Solid investments are not found in engagement rings

August 3rd, 2007 by beth16

If you are buying an engagement ring as an investment for the ring’s value you are more stupid than the caveman on the Geico commercials. De Beers and other retailers like to push that diamonds are forever but realisticly their value is not eternal. Read the rest of this entry »

Posted in how-much-to-spend | No Comments »

How much do I spend on an engagement ring?

July 10th, 2007 by admin

The almighty Da Beers says you should spend 2 months salary on an engagement ring. Does Da Beers have your best interest at heart or are they looking to fill their pockets? Honestly, you should get something that will not put you in debt for years to come but still looks. The average engagement ring purchase in 2006 wa roughly $3500.

 The size and quality of the diamond DO NOT reflect the size and quality of your love for each other. Your love for one another is a good investment while a diamond ring is not purchased as a long term appreciating investment.  Keep your investments separate from the tradition and symbolism associated with a ring and marriage.

 It all starts with how much can I afford to spend on a ring.  It may only be $1,000.  Get an idea from your future fiance on the styles of rings that she likes by wandering around a jewlery store on a date night. When I was dating my wife and I would pop into a Zales to just window shop.  This helped me understand her style of jewelry.

What do I do if I don’t even have $500?

I would first learn the value of saving money and living on a budget.  It will only get worse when you get married. BUT I will also mention a few ways to save money on your ring purchase.

  • Browse an antique shop
  • Cubic Zirconia rings look pretty, just don’t lie to your girlfriend that it’s real
  • Pawn Shops (might or might not be real diamonds)
  • Focus more of your purchase on the style of the setting instead of the size of the diamond.
  • Buy a different gemstone instead of diamonds
  • Use a family ring
  • (My Favorite) use the plastic rings from the 25 cent machines. This works well for engagements while still in high school.

Posted in how-much-to-spend | 3 Comments »