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

posted 12 years ago in Money
Post # 78
Member
54 posts
Worker bee

I think some people might have been confused about the original question. It wasn’t “How do you feel about taking out a loan to buy an engagement ring?” It was…”Did he take out a loan for your e-ring?” Geez…good to know how some of y’all feel though! Part of the reason I love WB is because it’s mostly free from judgment but sometimes I feel like it gets a little heated in the hive! 

My hubby DID take out a loan for my engagement ring. And I already know how several of you feel about that. But it worked quite well for us and I am happy we did it. Thanks. ๐Ÿ˜‰

I think it comes down to each couple making an informed, educated decision based on their personal, financial circumstances. It just might be that taking out a loan for the engagement ring might be the best way to go in some cases. In other cases, it’s not. It’s really a situational thing. 

Post # 79
Member
84 posts
Worker bee
  • Wedding: April 2010

He did not take out a loan for my ring, thanks to his ridiculous summer salary as a summer associate for a law firm. I mentioned this to him, and he said (seriously), “Well, I didn’t pay cash. I used a check.” What a nerd!

Post # 80
Member
226 posts
Helper bee
  • Wedding: December 2009

No loan here – Fiance put it on his Delta Amex and paid it off immediately, so we got more miles too.  ๐Ÿ™‚  Now we’re flying round-trip first class for free on our honeymoon (he already had a lot of miles saved up).

Post # 81
Member
16 posts
Newbee

I totally agree with DRibeiro13 when she said that people don’t take out loans because they’re “stupid.” Most do it with the best of intentions. He didn’t take out a loan for my ring, but I’d be lying if I didn’t find myself daydreaming about something a bit bigger. At the end of the day though, I don’t care because I love him.

Post # 82
Member
749 posts
Busy bee
  • Wedding: December 1969

Credit card and paid off within a month. I’m with you, <span style=”font-family: tahoma, verdana; font-size: 13px; font-style: italic;”>MarriedinMay , <span style=”font-family: tahoma, verdana; font-size: 13px;”>I don’t know why people are really judgmental about loans. I think it’s partially to do with the recession. A lot of weddings these days seem to be about “look how little I can spend!” or “I can out DIY you!” I wish we could all just be happy for each other no matter how we spend money on our weddings. 

Post # 83
Member
6980 posts
Busy Beekeeper
  • Wedding: February 2011

@cheerful- I think it is backlash for the way the country was for the last 20 years. It used to be “cool” to have the most/biggest/most expensive stuff. Now its “cool” to live debt-free and anyone in debt is a poser or something? 

I think everyone has to decide their own comfort level for debt. Personally, it totally stresses me out so I would not go into debt for anything but my education and a house (and maybe car if necessary). But for other people… it doesn’t stress them out so whatever. I know a lot of people would raise their eyebrows at me because, while I don’t have any other debt, I have about 80K in student loans. Yes, that is a LOT of money to owe… but to me my education was worth it and I’m okay paying that off for the next 82342 years. ๐Ÿ™‚

Post # 84
Member
749 posts
Busy bee
  • Wedding: December 1969

@CorgiTales – Yeah, it’s completely an attitude backlash. I just wonder why we have to judge other people’s weddings on money spent or not spent. How about we make a campaign to judge people on how many years they manage to stay married? ๐Ÿ™‚

And yeah, I feel you on the student debt too. I’m going for a doctorate, so the amount grows every single year… I hate opening the mail.

Post # 85
Member
8375 posts
Bumble Beekeeper
  • Wedding: June 2009

I think there are people who can responsibly pull out a loan (a small one) and then pay it off quickly, totally!

However, A LOT of people cannot pay their loans responsibly. One bad break (car craps out or something) can really set you back, regardless of the economy. As long as you are very responsible about it and make sure you make your payments (ideally w/o interest) and budget smartly, that’s one thing, but just hoping that it “all works out” isn’t smart, and when you just start hoping or assuming the moeny will always be there, that’s how all these people get in trouble.

@Corgi, it totally stresses me out to *owe* money, also! I hate that balance on my credit card and I usually end up paying off the months’ bill early so I can see $0.00 shining back at me, lol.

Post # 86
Member
46 posts
Newbee

We both follow Dave Ramsey’s financial philosophies which means NO DEBT. The only thing we owe on is the house and for that we did a 15 year mortgage vs 30. I would have been furious to know he took a loan. As such, the ring is simple but beautiful. It’s what’s in our hearts that matter.

 

Live like no one else now, so you can live like no one else later…..

 

Jeni

Post # 87
Member
958 posts
Busy bee
  • Wedding: September 2010

NO.  I know people do, but I would rather have waited for the ring than enter into our engagement/marriage in debt.  We bought a house right after getting engaged and that’s a much better investment. 

 

Post # 88
Member
2148 posts
Buzzing bee
  • Wedding: May 2011

No loan…He paid for it out of his savings account.

Post # 89
Member
1041 posts
Bumble bee
  • Wedding: October 2011

no loan… he used all of his savings bonds.

Post # 90
Member
2208 posts
Buzzing bee
  • Wedding: November 1999

Well, he put it on an interest free credit card and he had the money saved up.  He paid it off in 3 months.

Although, he did buy me 2 e-rings and I got to choose.  Don’t think he had enough for both rings but he was allowed to return the one I didn’t want. 

Post # 91
Member
2 posts
Wannabee
  • Wedding: February 2012

Mine used a Q card, and got an interest free deal.  It’ll be paid off a few months before the wedding and not a dime on interest ๐Ÿ™‚  If he was paying interest on it, I would have thought it was silly. 

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