auktalent3
Rough_Rock
- Joined
- Jan 20, 2014
- Messages
- 12
heididdl said:This is really not about the ring anymore. Marriage is a lot of work give and take ups and down etc. Life is not black or white or practical. I will say sometihing she is a lucky girl as I am sure that the financial side of you will plan and prepare for the future. Retirement, cemetery plots, bonds for kids college education. A good job with benes for insurance etc. But when that is all set life is also about fun being frivious , creative fun ......
Life can't all be practical and getting engaged is such an amazing time to have selected your partner for life. So celebrate relax about the money and just buy her a symbol of wanting to be together size doesn't matter. But if you do buy a diamond just remember cut is king when wanting to enjoy the brillance of what has become a symbol of engagement the diamond . The hardest carbon created by millions of years in the earth
Nighttt and good look For curiosity sake please share your process and your proposal as we all thrive on the excitement of how people enjoy this part of their life
I agree with you on this, it's important to indulge in things that you enjoy and at some point you'll definitely need to spend the money you accumulate.
canuk-gal said:HI:
Since you are both "agreed/ on the same page in regard to expectation"; then get her little or nothing at all. Let us know how that goes over.![]()
cheers--Sharon
Realistically I won't be getting her nothing, because I do believe in the symbolic nature of the ring and want to symbolize my love for her. Truthfully, we live in a very up-scale neighbourhood within one of the most expensive financial districts in the world. I think she can survive without a huge rock if it means ensuring other priorities in life are taken care of. Life is all about compromise, not only diamonds. The 4 c's within a diamond fall into a much larger diagram of life, where there are thousands of c's and only a limited capital pool for most of us.
Gypsy said:I don't think it is relevant what any of us spent. Either as a hard number or as a percentage income.
You need to speak with your significant other and see what her expectations are. Hers are the ones that matter.
"Excessive" as some of these rings seem to you, everyone has different priorities. And NO ONE's priorities matter in this decision as much as your partner's do.
Marriage is about facing difficult issues and finding a way through them together. This is your chance to start practicing that.
I suggest you speak to your partner frankly and find out what as sensible budget is for the two of you, and go from there.
Agreed. I have had a frank discussion with her on this and as much as she agrees with me in my "rational" thinking, I know deep down she really wants a nice ring. This is why I will probably go against my honest beliefs and get her that ring that she wants - also because I can realistically afford it. I think I am trying to find a way to be at peace with myself for making arguably a very bad financial decision. Her ring could be a year of retirement living, or a year of college education for a kid, or a year of savings in case I get laid off in a highly cyclical industry, or a great investment, or used to pay for the wedding, or... you get the point. But, having said that, if it will make her happy, I am a sucker for making her happy, so I am planning on doing it.
Circe said:auktalent3 said:Hi everyone,
.... one thing that struck me as odd is the sheer number of individuals with diamond rings that seem excessive. I am Canadian (with a European background) and the idea of an engagement ring costing me tens of thousands of dollars actually seems absurd ....
Thanks guys!
Dude, you're asking a bunch of obsessive hobbyists why their weird thing is important. Do finance guys have forums? Given Rule 34, I'm guessing yes ... So just imagine someone going onto one of those to question the central premise of your passion. WHY is having a lot of money so important? (See also this week's NYT op-Ed piece on wealth addiction.). Sure, there are some practical reasons, but past a certain point ... nope, it's about cultural standards and the metrics of success.
I have no close friends of Canadian extraction, so I have no idea what your general standard for symbolic relationship jewelry might be. My spouse, on the other hand, is a Swede: his people get engaged with simple gold bands and maybe bling it up with a diamond band on the day of the wedding or a significant anniversary. Nevertheless, I have what could be termed an excess of diamonds, quite simply because I think of them as portable miniature art, they make me happy, and he likes making me happy. (This is the same reason why we have Swedish flags in every room and a plethora of elk-themed paraphernalia: marriage is all about compromise, y'all.)
So the first big piece he got me, the engagement ring? I believe it was the equivalent of one month's net salary. He thought it was a weird cultural quirk, too. But given how many happy hours that thing has given me ... I'd say it amortized pretty fast. It made me feel cherished, not in spite but I think because of his beliefs. It might not have made sense to him, but he did it knowing it would please me. Symbolically, that's not a bad way to start a union, I think.
All that said, jewelry is a luxury purchase that comes way after we max out our retirement savings, kid's college fund, emergency cushion, etc., and I tend to buy estate piece that I am pretty sure I won't lose money on, should I need to resell them. A *modicum* of practicality won't hurt, I suppose.![]()
I am glad you guys have managed to find a compromise. I think 1 month of net salary sounds very reasonable to me and that I wouldn't have a problem with that.
Jimmianne said:JulieN|1390294939|3597507 said:Talking about money is not polite.![]()
Money talk is so taboo that there are workshops, groups & seminars for people who have it in spades. It is a very loaded subject. Probably one reason why people come here to show off their big stones. Can't do that politely in the real world, and thank goodness there are safe places where you can!
Anyway, my two cents in this discussion is that we could have afforded much more than we spent and yet I still ended up with beautiful diamonds that give me joy. Of course, we don't live in a "hot spot". We used to live in South Florida where flaunting money was the local pastime.Not much peer pressure here in rural NC.
I'm with Warren Buffet on this, folks. I like having $$ in the bank earning $$.
Amen to that! Putting money to work is the way to go.
recordaras said:I have to start out by saying that I'm not a fan of judgment in this matter and I think that both "Diamonds are just a product of DeBeers marketing that only suckers fall for" and "If he truly loves you he'll spend X amount on your ring" somewhat unhealthy extremes. In reality it all comes down to each individual couple and there aren't and can't be any fixed rules.
Our situation is probably different from most PSers, since we spent very little on my engagement ring. Our initial budget was roughly two weeks' of my fiance's net pay, but then I found a stone that I fell in love with and the ring came to a little over one week's net pay. We agreed that we'd eventually reset it into a three stone setting, and when we are ready I will transfer the three stone to my right hand and get a larger solitaire (if that remains a priority of course).
We were 28 and 26 when we got engaged, and while we are both working professionals and solidly (upperish) middle class, we are by no means rich and at this point splurging in one category would mean having to take away from one of the others. So a $10K ring would mean $10K less into the "move into a pricey Boston suburb with good schools when we are ready to have children" fund. For us personally that is a priority right now, and for that very same reason we are having a small Sunday wedding for just 25 of our closest friends and family instead of a huge $30K affair for hundreds of guests.
Do I sometimes feel a twinge of jealousy when I see my peers with beautiful blingy rings? You bet - I'm only human after all, and since we're in the Boston area most of the stones are much larger than mine. However, if we had to do it all over again, I'd go the exact same way about it. I'm sure I will have my large stone at some point, but not until all of our other bases are covered.
Luckily, we are both on the same page about this. For many this might be too practical of an approach, but in our case it works out very well.
Good for you guys, that's my thinking exactly. The reason I asked what people spend as a % of salary is that it's really the only way to look at it really from a financial perspective. Spending $30k on a ring is fine - assuming you've satisfied other priorities in life. If the kids are going to a crap school because the parents couldn't afford a good neighbourhood, then subsequently don't end up going to college, all to satisfy their parents expensive "hobby" is problematic.
tyty333 said:Have you considered going the second hand route? You can get a much better deal on a stone, put it in a new setting and
you are good to go. It may take longer to find what you are looking for but it may be easier for you to swallow.
I have considered it, however thus far I've had little luck finding something decent. A few problems I've encountered include prices that are too high (for GIA of course) and simply lack of variety. It's also a bit "sketchy" because I don't really know what I am buying. Trust me though, if I could source something through this avenue, I would have no problem doing so. After all, we're all kidding ourselves if we think the diamonds we get from a jeweller are "new".
My thinking for now is to spend ~4.0% of my annual income. This will provide me with enough of a budget for a decent sized ring, albeit again, it's a bitter pill to swallow!