Two months salary question

[mrssalvo]

I like John''s advice from earlier in this thread;


"spend what you have and have what you spend"

there are no rules. A good place to start might be finding out what type of ring your GF would like? Many women like the magic 1 carat mark, some don''t care, each gal is different. But, if you know she really wants a 1 carat, you can start seaching and get a good idea of the cost and determine if it''s workable in your budget or not..

 

[Zeppelin]

I already know what I want as far as three of the C''s.

I''m going to get a G/H and a VS2 and an Ideal Round Brilliant with an HCA of Excellent.

I''m pretty much just trying to decide between stones that are 0.81ct, 0.90ct, 0.99ct, and 1.07ct. The prices range from $3790 to $6560. I have about $10k to my name right now, so I can afford all of them, but I still need to consider what I will be left with....this is complicated by the fact that I am currently between jobs. I start my new job in 3 weeks. I was kinda wanting to pop the question before I start, but part of me also would rather wait for my first few paychecks and the signing bonus to come through.

 

[mrssalvo]

Date: 2/23/2006 5:56:37 PM
Author: Zeppelin
I already know what I want as far as three of the C''s.


I''m going to get a G/H and a VS2 and an Ideal Round Brilliant with an HCA of Excellent.


I''m pretty much just trying to decide between stones that are 0.81ct, 0.90ct, 0.99ct, and 1.07ct. The prices range from $3790 to $6560. I have about $10k to my name right now, so I can afford all of them, but I still need to consider what I will be left with....this is complicated by the fact that I am currently between jobs. I start my new job in 3 weeks. I was kinda wanting to pop the question before I start, but part of me also would rather wait for my first few paychecks and the signing bonus to come through.

If you were my BF, I would rather you wait until you got back on your feet and got a few paychecks. I would feel horrible if my hubby would have spent thousands of dollars while inbetween jobs. Once you get going in your second job, I''d vote for the 1.07

 

[Capitol Bill]

Re: Two-months'' salary

I cringe when I hear a client refer to this old canard.

Like any other slick marketing concept, this was dreamed up out of thin air. Choosing a diamond to fit your budget is a very personal issue that everyone has to decide for themselves. What''s right for a Wall Street executive can''t also be right for a cash-poor student.

It''s best to keep in mind why you''re buying the diamond in the first place. As already mentioned above, a diamond is not a measure of love; it''s merely a token of love. It''s absurd to think that a more expensive diamond means you love somebody more (except if you''re Kobe Bryant!).

A few of the greatest engagement diamonds I''ve ever seen were relatively small, and set in plain-looking rings. These diamonds were not necessarily beautiful because of their size or quality, but rather because they were worn with great pride by women who have been married since they were much younger, perhaps at a time when the couple had no money for such things. And even though they now have plenty of money to own a big diamond (and some of them do -- as pendants and "cocktail" rings), they''d never think of parting with the one they''ve worn ever since they decided to say "Yes!" to the man they''ve been with for almost their entire adult lives.

Just food for thought.

Kind regards,
Bill

 

[firebirdgold]

Date: 2/23/2006 5:23:43 PM
Author: Zeppelin

BTW, as far as the ''price of your car'' analogy. I would suggest something more along the lines of 1/5 of the car''s new cost might be more fair. That way a person driving the $80k Porsche is still dropping around $16k for the ring...which can buy some really nice rings (understatement). But, mere mortals that drive cars that cost 20-30k would be advised to spend $4-6k.


I don''t think I buy into any of the ''guidelines,'' though.


I also have no clue how much I should spend.

I like your 1/5 idea.

I''ve been really thinking about it, and it seems to me that the real crux of the matter it that the e-ring is a combination of effort and sacrifice. My mother still gushes how my father scrubed pots in college to afford to buy her a ''perfect'' (D, IF) .5 carat stone in a ring he designed himself.
My current personal feeling is that (in most cases) the budget for her e-ring should cause some temporary readjusment. In other words, at some point you should think ''well I could buy this for myself, or I could save that money for the ring''. It''s (or has become to many women) a symbol that at least occasionally you''ll put her first. It is never about the figure, just the emotion.

I should add though, that if my mother mentions that story one more time I will commit matricide!

 

[diamondseeker2006]

Date: 2/23/2006 5:56:37 PM
Author: Zeppelin
I already know what I want as far as three of the C''s.

I''m going to get a G/H and a VS2 and an Ideal Round Brilliant with an HCA of Excellent.

I''m pretty much just trying to decide between stones that are 0.81ct, 0.90ct, 0.99ct, and 1.07ct. The prices range from $3790 to $6560. I have about $10k to my name right now, so I can afford all of them, but I still need to consider what I will be left with....this is complicated by the fact that I am currently between jobs. I start my new job in 3 weeks. I was kinda wanting to pop the question before I start, but part of me also would rather wait for my first few paychecks and the signing bonus to come through.

You are off to a good start with your parameters! I''d go with the 1.07 as well, as long as the new job is a sure thing! And maybe at least start the job before giving her the ring. It''ll make her parents feel better anyway. I will say, though, if the .99 is significantly less than the 1.07, it might be a great value and very little difference in size if you feel like being more conservative with the amount spent.

It sure is fun helping people spend their money!

 

[E B]

Date: 2/23/2006 6:12:15 PM
Author: diamondseeker2006

You are off to a good start with your parameters! I'd go with the 1.07 as well, as long as the new job is a sure thing! And maybe at least start the job before giving her the ring. It'll make her parents feel better anyway. I will say, though, if the .99 is significantly less than the 1.07, it might be a great value and very little difference in size if you feel like being more conservative with the amount spent.

It sure is fun helping people spend their money!

I agree...if the .99 is significantly less than the 1.07, go for the .99!

 

[firebirdgold]

I gotta agree, go for the .99 if there''s a decent sized price difference. As long as the stone isn''t cut deep, the face up difference will be unnoticable. And you can spend a little extra on the setting!

 

[Nifergirl7997]

I would be terrified to wear a ring costing two month''s of Paul''s salary, and he''s a teacher!!

The whole "two month salary" thing has gone nuts in the media. From my own loop of friends, none of us have gotten a ring costing two month''s salary. There are other things to consider in the making of a marriage, of a lifetime together, than simply listening to media blurbs...

Get something that means something to both of you, and don''t go to the poor house in the process!

 

[colors!]

I find this topic interesting, since we''re looking right now. Also my bf is a bit older and up the career ladder so 2 months is a lot.
I haven''t heard this reason for going smaller yet, but a consideration for me is that we travel alot. Mexico being one of my favorite destinations (real Mexico, not just beaches).
I''d like to wear my ring most of the time and not be too flashy. Don''t get me wrong, I love sparklies, but practicality wins on this one.
Plus I will always choose travel over jewelry and he does not skimp in that area.
My 2c

 

[monarch64]

So Zeppelin, I have to ask you, how do you feel about upgrades? If this is the diamond you (and she) want her to have for the rest of your lives, I would say go with the most you can afford (the 1.07), after you''ve been at your new job for a bit. If you''re open to the upgrade idea, and can''t stand the thought of waiting any longer to propose, I think the .81 would be fine for now, and then you''d have a little extra "cushion" in your bank account for any unexpected expenses.

 

[Nifergirl7997]

I just bought an e-ring last month. I also struggled with the 2 month salary thing...I am fortunate enough to make a fairly good living and for me, this amount would equal a new BMW...which was too much for me to swallow. So, I know this may sound ridiculous but I''ve come up with my own rule (which I''ve circulated around the office and many of my women co-workers have adopted to a certain degree).
My rule would be that you spend 50% of what your car costs. My rationale is this...if you drive a $80,000 Porsche, it doesn''t matter what you make...you are either making a salary that affords you such a car or you are so concerned with your image that you are willing to go into debt to have that car. Either way, if you come up with a $5,000 ring, I believe your fiance'' will feel unappreciated....that you are willing to spend exponentially more on a car you can afford or that the image your car provides is more important than the e-ring that is supposed to represent your love for her. In this case, you should buy a very substantial ring ($40K). On the other hand, if you have a $4,000 Dodge Colt, then you either have a respectable working class income or you may have a very high salary, but you place little importance on material possessions that are often construed as extensions of your ego or image. Either way, if you come up with a $2,000 ring, your finance'' should understand your choice.


I adhered this rule and we are both happy with the e-ring I bought.


***
Haha... I like that theory. Only thing is, both of us own older cars and are dredding when either of us has to start all over again with payments. Both our cars are still very reliable and all that, so we''re happy for the moment. So, should we go with what his car cost to begin with, or what it''s worth now? Hee hee... what it''s worth now wouldn''t require saving at ALL!

 

[Zeppelin]

Date: 2/23/2006 6:19:03 PM
Author: Wren
I gotta agree, go for the .99 if there''s a decent sized price difference. As long as the stone isn''t cut deep, the face up difference will be unnoticable. And you can spend a little extra on the setting!

The 0.99 is $5500. It is an excellent on the HCA for all four parameters (even spread, which is rare). The depth is 60.2%, which I don''t think is too deep, right? The only negatives for this stone are really the fact that it''s only got "good" polish and "very good" symmetry. But, I seem to have read several places that the polish/symmetry specs are very hard to discern with the naked eye. It''s also a GIA stone instead of an AGS stone, but I guess that''s not a biggie.

The 1.07 is $1000 more ($6555). It''s an AGS with ideal polish and symmetry. It''s an ACA, while the 0.99 stone is an ES. Both are ideal cut RB.

 

[Zeppelin]

Date: 2/23/2006 6:51:57 PM
Author: monarch64
So Zeppelin, I have to ask you, how do you feel about upgrades? If this is the diamond you (and she) want her to have for the rest of your lives, I would say go with the most you can afford (the 1.07), after you''ve been at your new job for a bit. If you''re open to the upgrade idea, and can''t stand the thought of waiting any longer to propose, I think the .81 would be fine for now, and then you''d have a little extra ''cushion'' in your bank account for any unexpected expenses.

I like the notion of buying a stone from a place that allows upgrades/trade-ins, but on the other hand, I really don''t ever plan to take advantage of that. I know that is odd. I guess I like what it says about the vendor that they will accept a trade-in, even if I never plan to use the service.

I really want to buy the stone once, and I want it to be the stone she wears forever. That is what causes me to want to splurge a little more for the bigger stone (the 1.07). I will likely be fairly successful someday and want to always look at that stone and feel proud of it (which I could do with a 1.07 for sure). Even if I won the lottery next week, I probably still wouldn''t buy anything over about 1.25 or so. That''s just my personal taste. 1.5 is maybe OK, but that''s definitely my upper limit. But, the stones between 1.1 and 1.5 are DEFINITELY out of my budget right now.

So, an 0.8ct stone....I would probably look back on that 20 years from now and be like "well, I wish I could have bought her a slightly bigger stone," but I couldn''t afford it at the time...and I guess that''s something I really don''t want to do....

So I guess I"m leaning more towards the 0.9, the 0.99, and the 1.07.

 

[hoorray]

You seem to have a good selection of stones which have a big price range. Me thinks there is more to the differences in the stones than what you have told us cut nuts. Why don''t you start a new thread, list the specs of the stones you are considering (including price and all the cut details and pictures you may have) and the people here will help you sort through the price/performance trade offs of the stones you are considering. You might get some different perspectives...

 

[firebirdgold]

Date: 2/23/2006 8:08:17 PM
Author: Zeppelin


The 1.07 is $1000 more ($6555). It''s an AGS with ideal polish and symmetry. It''s an ACA, while the 0.99 stone is an ES. Both are ideal cut RB.

Well, I''m no expert. But in that case I would go with the 1.07, particularly since you will not be upgrading. I''ve heard really good things about ACA and I''ve also heard that the better the polish is on a diamond the less dirt sticks to it. (There''s something about diamond''s molecular structure that attracts oils to it''s surface.) So basically not only will it be sparklier, but it will stay sparklier for longer.

 

[Zeppelin]

Date: 2/23/2006 9:02:53 PM
Author: lop
You seem to have a good selection of stones which have a big price range. Me thinks there is more to the differences in the stones than what you have told us cut nuts. Why don''t you start a new thread, list the specs of the stones you are considering (including price and all the cut details and pictures you may have) and the people here will help you sort through the price/performance trade offs of the stones you are considering. You might get some different perspectives...

For reference, I started the thread you requested here: https://www.pricescope.com/community/threads/zeppelins-pick-a-diamond-thread-4-to-choose-from.40825/

 

[Waited2Long]

Date: 2/23/2006 6:56:18 PM
Author: Nifergirl7997


Haha... I like that theory. Only thing is, both of us own older cars and are dredding when either of us has to start all over again with payments. Both our cars are still very reliable and all that, so we''re happy for the moment. So, should we go with what his car cost to begin with, or what it''s worth now? Hee hee... what it''s worth now wouldn''t require saving at ALL!

I''m with you. I don''t see that there should be any connection between what you drive and the ring you wear. If I followed the 50% car cost rule, I could have bought half the setting I did--with no stone. Spending is limited by income, but how goods are valued will differ for everyone. To me, the ring was a lot more valuable than the cars I drive. I didn''t meet the 2-months salary criteria either.
I think Capitol Bill''s anecdote was perfect.

 

[flower12]

Debeeras had marketing 3 month salary campaign in the Japan
since then ,avarage japanese couple least spend 3 month salary for E-ring.
even thought it''s just marketing

 

[NewDiamondMan]

I also struggled with this question for sometime as well - so you are not alone! I would agree with everyone who said that the two month''s notion is a guideline, but by no means a rule.

I went about setting my budget after taking into consideration what I make for a two month period and how long it would take me to recover that money given that I have a mortgage, car payments, student loans, etc. If setting a huge budget will require you an excessively long time to recover this savings, then move towards a cheaper budget. I think realistically you need to take into consideration not only what you make for an approximate two month period, but how many debts you have, how much you have saved, if you are saving for something else (wedding, a house, etc.), and how long it will take you to re-save that money. Spending 10K on a ring that will not enable you to have the wedding you want (if you are paying for it) defeats the purpose.

Plus, just based on reading threads here, it seems a lot of people upgrade later...so you can surprise her on your 10 year anniversary with a huge new rock! Best of luck to you.

 

[sydneycasandra]

I think it''s great you''re giving this some real thought. Personally, I''d go with the 0.99 and spend the extra thousand to get a fabulous setting- even a beautiful diamond sometimes looks "cheap" when it''s in a bad setting.

PLEASE, PLEASE, PLEASE- make sure to pick out a setting that you think your GF would like. (Or one you KNOW she will.) Or just propose with the diamond (perhaps in a very inexpensive setting or pendant so she can still show it off?) and go shopping together. Too many girls with well-meaning boyfriends end up with the ring of HIS (or in some cases, his mother''s!) dreams. Not a good way to start.

How much money you spend is really a matter of personal preference- my fiance dropped just over 24 months worth of salary on my ring (don''t choke just yet), but he''s a part-time employee, full-time student who dug into his retirement account. So it wasn''t really that much, considering the circumstances that the had a job before and will graduate and start getting thick paychecks again. We also decided that the money was much better spent on a beautiful ring than a wedding, but that is only a personal preference.

Good luck!

 

[ladykemma]

how much to spend?
two months salary thing is insane unless you are bill gates

depends on your current indebtedness, mortgage situation, student loans, etc.

when we got married, we were just starting out Hubby bought me an ideal cut quarter carat and a house.

 

[Nifergirl7997]

Yeah, for me, I''d rather us be able to look into houses than to have a fat ring on my finger. However, if it was less than 400 dollars, I''d be disappointed. Much over a thousand, and I''d be nervous to wear it. And well, that''s much less than what would be two months salary.