Okay so my boyfriend is wanting to to buy an engagement ring..i have it picked out and everything..its not that expensive but i was wondering the best way for him to buy it...get a credit card and buy it...or the "lay away" type thing where he pays whatever he wants each month while it stays with them...or depending on his credit he puts so much down and they give him payments each month..or does anyone else know a better way? please help..
2007-06-05 15:29:40 · 9 answers · asked by Anonymous in Family & Relationships ➔ Weddings
If you don't have the cash, you should not buy it. Money problems are the leading cause of divorce and divorce rates are over 50%.
2007-06-05 15:33:36 · answer #1 · answered by dddbbb 6 · 1⤊ 3⤋
These days apparently the statistic is that an engagement ring usually costs 1 months salary... so based on that, if you dont have the savings, or funds immediately possible, i wouldnt buy it.. put it away on "lay-buy" or "lay away" and just make weekly payments on it.
you both obviously want to get engaged, and know its coming to that point, so you obviously dont need it in a rush!
Be sensible with your money. dont "splurge" on things you cant immediately afford, or soon pay off without accumulating interest on credit cards.
Congrats and good luck :)
2007-06-05 15:40:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
We did the lay away thing. but we only had it on layaway for 2 months, and that way I had no idea when he was paying it off or going to surprise me with it!
Credit sucks, they charge you so much more for interest than you'd even realize. My sister bought a $400 diamond horseshoe ring on credit with Jareds, and ended up spending more than $900 with the credit.
because they say, no payments for 12 months and dont send you a bill till then, but they've charged you interest for that entire time
2007-06-05 15:37:22 · answer #3 · answered by mannasox 4 · 0⤊ 0⤋
Ideally - pay for it all at once. If he uses a credit card he will pay more for the ring due to interest charges. The "lay away" thing is a good alternative, but you don't get the ring right away.
If the ring is simple you may want to talk to a custom jeweler, sometimes they can make the ring for cheaper than the store is selling it.
CONGRATS & GOOD LUCK!!!
2007-06-05 15:33:24 · answer #4 · answered by longhornfan1722 4 · 0⤊ 0⤋
NO CREDIT! He should be choosing a ring for you that HE can afford, and save for - there is NO reason to go into debt over a ring. He can get diamonds and gold for $100 and up.
2007-06-06 02:12:04 · answer #5 · answered by Lydia 7 · 0⤊ 0⤋
First don't buy your ring at a deparment store with their fancy lighting and crappy stuff.
I would go to a custom jeweler that your family or friends know. If you don't have that try the link below to a good website that sells to customers off of the cruise ships. Great stuff and cheap.
http://www.shopdi.com/
If you can't buy it with cash it means you can't afford it. I say that now, but when I did it I purchased it on credit and I couldn't afford it.
2007-06-05 15:41:43 · answer #6 · answered by Mr. Ed 4 · 0⤊ 0⤋
It depends......how long does he want to wait to give it to you now that you know he's getting you one? I would definitely go for the credit and make payments. That's what my husband's always done.
2007-06-05 15:34:39 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Credit card. Putting your wedding ring on layaway is so white trash.
2007-06-05 15:43:44 · answer #8 · answered by manybagolike 4 · 1⤊ 2⤋
If he can swing it, the best way is cold hard cash.
No payments, no debt. is the way to go.
2007-06-05 17:02:45 · answer #9 · answered by iwish40 3 · 0⤊ 0⤋