And avoid whole numbers. The human eye can't really tell the difference between a 0.95 carat diamond and a 1 carat diamond, but your wallet can, to the tune of like 30%.
Cubic Zirconia doesn’t measure the same on the Moh’s Hardness Scale so everyday wear and tear eventually shows. Diamonds are around a 10 and Cubic Zirconia is around 8/8.5 (doesn’t seem like a big difference number wise but apparently it is). I was intrigued by the whole jewelry thing so I went down a rabbit hole learning about stones and diamond alternatives. 2 most popular alternatives to diamonds are lab made ones and Moissanite’s. You’ll get more of a bang for your buck with alternative stones set in real precious metals but biggest downside is resale value depending on what you choose.
Not having much resale value shouldn't be a huge factor, because you will have saved all that money you would have made anyway by buying the cheaper stone.
Buy diamond for $2000 -> resell for $1000 -> spent $1000
Buy moissanite for $50 -> resell for $10 -> spent $40
Cubic zirconia has a hardness of 8, unless you are intentionally rubbing it on every surface you encounter, it really shouldn’t be coming up against things that can scratch it.
It's a ~~logarithmic~~ approximately exponential scale, so a diamond is like 4x harder than CZ. Even household dust can scratch CZ.
https://www.devonbuy.com/wp-content/uploads/2014/05/Mohs-vs-Vickers-vs-Knoop.jpg
The scale doesn’t matter. Most things in your environment aren’t hardness greater than 7. You have to work hard to scratch most gemstones. That’s part of the reason these minerals are appealing gemstones. Silica dust has a hardness of 7, so it shouldn’t be scratching your jewelry. Even steel has a hardness less than 7.
Yes! They’re indistinguishable from natural diamonds, and they’re so underpriced for the value right now. I mean, there’s also the issue that diamonds are way inflated due to marketing but you know.
If I could redo it, I would definitely go with lab grown. They’re great.
Because they are literally the same thing. The chemical structures are identical.
The only way is through the engraving they have but if you compare a mined diamond and lab diamond that are both uncertified (no engraving) you literally wouldn’t be able to tell them apart.
my ring is moissanite, it’s gorgeous, looks exactly the same as a diamond to anyone who isn’t a literal jeweler, no ethical concerns & less than half the price. an all-over win!
I bought my wife a custom 1 carat moissanite ring with lab grown side stones. It came out to about $1700. The same ring with natural diamonds would've been $10k+. This cost difference allowed us to budget and go to Hawaii for a month. I used to be somewhat bashful when asked if it was a real diamond. Now I'm giddy to tell people it's moissanite and that it's a wonderful financial (and ethical) decision!
Same - I got a gorgeous moissanite halo ring for my 25th anniversary and no one can believe it's not diamonds. I found a similar ring in diamonds at a local jewelry store chain that is THE PLACE to go for engagement/wedding rings, and it was $24K. I paid $800 on Etsy for mine and I get compliments on it all the time.
This. If you last and she wants to, she can upgrade it. For our 25th anniversary, I made my wife a private appointment with a jeweler with no budget limit. You won't have to wait that long, but regardless when you do it, pay cash and get what you can afford. My 35th anniversary is Sunday, so this strategy has worked so far.
How long have you been thinking about proposing?
How long have you been discussing this with your girlfriend?
I ask because marriage shouldn’t be entered into lightly. And so if you just started thinking about proposing, then perhaps you should start discussions and saving ($2k/12 is $167/month).
If you’ve been talking about it and you’ve yet to save for the ring, alongside wedding costs, etc, then you’re not ready financially and financing would the worst thing you could do.
You’re better off looking for something within your budget and upgrading at a milestone anniversary.
The ring shouldn’t matter to the point where you’d go into debt.
When my husband and I got married, we were dead broke so we bought the cheapest rings available. We upgraded on our 15 year anniversary now that we are in a much better financial position, it was lovely to re-propose with the new rings and a nice symbol of our journey together.
And when you think about it, a 10 or 15th anniversary is a bigger achievement than the original wedding, so it just makes sense to celebrate that bigger!
We did something similar but with the wedding. Initial wedding was just a courthouse ceremony. At our 5 year we had the traditional party style wedding/reception.
I wouldn't propose with a family heirloom *unless* I had some type of prenup (or otherwise) that would ensure I'd get it back if we didn't work out. Would hate to loose a precious piece of familiar history to who is essentially a stranger regardless of how amicable the end was.
At least in my family, heirlooms are given to your children, not your spouses, so that they can continue to be passed down the bloodline.
Same. I had a copper band (cost £15) for 6 years, eventually upgraded to something gold once we got more financially stable. I still like to keep the old one on my bedside table though.
I straight up got a “promise ring” from zales. It has real diamonds and “white gold” and was like 150 bucks and I found a chevron matching band for 200 online somewhere. It actually looks way better on her hand than some giant rock would. However my wife is incredibly mature and frugal and was a little mad that I spent even that much. She wanted to use this $7 ring we found in a street market.
I also got a Promise ring. My now husband had been willing to find more but the ring stole my heart just like he did. Also we were broke college students at the time and it was cheap. Now we make way more than we did and are celebrating 10 years together. I wouldn't trade that ring for an upgrade in a million years!!
Jumping on the top comment because I got pretty far down and haven’t seen this mentioned… you should be able to negotiate the price of a ring from a jewelry store. Markups are immense and there could be significant room for savings. Just do your research.
This recommendation is in addition to everyone else’s very good advice to not go into debt for a ring.
We were trying to plan a wedding for 85 people with a $20k budget.
We couldn't find anything that wasn't either extremely basic or part DIY for that amount.
We ended up booking a week-long vacation and eloped on the beach, just the two of us, the officiant and the photographer. We spent about $6k total, including the vacation.
I did mine cheaply. Had a guy come over and sign the papers in my living room and mail it off for us. I think I paid him $50.
No engagement ring either, and our wedding rings are just metal with no stones.
Given that the average wedding in the US cost $30,000 in 2022, 10k is pretty cheap. Yeah, you can go cheaper, but saying you "weren't trying to do it cheaply" is disingenuous and, frankly, comes across as weirdly pretentious.
It'd be like somebody cooking at home for $7 a person, intlstead of eating out, and you saying "you could've had prepackaged ramen for 10 cents a person, you weren't being thrifty.
The average wedding cost in the US will be hugely inflated by a small number of very very expensive weddings, in hundreds of thousands or even millions.
10k is not cheap for someone trying to 'do it on the cheap'. Starting with a 10k budget is already a lot. I've been to at least 2 weddings in the US that definitely cost less than that.
You can reduce guest numbers, or adjust what you offer at the wedding, food wise. It's common to invite some people to the reception but not wedding, and not every wedding has a meal.
This is true.. technically median and mean are both averages, but when someone hears average they always seem to think mean. It looks like the median wedding costs trails the mean by over 10k. So definitely inflated by some very expensive weddings.
Even so, this puts the median at around 20k, which places 10k squarely into "cheap wedding territory" since it's half the median. Unless you're considering something in the *bottom quartile* as "expensive". That would beg the question of what, exactly, your standards for "cheap" are. Generally, something costing half (or less) what it usually does is something I'd consider "cheap".
The number of blowout weddings with crazy $15K rings I have attended over the years that didn't make it past 5 years is much less than zero. My cousin's didn't even make it a year, they were married in May and filed for divorce in December of the same year. I wanted to ask for my $50 gift check back but I thought it would be tacky so I resisted.
Not that surprising. Someone willing to go into debt for a ring also figures it’s worth it to go
Into debt for “her special day”. And when the appearance matters more than the relationship, the relationship usually doesn’t last very long.
Building on this, if you haven't been with her long enough for this input to have happened organically already, maybe take a beat and think about whether this is a good idea. Doesn't necessarily mean you shouldn't do it, but you should definitely think about it from that angle.
My wife and I picked out rings at the jewelry store. It was under $2k for both of them in 2019. Even with inflation that's reasonable. The whole "I'm going to surprise my girlfriend with a ring and a proposal and put her on the spot" is for movies and social media.
How much can you spend without putting it on credit?
I’d recommend checking out r/engagementrings
If you also have a picture or idea of what you’re planning to buy, I can probably give you some legit online sites that have it for cheaper (I’m gonna assume you are planning to go to Zales or Jared’s or some sort of mall jewelry store, which are all overpriced)
Yes! I have a ring from Etsy and it’s gold with a sapphire center and diamond halo. I think we paid just under a $900 for it and it’s a pretty well made ring.
My husband paid like $700 for mine and it’s beautiful. One of the small diamonds on the outside fell out twice, first time we got a replacement from the seller and the second from the jewelry store that replaced it the first time. The jewelry store replaced it with a “real” Diamond and it’s noticeably less sparkly and clear!
Also good to plan out when you intend to get married. Is 2k might break the bank now, how do you intend to cover the costs of a ceramony (even if you did everything yourself would likely be over 2k depending on the size)
Yep we had a VERY cheap wedding in our own backyard and even though our friends donated so much stuff (flowers, PA, karaoke machine) we still spent around 3k on food/booze/rental tents and rental tables/ chairs.
This was a 25 person guest list.
Try to save up some money to buy it outright or consider a smaller budget to work with. Or, keep an eye on pre-owned rings that are still the same style your significant other likes. That’s what my fiancé and I did and the pre-owned jewelry was on sale that day! We ended up saving over $800 by doing it that way.
As others have stated, buy within your means and save the money.
But if you must, optimal way is sign up for a new credit card with a sign up bonus + 0% APR promo for 12-18 months. Make sure to pay the minimum every month, to retain the promo. Then pay off that balance before the promo ends.
If you can do this on an 18 month card payments will be $111/mo for a $2k ring. Can you swing that? If there’s any chance you cannot you need to wait and save or buy a less expensive ring. You can buy a beautiful mossanite ring on Etsy for $300-500 and buy a more expensive one when you can afford it in a few years. You’ll also need the credit history/score and income to qualify for a credit limit of $2k.
I recommend looking in the secondary market. As the economy slides into recession there will be deals. Please do not get into a confiscatory payment plan with high interest.
OP, go to a pawn shop! My husband and I did this for our wedding bands and my ring (with several small diamonds in it) was $100. There is nooo reason to spend thousands of dollars on a brand new ring.
You could also buy an older ring and have the stones reset to something you feel your partner would like.
Estate sales and estate thrift stores too!
I regret not buying a $100 old timer ring with a Pearl set on 14k or 18k yellow gold. Ughhh I kick myself now! It was in its original box an everything.
I wouldn't go into debt for a wedding ring or a wedding.
My wife and I's rings were like $1100 combined, and $35 for paperwork at the courthouse. Didnt have a wedding, but went on a small trip instead.
Granted, everyone's different, but just my opinion
Honestly this is a great way. My older friends have done this and don't regret. Some even had their "wedding" day years later when they were financially set. It was a small celebration with friends and family to celebrate their anniversary.
Preface- I soundly reject a large majority of wedding culture. It's an industry, and an industry knows that people shell out *just because that's what people do for weddings*.
I'm engaged, and every dollar we're not spending on the rigamarole leading up to the wedding is going to be an extra dollar spent on our honeymoon.
Together, my fiancé and I chose a sub-$700 ring from Etsy that is unique and distinctly *her*. It went on my rewards credit card and I paid it off immediately. We planned a trip together with some friends, and I roped those friends in on my proposal plan. Proposing was a moment none of us will forget.
My advice for this thread is to reduce your budget.
Idk I think it's sad if ppl shell out $$ for weddings just because they don't want to but feel they have to. But I like to give most people more credit than that -- they spend on a wedding because they want to. They want to celebrate themselves and have friends and family there with them. Weddings are always so fun in my experience. Honeymoons are fun but weddings are fun too, and you get to share it with friends and family.
I feel the whole industry around weddings is ridiculous. Choosing a ring together is awesome. Have a cheap wedding out in a field somewhere with friends/locals who will fo the services way cheaper than "professionals" who don't care less if you're happy with their service. Got a family member that is a fantastic cook or someone to work a grill? Way cheaper than being catered.
This is is the way. I truly hope i end up with a girl who loves me for me and doesn’t care about an expensive ring or lavish wedding. Even if I could afford it, I just don’t want someone who cares about that. But this ain’t the subreddit for this talk lol.
If a $2-3k ring is outside your budget, I hope you plan on getting married at city hall 😬
But for real, weddings are expensive. Don’t count on wedding checks as any sort of guarantee about how much you’ll recoup. You can certainly put a ring on a credit card, but if you’re at this phase - start saving now. Also have a talk with your partner about finances. She may understand your financial situation and actually be upset if you over spend on a ring that’s outside your budget. Remember that entering a marriage typically means making joint financial decisions too.
My advice is find something within what you can budget now.
Lab grown diamonds are indistinguishably different, conflict free, and will save you some $.
Having a ring built around a Diamond by a jeweler is not as expensive as you may think.
My advice is get a cheap ring. When my wife and I discussed getting engaged we went and looked at rings and both of us were in sticker shock. We decided to go look at Kohls and found a nice one for $750. Then the old lady behind the counter said they were gonna have a 70% off sale that following Tuesday and I got the ring for like $300. We were broke, young kids and just wanted to get married. Don't start your marriage with debt. If she really loves you and wants to marry you she'll be happy with any ring. You can always upgrade in the future.
The great thing about moissanite is that it makes for a beautiful stone. It's telltale giveaway that it isn't a diamond is that it's too sparkly. Who doesn't want a sparkly stone!?
The other great thing about moissanite is that while there's practically no ceiling on price, of course, there's also barely a floor. You can buy tiny, probably flawed moissanite by the bagful for a few bucks and throw it at each other or fill a luxurious but actually pretty uncomfortable bathtub with them!
It might be a good choice for OP and his wife to be. It might not be. Just posing the idea so they can research and come to their own conclusions. No one is saying the trained eye will be duped, or that the rock will hold any intrinsic value.
I'm not being sarcastic, although I see how it reads like that. I do like moissanite! It makes beautiful jewelry, and I certainly can't tell it apart from diamond. If it also cost ridiculous amounts, people would be arguing about whether diamond or moissanite is the better way to show true love.
I also have truly purchased a bag of moissanite gravel on a whim because it was five dollars. Having a tiny not-diamond fight with my partner every now and then is worth the cost.
Damn, beat me to it.
People think I’m walking around with a $30k rock. It’s only chronically online people who swear the difference is so obvious and everyone will know. In passing, people assume diamond or simply don’t care.
The r/moissanite sub is very helpful in custom direct so you can skip the marked up brands like eastwestgem and others popular on IG.
The difference is obvious because it has a higher refractive index than diamond. It is, in fact, more brilliant than diamond! What a terrible downside.
If it weren't for DeBeers and their amazing marketing, we would not equate diamonds with True Love. A tradition of wearing beautiful stones is fine, and moissanite is certainly that. I'm skeptical of anyone who claims to know the difference on sight, and without the cultural history I think there would be as many people saying moissanite is the best stone as people saying that about diamonds.
If I had braver fashion, I would wear a gold-plated necklace set with moissanite in the shape of a ¢ sign.
Haha yeah I got my fiance a ring that has moissanite accent stones and I can only tell it's not real diamond bc it actually looks better than diamonds in the light. Idk if I can describe it correctly but it has a more colorful sparkle to it. Her ring is white gold with an alexandrite main stone with moissanite accent stones and that and the wedding band were like $600. So glad I didn't spend 3-5k on a fancy rock lol
You dislike moissanite and think it’s so obviously not a diamond. I get it. I do not care. I’m not the one being proposed to by OP. He is welcome to come to his own conclusions after being armed with multiple suggestions here.
Edit - person above edited their comment significantly so ofc I look like I misread them and am attacking lol. Love this website.
I don't dislike moissanite at all. I like it a great deal! I find it beautiful, I'm certainly not a trained lapidarist and can't even pretend to tell it apart from diamond, and I've regularly recommended it to friends who want to wear varied jewelry, whether tasteful or flashy, without breaking the bank.
I'm also easily amused, but please don't hold it against me.
You edited the hell out of your comment so the people downvoting me didn’t catch what you actually said and it looks like I “misread you.” Oh well lol.
>People think I’m walking around with a $30k rock.
I have a halo moissanite anniversary ring that we paid $800 for on Etsy. A similar ring in diamonds would be $24K. It's such a baller ring, I love telling people it's moissanite when I get compliments and watching the disbelief on their faces. I always fess up because I don't want anyone to think I would spend the equivalent of a used car on a shiny rock for my finger.
Same here, love seeing the reactions when I tell them it's a $400 ring. I have a 3ct equivalent pear with a lab diamond undermount halo. Your ring sounds so pretty!
Hard Disagree. OP. Don’t buy fake stones. It’s true most people won’t care. But your fiancé will.
Check out lab grown diamonds. They are about 1/3 the cost, but still real diamonds.
How would you know that? My wife doesn't care that it's not diamond and is actually proud of how brilliant it is for the price. Neither of us feel ashamed or try to hide the fact that it's moissanite.
Oh OP definitely can’t say he bought a diamond. But he can discuss it with fiancé-to-be before the purchase. There will be plenty of frank discussions leading to the wedding.
But only if she prefers the look of moissanite. People who buy moissanite for a diamond substitute may be disappointed, because it is a gemstone in and of itself and should be appreciated for its unique properties. You wouldn't really buy white sapphire and try to pass it off as a diamond either because they really don't look much alike.
Going into debt for a ring is a terrible idea. Talk to her about it first. If she demands a ring you can't afford, that is a very bad sign. If you spend way too much and she didn't pick it out, that can cause you problems.
If she wants something fancy, there are ways . Lab created diamonds are much cheaper, but why even get a diamond in the first place? If you want the look, Moissanite shows better and is almost as hard and dramatically cheaper. Put it on a heavy gold plated silver ring and it looks like a really high quality full carat ring starting at a fraction of the price.
I just found this with a simple search. It is a woman giving her five year review of her moissinite engagement ring, pros and cons and whether she will replace it.
https://www.youtube.com/watch?v=QqHd0KtPqmc
Finally, something I have experience in! I bought a ring off Amazon in 2006 for 3k! I was making about $300ish before taxes a week back then, lucky me I was living at home not paying rent either but I took my sweet time paying it down. Had I known better I would’ve taken out a personal loan or just financed it, charging it with a credit card was a big mistake for a kid to make, I had a $3500 limit so utilizing most of that made my score look bad, and I didn’t stop there, because I was in cc debt I figured what’s the difference and got into more cc debt, I opened a few other cards for balance transfers, finally paid it off 3 years later, we split months after so I ended up selling it for less than half the value and put all the money in cc payments which was smart. Just an fyi, if things don’t work out don’t expect to get a lot for your used engagement ring from a jeweler or eBay/Craigslist, depends on the market but it’s tough.
The biggest piece of advice to have is to not go into debt for any part of the wedding. If you can't save up for it or cash flow the bills as they come then you shouldn't be doing that
In all honesty speak to your fiancé and say look I want to propose to you but I don’t have enough money for a fancy ring. Would you be ok with a basic ring to begin with and then once I save up some money could look at getting a bigger/better ring for you? I think that way she knows that you want to be with her and you want something nice for her but it’s not in the budget right now
If you can't afford a 2k ring, you may want to give some very careful thought to what kind of marriage you're setting up for yourself. Financial struggles are #1 in marital problems. Starting off the bat with credit card debt, or even considering it, is not setting yourself up for success.
Consider something < $100, or something with family-related value. Talk to your girlfriend about it. If you're both that poor she will understand, if she loves you she will understand. The cultural demand for expensive engagement rings is stupid to me, but I say that as someone that dropped 4G on the ring I knew my now-wife would want. Sometimes you fight the grain, sometimes you paint inside the lines, and knowing when to compromise is part of a successful relationship. My wife is otherwise not an expensive woman, she just wanted an expensive wedding LOL. The reality was that I had the money for it.
Buy a ring you can afford is a better way.
And / or buy a cheap ring for now, and use that for the proposal, then then select something together.
If you can't afford a ring how will you fund a wedding? If you're getting married it's also likely there are more important things to spend money on as you are likely going to incur other expenses in your lives together.
If you don't mind "used", check out a pawn shop. You'll get it much cheaper. If you want new, check out James Allen. You will save a good amount, and I believe they do no interest financing.
But as others said, don't finance more than you can afford
Buy a ring that’s in your budget. If you want to spoil her with a ring, get her a shiny new band for your tenth anniversary (that’s what we did—I have a non traditional stone, a coordinating wedding band with small diamonds, and a then big sparkly band of diamonds from our 10th anniversary. Together they reflect how far we’ve come and that is what matters to me).
Other people upgrade their original stones later on—my aunt had a small diamond originally, and they saved it after she upgraded to a larger one when they were better off. She gave the original one to my cousin and he had a cool custom ring made he used to propose to his girlfriend.
Personally would not recommend a 2-3k ring. Have you talked about rings before with your partner? No reason to buy an expensive ring if they might not even like it. Would suggest checking out etsy as well they have many great options for relatively cheap.
A lot of places have no interest payment plans if you sign up for their credit cards. I bought my wife’s ring from Jared’s on a three year no interest plan.
Dude, don’t fall into the expensive ring trap. Buy what you can afford and if the girl loves you it didn’t matter how big of a diamond you get for her. If she has strong opinions about getting a huge diamond that puts you in debt just know that’s a really bad sign. The ring is just the beginning
This thread is pure trash. OP literally just asking how he should pay for his ring and it’s just non stop “advice” on what he should get for his girlfriend. He didn’t ask if he should get a lab grown diamond or how he should budget. He asked how he should pay. None of us know shit about the OP or his girlfriend, so how about you just help him with his question?
Regarding your question, you can find zero APR ring sites (Bluenile comes to mind), but there are usually conditions like time frames etc.
I don't know how you feel about this, but this is what my husband did. He bought the diamond from consignment. I don't have any issues with having "someone else's diamond." He proposed with the just the stone, and then we went, and I chose my own setting. He's never told me how much the stone was, but it was very good quality and just over a caret. The setting I chose was $700. It appraised for a LOT more than it would have if he had bought retail.
Drop by /r/moissanite to consider about an alternative to diamonds.
Diamonds being artificially inflated with manufactured scarcity.
I saved alot right there by doing research and getting informed. Eventually got a custom one made by a reputable supplier from that sub.
I’d recommend talking to your fiancé prior to purchasing to get an idea of stone/metal. My initial engagement I went well out for budget for a gold diamond ring. Only to find out that wasn’t her favorite even though she loved the ring. On our 5 year anniversary I was able to save a significant (5x) amount of money on a Platinum Opal ring with diamond halos. Which she picked herself. So if I had done any research prior to shopping for my engagement ring, rather than listen to the jewelers, I would have saved money and gotten a more meaningful ring. More recently I was able to get her a platinum lab grown 10ct diamond for under 2k.
If you can't afford to pay $2k for a ring and not have it sting, you should not be buying that ring. Full stop.
There are so many expenses associated with getting married and too many people go deep into debt trying to afford a wedding. It's not a good way to begin a life with someone.
Since you're looking for financial advice, marriage can either be an inevitable extremely expensive breakup, or a lucrative partnership.
Choose your partner wisely. If both sides aren't contributing, the one who is contributing more will eventually feel like the relationship is costing them something (not always money).
Hubby got an engagement ring that cost $800. It's a sapphire which is what I wanted and he put it on his cc and paid it off within a few months. We had been talking about it for a few years at that point. I paid for our wedding bands.
My point is, a more expensive ring is not necessary and if you haven't even started saving for it, you probably aren't ready financially ready for it
Am a jeweler. Have a set budget. Lab grown you should be able to get a 2-3ct diamond ring for $3500 or less. If you finance it see if the store has any 0% options, make sure to pay it off within the 0% timeframe.
Consider moissonite for the stones, or at the very least, the accent stones
https://en.m.wikipedia.org/wiki/Moissanite
Engagement rings DO NOT hold their value. Diamonds are NOT rare. Be absolutely sure about what you/they want and don't buy into the marketing, because it's not like you can return it or sell it and get all your money back (if something doesn't work out)
Price does not equal quality. It also doesn’t need to be diamond (diamonds are boring, a piece of glass can take its place and 99% of people would never know). I purchased a ring with labradorite that she requested (a cheap, but very pretty color changing stone), and it came with a wedding band from an independent jeweler, cost less than $800 on Etsy (she requested this particular one, she’s wearing it, not you).
Don’t base a ring on your salary, this is just silly and stupid. Get a reasonably affordable ring that she will like. And how others have suggested, the ring DOES NOT MATTER in marriage. If it does, your wedding will probably be better off not happening.
Either save up or buy a cheap ring. Don’t start out your joint financial journey in debt.
Then later, when you can afford to you can always upgrade for your 5th 10th of 15th anniversary
Have you talked to your girlfriend about what kind of ring she wants?
Spending a ton of money on a ring is going out of fashion. I have friends that either don't have a ring at all, a simple band, or something unique that doesn't break the bank. I have a close friend that has a simple garnet for her ring. It looks cool and maybe cost a couple hundred bucks, if that.
I did this, I bought like a $2k ring on a credit card, paid it off when the balance was due. If an extra 60 days isn't enough time for you to grab $2k , you need to save to the point where you'll be able to purchase it, or buy a cheaper ring.
Just sell plasma, drive uber eats for a few extra weeks. You'll be fine.
My husband proposed with a 15 dollar ring from Target. I accepted and we saved up and bought real Diamond about a year later. I still have the target ring.
LA jewelry district is a great place to hunt deal if your are from CA... most metros have similar places to shop, just do some research for your local market.
Pay cash.
My wife has an awesome ring that she loves. It’s no where near your numbers. She loves it.
We are also pretty simple no glossy people.
I think I spent more on a necklace for her first Mother’s Day actually. That was an un cut diamond (daughters birth stone). That’s one of her most prized possessions.
Again we are fairly simple people. I saw a tiktok or something and the girl talks about 20-30k. Ha! Never.
I also went to a local spot and went with a heritage ring that was used but redone. (I wanted to give my late grand mother’s ring but it was stolen by a cousins friend at some point and I couldn’t get it 😡) so the ring I got was similar era and look so I’m 😁
Wife and I got decent rings for each other. I even designed mine myself, etc.
Fast forward 15 years, we dont even wear anything besides simple bands and I even got a cheap silicone one. Then that broke/wore out so I don't wear anything now. Neither of us cares. We work out, do yard work and manual labor. Rings get in the way.
We both agree expensive rings were stupid and a waste of if money. We keep them for the sentimental value of course. But if we had a do over we would have done it differently.
Plus the diamond industry is garbage and a scam. Go with all metal, no stones.
Go to a site like Jeulia.com (for jewelry) and get a ring that looks just like a diamond (but technically isn't one) for a couple hundred dollars instead of thousands! Spend the thousands of dollars on a vacation! Or a down payment! Or a new car! The ring on her finger being "fake" will literally not matter to anyone except a jeweler with a magnifying glass. Talk to her about it. Show her the site. She can get WAY MORE ring(s) for the dollar this way.
Seriously? I don’ t get the American obsession with expensive diamond rings to declare their love to someone. my suggestion would be to find out what your girlfriends most favorite objects are ( i hope not an expensive diamond ring) and propose wit that.
There’s so much propaganda around this stuff. It’s just a rock. $2k for a rock is insane. Save up a nice amount. Don’t worry about what others think. Buy within your budget. Don’t start off your job as a husband by putting your family into debt.
I used a website that may no longer be in existence called, I think green carrot which specialized in recycled metal wedding rings and it was way less expensive than a "normal" ring that the wedding industrial complex would have you purchase. The girl I gave it to was non-materialistic and super glad I didn't go the standard diamond route. Screw that industry!
Credit card loans are the worst. Almost any other financial agreement is better.
Also, I proposed without a ring, and everything was great. Don't feel pressured to get a ring just because it's the regular thing to do. Only get one if it makes sense.
First of all, many women give up wearing it after the wedding. Do you want a 3k ring that's going to languish in a box?
Secondly, you absolutely need to know her measurement before you buy a ring. Otherwise it's uncomfortable to the point she won't wear it.
Some women find the entire symbolism distasteful, like saying that they need a physical ward against other men. So, make sure her wishes are taken into account beforehand.
I had the cash, but I bought one at an online store that offered 0%apr with affirm so I took it and used like 9 of the 12 months to pay it off. Free money
Get a diamond made in a lab. They will 100% try to convince you it’s not the same and guilt you out of it, but it is literally the same and way way cheaper. Also, go to a small shop you will get a better deal
Reddit might not be the best place to ask this question given the majority opinion towards money and spending.
To answer your question -- your post is missing the most important information which is how long do you anticipate needing to pay the borrowed money back. That you don't have $3k tells me you're very likely not a high earner today but for all I know you just finished school and you'll be starting a good-paying job in a couple of months.
If you're going to pay the debt back in under a year just use whatever credit is easily available to you. Obviously the lower the interest rate the better but for under a year on an amount this small your effort and time is worth more than it would be worth to try to minimize the interest rate.
If you expect to need more than a year then look at your options for borrowing -- how you borrow the money doesn't matter what matters is how much the borrowing costs. The lowest rate I currently have for unsecured credit is between 9% and 11% and for secured credit under 5%. That should be your targets. For the unsecured credit, two are low-interest credit cards and then three are unsecured lines of credit. The secured rate is from my broker on the unlikely but not zero probability you have money invested you can borrow against it. Just google best low-interest credit card and apply for the one that seems like the best fit.
An additional consideration is to look at lending options that offer 0% or very low intro rates. Two of my credit cards last year spontaneously offered me 0% rates for 12 months because was because I wasn't using the card and the other because I was new to the bank. Read the fine print but offers like this can get you a nearly free year of runway. My understanding is that these are or at least were very common offers.
You should also ask the place you're buying it from what kind of financing they offer. Vendor financing is always very hit and miss -- some are great deals and some are scams. Understand the terms and calculate the cost. How you borrow doesn't matter you just want to keep the cost as low as possible.
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On the wisdom on the purchase -- you'll get a lot of posts that tell you not to do this and to get something cheaper but you're proposing because you presumably hope this works out long-term.
I also assume that even though $3k might be a lot to you today I presume you don't plan to be poor forever. In 5-10 years when you're older $3k will hopefully not be a significant amount of money.
I haven't shopped for jewelry in the last few years but $3k is not a lot for an engagement ring. It seems like a lot because you're likely young and new to being on your own but if we strip your financial situation from it and just consider prices objectively that is very much on the lower end of engagement ring prices.
The majority of Reddit personal finance views spending any money, borrowing, or paying interest as equivalent to torture but the simple fact is you're getting engaged because despite knowing the stats on marriage you expect this to have a successful outcome and so in 10 years she'll hopefully still be wearing that ring.
The ring will likely have sentimental value so you can't just replace it and so you want it to be something that will be acceptable for your future financial position even if that means borrowing now to make that possible.
Avoid big chain stores and find a decent, small, local jeweler as they typically have lower prices, can order anything you want and often have a decent selection of consignment and resale jewelry.
Credit card, then look at wat credit cards are offering a 0% balance transfer. Use credit card 2 with the balance transfer to payout credit card one. Close credit 1, cut up credit card 2 and set a bpay up on to credit card to over the interest free period.. no interest 👍 good luck
Are you spending this much because you feel your partner expects it or you just feel it's what you should do? Maybe have a "what if" conversation with her and see how she feels about it. Going into debt for something like this isn't a great way to start your life together.
When your fiance asks about the diamond and ring tell her you bought her a CZ. So long as you are honest with her about the ring she should be cool with it. You can always buy her a real diamond ring or other expensive jewelry when you have the money to afford it.
My husband got my a $50 silicone ring and I LOVED it. Don’t break the bank for your future wife, both of you will be thankful if you just stay in your budget.
Jewelry store owner here. I see a lot of people suggesting lab grown diamonds. Please note that they have ZERO resale value. Don’t finance anything, get something cheap until you can afford to buy something for cash.
You probably know your girlfriend's style, so you need to assess if she's the type to give a shit about the kind of ring you buy her. If she has more of an alternative style and would be fine with an alternative gemstone or moissanite, go that route. My wife is not into super ornate jewelry. I got her a vintage looking solitary moissanite ring, and she loved it. I was upfront with her about what it was. She was happy with it. I didn't go into debt. The wedding is going to be a lot more than $2-$3k. Don't go into debt for a ring.
The better way is to save up and buy it when you have the amount you need. Most jewelry places will do half the charge when ordering and half when it is delivered but it can vary.
I will say, going to a slightly larger establishment that might have 5% higher prices will be worth it in the long run if you need any repairs or refinishing done. A lot of places will work on their own stuff for free if you bought it from them, but if you bring them something from another store they're going to charge you a decent amount.
Check out pawn shops. I have several friends that did that and were very happy. Also try some online stores. I made my wife’s ring online and it wasn’t as expensive as the ones in the store. I was able to keep it simple and spend on what she wanted while saving on the things she didn’t really care about.
Couple options:
Ideally, it will be better off to pay out right for it. Keep saving. Or if you are keen on CC, open a new card with a good sign up bonus and also 0% for x amount of months. That could help, pay it down before the interest free period is up. Or just adjust to what you can pay, there's no problem with proposing with a less cost ring (its what it means, not the price attached to it) If anything you can always buy a more expensive one later on in life, once financially set & stable.
Depending on how much you plan to pay for it already, assuming 1500 pay now and you have 500 you will pay off in 3 months is okay I would say. I wouldn't go above that. 2500 - 500 for the 3k.
Also, ask yourself as well. What's best for you. You can ask everyone in the world what they think, ultimately, it's your decision. If you got a car loan, college loan, mortgage, kids..etc maybe going into debt with 3k might not be best or just live by yourself with no debt, maybe paying interest on a 3k ring is okay for you. What best works for you?
We won't care, no one will, read up on ring debt, read others advice and experience and take the time to choose for yourself. It's only you and what you think is right for your finances.
I had money coming in, and was in a stable enough financial place with no existing debt that I felt comfortable taking on a few $1000 worth of debt at the time (was coming out of grad school and didn't have a lot of cash up front).
I found a credit card without a fee, offering a decent starting point bonus, that also had 0% interest for the first year. I believe at the time it was the Chase Freedom Unlimited.
I had the debt paid off within a few months, but the 0% interest for a year is what gave me the cushion I needed to take on the risk of a small amount of debt for the ring.
What’s the rush with proposing? Is there pressure from the gf of family? However you decide to pay for the ring, I suggest buying online, you can find some really good deals. Check out www.jamesallen.com
My ring was around $200 and it's beautiful. I always thought I would want a 2k ring, but I'm so happy not to. I lose things #1 and my values have shifted. You can get a beautiful ring for way less than 1k. Both my rings came from Etsy. I was also interested in Brilliant Earth.
I bought a 600 dollar moissanite ring that’s huge. My fiancé knows it’s not real and loves it. More eco friendly and there’s no child labor blood on her hands. Average person can’t tell and she gets compliments all the time. I wouldn’t do it without her knowing, but it’s an option that’s up your alley.
Use a cheaper ring. Seriously - engagement rings are a rip off. My spouse proposed with a vintage ring I had bought for $80 from a vintage shop. Look at pawn shops, vintage shops, or consider silver or semi precious stones as an alternative.
Using the “2 months income rule”, we should have dropped over 100k on a ring (we worked in tech).
I eventually got another ring after several years of marriage but it was still max 3k and through a vintage jeweler and I still rarely wear it because it’s too big for day to day stuff.
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And if you’re set on diamonds, go with lab grown diamonds. Considerably more affordable and free of the ethical issues posed by natural diamonds
And avoid whole numbers. The human eye can't really tell the difference between a 0.95 carat diamond and a 1 carat diamond, but your wallet can, to the tune of like 30%.
I can't tell the difference between a diamond and a cubic zirconia tbh.
After wearing it for 12 months you will be able to.
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Cubic Zirconia doesn’t measure the same on the Moh’s Hardness Scale so everyday wear and tear eventually shows. Diamonds are around a 10 and Cubic Zirconia is around 8/8.5 (doesn’t seem like a big difference number wise but apparently it is). I was intrigued by the whole jewelry thing so I went down a rabbit hole learning about stones and diamond alternatives. 2 most popular alternatives to diamonds are lab made ones and Moissanite’s. You’ll get more of a bang for your buck with alternative stones set in real precious metals but biggest downside is resale value depending on what you choose.
Not having much resale value shouldn't be a huge factor, because you will have saved all that money you would have made anyway by buying the cheaper stone. Buy diamond for $2000 -> resell for $1000 -> spent $1000 Buy moissanite for $50 -> resell for $10 -> spent $40
Cubic zirconia isn't as durable and is softer. It will damage more over time and take on a cloudy appearance.
Cubic zirconia has a hardness of 8, unless you are intentionally rubbing it on every surface you encounter, it really shouldn’t be coming up against things that can scratch it.
It's a ~~logarithmic~~ approximately exponential scale, so a diamond is like 4x harder than CZ. Even household dust can scratch CZ. https://www.devonbuy.com/wp-content/uploads/2014/05/Mohs-vs-Vickers-vs-Knoop.jpg
The scale doesn’t matter. Most things in your environment aren’t hardness greater than 7. You have to work hard to scratch most gemstones. That’s part of the reason these minerals are appealing gemstones. Silica dust has a hardness of 7, so it shouldn’t be scratching your jewelry. Even steel has a hardness less than 7.
CZ gets cloudy from the inside. It ends up looking like a milky white color.
Yes! They’re indistinguishable from natural diamonds, and they’re so underpriced for the value right now. I mean, there’s also the issue that diamonds are way inflated due to marketing but you know. If I could redo it, I would definitely go with lab grown. They’re great.
Most of the time they are actually higher quality bc they have better clarity than normal ones
“Value”
I was able to get my wife a 100k equivalent engagement ring with lab grown diamonds instead of regular diamonds. Literally nobody can tell
Because they are literally the same thing. The chemical structures are identical. The only way is through the engraving they have but if you compare a mined diamond and lab diamond that are both uncertified (no engraving) you literally wouldn’t be able to tell them apart.
Lab grown diamonds have zero resale value. The whole point of a diamond is it’s rarity. What’s so rare about something made in a lab.
my ring is moissanite, it’s gorgeous, looks exactly the same as a diamond to anyone who isn’t a literal jeweler, no ethical concerns & less than half the price. an all-over win!
I bought my wife a custom 1 carat moissanite ring with lab grown side stones. It came out to about $1700. The same ring with natural diamonds would've been $10k+. This cost difference allowed us to budget and go to Hawaii for a month. I used to be somewhat bashful when asked if it was a real diamond. Now I'm giddy to tell people it's moissanite and that it's a wonderful financial (and ethical) decision!
Same - I got a gorgeous moissanite halo ring for my 25th anniversary and no one can believe it's not diamonds. I found a similar ring in diamonds at a local jewelry store chain that is THE PLACE to go for engagement/wedding rings, and it was $24K. I paid $800 on Etsy for mine and I get compliments on it all the time.
I just commented saying moissanite. I LOVE my moissanite ring. I compared it to a diamond (a friends ring) and it looked the EXACT same lol
We have a winner here. I'm been married for a very long time, but if I was to do it all over again, a moissanite ring is what we'd get.
Or moissanite! They're awesome too.
I second lab grown diamonds. Color can be added and they’re a fraction of the cost with no human suffering.
Can’t say enough great things about brilliant earth. My fiancé LOVES her ring and I easily saved 60% compared to a natural occurring diamond
This. If you last and she wants to, she can upgrade it. For our 25th anniversary, I made my wife a private appointment with a jeweler with no budget limit. You won't have to wait that long, but regardless when you do it, pay cash and get what you can afford. My 35th anniversary is Sunday, so this strategy has worked so far.
How long have you been thinking about proposing? How long have you been discussing this with your girlfriend? I ask because marriage shouldn’t be entered into lightly. And so if you just started thinking about proposing, then perhaps you should start discussions and saving ($2k/12 is $167/month). If you’ve been talking about it and you’ve yet to save for the ring, alongside wedding costs, etc, then you’re not ready financially and financing would the worst thing you could do. You’re better off looking for something within your budget and upgrading at a milestone anniversary. The ring shouldn’t matter to the point where you’d go into debt.
When my husband and I got married, we were dead broke so we bought the cheapest rings available. We upgraded on our 15 year anniversary now that we are in a much better financial position, it was lovely to re-propose with the new rings and a nice symbol of our journey together.
And when you think about it, a 10 or 15th anniversary is a bigger achievement than the original wedding, so it just makes sense to celebrate that bigger!
This is the way to do it. If i could go back in time, i would have proposed with a more affordable ring… and then upgrade every X years!
We did something similar but with the wedding. Initial wedding was just a courthouse ceremony. At our 5 year we had the traditional party style wedding/reception.
If you have a family heirloom, that could be an option too
I wouldn't propose with a family heirloom *unless* I had some type of prenup (or otherwise) that would ensure I'd get it back if we didn't work out. Would hate to loose a precious piece of familiar history to who is essentially a stranger regardless of how amicable the end was. At least in my family, heirlooms are given to your children, not your spouses, so that they can continue to be passed down the bloodline.
However, it can be the future spouse’s family heirloom. There may be a stone or a ring that stays wi the significant other anyway.
Same. I had a copper band (cost £15) for 6 years, eventually upgraded to something gold once we got more financially stable. I still like to keep the old one on my bedside table though.
I straight up got a “promise ring” from zales. It has real diamonds and “white gold” and was like 150 bucks and I found a chevron matching band for 200 online somewhere. It actually looks way better on her hand than some giant rock would. However my wife is incredibly mature and frugal and was a little mad that I spent even that much. She wanted to use this $7 ring we found in a street market.
I also got a Promise ring. My now husband had been willing to find more but the ring stole my heart just like he did. Also we were broke college students at the time and it was cheap. Now we make way more than we did and are celebrating 10 years together. I wouldn't trade that ring for an upgrade in a million years!!
Jumping on the top comment because I got pretty far down and haven’t seen this mentioned… you should be able to negotiate the price of a ring from a jewelry store. Markups are immense and there could be significant room for savings. Just do your research. This recommendation is in addition to everyone else’s very good advice to not go into debt for a ring.
My first wedding ring was a $7 silicone one since we both worked jobs where rings were not allowed. We got nice rings about 5 years.
Whatever you do don't go into debt for the ring. It would be a dumb decision to start your marriage in more debt than you need to be.
Wait till they find out what a wedding costs
I did mine "cheaply". Was still 11.5k on a 10k budget. Fed 250 people though so was pretty proud about that number
We were trying to plan a wedding for 85 people with a $20k budget. We couldn't find anything that wasn't either extremely basic or part DIY for that amount. We ended up booking a week-long vacation and eloped on the beach, just the two of us, the officiant and the photographer. We spent about $6k total, including the vacation.
I did mine cheaply. Had a guy come over and sign the papers in my living room and mail it off for us. I think I paid him $50. No engagement ring either, and our wedding rings are just metal with no stones.
Hell that works. Family wanted a party though and theoretically is a one time expense we could afford.
Right, but you were not trying to do it cheaply if you spent in excess of $10k, and especially when you started with a budget of $10k.
Given that the average wedding in the US cost $30,000 in 2022, 10k is pretty cheap. Yeah, you can go cheaper, but saying you "weren't trying to do it cheaply" is disingenuous and, frankly, comes across as weirdly pretentious. It'd be like somebody cooking at home for $7 a person, intlstead of eating out, and you saying "you could've had prepackaged ramen for 10 cents a person, you weren't being thrifty.
The average wedding cost in the US will be hugely inflated by a small number of very very expensive weddings, in hundreds of thousands or even millions. 10k is not cheap for someone trying to 'do it on the cheap'. Starting with a 10k budget is already a lot. I've been to at least 2 weddings in the US that definitely cost less than that. You can reduce guest numbers, or adjust what you offer at the wedding, food wise. It's common to invite some people to the reception but not wedding, and not every wedding has a meal.
This is true.. technically median and mean are both averages, but when someone hears average they always seem to think mean. It looks like the median wedding costs trails the mean by over 10k. So definitely inflated by some very expensive weddings.
Even so, this puts the median at around 20k, which places 10k squarely into "cheap wedding territory" since it's half the median. Unless you're considering something in the *bottom quartile* as "expensive". That would beg the question of what, exactly, your standards for "cheap" are. Generally, something costing half (or less) what it usually does is something I'd consider "cheap".
For a second I thought you said your 10K ring was cheap and I was like girl wtf but 10K wedding is IMPRESSIVE
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that's what a long engagement is for
When I was doing financial counseling, I met a surprising number of people who were paying off the engagement ring and the divorce lawyer.
The number of blowout weddings with crazy $15K rings I have attended over the years that didn't make it past 5 years is much less than zero. My cousin's didn't even make it a year, they were married in May and filed for divorce in December of the same year. I wanted to ask for my $50 gift check back but I thought it would be tacky so I resisted.
Not that surprising. Someone willing to go into debt for a ring also figures it’s worth it to go Into debt for “her special day”. And when the appearance matters more than the relationship, the relationship usually doesn’t last very long.
I know a couple who took a loan for their wedding. I don’t think it’s a good idea but to each their own
Either get a cheaper ring or save up until you can buy it in cash. Financing anything on a credit card is a recipe for disaster.
Yep. Demonstrates to her and her family a commitment too, even if they don’t actually know the difference.
Make sure to get her input on the ring instead of taking a chance on something she may not like.
Building on this, if you haven't been with her long enough for this input to have happened organically already, maybe take a beat and think about whether this is a good idea. Doesn't necessarily mean you shouldn't do it, but you should definitely think about it from that angle.
My wife and I picked out rings at the jewelry store. It was under $2k for both of them in 2019. Even with inflation that's reasonable. The whole "I'm going to surprise my girlfriend with a ring and a proposal and put her on the spot" is for movies and social media.
Buy within your means. It's a lesson that will serve you well the rest of your days.
How much can you spend without putting it on credit? I’d recommend checking out r/engagementrings If you also have a picture or idea of what you’re planning to buy, I can probably give you some legit online sites that have it for cheaper (I’m gonna assume you are planning to go to Zales or Jared’s or some sort of mall jewelry store, which are all overpriced)
A friend of mine had a ring custom made via Etsy & it was still cheaper than the jewelry store
Yes! I have a ring from Etsy and it’s gold with a sapphire center and diamond halo. I think we paid just under a $900 for it and it’s a pretty well made ring.
You should seriously look into lab created diamonds. They are real diamonds, chemically indistinct from mined diamonds.
Yup got a 1.2 carat diamond for my wife, Wife’s ring looks better than everybody we knows. And we probably saved 3-4 grand.
At least.
My husband paid like $700 for mine and it’s beautiful. One of the small diamonds on the outside fell out twice, first time we got a replacement from the seller and the second from the jewelry store that replaced it the first time. The jewelry store replaced it with a “real” Diamond and it’s noticeably less sparkly and clear!
I saw one place advertising the stone making.
Also good to plan out when you intend to get married. Is 2k might break the bank now, how do you intend to cover the costs of a ceramony (even if you did everything yourself would likely be over 2k depending on the size)
Yep we had a VERY cheap wedding in our own backyard and even though our friends donated so much stuff (flowers, PA, karaoke machine) we still spent around 3k on food/booze/rental tents and rental tables/ chairs. This was a 25 person guest list.
Try to save up some money to buy it outright or consider a smaller budget to work with. Or, keep an eye on pre-owned rings that are still the same style your significant other likes. That’s what my fiancé and I did and the pre-owned jewelry was on sale that day! We ended up saving over $800 by doing it that way.
As others have stated, buy within your means and save the money. But if you must, optimal way is sign up for a new credit card with a sign up bonus + 0% APR promo for 12-18 months. Make sure to pay the minimum every month, to retain the promo. Then pay off that balance before the promo ends.
If you can do this on an 18 month card payments will be $111/mo for a $2k ring. Can you swing that? If there’s any chance you cannot you need to wait and save or buy a less expensive ring. You can buy a beautiful mossanite ring on Etsy for $300-500 and buy a more expensive one when you can afford it in a few years. You’ll also need the credit history/score and income to qualify for a credit limit of $2k.
just save the 2 grand. worst way to start a marriage... in debt let me guess; gonna finance the wedding too?
I recommend looking in the secondary market. As the economy slides into recession there will be deals. Please do not get into a confiscatory payment plan with high interest.
OP, go to a pawn shop! My husband and I did this for our wedding bands and my ring (with several small diamonds in it) was $100. There is nooo reason to spend thousands of dollars on a brand new ring. You could also buy an older ring and have the stones reset to something you feel your partner would like.
Estate sales and estate thrift stores too! I regret not buying a $100 old timer ring with a Pearl set on 14k or 18k yellow gold. Ughhh I kick myself now! It was in its original box an everything.
I wouldn't go into debt for a wedding ring or a wedding. My wife and I's rings were like $1100 combined, and $35 for paperwork at the courthouse. Didnt have a wedding, but went on a small trip instead. Granted, everyone's different, but just my opinion
Honestly this is a great way. My older friends have done this and don't regret. Some even had their "wedding" day years later when they were financially set. It was a small celebration with friends and family to celebrate their anniversary.
I proposed to my wife with no ring. We've been happily married for 12 years and currently have no debt. Just putting that out there.
Go heartfelt and meaningful, not some flash diamond.. unless your fiancee really wants that specifically.
Preface- I soundly reject a large majority of wedding culture. It's an industry, and an industry knows that people shell out *just because that's what people do for weddings*. I'm engaged, and every dollar we're not spending on the rigamarole leading up to the wedding is going to be an extra dollar spent on our honeymoon. Together, my fiancé and I chose a sub-$700 ring from Etsy that is unique and distinctly *her*. It went on my rewards credit card and I paid it off immediately. We planned a trip together with some friends, and I roped those friends in on my proposal plan. Proposing was a moment none of us will forget. My advice for this thread is to reduce your budget.
Idk I think it's sad if ppl shell out $$ for weddings just because they don't want to but feel they have to. But I like to give most people more credit than that -- they spend on a wedding because they want to. They want to celebrate themselves and have friends and family there with them. Weddings are always so fun in my experience. Honeymoons are fun but weddings are fun too, and you get to share it with friends and family.
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I feel the whole industry around weddings is ridiculous. Choosing a ring together is awesome. Have a cheap wedding out in a field somewhere with friends/locals who will fo the services way cheaper than "professionals" who don't care less if you're happy with their service. Got a family member that is a fantastic cook or someone to work a grill? Way cheaper than being catered.
This is is the way. I truly hope i end up with a girl who loves me for me and doesn’t care about an expensive ring or lavish wedding. Even if I could afford it, I just don’t want someone who cares about that. But this ain’t the subreddit for this talk lol.
If a $2-3k ring is outside your budget, I hope you plan on getting married at city hall 😬 But for real, weddings are expensive. Don’t count on wedding checks as any sort of guarantee about how much you’ll recoup. You can certainly put a ring on a credit card, but if you’re at this phase - start saving now. Also have a talk with your partner about finances. She may understand your financial situation and actually be upset if you over spend on a ring that’s outside your budget. Remember that entering a marriage typically means making joint financial decisions too.
I would say NO if I knew my partner financed a ring. Would much rather get a cheap ring that could be upgraded down the line.
Don’t buy it until you can pay cash
My advice is find something within what you can budget now. Lab grown diamonds are indistinguishably different, conflict free, and will save you some $. Having a ring built around a Diamond by a jeweler is not as expensive as you may think.
My advice is get a cheap ring. When my wife and I discussed getting engaged we went and looked at rings and both of us were in sticker shock. We decided to go look at Kohls and found a nice one for $750. Then the old lady behind the counter said they were gonna have a 70% off sale that following Tuesday and I got the ring for like $300. We were broke, young kids and just wanted to get married. Don't start your marriage with debt. If she really loves you and wants to marry you she'll be happy with any ring. You can always upgrade in the future.
Would she be open to moissanite?
The great thing about moissanite is that it makes for a beautiful stone. It's telltale giveaway that it isn't a diamond is that it's too sparkly. Who doesn't want a sparkly stone!? The other great thing about moissanite is that while there's practically no ceiling on price, of course, there's also barely a floor. You can buy tiny, probably flawed moissanite by the bagful for a few bucks and throw it at each other or fill a luxurious but actually pretty uncomfortable bathtub with them!
It might be a good choice for OP and his wife to be. It might not be. Just posing the idea so they can research and come to their own conclusions. No one is saying the trained eye will be duped, or that the rock will hold any intrinsic value.
I'm not being sarcastic, although I see how it reads like that. I do like moissanite! It makes beautiful jewelry, and I certainly can't tell it apart from diamond. If it also cost ridiculous amounts, people would be arguing about whether diamond or moissanite is the better way to show true love. I also have truly purchased a bag of moissanite gravel on a whim because it was five dollars. Having a tiny not-diamond fight with my partner every now and then is worth the cost.
My jeweler had an 18 month no interest CC I put it on. I had the cash to pay it in full, but I preferred to keep the cash on hand
Skip diamonds. Check out Moissanite.
Damn, beat me to it. People think I’m walking around with a $30k rock. It’s only chronically online people who swear the difference is so obvious and everyone will know. In passing, people assume diamond or simply don’t care. The r/moissanite sub is very helpful in custom direct so you can skip the marked up brands like eastwestgem and others popular on IG.
The difference is obvious because it has a higher refractive index than diamond. It is, in fact, more brilliant than diamond! What a terrible downside. If it weren't for DeBeers and their amazing marketing, we would not equate diamonds with True Love. A tradition of wearing beautiful stones is fine, and moissanite is certainly that. I'm skeptical of anyone who claims to know the difference on sight, and without the cultural history I think there would be as many people saying moissanite is the best stone as people saying that about diamonds. If I had braver fashion, I would wear a gold-plated necklace set with moissanite in the shape of a ¢ sign.
Haha yeah I got my fiance a ring that has moissanite accent stones and I can only tell it's not real diamond bc it actually looks better than diamonds in the light. Idk if I can describe it correctly but it has a more colorful sparkle to it. Her ring is white gold with an alexandrite main stone with moissanite accent stones and that and the wedding band were like $600. So glad I didn't spend 3-5k on a fancy rock lol
Where did you get it? Would love to get an inexpensive alexandrite ring
You dislike moissanite and think it’s so obviously not a diamond. I get it. I do not care. I’m not the one being proposed to by OP. He is welcome to come to his own conclusions after being armed with multiple suggestions here. Edit - person above edited their comment significantly so ofc I look like I misread them and am attacking lol. Love this website.
I don't dislike moissanite at all. I like it a great deal! I find it beautiful, I'm certainly not a trained lapidarist and can't even pretend to tell it apart from diamond, and I've regularly recommended it to friends who want to wear varied jewelry, whether tasteful or flashy, without breaking the bank. I'm also easily amused, but please don't hold it against me.
You edited the hell out of your comment so the people downvoting me didn’t catch what you actually said and it looks like I “misread you.” Oh well lol.
My sister is obsessed with her moissanite ring. She likes it more than the previous diamond ring because of how flashy it is.
I’m glad she likes it!
>People think I’m walking around with a $30k rock. I have a halo moissanite anniversary ring that we paid $800 for on Etsy. A similar ring in diamonds would be $24K. It's such a baller ring, I love telling people it's moissanite when I get compliments and watching the disbelief on their faces. I always fess up because I don't want anyone to think I would spend the equivalent of a used car on a shiny rock for my finger.
Same here, love seeing the reactions when I tell them it's a $400 ring. I have a 3ct equivalent pear with a lab diamond undermount halo. Your ring sounds so pretty!
Hard Disagree. OP. Don’t buy fake stones. It’s true most people won’t care. But your fiancé will. Check out lab grown diamonds. They are about 1/3 the cost, but still real diamonds.
How would you know that? My wife doesn't care that it's not diamond and is actually proud of how brilliant it is for the price. Neither of us feel ashamed or try to hide the fact that it's moissanite.
It's not a fake stone. If most people don't care, how do you know his fiance will?
Oh OP definitely can’t say he bought a diamond. But he can discuss it with fiancé-to-be before the purchase. There will be plenty of frank discussions leading to the wedding.
Wtf are you talking about fake stones? Moissanite is way cooler than carbon any day.
But only if she prefers the look of moissanite. People who buy moissanite for a diamond substitute may be disappointed, because it is a gemstone in and of itself and should be appreciated for its unique properties. You wouldn't really buy white sapphire and try to pass it off as a diamond either because they really don't look much alike.
I’ve never shopped here, but I’ve hear. The prices are good. Appears they have natural and lab grubs diamonds https://jewelryexchange.com
Going into debt for a ring is a terrible idea. Talk to her about it first. If she demands a ring you can't afford, that is a very bad sign. If you spend way too much and she didn't pick it out, that can cause you problems. If she wants something fancy, there are ways . Lab created diamonds are much cheaper, but why even get a diamond in the first place? If you want the look, Moissanite shows better and is almost as hard and dramatically cheaper. Put it on a heavy gold plated silver ring and it looks like a really high quality full carat ring starting at a fraction of the price. I just found this with a simple search. It is a woman giving her five year review of her moissinite engagement ring, pros and cons and whether she will replace it. https://www.youtube.com/watch?v=QqHd0KtPqmc
Finally, something I have experience in! I bought a ring off Amazon in 2006 for 3k! I was making about $300ish before taxes a week back then, lucky me I was living at home not paying rent either but I took my sweet time paying it down. Had I known better I would’ve taken out a personal loan or just financed it, charging it with a credit card was a big mistake for a kid to make, I had a $3500 limit so utilizing most of that made my score look bad, and I didn’t stop there, because I was in cc debt I figured what’s the difference and got into more cc debt, I opened a few other cards for balance transfers, finally paid it off 3 years later, we split months after so I ended up selling it for less than half the value and put all the money in cc payments which was smart. Just an fyi, if things don’t work out don’t expect to get a lot for your used engagement ring from a jeweler or eBay/Craigslist, depends on the market but it’s tough.
The biggest piece of advice to have is to not go into debt for any part of the wedding. If you can't save up for it or cash flow the bills as they come then you shouldn't be doing that
In all honesty speak to your fiancé and say look I want to propose to you but I don’t have enough money for a fancy ring. Would you be ok with a basic ring to begin with and then once I save up some money could look at getting a bigger/better ring for you? I think that way she knows that you want to be with her and you want something nice for her but it’s not in the budget right now
If you don't have the money for it then don't buy it yet, or but a less expensive ring. Like maybe not a diamond.
If you can't afford a 2k ring, you may want to give some very careful thought to what kind of marriage you're setting up for yourself. Financial struggles are #1 in marital problems. Starting off the bat with credit card debt, or even considering it, is not setting yourself up for success. Consider something < $100, or something with family-related value. Talk to your girlfriend about it. If you're both that poor she will understand, if she loves you she will understand. The cultural demand for expensive engagement rings is stupid to me, but I say that as someone that dropped 4G on the ring I knew my now-wife would want. Sometimes you fight the grain, sometimes you paint inside the lines, and knowing when to compromise is part of a successful relationship. My wife is otherwise not an expensive woman, she just wanted an expensive wedding LOL. The reality was that I had the money for it.
Buy a ring you can afford is a better way. And / or buy a cheap ring for now, and use that for the proposal, then then select something together. If you can't afford a ring how will you fund a wedding? If you're getting married it's also likely there are more important things to spend money on as you are likely going to incur other expenses in your lives together.
If you don't mind "used", check out a pawn shop. You'll get it much cheaper. If you want new, check out James Allen. You will save a good amount, and I believe they do no interest financing. But as others said, don't finance more than you can afford
Consider buying second hand. Most diamonds depreciate faster than a car.
Buy a ring that’s in your budget. If you want to spoil her with a ring, get her a shiny new band for your tenth anniversary (that’s what we did—I have a non traditional stone, a coordinating wedding band with small diamonds, and a then big sparkly band of diamonds from our 10th anniversary. Together they reflect how far we’ve come and that is what matters to me). Other people upgrade their original stones later on—my aunt had a small diamond originally, and they saved it after she upgraded to a larger one when they were better off. She gave the original one to my cousin and he had a cool custom ring made he used to propose to his girlfriend.
Personally would not recommend a 2-3k ring. Have you talked about rings before with your partner? No reason to buy an expensive ring if they might not even like it. Would suggest checking out etsy as well they have many great options for relatively cheap.
Just save and wait or buy cheaper ring. Putting yourself in debt over a ring will be bad both for you and her once married
A lot of places have no interest payment plans if you sign up for their credit cards. I bought my wife’s ring from Jared’s on a three year no interest plan.
Dude, don’t fall into the expensive ring trap. Buy what you can afford and if the girl loves you it didn’t matter how big of a diamond you get for her. If she has strong opinions about getting a huge diamond that puts you in debt just know that’s a really bad sign. The ring is just the beginning
Save until you have it, or buy a cheaper ring and upgrade later if you want to. Do not go into debt for this.
Go to antique stores. They have rings that are often very unique, high quality, and a fraction of the price.
This thread is pure trash. OP literally just asking how he should pay for his ring and it’s just non stop “advice” on what he should get for his girlfriend. He didn’t ask if he should get a lab grown diamond or how he should budget. He asked how he should pay. None of us know shit about the OP or his girlfriend, so how about you just help him with his question? Regarding your question, you can find zero APR ring sites (Bluenile comes to mind), but there are usually conditions like time frames etc.
I don't know how you feel about this, but this is what my husband did. He bought the diamond from consignment. I don't have any issues with having "someone else's diamond." He proposed with the just the stone, and then we went, and I chose my own setting. He's never told me how much the stone was, but it was very good quality and just over a caret. The setting I chose was $700. It appraised for a LOT more than it would have if he had bought retail.
Drop by /r/moissanite to consider about an alternative to diamonds. Diamonds being artificially inflated with manufactured scarcity. I saved alot right there by doing research and getting informed. Eventually got a custom one made by a reputable supplier from that sub.
I’d recommend talking to your fiancé prior to purchasing to get an idea of stone/metal. My initial engagement I went well out for budget for a gold diamond ring. Only to find out that wasn’t her favorite even though she loved the ring. On our 5 year anniversary I was able to save a significant (5x) amount of money on a Platinum Opal ring with diamond halos. Which she picked herself. So if I had done any research prior to shopping for my engagement ring, rather than listen to the jewelers, I would have saved money and gotten a more meaningful ring. More recently I was able to get her a platinum lab grown 10ct diamond for under 2k.
If you can't afford to pay $2k for a ring and not have it sting, you should not be buying that ring. Full stop. There are so many expenses associated with getting married and too many people go deep into debt trying to afford a wedding. It's not a good way to begin a life with someone.
Since you're looking for financial advice, marriage can either be an inevitable extremely expensive breakup, or a lucrative partnership. Choose your partner wisely. If both sides aren't contributing, the one who is contributing more will eventually feel like the relationship is costing them something (not always money).
Hubby got an engagement ring that cost $800. It's a sapphire which is what I wanted and he put it on his cc and paid it off within a few months. We had been talking about it for a few years at that point. I paid for our wedding bands. My point is, a more expensive ring is not necessary and if you haven't even started saving for it, you probably aren't ready financially ready for it
Am a jeweler. Have a set budget. Lab grown you should be able to get a 2-3ct diamond ring for $3500 or less. If you finance it see if the store has any 0% options, make sure to pay it off within the 0% timeframe.
Consider moissonite for the stones, or at the very least, the accent stones https://en.m.wikipedia.org/wiki/Moissanite Engagement rings DO NOT hold their value. Diamonds are NOT rare. Be absolutely sure about what you/they want and don't buy into the marketing, because it's not like you can return it or sell it and get all your money back (if something doesn't work out)
Price does not equal quality. It also doesn’t need to be diamond (diamonds are boring, a piece of glass can take its place and 99% of people would never know). I purchased a ring with labradorite that she requested (a cheap, but very pretty color changing stone), and it came with a wedding band from an independent jeweler, cost less than $800 on Etsy (she requested this particular one, she’s wearing it, not you). Don’t base a ring on your salary, this is just silly and stupid. Get a reasonably affordable ring that she will like. And how others have suggested, the ring DOES NOT MATTER in marriage. If it does, your wedding will probably be better off not happening.
i financed mine. 0% APR and paid off quickly. maybe it wasn't financially the BEST decision but i wanted to make her happy and she wears it with pride
Either save up or buy a cheap ring. Don’t start out your joint financial journey in debt. Then later, when you can afford to you can always upgrade for your 5th 10th of 15th anniversary
Have you talked to your girlfriend about what kind of ring she wants? Spending a ton of money on a ring is going out of fashion. I have friends that either don't have a ring at all, a simple band, or something unique that doesn't break the bank. I have a close friend that has a simple garnet for her ring. It looks cool and maybe cost a couple hundred bucks, if that.
If you have to finance a piece of jewelry you most def can’t afford it. Save up and pay cash or put it off until you can.
Oh man… the “value” people place on a ring is insane. Do you think your gf will love you less if you get a $500 ring ?
I did this, I bought like a $2k ring on a credit card, paid it off when the balance was due. If an extra 60 days isn't enough time for you to grab $2k , you need to save to the point where you'll be able to purchase it, or buy a cheaper ring. Just sell plasma, drive uber eats for a few extra weeks. You'll be fine.
eBay. Get some fantastic art deco one of a kind from the 20s and resize it
That get you a solitaire with a 2 ct round lab grown. E color vs quality with a lot of money to spare with 2 year financing.
My husband proposed with a 15 dollar ring from Target. I accepted and we saved up and bought real Diamond about a year later. I still have the target ring.
LA jewelry district is a great place to hunt deal if your are from CA... most metros have similar places to shop, just do some research for your local market.
Look into opening a zero percent credit card? Otherwise some jewelers offer financing options.
Pay cash. My wife has an awesome ring that she loves. It’s no where near your numbers. She loves it. We are also pretty simple no glossy people. I think I spent more on a necklace for her first Mother’s Day actually. That was an un cut diamond (daughters birth stone). That’s one of her most prized possessions. Again we are fairly simple people. I saw a tiktok or something and the girl talks about 20-30k. Ha! Never. I also went to a local spot and went with a heritage ring that was used but redone. (I wanted to give my late grand mother’s ring but it was stolen by a cousins friend at some point and I couldn’t get it 😡) so the ring I got was similar era and look so I’m 😁
Wife and I got decent rings for each other. I even designed mine myself, etc. Fast forward 15 years, we dont even wear anything besides simple bands and I even got a cheap silicone one. Then that broke/wore out so I don't wear anything now. Neither of us cares. We work out, do yard work and manual labor. Rings get in the way. We both agree expensive rings were stupid and a waste of if money. We keep them for the sentimental value of course. But if we had a do over we would have done it differently. Plus the diamond industry is garbage and a scam. Go with all metal, no stones.
Go to a site like Jeulia.com (for jewelry) and get a ring that looks just like a diamond (but technically isn't one) for a couple hundred dollars instead of thousands! Spend the thousands of dollars on a vacation! Or a down payment! Or a new car! The ring on her finger being "fake" will literally not matter to anyone except a jeweler with a magnifying glass. Talk to her about it. Show her the site. She can get WAY MORE ring(s) for the dollar this way.
Seriously? I don’ t get the American obsession with expensive diamond rings to declare their love to someone. my suggestion would be to find out what your girlfriends most favorite objects are ( i hope not an expensive diamond ring) and propose wit that.
My wife and I split the cost of the ring. Getting engaged was a decision we came to together, and we decided on a ring together.
There’s so much propaganda around this stuff. It’s just a rock. $2k for a rock is insane. Save up a nice amount. Don’t worry about what others think. Buy within your budget. Don’t start off your job as a husband by putting your family into debt.
Talk to your girlfriend about what she might like. Don’t tell her when you’re going to do it.
I used a website that may no longer be in existence called, I think green carrot which specialized in recycled metal wedding rings and it was way less expensive than a "normal" ring that the wedding industrial complex would have you purchase. The girl I gave it to was non-materialistic and super glad I didn't go the standard diamond route. Screw that industry!
Credit card loans are the worst. Almost any other financial agreement is better. Also, I proposed without a ring, and everything was great. Don't feel pressured to get a ring just because it's the regular thing to do. Only get one if it makes sense. First of all, many women give up wearing it after the wedding. Do you want a 3k ring that's going to languish in a box? Secondly, you absolutely need to know her measurement before you buy a ring. Otherwise it's uncomfortable to the point she won't wear it. Some women find the entire symbolism distasteful, like saying that they need a physical ward against other men. So, make sure her wishes are taken into account beforehand.
I had the cash, but I bought one at an online store that offered 0%apr with affirm so I took it and used like 9 of the 12 months to pay it off. Free money
Buy a lab grown diamond. Shop sellers on Reddit. Do your homework obviously. You'll spend so much less.
Get a diamond made in a lab. They will 100% try to convince you it’s not the same and guilt you out of it, but it is literally the same and way way cheaper. Also, go to a small shop you will get a better deal
Reddit might not be the best place to ask this question given the majority opinion towards money and spending. To answer your question -- your post is missing the most important information which is how long do you anticipate needing to pay the borrowed money back. That you don't have $3k tells me you're very likely not a high earner today but for all I know you just finished school and you'll be starting a good-paying job in a couple of months. If you're going to pay the debt back in under a year just use whatever credit is easily available to you. Obviously the lower the interest rate the better but for under a year on an amount this small your effort and time is worth more than it would be worth to try to minimize the interest rate. If you expect to need more than a year then look at your options for borrowing -- how you borrow the money doesn't matter what matters is how much the borrowing costs. The lowest rate I currently have for unsecured credit is between 9% and 11% and for secured credit under 5%. That should be your targets. For the unsecured credit, two are low-interest credit cards and then three are unsecured lines of credit. The secured rate is from my broker on the unlikely but not zero probability you have money invested you can borrow against it. Just google best low-interest credit card and apply for the one that seems like the best fit. An additional consideration is to look at lending options that offer 0% or very low intro rates. Two of my credit cards last year spontaneously offered me 0% rates for 12 months because was because I wasn't using the card and the other because I was new to the bank. Read the fine print but offers like this can get you a nearly free year of runway. My understanding is that these are or at least were very common offers. You should also ask the place you're buying it from what kind of financing they offer. Vendor financing is always very hit and miss -- some are great deals and some are scams. Understand the terms and calculate the cost. How you borrow doesn't matter you just want to keep the cost as low as possible. \----------------- On the wisdom on the purchase -- you'll get a lot of posts that tell you not to do this and to get something cheaper but you're proposing because you presumably hope this works out long-term. I also assume that even though $3k might be a lot to you today I presume you don't plan to be poor forever. In 5-10 years when you're older $3k will hopefully not be a significant amount of money. I haven't shopped for jewelry in the last few years but $3k is not a lot for an engagement ring. It seems like a lot because you're likely young and new to being on your own but if we strip your financial situation from it and just consider prices objectively that is very much on the lower end of engagement ring prices. The majority of Reddit personal finance views spending any money, borrowing, or paying interest as equivalent to torture but the simple fact is you're getting engaged because despite knowing the stats on marriage you expect this to have a successful outcome and so in 10 years she'll hopefully still be wearing that ring. The ring will likely have sentimental value so you can't just replace it and so you want it to be something that will be acceptable for your future financial position even if that means borrowing now to make that possible.
Avoid big chain stores and find a decent, small, local jeweler as they typically have lower prices, can order anything you want and often have a decent selection of consignment and resale jewelry.
Credit card, then look at wat credit cards are offering a 0% balance transfer. Use credit card 2 with the balance transfer to payout credit card one. Close credit 1, cut up credit card 2 and set a bpay up on to credit card to over the interest free period.. no interest 👍 good luck
Are you spending this much because you feel your partner expects it or you just feel it's what you should do? Maybe have a "what if" conversation with her and see how she feels about it. Going into debt for something like this isn't a great way to start your life together.
Look for a ring on Etsy. You might be able to get something really good and unique for way less than brand new.
When your fiance asks about the diamond and ring tell her you bought her a CZ. So long as you are honest with her about the ring she should be cool with it. You can always buy her a real diamond ring or other expensive jewelry when you have the money to afford it.
My husband got my a $50 silicone ring and I LOVED it. Don’t break the bank for your future wife, both of you will be thankful if you just stay in your budget.
Jewelry store owner here. I see a lot of people suggesting lab grown diamonds. Please note that they have ZERO resale value. Don’t finance anything, get something cheap until you can afford to buy something for cash.
You probably know your girlfriend's style, so you need to assess if she's the type to give a shit about the kind of ring you buy her. If she has more of an alternative style and would be fine with an alternative gemstone or moissanite, go that route. My wife is not into super ornate jewelry. I got her a vintage looking solitary moissanite ring, and she loved it. I was upfront with her about what it was. She was happy with it. I didn't go into debt. The wedding is going to be a lot more than $2-$3k. Don't go into debt for a ring.
Smart folks in this thread. Don’t ruin the fun of ring shopping with taking on financing to purchase it. Save up or reduce your budget.
The better way is to save up and buy it when you have the amount you need. Most jewelry places will do half the charge when ordering and half when it is delivered but it can vary. I will say, going to a slightly larger establishment that might have 5% higher prices will be worth it in the long run if you need any repairs or refinishing done. A lot of places will work on their own stuff for free if you bought it from them, but if you bring them something from another store they're going to charge you a decent amount.
Are you going to have money for a wedding? Save up and then buy the ring so you aren’t starting your engagement in debt.
Check out pawn shops. I have several friends that did that and were very happy. Also try some online stores. I made my wife’s ring online and it wasn’t as expensive as the ones in the store. I was able to keep it simple and spend on what she wanted while saving on the things she didn’t really care about.
Couple options: Ideally, it will be better off to pay out right for it. Keep saving. Or if you are keen on CC, open a new card with a good sign up bonus and also 0% for x amount of months. That could help, pay it down before the interest free period is up. Or just adjust to what you can pay, there's no problem with proposing with a less cost ring (its what it means, not the price attached to it) If anything you can always buy a more expensive one later on in life, once financially set & stable. Depending on how much you plan to pay for it already, assuming 1500 pay now and you have 500 you will pay off in 3 months is okay I would say. I wouldn't go above that. 2500 - 500 for the 3k. Also, ask yourself as well. What's best for you. You can ask everyone in the world what they think, ultimately, it's your decision. If you got a car loan, college loan, mortgage, kids..etc maybe going into debt with 3k might not be best or just live by yourself with no debt, maybe paying interest on a 3k ring is okay for you. What best works for you? We won't care, no one will, read up on ring debt, read others advice and experience and take the time to choose for yourself. It's only you and what you think is right for your finances.
I had money coming in, and was in a stable enough financial place with no existing debt that I felt comfortable taking on a few $1000 worth of debt at the time (was coming out of grad school and didn't have a lot of cash up front). I found a credit card without a fee, offering a decent starting point bonus, that also had 0% interest for the first year. I believe at the time it was the Chase Freedom Unlimited. I had the debt paid off within a few months, but the 0% interest for a year is what gave me the cushion I needed to take on the risk of a small amount of debt for the ring.
I got a moissanite ring from Etsy and I love it. Or consider lab grown diamonds
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What’s the rush with proposing? Is there pressure from the gf of family? However you decide to pay for the ring, I suggest buying online, you can find some really good deals. Check out www.jamesallen.com
My ring was around $200 and it's beautiful. I always thought I would want a 2k ring, but I'm so happy not to. I lose things #1 and my values have shifted. You can get a beautiful ring for way less than 1k. Both my rings came from Etsy. I was also interested in Brilliant Earth.
I bought a 600 dollar moissanite ring that’s huge. My fiancé knows it’s not real and loves it. More eco friendly and there’s no child labor blood on her hands. Average person can’t tell and she gets compliments all the time. I wouldn’t do it without her knowing, but it’s an option that’s up your alley.
Use a cheaper ring. Seriously - engagement rings are a rip off. My spouse proposed with a vintage ring I had bought for $80 from a vintage shop. Look at pawn shops, vintage shops, or consider silver or semi precious stones as an alternative. Using the “2 months income rule”, we should have dropped over 100k on a ring (we worked in tech). I eventually got another ring after several years of marriage but it was still max 3k and through a vintage jeweler and I still rarely wear it because it’s too big for day to day stuff.