Paying for an engagement ring

mustiuc

When you buy expensive items you need to think about their value in time and or is worth paying all those money or not. When I was looking for a ring (nov-dec2017) i couldn't find to much for 18k and diamond on it. Too expensive..poor quality and many many shops offering rubbish offers/certificates. When you pay more than 1k for a ring everything need to be quite ok. I struggled for more than two months to find something reasonable for money and in the end I choose this one...because nothing else was better and paid 1270 (my budget was 1000 but i noticed soon is not enough) with 5yrs warranty and .35stone instead of .25
http://www.hsamuel.co.uk/webstore/d/4597850/18ct+Gold+1/4+Carat+Forever+Diamond+Ring/?crosssell=filter

Those money I've made them in two months taking another job strictly for this occasion to dont spend it from savings/wages. So if you want to spend much make sure you afford it.
Second, it doesn't matter how much you spend (if you have money), i saw some rings @2k so nice but I knew I can't pay more (she was quite shocked when she find out the price and asked me immediately "how much money we have left" without knowing I saved separately for it).
After my experience, if I would have 4k budget instead of 1k I will buy a "cheap" ring worth no more than 1.500 and plan a holiday somewhere to propose her. You will do by this two things in one and be remembered for all life.

I dont know whose idea was to buy a 4k ring. If it was yours it means u care and value her much more than you think but if she had specific demands which ended finding a ring worth 4.5k, than I don't know what else to say.
My fiancee was waiting her ring for so long that everytime we were in town she was showing me rings @150 saying it doesn't matter the value of it, she just want it on her finger. But i knew she likes 18k gold and I wanted to make an effort because she deserve it.

Good luck

sparkey1

How urgent is it. Can you delay purchasing until the jan sales!

Dobbibill

Hi OP - welcome to the forum.

Congrats on your soon-to-be engagement.

Using a CC gives you S75 cover.

You can also choose whether to pay off immediately or over a longer period of time while your savings earn you interest.

You may find with no previous history that the limit may not be enough to put it all on the CC - you won't know until you apply.

Have you tried the eligibility checker to see the likelihood (although it's not guaranteed, it gives you an idea).

All the best.

[Deleted User]

Hi,


wow, :eek:, £4500 on an engagement ring, money don't buy you love.



I presume, if engagement goes well, you might wish to buy a house eventually, so cut the spend on ring and think of your future.

Paul_DNAP

pmartin86 wrote: »

It's posts like this that make me less and less inclinded to visit this forum...Op has saved up and wants to spend it, who the !!!! are you to question it?

To be fair though, they have posted up in the forum on a (the?) "money saving" website, and one of the stronger pillars of a money saving attitude is to stop and think "do I really need to spend that much money on this item?" and as such it is a valid point to make within the wider context of this website.

Twillyson

lisyloo wrote: »

Personally I think off topic responses are sometimes valuable (and sometimes not).
If people ask for free advice then they should be prepared for the fact that it may not be on their terms.


Of course the OP can do what they want both with the ring and the comments, but if you ask strangers for advice for free then they might not respond on your terms. As long as it's polite and broadly relevant I don't see the issue with people raising questions about what they've been asked. It's free speech (within limits).

Thanks for the comments all, much appreciated. For those commenting on the value of the ring, I understand where you are coming from (particularly in that this is a money-saving forum) but I have put a lot of thought and research into what I'd like and this is a realistic expectation of how much it is likely to end up costing. Obviously if I can find what I want cheaper than I'm not fixed to that budget - I'll be buying from a reputable business in Hatton Gardens with a lower mark up than most retailers.

For those suggesting it would be better put towards a house, we've already bought a house together 2 years ago and have a very manageable mortgage. We've been together over a decade and I have no concerns over our long term future. I'm by no means rolling in it, but I have set this money aside specifically for an engagement ring, and I have other savings for other planned (and unplanned!) expenses, so whilst I appreciate your intentions, the amount shouldn't be a concern.

I haven't spoken to my bank yet - that will be my next port of call, but I wanted to go into it with a better understanding of my options. There is no particular reason I haven't had a credit card before, other than I haven't needed one. I did look at the Amex cashback card for this purchase but shared the concern that not all jewellers would take it. It sounds as though the 0% purchase card may be my best option, so I'll have a shop around and see what's available to me. Thanks again

Robin9

When my wife and I got engaged she said " I suppose we need to go shopping for a ring"

Edit - we also set date when she said "yes" - engaged in May, married in October (the same year ! ) - I don't understand why couples who have lived together for years need a date 2 or 3 years in the future. My local church takes bookings 2 years in the future only to find cancellation rates of 20%

lisyloo

There is no particular reason I haven't had a credit card before, other than I haven't needed one.

Its worthwhile having one.
Companies do sometimes go out of business and you get protection.
If I can I put £1 on a credt card for holidays which gives me the cover and pay the rest by debit card to avoid the charges.
The card company are jointly liable so it can also help you if you have a dispute with a retailer.


Definitely worthwhile for larger purchases aournd the time of the wedding, but also useful for smaller purchases as well (I got £20 back when peacocks went bust).


I like my Amazon card because although it's not the highest percentage I get my rewards quickly in a format I'm very likely to use (unlike say airmiles which I find harder to use).
As you are coming up to a high spending period, you could get an Amex and one other (visa/mastercard).
Which rewards are best for you varies.
Amex also do a card with a high number of airmiles (gold one I think).