(Closed) Financial advice about my enhancer or stick with the old wedding bands (pics)

posted 5 years ago in Rings
Post # 3
Member
40 posts
Newbee
  • Wedding: July 2014

Your original set looks lovely, but I really love the way it looks with the enhancer! Have you guys considered maybe saving it for an anniversary upgrade? 

Post # 4
Member
2269 posts
Buzzing bee

I would return it and save for it in cash. The amount you’ll wind up paying for it will be too much. Plus, your resentment toward it is another indication that you two shouldn’t have it on credit. You could save up for it and get it as a future anniversary gift. 

Post # 5
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

Through years of experience, I’ve realized that my e-ring and wedding band are totally worth spending more $ on to get what you think is perfect. You won’t be paying it off forever, but you’ll be wearing it forever. And if you settle for something that’s more budget friendly, especially after finding your dream jewelry, you’ll probably end up regretting it more than you would have regretted spending the extra $ to get what you loved.

I wasted so much time and money trying to settle for something more budget friendly and in the end I ended up spending twice as much as I would have if I had just gotten my dream rings to begin with. I can’t sell back my old settings since they’re basically worthless but I had to pay retail prices every time I upgraded.

Post # 9
Member
2269 posts
Buzzing bee

@kazarmo:  Why not ask Schubach or Brilliance.com what it would cost to replicate that enhancer with black and white sapphires? I think tiny white sapphires look indistinguishable from diamonds. I think black sapphires of any size look identical to black diamonds.

Here is my black and white sapphire set. It’s not my actual set. I got it to see if I liked the center stone size.

Do you mind sharing what the enhancer costs and what it costs after paying the interest on the credit card?

Post # 11
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

I think paying interest on something that has no function and really, only loses value is not a good idea. I would return it and save up, then buy it without using credit, if you must have the enhancer instead of the bands you’ve already bought.

Post # 12
Member
3755 posts
Honey bee
  • Wedding: April 2014

@kazarmo:  I loooooove the black diamond enhancer. It sounds like your Fiance feels strongly about this. I understand financial struggles and not wanting to have the extra debt burden, however I also agree that this something you’re going to wear for years and years and years to come and I think you should love it. The debt will be paid off eventually and you’ll have the ring forever. I don’t know how rough your financial situation is so I can’t really say what you should do, but if it were me, I’d keep the enhancer. It looks gorgeous. 

Post # 15
Member
2269 posts
Buzzing bee

@kazarmo:  Let us know what you chose to do. 

 

If the credit card is at 18% interest, with a $1,400 balance, and you pay $35 a month, the total interest paid would be $1,523. That’s JUST the interest. At 18% interest, paying $100 a month, you’d only pay $184 in interest. Your SO needs to take a realistic look to see if this enhancer is worth the initial cost, the interest and the financial strain it may cause. 

 

Here’s a credit card calculator. He can plug in the balance of the card, the monthly payment he’ll be making, and calculate the interest. 

http://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx

He really does need to consider other options. You could certainly have that enhancer made for much less than what you’re paying for it using white and black sapphires. Why not email Schubach and Brilliance.com and get an estimate? Whatever they quote you at, tell them, “That sounds good, but my budget is xyz. Can you make it for that?” Let’s say they say $500. You could ask them to do it for $425. Whatever they quote you at, ask if they’ll do it for 15% less. Send those emails and get back to us. I’d love to hear what they quote you at.

 

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