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Engagement ring payments.
Even for the mathematically inclined it s difficult to know what kind of budget to set for an engagement ring.
If you re deciding how much to spend on an engagement ring there are several factors to consider.
Aside from houses and cars a diamond engagement ring is one of the largest purchases most people make in their lifetimes.
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If for example you are making 60 000 per year you should spend 10 000 on the engagement ring.
Of course the best option is to save until you can afford to pay for the ring with cash.
But your personal budget should depend on your current financial situation.
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Common financing options include in house financing through the jeweler store credit cards and lease to own programs.
Quick easy credit approvals with simple transparent terms.
If your eyes glaze over when it s time to talk wedding budget you re not alone.
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If you make 30 000 per year spend 5 000.
As with anything it s always best to save money ahead of time and pay cash for a modest engagement ring.
Engagement rings can be a significant investment but most jewelry stores offer some sort of financing program and many even have programs for those with less than perfect credit.
If you make 60 000 per year spend 10 000 on the engagement ring.
This helps you avoid buying a ring you can t afford and saves you from wasting money on interest.
When my boyfriend asked me whether i would prefer a ring or a house i instantly said house.
We are happy to assist you.
Special rate of 9 99 apr with 48 equal monthly payments 2 2 the diamonds direct credit card is issued by wells fargo bank n a.
While 5 900 is the national average cost of a ring the spend per couple varies.
An engagement ring is just one of the many important financial commitments.
The good news is it s easier than you think.
Enjoy 0 interest financing for up to 24 months on designer engagement rings wedding rings certified diamonds fine jewelry.
You should spend at least 2 months salary on the engagement ring.
Our study found that one third of all respondents are spending between 1 000 to 3 000 on their engagement ring.
But if that s not your situation you should know your options.
See below on how we debunk this theory.