(Closed) Spin off: Would your E-ring mean less if it were financed?

posted 10 years ago in Rings
  • poll: Would your Engagement ring mean les if you SO didn't pay in full?

    Yes, it would mean less if it was financed.

    Nope, I don't mind at all.

    Other. I will explain...

  • Post # 25
    Member
    3977 posts
    Honey bee
    • Wedding: May 2011

    Yes. It would mean less to me. If he was dumb enough to not only waste a ton of money on a piece of jewelry, but on top of that to not even be able to pay for it I would be very annoyed. Close to a deal breaker honestly. Waste and chains for a shiny rock! Seriously! No.

    Every time I looked at it I would remember that he was irresposible and had no clue about what I would want for us both.

    Post # 26
    Member
    130 posts
    Blushing bee
    • Wedding: September 2012

    No, I don’t think that it would have meant any less to me if Fiance had financed my ring. But, I would have minded if he did. We agreed before that any sort of monthly payments would make us qualify for lesser of a mortgage. Because of this, we both want to keep our montly payments to a minimum. I would have felt so quilty if we couldn’t get a house we loved because of my ring. We agreed that the ring should be paid in full. We’d rather have a less expensive ring and a house we love, than a more expensive ring we couldn’t afford with our immediate funds and a house that is just okay.

    Post # 27
    Member
    1398 posts
    Bumble bee
    • Wedding: May 2012

    It wouldn’t mean less, but if he had financed it, or gotten a ring that was more than we could afford, it would have been a great cause of stress. I was very clear when we were talking about getting engaged that I did not want an expensive ring, that I didn’t want him to go into debt for this. I pointed out several rings I liked, that I knew were affordable for us, and he did the choosing.

    Post # 28
    Member
    2486 posts
    Buzzing bee

    Honestly I wouldn’t have been happy if Fiance financed my e-ring. Neither of us believe in living beyond your means and I kind of view it as that. The only purchases I ever intend to finance are cars and houses. I pay for everything else up front.

    And honestly I didn’t care one bit about how much DH spent on my e-ring. I just told him to spend whatever he felt comfortable with, nothing more. I’m sure my ring is far less expensive than most on this board but I couldn’t imagine anything else on my finger.

    Post # 29
    Member
    4410 posts
    Honey bee
    • Wedding: December 2010 - Savannah, GA

    I had to vote other, because the ring wouldn’t mean less. He would have still asked me to marry him, so the meaning and the sentiment behind it would have been the same. However, I couldn’t vote ‘nope I wouldn’t mind at all’ because I would have minded a great deal if he had taken on debt to buy me a ring. 

    Post # 30
    Member
    1755 posts
    Buzzing bee
    • Wedding: October 2014

    I voted other, because it wouldn’t mean less but I wouldn’t be able to enjoy the ring as much if it were financed because I would feel guilty about it.  I don’t like the idea of my fiance going into debt for me.

    Post # 31
    Member
    1995 posts
    Buzzing bee
    • Wedding: June 2010

    It would mean less to me.  I would feel guilty.  I would hate for DH to go into debt and take out financing to buy me a diamond.  Yes taking out a loan technically makes you in debt – regardless of whether you pay every month on time or not. 

    We believe in only buying what we can afford – minus grad school.  One day we’ll take out a mortage but we paid both our cars off in full!  We pay off our credit card bills each month and essentially pay cash for all our food, rent, expenses, trips, gifts etc.  Financing something like a ring would not fit in our relationship.  It wouldn’t be his debt for my ring – it’d be ours collectively.  My e-ring was the last thing that wasn’t an ‘our’ purchase!

    Post # 32
    Member
    5278 posts
    Bee Keeper
    • Wedding: October 2009

    Personally, I would of been upset, knowing that my husband didn’t save for my Engagement Ring…

    In my case, techincally he did finance, he signed a 0% for 6 months – but, he had saved the money and could of bought all in cash. However, we do see value in building credit w/o paying finance charges; which is why he choose this method vs. all upfront, and he paid the ring before finance could accrue.

    Post # 33
    Member
    2187 posts
    Buzzing bee
    • Wedding: June 2011

    DH saved over half of what my ring cost and used a very small loan for the rest. It means a lot to me either way, because he went to a jeweler that’s 2 hours away after he worked all night, and spent the whole day picking out my ring and learning about the best quality of diamond.

    Both ways, I think the spur of the moment is sweet and saving for months is thoughtful.

    Post # 34
    Member
    785 posts
    Busy bee
    • Wedding: July 2011

    If my Fiance had gotten me a gift that was so expensive he was making monthly payments on it, it would literally make me sick to my stomach and I would make him take it back.  All that would tell me is that my man got suckered into making a stupid purchase, because financing an engagement ring is a very, very foolish thing to do. So yes, it would not mean as much to me, because it would stop meaning that he got me a sweet and thoughtful gift and start meaning that he got me something because he was conned into believing that he should–which is what jewelers do when they try to tell you that a ring way out of your budget is a good financial investment.

    Post # 35
    Member
    11324 posts
    Sugar Beekeeper
    • Wedding: February 2011

    I would not have been happy if my guy had bought a ring on impulse and financed the whole thing, or spent so much on a ring that we’d be paying it off for the next year+. At that point I’d feel like he should have a) planned better and b) been more reasonable about the size of ring he purchased. 

    That being said, (as I stated on the other thread), my DH did finance my ring partially for a couple months (like maybe 4 after we got engaged?). He had been saving up and had over half the money he needed. He knew that he’d have the rest of the money soon enough (a matter of just a few months), he knew that there was a 0% interest plan he could use, he didn’t want to compromise on the quality or size of my ring, and he didn’t want to wait the extra few months before proposing. In that circumstance I think he did exactly the right thing. 

    Would it have been more ideal if he’d been saving for longer initially so it was 100% paid before we got engaged? Sure. But honestly I know that he started saving the very instant I gave indication I was ready to get engaged soon. So I know as soon as he thought I’d say yes he started working at it. I find it hard to fault him for not planning for something he didn’t know was going to happen. 

    Post # 36
    Member
    3363 posts
    Sugar bee
    • Wedding: December 2011

    This makes me giggle inside.

    Its no one’s decision besides your Fiance how he’s going to pay for that ring. So give up the thinking of what it means, because it shouldnt have any other meaning than: “I LOVE YOU AND I WANT TO SPEND THE REST OF MY LIFE WITH YOU!” There is NOTHING wrong with financing a ring. Especially when they offer you a GREAT financing plan. So I guess we ladies that have FIs/DHs that chose to finance all or partial of the cost of our rings, they must be complete idiots.And how many of you ladies really think YOUR going to be footing that bill? Its FI’s name right? until you two are married that bill is not your problem. For Example: we already live together and he still had every intention of paying it off by himself.

    How about smart in thinking, one: its great way to BUILD UP credit being young; two: why throw all the money i have in my current savings on a ring, in case we need that money that was in our savings account for an actual emergency. I’ll be broke and/or sick but I sure will have a pretty ring to keep me happy/entertained!

    My ring was UNDER $900! Fiance put down about $400 and Financed the remainder. They offered him a 1 year, no interest. HECK YES! So guess what, he took the time to pay it off in full and still didnt pay ANY extra, than if someone were to walk in with CASH!

    **After posting and re-reading it sounds super defensive, I dont mean for it to be, its just my opinion (= **

    Post # 37
    Member
    2599 posts
    Sugar bee
    • Wedding: June 2011

    Not at all. 

    Post # 38
    Member
    2392 posts
    Buzzing bee
    • Wedding: September 2011

    Other – I’m not a jewelry person and there’s no way I want to be walking around with serious money on my fingers.  I would have been upset if he financed the ring (which he NEVER would have done – dude hates money so much that he doesn’t even have a credit card) not because it wasn’t paid for but because it meant he spent a lot on a ring.  Other people can definitely have different priorities – I can see why a nice ring would be really important – but jewelry is so far down our priority list.

    Post # 39
    Member
    3147 posts
    Sugar bee
    • Wedding: February 2010

    I voted other:

    NO, I don’t think the ring would mean less for any reason at all! not if it were financed, or if it was cheap or a hand me down, or if he found it in a gutter. I think the only thing that would take away the sentimental value of a ring is if he stole it!

    however, I didn’t like the 2nd answer provided. I would not be happy with it if he financed my ring. if he had done that, it would have meant he picked out a ring that was more expensive than I wanted. if he was paying interest on it, I would have knocked him over the head.

    btw: in the other ring finance post: somebody mentioned that financing does not necessarily have to be a bad thing. I agree. people have different reasons to finance things and sometimes there is 0% interest. I just personally don’t want to do it. when you finance a ring AND has to pay interest on it, I just think that’s a bad fianancial planning for items that are not necessary for your survival. however, what other people do is their own business. 

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