Post # 166
Fiance and I are approaching 30, and live under our means, not merely within them, but under them. We have a mortgage, two paid off vehicles, my student loans are paid off (I worked during college and held two jobs for a few years immediately after). Fiance is finishing school and pays as he goes in cash for his tuition. Neither of us received any special inheritances or had parents pay for us. We both religiously find coupons/deals for pretty much everything we buy, put a lot in savings and 401k, and still manage to have some fun here and there on a frugal budget. That said we were fortunuate not have to expenses from any poor decisions when we were younger (I have numerous friends with poor credit and debt because they didn’t understand how to use at credit card at the age of 19) and we don’t have kids. Neither of us started out with above average salaries, but have just worked and advanced in our careers.
That said, my ring is a colorless 1 carat center stone with no visible flaws and it appraises for double what Fiance paid for it, he paid well less than 7k for it and paid for it up front. It’s beautiful and I’m so glad he went through a private jeweler. We often wonder how friends/siblings afford the things they have when they have equal or lessor paying jobs to us. On more than one occasion I’ve had friends come to me in confidence to help them fix their budget/finances. So I suspect most of them are living with a lot of debt or received help otherwise…I say this too because most of them make fun of me for always having a deal (but really why pay $40 for a concert ticket when you can find them on groupon for $20??) so they aren’t avid bargain hunters.
We’ve been wondering how people have funded their weddings as well now that we’ve been planning our own. From what friends have told me either they or their parents refinanced, took a home equity line, or a straight up loan. To each his own, but neither of us want to live the with burden of debt from one day. I think large upscale weddings are very beautiful, but I’d only want one if David Tutera were paying for it, lol.
Post # 168
Hi I’m a newbee!! Not engegaged yet, but we will be in about a year or so. My Boyfriend or Best Friend and I set a budget for my E-Ring and wedding band at 13K and he has been saving for a bit. I designed mine and we are planning to shop in the diamond district in NYC which will get us a lot of bang for our buck! I also went with a pink tourmaline for a center stone so that I could up the size on side diamonds. 🙂
My Boyfriend or Best Friend makes a decent wage at 25K for our lifestyle. (we rent and walk everywhere because everything is close) He is in the military and has a full time civilian job. We save a lot and set a budget for the things we are aspiring to have. He really wants to get me something substantial (definitely bigger than most I’ve seen in my area) so we spread the savings over a few years. It works for us and we don’t break the bank.
We are both 20 and don’t really want to uprgrade in the future so he chose to save for a while! 🙂
(sorry, long winded LOL)
Post # 169
I honestly have not a clue how I have the ring I do…Fiance lives with this step brother, so he doesn’t pay rent, but he’s a student and works full time. He’s very smart and I know he did his research, so I guess it paid off!
Post # 170
- Wedding: October 2016 - Boston Museum of Science
My fiance had started a savings account when he got his first job. he had been working full-time for 3 years as a web developer making enough money to support us both and have extra left over and I also worked full time and paid the bills while finishing up school. My Ering alone, no wedding band included, was around $13k (I’m 22, he’s 25) that he paid out of pocket. Together we make over $150k/yr and his parents paid off his school loans completely.
I think it’s kind of rude to say that just because I’m young I shouldn’t have an expensive ring. It’s something we can afford and something I’ll have for the rest of my life. Plus, he loves it when people compliment the ring because they usually don’t tell me that I have a nice ring, they tell him that he did a good job. We work hard and it’s something we’re both proud of.
Our wedding is going to be about $45k paid for out of pocket by both of us. If you really want to do something you can always work to make it happen.
Post # 171
FutureMrsLipson: I’m choosing a not so expensive Ering (not a big jewelry wearer, so mine will be about 1.25ct center with side diamonds) but I’ve gotten some flack about our wedding budget. We bought a home about two years ago and plan to marry next summer. I work in healthcare making okay money and he’s worked his way up in his job for nearly 5 years and does pretty well. The wedding isn’t our number one priority but we want it to be nice and I have a large family so it won’t be particularly small. We budget well and try to keep our priorities straight. At 22 and 24, we are quite fortunate to not have to stress about how to pay for bills and such.
Post # 172
Cash…that’s how we pay for everything…I havea 2.5 carat princess cut solitaire…it was roughly 30k… we are 28. My fiance has started several businesses and lived off very little for a very long time…you ignore the Jones’ and build your future. When we got engaged, I “retired” to take care of the home, him, and actually started my own business. He has gotten to the point where his businesses run themselves and we live a nice life…We have no car payments,credit cards, or debt…and we are both college educated (that we individually paid for) with no silver spoons or hand outs…self made, hard working, and realistic…
Post # 173
Cash. My now husband paid with some of his savings, not all of it. It takes a lot to save for a house and he though it wasn’t smart to spend it all in a engagement ring. He never told me how much he paid for it, but I have seen the appraisal and it says that it is a 1.7CT round cut and it’s valued at around $25k.
Post # 174
I’m 23 and he’s 26, my ring is around 20k. Hes a crazy saver and has worked his ass off saving for our special ring
Post # 176
He was 25 when he bought it last year, proposed at 26 and paid 14k cash. He has been working since 13 and had a very well paying job for 5 years that put him though uni, paid off his car in cash and managed high savings. The ring has been appraised at 30k. We live within our means but enjoy life, wedding will be paid in full by us. Owning a house is not a priority right now but we do have savings for a down payment. We love renting and being able to go on vaca when we want, concerts, cottages, etc without the hassle of Maintainence, repairs and taking care of a house. We rent a brand new condo, live 2 mins from work and legit it feels like paradise.
Post # 177
FutureMrsLipson: I think it’s great that you two were fortunate enough to have the income you have, and it’s great that you have the drive you have… But not everyone has mommy and daddy pay off their loans, or is fortunate enough to have a 150k/year household income in their early twenties. I wish you wouldn’t make it sound like hard work is all you need when there are so many other factors which put you two where you are.
Post # 178
I FEEL young because I am still finishing off university… My SO makes around $90k a year, has $20k in savings and we have decided when we join finances, and when I am working again we will have NO DEBT (once my credit card that has gotten outta control while being a student has been paid off by me). We will only purchase cars, houses etc with the cash we have saved. I don’t want him to spend more than $5k on a e-ring, I wouldn’t feel comfortable wearing anything more expensive.
Note: I am fortunate that in Australia we don’t accrue interest on our student loans, so I don’t really consider it a real ‘debt’ as such. Also due to the fact having the eduction will X my old income at least threefold….
Post # 179
My ring was a hair under 20k. My SO is fortunate enough to have an excellent salary. He works in finance, we live in NYC.
Post # 180
Isn’t it amazing how many responsible savers there are? consdieting how much debt most North Americans have, this is truly amazing