I'm curious, was your ring bought outright, or did you have to make payments on it? What kind of center stone did you get? and if you financed how high was the APR?
Post pics if you want, I like looking at all the pretty ring pics :)
SO and I bought my ring outright with a green sapphire center stone. It's still being made so I don't have a pic to post.
Diamond and other (for the finance option). It was a family heirloom so it was purchased in the 1940s and I'd pretty much guarantee it was bought outright then.
Moissanite and cash. Although I don't have it yet, so no pictures :/
We financed my ring, but it is 18 month interest free financing. We will have it paid off before the 18 months is up. We could pay it off right now if we wanted to.
Cash and diamond, but it's not like it was $50,000 or anything. It was like $3000.
we financed my diamond, but we will have it paid off before the wedding.
Cash and natural sapphire and diamond. Our plan is no debt of any sort so everything is being paid as we go, I don't want to start our marriage off in debt. :)
Cash and diamond. I don't believe in financing anything other than houses, cars, and education. Other than that if I can't afford it now, I don't need it. DH feels the same way.
DH borrowed half the cash from his dad, then paid him back after his next bonus. So it wasn't bought outright really, but it wasn't financed either. He was going to wait to pay cash but a good opportunity to propose came up.
I have a diamond.
Outright and diamond. I wouldn't feel comfortable with him carrying a debt for it and neither would he.
This did mean that we both had to be patient. The proposal was not rushed, saving takes time and I fully understood that fact.
Cash & diamond. We did not finance anything for our wedding. We saved our asses off.
Mine is a very practical $1500 1ct t/w band e.ring with a .6 ct wedding band which prob cost about $300. It certainly doesn't compare to some of the extravagant rings I've seen on this site but I love the blingyness on my finger and how the bands catch the light
It's a cubic zirconia! Actually, he bought it as a promise ring, but after months and months of ring shopping at every jewellers in town and all over the internet and not finding anything that I liked even remoetely as much, he agreed to have it resized even though he would have liked to have bought me something more expensive. No pictures cause he has yet to give it back and propose.
FI saved up for it and we went together to pick it out based on his budget. We both agreed that financing an engagement ring is not a smart decision.
Moissanite/Cash.
Moissanite is incredibly cheap, so it was only ~1000. Before I convinced him that I didn't want a diamond, he was about to buy me a 12k ring -- wtf!
Sapphire, paid for in cash. DH and I had discussed a budget for an e-ring early on in our relationship, and agreed a ring wasn't worth going into debt for.
We financed mine because we agreed that we would rather have the money in a money market account earning interest. We will not pay any interest on it as long as we pay it off before the 18 months is up, and we will. I don't see how that is a bad decision.
I agree that it would be if you are paying interest.
2.2 ct center stone bought out right. I refuse to finance anything wedding related.
There wasn't a black diamond listed but that's what I got and it was paid for cash
@NCSUchick27: Same. Interest free was the only way FI was going to finance. He has the cash to pay for it, but wanted to spread it out since it was interest free, instead of dropping all that cash at once.
Diamond and financed, although it could have been purchased with cash.
Center stone is a 2.4 ct diamond. Traded in a 1.25 diamond after about a year of marriage and paid cash for the balance. It is definitely not a necessary purchase, so it needed to come out of disposable income.
.76 ct diamond, financed for 5 years with NO INTEREST from Samuel's Jewelers which I highly reccommend.
Diamond and cash. We are paying for the entire wedding outright. I bought his ring in cash as well!
Alexandrite, cash, 7000 (he had a separate bank account that he put payments into until he could afford the whole thing.)
Diamond and cash. We buy our new cars paid in full also. The only debt we're willing to take on right now is the mortgage.
Diamond and it was also an heirloom from ~1940 but my FI also bought two side stones and a palladium setting which he paid for outright.
@pinkshoes: We'd like to be able to do that, but we just graduated from college and are poor :/. We managed to buy the ring outright, but had to finance a car to replace his 23 year old one. We did buy a nice used one though and the payments are quite reasonable. It's also our only loan because i'm debt free after college (yay scholarships) and he just owes his family money without interest.
Cash, diamond.
Cash, asha.
Cash, moissanite.
Next year, cash, Amora Gem. =D
He purchased it outright. It was only about 18% of one month's net take-home pay, and he lives on less than he brings home, so it wasn't a big deal. Then the next month after we got engaged he bought the wedding band I picked out, which was about the same cost.
Obviously we could have "afforded" much more, but I really wanted moissanite (wanted it long before I ever joined the bee). I have a 1.1 carat moissanite set in palladium for my engagement ring and a 1.4 carat channel set 11-stone moissanite set in palladium for my wedding ring. I think a big part of loving your moissanite (or any non-diamond stone) is WANTING moissanite, not wishing you had diamond but getting the other gem because you wanted something bigger or couldn't afford what you wanted in diamond.
Even if he had bought diamond, I would have expected him to pay cash. We took Dave Ramsey's Financial Peace University together over the summer before getting engaged and have agreed we don't do debt for anything except a primary mortgage anymore. All our student loans, car loans, etc are all paid for and we're never going back into debt. Especially not for a ring.
FI's ring was only $25 off of Amazon (exact same ring we saw at a jewelry store for $280!!!). So obviously we paid cash for that too :)
We saved our butts off & paid cash. It took us about 1.5yrs to save up, since we are undergrads who live off campus and take out very few loans.
It's a 3ct OEC Amora Moissanite in a custom palladium and diamond setting
Financed and diamond. No interest if it's paid back within a year. FI's been paying quadruple the minimum monthly payment, so it'll be paid off pretty quickly.
cash and diamond. I would never finance anything that is a non-essential for living.
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