Tuesday, October 23, 2012

An engagement ring you can afford


We definitely live by what was shown to us in movies and fairy tales. Even after life has shown us differently over the years and our own experiences, we still want that “and they lived happily ever after”! Don’t we? We picture ourselves in the big moments in life like the princes and princesses in the books. Well, hear me out now, I don’t ever see Prince Charming trying to make ends meet and pay for rent, groceries, and juggling with tons of bills. He just shows up with that little velvet case and sweeps the princess off her feet with a gigantic engagement ring. We never really see what the actual marriage looks like after that, so we can’t really rest assure that a big diamond ring guarantees a better life, can we?



The idea of the purchase
There’s the general notion, when it comes to these sorts of events, that what you should spend on an engagement ring is the equivalent of two month’s salary. Of course that the people that came up with this number is the same people who run the diamond and jewelry industry and who are the only ones that will profit from the purchase. They don’t take into account that this decision -they might call it investment and to a certain extent, let’s face it, it is! –needs to be measured against other expenses that are most real in your life.

The reality of the purchase
You might want to (and are willing to) spend two month’s salary or even more in an engagement ring, and you are absolutely free to do it. However, when it comes to budgeting and thinking this through affordable terms, ask yourself: a) will using cash to buy the ring mean to eventually live on an uncomfortable and binding budget for months? Or b) if you finance it, can you deal with the monthly payments that will now have interest? Will that make the ring considerably much more expensive?

The practicality of the purchase
We’ve established what people think you should spend on a ring, and we’ve made you ask yourself how much you can actually spend on a ring. Now, we need to consider the practical aspects of the purchase in order to give it a more realistic hue.
If you need to find an affordable ring it probably means that you have plenty of more expenses to come across. Getting married usually means starting to save up for a house, for the actual wedding, for the honeymoon. If you choose a cheaper engagement ring, you get that expense out of the way sooner and the both of you can start thinking of those possibilities.
How about your fiancée? Do you know what she likes? You might be underestimating her choice in this matter. Some women don’t pay that much attention to engagement rings and would much prefer to have a fancier wedding band as opposed to the classic simple gold band.

Now that we know that we don’t actually live in a fairy tale and that these decisions take so much more from us than just wishful thinking. Give it some time and think it through. Think of your expenses, what you like, what your fiancée would want, what else you can do with the same money, think it through!

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