Was your ring financed?

posted 3 years ago in Rings
  • poll: Was your engagement ring financed?
    Yes : (41 votes)
    20 %
    No : (167 votes)
    80 %
  • Post # 31
    Member
    480 posts
    Helper bee
    • Wedding: July 2017

    No, because my ring was not expensive.

    Post # 32
    Member
    391 posts
    Helper bee
    • Wedding: April 2017

    Nope! I did have to comprise and get a more economical one because we insist on cash flowing everything! When I got my ring we were paying off my last credit card and didn’t want any other payments added to our roster!

     

     

    Post # 33
    Member
    128 posts
    Blushing bee

    If you have to finance the ring then you probably shouldn’t be spending that much money IMO. Mine was paid full in cash. But so was our car and every other luxury item we splurge on. Love being debt free. 

    Post # 34
    Member
    1415 posts
    Bumble bee

    We didn’t get mine financed per se, but the website we ordered from had the option of paying in 1, 2, or 3 installments. No hit to your credit, no interest, just scheduled payments. We went with that because my fiance is a student and didn’t have enough in his account to pay for the ring in one go and still be able to afford food. He also didn’t want me to pay for it, so 3 month payment plan it was.

    Post # 35
    Member
    9 posts
    Newbee

    My FH did not finace mine – he paid up front for both my orignal one and the second one  to replace the broken one.

    We prefer to not have to make any more monthly payments on anything unless neccesary and he likes the thought of someting just being paid for and done.

    Post # 36
    Member
    391 posts
    Helper bee

    I voted no but it was like a payment plan – with 3 equal payments over 3 months.

    There was no interest with that and Fiance could have paid outright – but it made more sense to split it so we could get certain benefits from our credit card that way.

    Post # 37
    Member
    308 posts
    Helper bee
    • Wedding: April 2017

    We are using a payment plan.  And it’s not that we can’t afford it. We just want to control our cash flow.  We paid half for them to begin work on it and have 6 months to pay rest.  🙂 

    Post # 38
    Member
    41 posts
    Newbee
    • Wedding: May 2017

    Mine was not financed.. while I think it can be smart to finance especially since most places offer 0% interest for a set amount of time my fiancé did not agree.. he believed that if he couldn’t pay for my ring then he couldn’t support a family and we shouldn’t get married yet.. I didn’t really care how he paid for it… it was his choice since he was paying for it. 

    Post # 39
    Member
    1815 posts
    Buzzing bee
    • Wedding: June 2016

    I think you can often get a deal from jewelers if you don’t go through financing. We paid in cash at a local private jeweler, and he was able to knock off about 5% because we didn’t use a credit card or finance – so saved him the credit card fees.

    It’s the same when you buy a car  – if you have cash you can usually negotiate a bit better deal. We’ve bought a few cars with cash-in-hand and managed to save about 10% each time.

    Post # 40
    Member
    523 posts
    Busy bee

    I voted no, although technically speaking it was put on credit cards to earn the points. 

    The money was sitting there ready though (and it definitely wasn’t all of our savings). So it wasn’t a case of not being able to afford the ring or needing the money for an emergency, it was just a case of hey let’s get an extra 60 days of interest on it and earn some cash back points

    Post # 41
    Member
    28 posts
    Newbee

    no, I’m a big believer that an engagement ring should be a sign of love and commitment, not something to go into debt over. I would not have felt comfortable with it costing more then what he could comfortably pay up front. 

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