(Closed) Did he take out a loan for your ering?

posted 10 years ago in Money
Post # 47
Member
60 posts
Worker bee
  • Wedding: February 2020

My Fiance always says the only loans he will ever take out are for a house and a car. He saved for a year and bought my ring. He used a credit card but paid it in full like he always does.

Post # 48
Member
908 posts
Busy bee
  • Wedding: June 2009

My husband put it on his credit card and paid it off at the end of the month.  Gotta love 1% cash back on all purchases!!

Post # 49
Member
2695 posts
Sugar bee
  • Wedding: February 2008

no loan, I would not have wanted him to go into debt for that!  I don’t think anyone I know has gotten one – I think generally if they can’t afford it the guys either save or just buy something less expensive.

Post # 50
Member
357 posts
Helper bee
  • Wedding: October 2009

Well, I don’t mind being part of the minority.  YES, my Fiance took out a loan to do the ring.  Actually, it served two purposes.  He got the loan through our credit union for 1/3 of the amount needed.  They gave him a cashier’s check (plus the cash that he gave them), so that when he went to the jewelery store, he got the cash discount. 

But he had no credit history.  He had one car note that was paid, and one credit card that he didn’t want to use.  So he took the loan out, and made installment payments for about 6 months and then paid it off with a bonus that we knew was coming.  It helped increase his credit score and I got my ring a little faster…but he did talk with me about doing it that way first, just to make sure that I was ok with the fact that a portion was done on credit. 

Post # 51
Member
188 posts
Blushing bee
  • Wedding: July 2009

No loan here… My husband and I had just returned from deployment… 6 months without being able to spend any money helps with saving a little money… hehe.

Post # 52
Member
1119 posts
Bumble bee
  • Wedding: July 2009

No – and I wouldn’t have wanted him to.

Post # 53
Member
14181 posts
Honey Beekeeper
  • Wedding: June 2009

No, I wouldn’t have wanted him to take out a loan, either. I have a few friends whose rings were bought with 12 month finance-free programs and they busted their butts to pay them off in those 12 months! Buying beyond your means just makes for bad habits later. You can always save and upgrade =].

Yay for deployments buying rings =]

Post # 54
Member
108 posts
Blushing bee
  • Wedding: September 2010

No loan here….fiance had been saving a long time, but in the end, my mother gave him my grandmother’s diamond, which was wonderful! 

Post # 55
Member
97 posts
Worker bee
  • Wedding: April 2010

My Fiance did put a portion of the ring (not sure how much) on a jeweler cc that was interest free for 6 months.  Unfortunately, he didn’t make that deadline (in part b/c a bill got misplaced) but he is very close to paying it off now, about 8 months after buying the ring.

Post # 56
Member
4464 posts
Honey bee
  • Wedding: June 2010

No actual loan here, but I believe he borrowed a little bit from his parents and paid it off shortly after.  He’s trying to clear up some old (and irresponsible) credit card debt so using a card was a big NO.

Post # 57
Member
2589 posts
Sugar bee
  • Wedding: December 2009

nvybaby82…lol…same here!  I guess that was one good thing about his deployment.  He came back with enough money to buy my ering!

Post # 58
Member
6659 posts
Bee Keeper
  • Wedding: May 2010

My fh took out a loan but it will be paid off before we get married. He makes good money but was never a big saver..

Post # 59
Member
271 posts
Helper bee

Hey I can tell you probably want to know if anyone had taken out a loan, perhaps your fiance did? Maybe it was his own way of telling you, that you mean so much to him that he is willing to do whatever it takes to make you happy 🙂

Post # 60
Member
523 posts
Busy bee
  • Wedding: December 2009

Does it count if my fiance is already in debt from medical school?

If so, then he paid with loans.  But he didn’t take out any extra for my ring, he used the money he had left over after his tuition and living expenses.

We’re both still pretty young, but given our future earning potential (he’s going into a surgical subspecialty this year and I’m at one of the best law schools in the country), we didn’t want to have a microscopic ring or really low budget wedding because we’d look back 10 years from now and regret not having what we wanted.

Also buying something with a credit card IS a loan, but you don’t accrue any interest if you pay it off every month, so then it’s more like a method of tender like cash.  I always buy things on credit because it provides you with an additional level of consumer protection, sometimes additional warranties, and your bank can step up to the plate for you if you have to do a chargeback.  If you can control your spending it’s just good sense.

 

Post # 61
Member
10 posts
Newbee

We paid for our engagement rings (he got one too!) out of our joint account.  We’ve been together for a while, and my ring was not expensive.  In fact, his was more expensive than mine! (his was a brand new titanium ring, mine an antique ring, really inexpensive)

The topic ‘Did he take out a loan for your ering?’ is closed to new replies.

Find Amazing Vendors