Need HELP..

[WannaBe]

I am needing to make a decision...Here lies the situation, I am about to "pop the question" to my girl. Of course I have to choose the right ring, which is going to cost more than I have on hand for one transaction. With that being said, I will finance the ring. Most jewlery companies have very high interest rates, so I was thinking to apply for a credit card (which I am not a big fan of, but considering the situation...) with a lower interest rate. Am I thinking straight?? What company would you professionals advise for a credit card?? Any other advice would be very helpful. Thanks in advance.

[Ima saver]

Re: Need HELP..

If this is your first credit card, you will probably not get one with a lower interest rate. Have you ever thought of asking your girlfriend to pick out the ring and put it on layaway? Or if you do use credit, the jewelry store would probably not charge any more interest than your first credit card.

[WannaBe]

Re: Need HELP..

It would not be my first credit card, still have a couple active. I have good credit and would likely get something with a better interest rate than the jewlery store, they seem to be pretty standard on rates regardless on credit history, guess most that have to finance they will charge the high inerest. But there again lies my delima..getting something with a lower interest rate seems logical but in no means am I financially savvy. Just wanted some advice before I jump into this..thanks again

[Broken Arrow]

Re: Need HELP..

A couple of thoughts.

First, some are willing to settle for plain comfort bands as engagement rings. I don't know if you're in that camp, but if you are, you can find those sold wholesale for as little as $50.

Second, I would check eBays and pawn shops. Sometimes, you can score awesome deals. Grantedly, it doesn't sound as sexy as buying it from brand-name, retail outlets, but a good ring is still a good ring, regardless of where you bought it and how much you paid for it.

I've always thought it was insane to start off a marriage or even an engagement by going straight into debt. This, especially when you consider that money is argueably the #1 reason why marriages fall apart.

[catlinye_maker]

Re: Need HELP..

Are you both set on a diamond? When my husband and I got engaged, we got a lovely garnet set in silver as our engagement ring because I wanted a ring right away and we could afford it. I've always loved garnets and prefer silver to gold so it was the right choice for us. Something to consider.

[nanamom]

Re: Need HELP..

I never had an engagement ring. They are expensive and can be lost way too easily. I have seen people leave them on the sink in restrooms because they can't wash their hands with them on. I have seen them sit on the sink at home while people did dishes and that makes me think of garbage disposals. How about a nice necklace, or even earrings. Unless she is a traditionalist. If you are considering this big step then hopefully you have an idea what her thoughts about debt are. If she agrees with you (debt bad) then not going into debt would be a great thing. Think of a really fantastic way to pop the question that will be the most romantic thing her friends ever heard of and seeing the ring will pale by comparison.

[34saving]

Re: Need HELP..

Congratulations!

I'm totally in the buy used camp. (Even if you buy it for the diamond and then have it reset by a local jeweler you'll probably save a TON of money.) Craigslist.org (scroll to your local city) can be a good local source so you don't have to worry as much as you would buying online.

That being said, get a credit card with 0% financing for at least a year (it's hard to get longer) ON NEW PURCHASES (that's kind of uncommon, but can be negotiated). Don't use that credit card for ANYTHING else. Seriously, NOTHING else. Set up autopayments if you can and make sure they're for more than the minimum! Try to get a limit that's at least 3x what this purchase will be. Also keep in mind that the jewelry store really wants your sale, so they might offer pretty good financing. At least check it out.

If you didn't figure this out, I don't think the company matters much at all. They all try to make money in the same ways and that's often by screwing people. Make sure to read all of the fine print.

[PrincessPerky]

Re: Need HELP..

Dh asked with no ring, was very cool. I actually picked out my ring. funny thing I never wear it, it isn't for moms! (I do wear my wedding ring)

If you are set on a ring try looking to family..I know I will be offering my rings to my kids, I think it would have been awesomly romantic to get an heirloom ring for an engagement!

I know I would rather give a small amount (couple hundred) than have my kid go in debt before they even start their family.

I know a couple months can seem like an eternity when you are in love...but you are asking her to be with you forever right? a coiuple months is not really that long...

I'll ditto the ebay, and or pawn shops. Just don't lie to her about the origins.

[boefixepa]

Re: Need HELP..

Don't know were you are, but the college here has TONS of rings on the swap board. People get a little to excited or they brake it off and then have this ring they want to get rid of. So you could try there too. Personally as a single women I would want to pick the ring out myself. Many jewlers have rings they will let you borrow to pop the question with so it will be a surprise and then you bring her in later to choose the one she wants. Personally I hate the big rings and diamonds. I much perfer the small diamond anniversary rings, but that's just me. I would feel awful if I was stuck with some cluncker of an expensive ring, I'd never say anything because I wouldn't want to hurt his feelings, but something to keep in mind if you are not 100% sure what she wants. I have a funny feeling that's why so many sit by the sink........

[poundwise]

Re: Need HELP..


I think you are seeing that the consensus advice thus far is for you to not obtain additional credit to purchase a ring. Either buy one that you can afford now, wait and save, or find a temporary solution like an inexpensive symbol or no ring.

If you think that it is not romantic or whatever, think about how it sounds to 'give' a ring to someone when the truth is you are giving them something when, in essence, you are saying, "Yep. 23 more payments and that baby's all yours!" Not so great.

I asked my wife-to-be to marry me without a ring in hand. She didn't seem to mind at all. Soon after, I gave her a cheap ring with a promise to replace it with a better one later on. She loved the cheap one and didn't care about replacing it. We exchanged wedding bands when we were married and on our first anniversary I bought her a better 'engagement' ring. She hardly ever wears it and still has the cheap one. I'm pretty sure if you asked her, she would say the cheap one means more to her.

[zakity]

Re: Need HELP..

You could buy an affordable, pretty second-hand ring and then let her pick out her "real" ring. That way, she can pick out what she wants and she has a ring to wear at the moment.

[Ima saver]

Re: Need HELP..

I was asked to me married with out a ring. I would want to pick out my own. I have my mother's diamond rings that I wear occasionally. My husband bought me a diamond watch as an engagement present. I suggest you ask her first and ask what she wants to do about a ring. She might surprise you!

[Snoopy2645]

Re: Need HELP..

Well my dh put mine on layaway thats a thought or like others said do something else personally I am not a big fan of rings a nice watch or something would have been fine with me too or like others stated check pawn shops I bet you find something for 1/4 the price or less good luck & congrats!!!

[debtfreeme]

Re: Need HELP..

do it the old fashioned way by presenting her with either a ppromise ring and save up for a nicer ring or give her a watch or something similar and save together for what she and you want as a ring. If you have never talked about it perhaps she wants only 1 ring not two. Get a close female friend to ask her OR take he dream shopping and get an idea for what she wants.

[debtfreeme]

Re: Need HELP..

also look at stock overage shops. Often nice things there for not a lot of money. Do your research before you buy so that you know what is good and what is not. Becareful.