Charles Russell Speechlys finds that 3 in 4 Gen Z adults plan on tying the knot as young people embrace traditional life milestones
- Our research shows that three quarters (75%) of Gen Z want to get married, while 7 in 10 (69%) want to have children.
- Having children or starting a family is seen as the most significant life event by Gen Z adults, beating buying a home and starting a dream job.
- This research comes as official statistics show that marriage levels are on the rise again.
Gen Z are embracing traditional milestones like getting married and having children more than older generations before them, according to our research.
Our survey which sought the views of 4,000 people, found that three quarters (75%) of Gen Z want to get married, whilst 7 in 10 (69%) want to have children.
By comparison, just 43% of Millennials want to tie the knot, whilst just under two in five (39%) want to have children.
This is backed by the latest government statistics, which show that marriage levels have returned to pre-pandemic levels, with 12.3% more marriages taking place in 2022 than 2019, as younger generations choose to walk down the aisle.
Embracing stability
The new findings come as part of a wider trend that sees Gen Z pursue financial and social stability, despite being perceived as the generation less keen on tradition.
When it comes to key life decisions, having children or starting a family is seen as the most significant event by 40% of Gen Z adults, followed by getting married (19%), buying a home (14%) and starting a dream job (10%).
Compared to older generations like Millennials and Boomers, Gen Z adults are more likely to consider getting married as the most important life decision.
Nearly half (47%) would be open to signing a cohabitation agreement before moving in with a partner or buying a property together, noticeably higher than the average across older generations (23%).
Sarah Jane Boon, Family Partner, comments:
Over the last 20 years, we’ve seen increasing numbers of young people delay weddings, often choosing to live together rather than marry, as Millennials have shunned marriage and the traditional milestones that their parents followed before them.
"We’re now seeing a younger generation buck the trend and return to these traditions, perhaps as a result of growing up partly in a recession and seeking stability in their lives. As marriage rates rise due to the delayed impact of many weddings having to be postponed during the pandemic period, it remains to be seen if they follow through on their intentions.
Romance vs reality
As well as finding love and getting married, Gen Z is concerned with protecting their own assets and wealth.
Among the Gen Z adults who want to get married, nearly half (48%) would be likely to agree to sign a prenuptial agreement, allowing them to choose and control many of the legal rights they acquire upon marriage, and protect their finances. Meanwhile, just over a fifth (22%) would be unlikely to agree to sign a pre-nuptial agreement.
Interestingly, parents older than Gen Z have a mixed preference on their children signing a pre-nuptial agreement in the future, if their children were to get married. Just a quarter (25%) would encourage their children to sign such an agreement, while 27% would be unlikely to do so, and 31% would not mind either way.
For Gen Z who do not want to get married, 1 in 5 (22%) consider weddings to be too expensive, after the average cost of a wedding in the UK rose to £20,700 in 2023. This is up nearly 20% from 2021's average wedding spend of £17,300.
However, when planning for significant life expenses, such as funding a wedding, over two-thirds of Gen Z adults (68%) say it is likely they would receive some financial support from their parents.
Sarah Jane Boon, Family Partner, adds:
Gen Z are romantics but they’re realists. In today’s economy, weddings are becoming increasingly unaffordable meaning, where possible, the Bank of Mum and Dad has to step in to help. We’re seeing a rise in interest in pre-nups from increasingly younger people which can perhaps be partly explained by the fact that they are more likely to enter marriage with the expectation that their roles will be equal, so are more comfortable with separating their finances. There are also wider socioeconomic factors at play. This is a generation that has grown up partly in a recession and is now faced with unaffordable housing and an increasing cost of living crisis, so protecting their own wealth has become a financial imperative.
