recently graduated from BYU may be starting their married life without a strong asset base. According to researchers from the University of Virginia's National Marriage Project, couples who marry without assets such as a home, savings, or a retirement plan are significantly more likely to face marital issues, often driven by financial stress.

This is particularly concerning given the economic challenges faced by Millennials, who were impacted by the financial Recession in 2008 and were often forced to move back with their parents and struggle with student loan repayment due to low employment prospects.

The pressure of student loan debt and the postponement of adulthood, as reported by the New York Times, suggests that financial missteps early in marriage related to inadequate savings and asset accumulation can have long-term consequences.

With many young couples prioritizing education and career over financial stability, the risk of accruing debt increases, potentially leading to financial insecurity and stress that can contribute to marital difficulties, or even divorce.

User Harry Binswanger
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