FINANCING the ENGAGEMENT RING...

[aps45819]

That means we have a lot of people who cannot afford most things they have.

This is true.
The housing market is tanking (at least not growing) because folks couldn't afford their ARMs after a couple of interest rate increases

 

[kwillia]

That means we have a lot of people who cannot afford most things they have.

Yes, that is what that means. Techno makes a valid point. If you cannot afford to pay for something in full and you finance it, you are betting on future income. So are the financial institutions that lend the money. Just because you finance something doesn't mean you can afford it. It simply means you promise to come up with the money within a particular time period... and you are willing to pay extra out of your income to do so.

 

[Qurious]

I had to put both of her rings on lay away. I was just starting to make ok money but not enough to do an outright purchase. :shrug: Then again this was about 13-14 years ago.

Do you consider putting the purchase on a credit card as financing or are you talking about in store financing and the exorbinant rates they charge?

Anything your making payments on is financing....

I wish I found out my man put a ring on layaway - i'd dig in his ass

Making payments on a car & a house is something that is needed. Buying your chick a ring that you can't afford and have to make payments on is something you "want".

If you dont have enough money to buy the ring right out, then you can't afford it and shouldn't be getting her one. Nor should you even ask her to marry you cuz you can't afford to get married....the same goes for people who take out loans to pay for a wedding.

FOOLISHNESS!

 

[aps45819]

I would think that most people finance the ring. Unless the have an 3-10K stuffed in their pocket. :shrug:

Just get a CZ

 

[Speedy70]

But it is still financing. I know people who use credit cards just for the perks. :shrug:

I guess hubby and I are different. Back in my early 20's, I got in over my head with credit cards. Hubby hates to finance anything. We pay cash whenever possible.

 

[Lugnut]

Uhhhhhhhhhhh No.


Your thoughts?

AGREED!!!

I know two people that were married for 8 years and when they divorced they were STILL paying for their rings and wedding!

Loans are a tool to be used cautiously and with thought behind the tranaction. But most people don't view them that way.

 

[sockgirl77]

Anything your making payments on is financing....

I wish I found out my man put a ring on layaway - i'd dig in his ass

Making payments on a car & a house is something that is needed. Buying your chick a ring that you can't afford and have to make payments on is something you "want".

If you dont have enough money to buy the ring right out, then you can't afford it and shouldn't be getting her one. Nor should you even ask her to marry you cuz you can't afford to get married....the same goes for people who take out loans to pay for a wedding.

FOOLISHNESS!

I thought you liked girls. :shrug:

 

[kom526]

I wish I found out my man put a ring on layaway - i'd dig in his ass

Why?

 

[aps45819]

I wish I found out my man put a ring on layaway - i'd dig in his ass

Layaway is not the same. There's no finance charge or use of the item till it's paid in full.
You're placing it in reserve so it can't be sold to someone else.

 

[pixiegirl]

Yes, that is what that means. Techno makes a valid point. If you cannot afford to pay for something in full and you finance it, you are betting on future income. So are the financial institutions that lend the money. Just because you finance something doesn't mean you can afford it. It simply means you promise to come up with the money within a particular time period... and you are willing to pay extra out of your income to do so.

First of all to answer Q's question; I think it's no one's business other than who is actually buying the ring. No one has the right to tell anyone else how they should spend their money/future money.

To address those that say should shouldn't finance it because you can't afford it but see no problem financing a car or house and claim they're needed items. While true in part, we do need a home and transportation. I know very few people that get only what they need in both a car and a house. Do you need a/c? power windows? No, but you'll pay extra to get them.

Some stores/cards offer good perks that make financing ANYTHING a good idea. For example I know many creditors offer one year interest free. That's jewelry stores, furniture stores, etc. Why not then?

 

[Qurious]

Why?

Irresponsible.

Use that money towards our future home, business or investments.

PRIORITIES!!!!

 

[kwillia]

If you dont have enough money to buy the ring right out, then you can't afford it and shouldn't be getting her one. Nor should you even ask her to marry you cuz you can't afford to get married....the same goes for people who take out loans to pay for a wedding.

FOOLISHNESS!

It depends on what the couple wants for their relationship. In my case, we chose to get married young (low 20s), broke (both fully employed, but not much in the bank), and commited to building a successful life together. It was right for us. But others, such as yourself, may want a relationship later in life where both partners are already established. Different strokes for different folks.

 

[kom526]

Layaway is not the same. There's no finance charge or use of the item till it's paid in full.
You're placing it in reserve so it can't be sold to someone else.

BINGO!! WE HAVE A WINNAH!
Why pay 20-25% interest on something to have it now when you can have the shop hold it for you and pay original price?

 

[sockgirl77]

First of all to answer Q's question; I think it's no one's business other than who is actually buying the ring. No one has the right to tell anyone else how they should spend their money/future money.

To address those that say should shouldn't finance it because you can't afford it but see no problem financing a car or house and claim they're needed items. While true in part, we do need a home and transportation. I know very few people that get only what they need in both a car and a house. Do you need a/c? power windows? No, but you'll pay extra to get them.

Some stores/cards offer good perks that make financing ANYTHING a good idea. For example I know many creditors offer one year interest free. That's jewelry stores, furniture stores, etc. Why not then?

In other words, Pixie wants a rock.

 

[mv_princess]

Why does it bother you what other people do with their money?

 

[Qurious]

Layaway is not the same. There's no finance charge or use of the item till it's paid in full.
You're placing it in reserve so it can't be sold to someone else.

Layaway for some is because they can't afford it, has nothing to do with putting something on hold.

Now that Wal-Mart is done with layaways....whats a man to do then??

 

[kom526]

Irresponsible.

Use that money towards our future home, business or investments.

PRIORITIES!!!!

So you are saying that you would not want a ring at all then?

 

[Qurious]

Why does it bother you what other people do with their money?

who said it bothered me? Its a topic of discussion....

 

[Qurious]

So you are saying that you would not want a ring at all then?

Is that all you got from my statement?

 

[pixiegirl]

In other words, Pixie wants a rock.

Pixie had a rock and gave it back. The point was it was our money to do what we wanted with. We had a house and two paid off vehicles. Had anyone tried to butt in with their two pennies worth about how my ring was paid for I'd of told them to shove it. That was no one's business but ours; period.