Unmarried Men and Women Think of Marriage Funds as... Men 200 Million KRW, Women 150 Million KRW

Shinhan Bank '2020 Ordinary People's Financial Life Report'
Married people recommend marriage if you save 160 million KRW
Appropriate annual income for marriage: Men 45 million KRW, Women 31 million KRW

[Asia Economy Reporter Kwon Haeyoung] It was found that unmarried men believe they need 200 million won for marriage funds, while unmarried women think having 150 million won is sufficient to have the financial capability to get married.

On the 30th, Shinhan Bank conducted an email survey targeting 10,000 economically active people aged 20 to 64 nationwide (95% confidence level, margin of error ±0.98%p) and announced the '2020 Ordinary People's Financial Life Report.' According to the report, unmarried men responded that a total of 196.5 million won is needed for both men and women to prepare a newlywed home and wedding expenses. Unmarried women thought that 152.83 million won combined would be enough and that any shortfall could be covered by loans.

Married respondents answered that 161.79 million won is sufficient as marriage funds. They believed that saving up to 200 million won would delay marriage, so it is better to supplement with loans to prepare a newlywed home and have the couple repay it together through their combined income.

The expected annual salary level for a marriage partner was more generous from men than women. Unmarried women expected their spouse's annual salary to be 45.48 million won (3.79 million won per month), while unmarried men thought 31.61 million won (2.63 million won per month) was sufficient for their partner's salary. Regarding their own salary level, men responded that it should be at least 42.35 million won, and women said 36.73 million won or more to feel ready for marriage.

For the first wedding anniversary gift, both married men and women chose cash as the number one desired gift. After cash, women preferred receiving jewelry and bags/wallets as gifts, while men preferred electronic devices and bags/wallets in addition to cash.

As allowance for parents, it was considered appropriate to give 300,000 won on birthdays and 500,000 won on milestone birthdays such as 60th or 70th. For domestic travel, 200,000 won was deemed suitable, and for overseas travel, 500,000 won was considered appropriate.

This content was produced with the assistance of AI translation services.