Choosing The Perfect Wedding Ring
Now that weve waded through the intricacies of finances and budgeting for a ring, lets get to the fun part: picking the rings.
Whether you have an exact ring in mind or just a vague idea of what you like, create a separate must-have list of qualities for the rings themselves. Continue to compare and contrast these two documents as you get closer to your purchase dateand big day.
If youre a little lost as to what exactly you want in a ring, ask yourself the following questions:
How will your ring fit into your lifestyle? Some people keep their jewelry on when they hit the gym, pool, or shower. If you plan to wear your wedding band day in and day out, you may want to choose rings that are made with more practical materials such as palladium, titanium, tungsten, or silicon, so that you can demonstrate your love without damaging your ring.
Which ring style speaks to you? Study up on the different available ring styles. Even if you arent sure what the exact terminology is for a certain style and setting, or even why you’re drawn to it, youll have an easier time communicating at the jewelry store if you know what gives you that warm, exciting feeling. Some popular styles include vintage Art Deco and mixed metals, and settings range from infinity setting to a solitaire setting.
Zola tip: Before your appointment, browse Zolas extensive line-up of wedding bands. You can search based on material, brand, color, and price to get a better sense of what you love .
Round Brilliant 14kt White Gold Ring
You dont need to shell out a minimum of $1,000 to dazzle and delight your bride-to-be. The Round Brilliant 0.44 ctw VS2 Clarity, I Color Diamond 14kt White Gold Ring at Costco retails for just $700. One of Costcos least expensive choices, this heart-shaped ring is none too shabby, boasting 45 individual diamonds. Other heart-shaped rings cost quite a lot more and dont give off the same big bling energy. Consider theres a similar ring from Zales that goes for $3,599.99 on sale. It simply doesnt pack as lustrous a punch.
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Check Out Online Retailers Vs Brick And Mortar Stores
Because online jewelry retailers dont have to pay for traditional brick-and-mortar stores, they can offer lower prices. They also usually have larger selections to choose from. If you want to explore an online retailer, make a virtual appointment so you can meet with your jeweler in a virtual showroom and see rings in a super fun atmosphere.
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Does Zales Finance Bad Credit
Zales is a jewelry store thats been around since 1924. It offers a Lease Purchase Program in which you can take home your engagement ring after its paid off. You can also complete an early buyout option.
The Lease Purchase Program is administered through Progressive Leasing and is a good option if you have no credit or bad credit.
To be eligible for the Lease Purchase Program, you must be at least 18 years old with a Social Security number, an active checking account, and an active credit or debit card. You can apply online for an instant decision and visit a nearby Zales store to finalize your lease. You can choose from flexible weekly, biweekly, or monthly payment options.
Zales also offers the Diamond Credit Card, but you need fair or good credit to qualify. The Diamond Credit Card comes with exclusive offers, including coupons, jewelry inspection reminders, and cleaning reminders via email throughout the year. This allows you to get your ring before you pay it off, but its only available with approved credit.
Kt Rose Gold & White Gold Ring
The Round Brilliant 1.00 ctw VS2 Clarity, I Color Diamond 18kt Rose Gold & White Gold Rose Ring sells for $2,799.99 and is definitely on the sweeter, more feminine side of Costcos offerings. Sporting an astonishing amount of diamonds , this dainty ring in the design of a flower replete with rose gold detailing is significantly cheaper than other rose gold baubles for instance, a rose gold-cushioned diamond ring at James Allen costs more than $16,000.
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Is There A Right Budget For An Engagement Ring
Before you start binging all the articles out there saying that an engagement ring should cost you anywhere between one to three monthsâ paychecks, remember: how much you want to spend is a personal choice between you and your partner. Many couples choose to allocate funds to other big things, like their wedding ceremony or a down payment on a house!
In recent years, most couples have typically spent anywhere between $1,000-$5,000. Thatâs a huge range to work with! Whether you buy a ring from a jewelry store or an online retailer makes a difference too you can often get just as good quality stones online for cheaper.
And if youâre wondering whether to opt for a diamond or not? Donât sweat itânow more than ever, couples are making alternative choices that reflect their personalities and values. Consider a different stone! Emeralds, moissanite, and sapphires are just as beautiful and timeless, and theyâre growing in popularity right now.
How Much Can You Afford
The first step in buying an engagement ring is setting your budget. It’s a personal choice. It should not be influenced by things like the “two months’ rule” or the national average.
Start by being honest with yourself. Factors you should consider when determining your ring budget include:
- Your income: Obvious, but still worth mentioning.
Most of us are getting married when we’re still figuring out our finances. We’re still paying off student loans, saving for a house, and haven’t reached our full earning potential. An engagement ring is just one of the many important financial commitments.
Of course, the best option is to save until you can afford to pay for the ring with cash. But if that’s not your situation, you should know your options.
Meghan Brumbley, owner and lead planner of DC Engaged
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Use A Credit Card With Zero Percent Interest
You could also use a non-jeweler credit card that offers a zero percent interest rate. Lots of issuers offer introductory rates of zero percent for a period of time. So do your research to see what offers are available. Again, you want to pay attention to the terms being offered before you sign on the dotted line.
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Tips For Buying An Engagement Ring
Consider the pros and cons of engagement ring finance options, and remember that after the engagement ring comes wedding expenses. It may be a good idea to talk through engagement ring options with your partner prior to a proposal, especially if youre already sharing your finances. While it may not feel as spontaneous, talking through big purchases that mutually affect you may be good practice for combining your lives. Having these conversations can set the stage for your wedding and your lives together, including whether borrowing money for your wedding is the best option for your financial situation and goals.
Other tips for buying an engagement ring:
Ask your partner what they want. Also, talk to your family and their family: A relative may have heirloom jewelry theyd like to pass down.
Browse together. In addition to looking at jewelry stores, consider estate sales, antique stores, and browsing online to get a sense of styles and prices.
Negotiate. Some jewelers may offer a discount if you pay in cash.
Remember ring insurance. An engagement ring may not be covered under your homeowners policy without an added rider to the policy or may be covered only in specific circumstances. Research insurance policies before you buy the ring.
Average Costs Of Engagement Rings And Wedding Bands
Did you know the average cost of an engagement ring these days is about $5,500? Keep in mind that this cost doesnt include the wedding bands. The average cost of wedding bands for both the bride and groom is a little over $1900. So once you add the cost of the bands, youre really getting up there in the amount of money you may end up spending on rings. For many, thinking about this amount of money, makes financing for an engagement ring seem attractive.
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How To Finance An Engagement Ring In 2021
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When youre about to pop the question, your finances may not be the first thing on your mind but they might be the second. Engagement rings and the weddings that follow are among lifes priciest purchases, so starting on the right foot is key.
The average cost for an engagement ring in 2020 was $5,500, according to wedding website The Knot. The cheapest way to pay for a ring is with savings, but if you havent saved up or youre reserving your savings for the big day, here are engagement ring financing options to help cover the cost.
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Wells Fargo Financing: Engagement Rings Wedding Rings And Jewelry
To apply, please click the Apply Now button below. Providing the information in the fields below is optional. The information provided in the fields below will be for Brilliant Earth purposes only, will not be shared with Wells Fargo, and will not impact a credit decision in any way. Please note that by clicking Apply Now, you will be leaving the Brilliant Earth site.
*The Wells Fargo Jewelry Advantage® credit card is issued by Wells Fargo Bank, N.A. Special terms apply to qualifying purchases charged with approved credit. Minimum monthly payments are required during the promotional period. Interest will be charged to your account from the purchase date at the APR for Purchases if the purchase balance is not paid in full within the promotional period. Paying only the minimum monthly payment will not pay off the purchase balance before the end of the promotional period. For new accounts, the APR for Purchases is 28.99%. If you are charged interest in any billing cycle, the minimum interest charge will be $1.00. This information is accurate as of March 19, 2020 and is subject to change.
Find A Jeweler That Offers Zero Percent Interest For Financing A Ring
When financing an engagement ring focus on finding a jeweler that offers a great deal on financing – as in zero percent! There are jewelers that have their own in-house financing options that offer zero-percent financing. Some may require a minimum purchase amount and some require you to make a cash down payment.
It’s important to know that the zero percent rate may only be in effect for a certain period of time. For instance 12 months. So be sure you read and understand the terms and conditions so you know what youre getting into.
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Can You Finance A Wedding Ring
- Post author
Can you finance a wedding ring? Most people dont think to even ask this question before dismissing the cost of their dream wedding ring or engagement ring. But the short answer is yes. In fact, the vast majority of wedding rings we sell have some kind of financing involved.
A wedding ring, to a lesser degree than an engagement ring, is still expensive. Even if its only $600 $800 thats still a big chunk of money for most couples. Add to this the cost of a second wedding ring yes, you both need one and you could easily rack up a $1000- $2000 bill, even with simple, gold bands. So whats a young couple to do? Finance.
If youre asking Can you finance a wedding ring? immediately followed by Why would you? we want to clarify that while financing is a useful tool that were happy to help our couples employ, we dont want to sell you a ring you cant afford.
This is why we offer several financing specials throughout the year, promoting the availability of no money down, 0% interest purchases for certain periods of time. Whether its 6 months, a year, or even five years of no interest we always impress upon our RLJ & DBRL couples how important it is that you pay off your ring in full before that interest kicks in. Otherwise youll be hit with a high interest rate and the interest on whatever you still havent paid off of your ring.
Select The Right Affordable Engagement Ring Loan
Apply now for your unsecured loan. You neednt be a homeowner, or list any other property as collateral. In addition, since the loans are fixed rate, your payment amount will never change, so you can better predict your monthly expenses. Join us.
Does my credit score affect my loan?
Yes. If you are sure you have bad credit, you may want to consider improving it before you apply. If you are not sure if youd qualify, we can help you find out now, for free, with no obligation.
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