(Closed) Was Your Ring Financed?

posted 6 years ago in Rings
  • poll: Was Your Ring Financed?
    Yes : (104 votes)
    23 %
    No : (354 votes)
    77 %
  • Post # 32
    542 posts
    Busy bee
    • Wedding: May 2014

    Cash. We both have the same opinion on ‘if you can’t afford it then don’t buy it’, so with the exception of a mortgage and student loans we don’t have any debts. A lot of people got into quite a pickle putting everything on credit and finance and we don’t want to go that way! 0% interest loans are interesting though-in theory you’re making money from having the cash in the bank-if the banks paid any interest!! Its just another liability we don’t need though.

    Post # 33
    4134 posts
    Honey bee
    • Wedding: August 2013

    Fiance put it on a credit card to get the reward points but paid it off at the end of the month. 

    Post # 34
    2610 posts
    Sugar bee
    • Wedding: May 2014 - Madison, WI

    Yes, mine was/is financed. Fiance was transferring jobs from being a teacher to working at a non-profit which also required him to relocate (i.e. moving expenses). He has excellent credit, no other debt, and can afford to make the monthly payments. It was financed through the store we bought the ring at with no interest for one year. He is aiming to pay it off early/as soon as possible now that he’s settled into his new job & apartment. We tried to keep my ring in a conservative price range while still getting what I wanted. I opted for a smaller but higher quality stone in the setting I fell in love with from the first time I saw it.


    Post # 35
    3208 posts
    Sugar bee
    • Wedding: April 2015

    We used our Visa for points! Then we promptly paid it in full.

    Post # 36
    1578 posts
    Bumble bee
    • Wedding: June 2013 - Country Club

    Yes. He’s almost done paying it off. He has 1 year to pay it off since he bought it before interest starts piling up. He bought the ring in August.

    Post # 38
    2854 posts
    Sugar bee
    • Wedding: August 2015

    @Stephville:  gotcha! I got confused based on other Bee’s responses. I don’t know why Fiance was so weird about paying off monthly when he has the cash. I mean, he put more down for his car than we spent on the ring! lol (although not by much)

    Post # 39
    58 posts
    Worker bee

    I guess you could say my ring is being financed. My boyfriend and I are still in college so won’t be getting engaged the earliest till next May-June. But we picked out a diamond and put it on layaway through our local jeweler. It is no interest and basically like a savings going directly to the ring. I am so glad we did it. We can go in whenever and pay whatever amount. The jeweler is so flexible! And whenever it’s paid off we pick a setting and then my bf gets the ring until he decideds when to purpose! 

    Post # 40
    904 posts
    Busy bee
    • Wedding: September 2015

    Yes, through the store where we bought it, interest-free since it’ll be paid off within a year of purchase.  

    Post # 41
    1326 posts
    Bumble bee
    • Wedding: July 2013

    No, he paid cash for my ring. It was just under $1100, so not terribly expensive. I’m not one for super expensive jewelry.

    Post # 42
    2571 posts
    Sugar bee
    • Wedding: November 2013

    Mine was purchased with a credit card that the SO (ring is in the house – no proposal yet) pays in full every month. He also gets rewards points on the card so win/win. Compared to many Bees here, my budget was on the lower end, but I was happy to pick out a more modest albeit pretty ring now so that he would have more money later for our move and house. 🙂

    Post # 43
    394 posts
    Helper bee
    • Wedding: May 2013

    Darling Husband paid cash for both my rings.

    Post # 44
    1768 posts
    Buzzing bee
    • Wedding: August 1997

    @Stephville:  no dh saved and bought it outright. 

    Post # 45
    1707 posts
    Bumble bee
    • Wedding: July 2012

    No financing, cash only. Same will go for any luxury purcahse we make, including cars unless one of ours breaks down completely in the next two years. The only purchase we’ve agreed on that we’ll need a loan for is our first home, and maybe dental school if I decide to go that route later in life.

    Post # 46
    12246 posts
    Sugar Beekeeper
    • Wedding: May 2013

    Darling Husband paid ~5k cash, and financed the other half (0% interest) so he wasn’t losing ~10K in liquid assets all at once. He had the cash, but he prefers to keep at least XXXXX dollars in the bank at all times, in case of emergency.

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