The thought of getting married to the love of your life can send a chill up your spine. Not only is this a memorable day in one’s life, but it is also life-transforming. No longer do you belong to the singles group. Hence, getting an ideal wedding ring is a call in the right direction. Kindly bear in mind this may be one of those few moments when you go all out on spending your money, apart from purchasing a car or a house.
Wedding rings are not there to make the fingers look beautiful – far from that. They bear several meanings, including eternal love, unity (oneness), commitment, and yes, beauty. Some year from now, you will come across this jewellery piece and remember the day you said, “Yes! I do,” and “Till death do us part.” For this reason, you should take your wedding ring shopping adventure seriously – this is not another day at McDonald’s.
Purchasing a Ring in Cash Vs Financing It
Shopping for the perfect wedding ring comes with two options – spending your money or sourcing funds. Purchasing this iconic piece of jewellery shouldn’t entail breaking the bank or emptying your wallet. There is life after the wedding. The last thing you want is to commence the marriage in debts. Some individuals believe that financing a wedding ring is the holy grail to their financial struggles, while others think otherwise.
In truth, if you have the money to purchase a wedding ring, go for it. You can plan by saving up for one. This option is better than being stuck in debt. But for those who don’t have the financial means, don’t press the panic button just yet. Finding the right jeweller may have you saved by the bell. What do I mean? Some jewellers provide 0% interest engagement ring financing . In other words, you will only be paying back the amount spent on the ring. Sounds interesting, right? But is that the way out?
Should You Opt for Engagement Ring Financing?
It is worth noting that 0% financing gives you the platform to own an engagement or wedding ring without paying interest. You can liken it to receiving money from your generous family members or friends to get a piece of jewellery and paying them back. However, save yourself the trouble of “borrowing to have a splendid wedding.” Those words don’t appeal to the ears.
No money is too small to save for a wedding ring. In truth, this jewellery should cost, at most, a three-month paycheck’s worth. As such, within three to six months, you should be able to afford one. With that, you can proceed with the remaining process, having a sense of peace and accomplishment. The only knocks you’ll get at the door are from your well-wishers.
Taking the First Step
As discussed before, financing should be the last option, and that’s before throwing in the towel of not proceeding with the wedding due to financial constraints. Till then, there is that one card left in your hand. And what is it? Having a budget. How much do you intend to spend on a wedding ring? If it’s a surprise, then you have the ball in your court. You call the shots on how much you are willing to spend.
On the other hand, if you’ve let your partner in on the good news, both of you are to come up with an ideal estimate. Whatever the plan is, the price of the ring should be within your financial reach. And guess what? There is always a ring for a specific budget. But if you have exhausted your financial capacity and think that engagement ring finance is the way to go, then set sail immediately.
Of course, you should have good credit. Get a jeweller that provides 0% interest loan for 12 months. Ensure that you pay off the debt within the time window, otherwise, you may be spending extra on high-interest fees.