Post # 1
My FI did, mainly bc he couldn’t save as much due to student loans. But it’s 0% interest for 18 months and he will have it paid off in less time than that (more like 7 months).
So I’m just curious if others have financed their ring?
Post # 3
- Wedding: October 2014 - Our Backyard/Steakhouse
nope, we bought ours off a classified site. We met the guy at the jeweller, he gave us the appraisal, and had the original bill of sale.
The appraisal was for $9k
We bought it for $1800
Post # 4
@LDay1983: Wow! What a great deal for such a beautiful ring!
Post # 5
Depending on the situation, financing the ring could make a lot of sense (I think your situation is an example). As long as you can pay it off within the interest free period, time value of money says you should finance a large purchase.
Post # 6
Yep. FI paid for my ering half in cash and the other half he financed (12 months interest-free). He’ll have it paid off early in just a few months. He’ll be happy to have it paid off and he’s happy I love my ering. 🙂
Post # 7
@weddingbee098: my FI financed mine with 0% interest as well. It hasn’t been an issue for us. I dont mind, and it was totally his idea, so he doesnt either lol
Post # 8
I’d finance anything that was interest free. Why hand over the cash when I can keep it invested and continue to work for me. I’ve opened 2 credit cards before for 0% interest for 18 months and racked that up until the a month before the due to pay it off. We financed our new car for 0% for 5 years. Credit doesnt always mean we couldn’t pay stuff off in cash, it was a strategic financial move. If he could have financed the ring, I’m sure he would have too.
Post # 9
@VegasRVAbride: Beautiful ring!
@pinkshoes: Make your money work for you!!
Post # 10
My FI did the 0% interest route as well. He spends every extra cent on paying down his student loans. We both knew he wouldn’t save extra cash because the moment he saw it building, he would put it towards a student loan.
If it doesn’t cost extra to do it, I don’t mind financing things.
Post # 11
There’s a lot of Dave Ramsay-esque fear of debt on the Bee, but financing things, especially essentials, may actually work in your favour. We didn’t finance my ring because there was no 0% interest option, but we did put it on a credit card for points (and promptly paid it off).
Post # 12
- Wedding: May 2014 - Madison, WI
Yes, because they had 0% interest and he has no problem with paying it off in that time frame. It just made sense at the time since FI had a lot of other expenses suddenly come up – like moving for a new job.
Post # 13
@Misswhowedding: Exactly FI’s situation, every penny goes to his student loans!
Post # 14
My DH hates going below a certain amount of cash in his savings, so he financed half of my ring (0% interest), and paid it off in about 8 months. He did have greater than the full amount of my ring in savings when he bought it, though!
Post # 15
Why is nobody EVER comfortable just answering “Yes, we financed.”
Everyone has to get into the interest free stuff as if they’re terrified another bee will think they paid interest. Are people on the bee so into shaming others about how they spend their money that everyone has to make it perfectly clear that they didn’t pay a dime of interest?
People are really weird about money.
Post # 16
FI financed my ring. It definitely wasn’t at 0%, but he didn’t have any credit so he is trying to build it. A little interest now to build credit is not a bad thing.