Post # 1
ok, i always thought it silly when people live abouve their needs and buy luxury items they don’t need/ cannot afford.. anyway we both got sucked into the hype this time and convinced ourselves that buying a $2,350.00 wedding set for me was a good idea.. i justified it by saying it was my forever ring and i really liked it/ wanted platnum ect.. anyway we brought it and have hardly any savings, struggle with daily living expences living on one low wage as i am a student.. it is non returnable,, what do we do 🙁 i am usally incredable with managing money and spending it wisely
Post # 3
Did you guys go into debt for it? Or did you just use savings.
Post # 4
I guess you’re stuck with it…. Next time you go shopping, leave the credit cards, debit cards and money at home! LOL
Post # 5
Get it appraised and try to sell it? You may take a loss on it, but it’s better than carrying around debt or a loss of savings.
Post # 6
use savings but they could have been used for better things like an eventual house deposit,, maybe we will just have a cheap wedding to detract the cost?
our entire wedding budget including rings honeymoon wedding and associated partys (engagment, hens ect) is $5,000 max
Post # 7
Well, if it’s non-returnable (are you sure?) then I would factor it this way – in the whole scheme of things for the rest of your life, $2,350 is not all that much. You will be wearing your rings for (hopefully) many, many years to come. Say you’re married for 50 years – then the rings will only be costing you $47 per year. Rationalize, woman! It’s a done deal, it IS important, and you may as well enjoy it.
Post # 8
There really isn’t much you can do. If you try to resell it you wont get nearly what you paid for it, so you might as well keep it.
Post # 9
If you can get by without selling it, freeze the credit cards and pay it off as quickly as you can. You’re not going to recoup the bill selling it second-hand. Cut back everywhere else.
Post # 10
Well, if you can’t get the money back, it seems like you’re stuck with it.. unless you try to pawn the ring or something, but you’ll get less than you paid AND you’ll be out of a ring (so that seems like the least attractive option to me).
Can you get any sort of part-time job to supplement your income? Even a few hours a week sounds like it’ll be helpful. I’m not sure if Australia has a work-study program, but US colleges offer it through the financial aid office where you work on campus (in the library, administrative offices, etc) and get paid by the university, but it limits hours you can work and stuff since it’s designed for students.
Post # 11
Possibly try to resell it is the only thing that comes to mind. I would say cut down on other wedding-related expenses and keep it quite simple in order to recoup the costs.
Post # 12
@ejbri: That is not a lot of money in the big picture of life. Please enjoy it. One day you will look back and talk about this moment, and smile. If you get salon haircuts and takeout, or drive thru coffees regularly, you can save yourself up to $500 a month by cutting just this out. in four months, that’s your ring set.
My Fiance and I gave up takeout food to help save for our wedding. We LOVE to dine out, and were spending 300-400 a month doing this.
Post # 13
It is done now so dont worry about it. You used your savings and didnt go in to debt so that was a smart move. Can you delay the wedding so you can resave?
Post # 14
Time to put away the credit cards. Pay those off and cut back everywhere else. Put off the honeymoon until later– those rings are your new honeymoon!
Post # 15
Since you used Savings I say keep it, if you sell it it possible you won’t recoup the full amount because I bet most places are going to put it as “pre owned”. I think if you should find out how much you would get for it, but I think at this point you guys should stick with the rings.
Post # 16
Just save it and be thankful you have a beautiful ring. There’s not much else to do. A second job would help pay it off quickly!