Determining annual bling budget...how do you do it?

[anners11]

Hi! So I'm fairly new to the world of bling and have just started my collection in the last 1-2 years. However, in a little over a year I've made quite a dent in my wish list. My purchases so far: 2mm plain 14k RG band, Vintage Cartier trinity, 0.84ct ST OEC in 9k RG repro setting, approx 1cttw OEC studs, a funky little 0.5ct loose marquise that I plan to use in a dbty style bracelet and my recent splurges are a 1ct MRB in Sholdt RG setting and 0.5ct MRB RG barbara pendant from BGD. The last 2 should be done next week!

I have a few more pieces that I'd like to acquire for my core collection, mostly a few white gold or platinum pieces. I'm realizing very quickly that I need to put myself on a budget. Badly.

So do you have a budget for your bling? How do you come up with the number? Is it done piece by piece or do you have a yearly budget? And most importantly....do you stick to it?!?

I have a bling problem and I blame pricescope!

 

[justginger]

I'm no better than you - buy, buy, buy! I blame Enerchi.

Seriously though, I do tend to buy until my bank balance gets to a certain point, and then I make myself stop. Just completely stop. That's where I am now - bloody uni fees are putting a serious dent in my income and disposable bling funds.

Oh... never mind... I haven't actually stopped. I've just forgotten a recent pricey purchase. Must be selective bling memory at work!

No really - after this stone arrives I'm done for a while. Unless I sell something else, of course.

 

[Smith1942]

Well, due to price rises and tax rises I pretty much bought everything I wanted all at once, and then some. (The "some" included things like a handmade 18k Art Deco-style diamond fan-shaped pendant with a 2ct teardrop aquamarine that I didn't know I wanted. But I saw it, loved it, and then it turned out to be a total steal to boot at 625 pounds/954 dollars, so I got it even though it wasn't on the original list. I don't wear it every day. It's good for when I need to impress. I received excellent service in the diamond salon of the Boston Tiffany recently, and I saw the salesman - who is known to be a bit snotty - eyeing up the pendant.)

But I had a plan. I first started collecting jewellery when I worked in the travel industry 12 years ago. Gems and metals were SO cheap back then, relatively speaking, compared to now. It is frightening how much they've shot up since then, absolutely frightening. So I bought everything I wanted as quickly as I could. There are only two items left, and then my core collection is complete. Not to say I'll never buy again if I see something I love and that is a true bargain, but I've completed the vast majority of my jewellery-buying well before forty with pretty much everything I'll ever need. I specifically don't want to buy jewellery over the next 40-odd years.

So, provided you can afford it, I would get everything you can, while you can, within your means. Prices are going up. Taxes have a habit of going up. If I were collecting now, I would probably make cutbacks in order to get things now instead of later.

However, this is just my personal psychology. It may not be the right approach for you. Other people are more laid-back and happy to spread it out, happy at the thought of happening upon bargains at the right time over the next few years.

But I was like a heat-seeking missile about it, and I've been rewarded with some wonderful bargains. The thought of the future price rises is just too much for me - I don't want to pay a penny more than I have to for my treasures, so I bought now in order to avoid paying the price rises of the future. Therefore, I have no annual bling budget. But that's just me!

 

[SB621]

I don't like the word budget if I can help it. I think of it like the word diet . As long as I'm not going into debt, money is still going into retirement / 529 plans for the kids then I personally like to spend my funny money. I'll go months without buying anything and then I will buy some BIG things all in a span of 6 months. As someone already mentioned I have a pretty detailed list of what I want and at this point everything big is purchased. I'm just setting a few things or buying an occasional item that I find at a great deal.

With prices increasing like they have and with the higher demand of art deco setting/ antique diamonds going up I have been able to justify some of my purchases. DH has said no to many but the ones I really want he/ we have had no issues with getting so far. So to sum up. You just need to find a happy place with what you are comfortable spending.

 

[diamondringlover]

My budget is easy to set, it is 0.00 lol I cant afford to buy bling and I envy all that can

 

[Circe]

We usually have a baseline of around $500 per special occasion. It's an arbitrary figure based on what we feel comfortable splurging on. Less than that, and we'd probably just get the whatevers for ourselves. When I find things I love, though, I'm happy to combine and get one "big" thing instead of several smaller ones. Beyond that, it's generally dependent on "extra" money - additional sums for articles I'm publishing on top of what I earn teaching, my husband's annual bonus, that sort of thing ... like the dictionary definition of discretionary spending.

Aside from that, I'm currently still reveling in the discovery of the Pre-Loved section: it's like being a magician! I can turn all the X pieces I never wear into the Y pieces that I do! It's just that for my initial foray, I did it backwards and bought the thing I loved first. Je regrette rien!

 

[SB621]

Aside from that, I'm currently still reveling in the discovery of the Pre-Loved section: it's like being a magician! I can turn all the X pieces I never wear into the Y pieces that I do! It's just that for my initial foray, I did it backwards and bought the thing I loved first. Je regrette rien!

Preach on sister! Some of my favorite new stuff is from the pre-loved forum. I am, and will forever more, be kicking myself for not buying that ruby and diamond edwardian ring you got. Oh please just let me try it on once, perhaps that will sooth the beast inside of me. Where is the stupid hashtag for the #theonethatgotaway!!!!!!!

 

[yssie]

Aside from that, I'm currently still reveling in the discovery of the Pre-Loved section: it's like being a magician! I can turn all the X pieces I never wear into the Y pieces that I do! It's just that for my initial foray, I did it backwards and bought the thing I loved first. Je regrette rien!

Preach on sister! Some of my favorite new stuff is from the pre-loved forum. I am, and will forever more, be kicking myself for not buying that ruby and diamond edwardian ring you got. Oh please just let me try it on once, perhaps that will sooth the beast inside of me. Where is the stupid hashtag for the #theonethatgotaway!!!!!!!

Hah!! Me, I'm kicking myself for that french cut ruby band Circe posted a while ago - it was exactly my size too...

I don't set a yearly budget or anything, it's more figuring out what I want and what I'm willing to pay for it and getting it whenever I have enough. I can't shop like Smith because my tastes are too fickle, I think!

Ginger - your post made me LOL I'm gonna bet most of us have an oops or two!!

 

[Dreamer_D]

Right now, my budget is $0 so like diamondrng lover, it's easy to calculate!

I stick to it. Because we worked hard to eliminate any consumer debt about 18 months ago and I do not want any more! On top of that, we have no discretionary income at the moment. So... yeah. Fun times

Years ago when I first got into bling and we had more money I just justified whatever I wanted But it was not a good plan, really there were more responsible things to spend the money on. I am glad I liquidated everything and kept only my most treasured piece.

Right now if I want anything new or different I will have to sell my solitaire! And that is still too silly/scary to really think about. For now We'll see what wins out -- novelty or the bird in the hand.

 

[Dancing Fire]

Seriously though, I do tend to buy until my bank balance gets to a certain point, and then I make myself stop. Just completely stop. That's where I am now - bloody uni fees are putting a serious dent in my income and disposable bling funds.

Since when is education more important than diamonds?...

 

[justginger]

Seriously though, I do tend to buy until my bank balance gets to a certain point, and then I make myself stop. Just completely stop. That's where I am now - bloody uni fees are putting a serious dent in my income and disposable bling funds.

Since when is education more important than diamonds?...

Don't worry, DF - I fully intend to spend every extra penny of income I earn as a result of upgrading my qualifications on bling.

 

[junebug17]

I've never really had a budget - I've purchased diamond jewelry in the past four years when my dh and I were comfortable spending the money, a case by case type of thing I guess. I got a few things as Christmas/birthday/anniversary presents. The OEC was a big purchase, so after I do this reset I'm calling it quits for a long time and the budget will be 0.00! Luckily the only thing I truly want is a new setting, I really don't have a desire for any other jewelry pieces, so that will make things a lot easier.

 

[packrat]

I do what Junebug does, case by case what we're comfortable with. Our comfort level rises w/our disposable income level which has gone down, sadly. Luckily, my avc three stone has satiated my jewelry desire for the most part, so I've crossed off almost everything I had on my wish list.

 

[jaysonsmom]

I don't have an annual budget, but I have a "goal list" so to speak....

My plan is to upgrade the e-ring by 1ct each 10 years of marriage,

So my original e-ring: 0.81ct
Current upgrade at 10 years 1.81ct
I hope to get a 2.81ct at 20 years etc etc.....

I also plan on upgrading my earrings in the major anniversaries in between at 15th, 25th etc, so I have a big purchase every 5 years

Budget would depend on how we are doing given the financial cicrcumstances at the time....

 

[missy]

I do what Junebug does, case by case what we're comfortable with. Our comfort level rises w/our disposable income level which has gone down, sadly. Luckily, my avc three stone has satiated my jewelry desire for the most part, so I've crossed off almost everything I had on my wish list.

I do this as well. My dh never sets a budget for my gifts (which I pick basically by myself with his input before I pull the final trigger) so I do the setting of my bling budget. And that varies with each circumstance depending on how we are doing. What expenses we have incurred for the last few months or whatever time lapse there has been since my last bling purchase. Sandy sort of hurt my bling budget though I did get my OEC after that but my dh put his garage project on hold for us to be able to make the OEC purchase. So while Sandy didn't affect my OEC purchase it is affecting future purchases because I do want my dh to get his garage. If there are no damaging hurricanes to our property this year I hope he can get his garage in 2014.

If we are doing well in general I set around a 2K max for each bling purchase but like others I often combine occasions like bday/anniversary/hanukkah-christmas combined/valentine's day. I don't do 2K for each though if I combine them all because that is way too much $$$ but I would feel more comfortable spending let's say 5K total for all of the above occasions. And then I really stick to it and do not purchase any bling until those occasions have passed. I don't count minor bling purchases into this equation though.

 

[diamondseeker2006]

I have spent a lot the last couple of years, especially. I sort of feel like I need to hurry and get the things I want since I am not young anymore and I want to have a little time to enjoy the things! I do not set a budget, but I do not go into debt on jewelry. I wouldn't want to add it all up or I might have a heart attack. I am mainly completing my classic platinum/white metals collection, and then I have a couple of additional diamonds that I want if there is some extra money down the road. At this point, I spend almost all of my part-time income on bling and more from DH's bonus and that kind of thing. I have gotten some great deals from ebay as well as things like the Beaudry settings from Pearlman's. But I have spent a lot on stones for those rings, too! So my great deals are balanced out by the things that I have to buy at retail.

 

[Smith1942]

Aside from that, I'm currently still reveling in the discovery of the Pre-Loved section: it's like being a magician! I can turn all the X pieces I never wear into the Y pieces that I do! It's just that for my initial foray, I did it backwards and bought the thing I loved first. Je regrette rien!

Preach on sister! Some of my favorite new stuff is from the pre-loved forum. I am, and will forever more, be kicking myself for not buying that ruby and diamond edwardian ring you got. Oh please just let me try it on once, perhaps that will sooth the beast inside of me. Where is the stupid hashtag for the #theonethatgotaway!!!!!!!

Hah!! Me, I'm kicking myself for that french cut ruby band Circe posted a while ago - it was exactly my size too...

I don't set a yearly budget or anything, it's more figuring out what I want and what I'm willing to pay for it and getting it whenever I have enough. I can't shop like Smith because my tastes are too fickle, I think!

Ginger - your post made me LOL I'm gonna bet most of us have an oops or two!!

Ha ha! The only reason I can shop like I do is because my taste is v. boring! It never changes. I'll be wearing preppy clothes and dyeing my hair with Loreal Preference Shade 7.5 and wearing small diamonds bezeled in white metal till the day I die, probably!

 

[Smith1942]

I have spent a lot the last couple of years, especially. I sort of feel like I need to hurry and get the things I want since I am not young anymore and I want to have a little time to enjoy the things! I do not set a budget, but I do not go into debt on jewelry. I wouldn't want to add it all up or I might have a heart attack. I am mainly completing my classic platinum/white metals collection, and then I have a couple of additional diamonds that I want if there is some extra money down the road. At this point, I spend almost all of my part-time income on bling and more from DH's bonus and that kind of thing. I have gotten some great deals from ebay as well as things like the Beaudry settings from Pearlman's. But I have spent a lot on stones for those rings, too! So my great deals are balanced out by the things that I have to buy at retail.

You and me both!

 

[Smith1942]

Double post - won't delete, sorry.

 

[madelise]

If you have money in the bank, and currently can afford something you want without taking away from necessities or bills, go for it.
My budget depends on current situation. Currently, it is at $0.

 

[chrono]

I don't have a set budget; I put aside a certain percentage for regular savings (separate from rainy day savings and retirement savings) and once I hit that goal, it becomes my slush money that I use to buy whatever my heart desires. Sometimes I don't use it at all if nothing catches my fancy. If I set my mind to custom set one of my stones, I will save up this excess amount until I reach that goal.

 

[LaraOnline]

This topic makes me feel a little depressed...because my 'wants' are infinite!
I am Elizabeth Taylor inside!
Until my wallet realises I am ET, which will happen shortly, I am caught in the uncomfortable situation of Pacing Oneself.
Actually, I'm mincing along.... another good reason to ration out PS!
One good thing about taking your time is that you tend not to have many 'regrets', though.
I try to think in terms of stuff I would wear for a life time, so (by necessary circumstance) I am more of a quality rather than quantity girl.
Until my wallet works out my proper position in life, that is!