Don’t Go Into Debt for a Ring

24 Feb

While researching stats for pitch related to engagement rings, I came across a gem of an article (NSFW) on Thought Catalog about the engagement rings real women received and how much they cost their partners. Of the 13 people quoted, ring costs range from $0 to $30,000 – no joke, thirty-fricken thousand dollars.

The justifications some of these ladies have for the cost of their rings range from the poignant to the completely outrageous. Case in point, the explanation for the $30,000 ring cost: the recipient is a high-powered lawyer who feels anything less would have hurt her career and resulted in judgement from her professional peers. Seriously.

Far be it from me to judge anyone for the cost of their wedding ring. However, I am bothered by those who feel it’s not only necessary but totally normal to go into massive amounts of debt to purchase a ring. According to The Knot’s 2016 Real Weddings Study, the average expenditure on an engagement ring is over $6,000. Ouch.

If you can afford a big rock, more power to you. But if you can’t, please don’t let the desire for one override your rational decision-making. After all, do you really want to kick off the next chapter of your life and relationship in debt? Identify what you can afford and shop for rings within that price range. Alternatively, you can purchase simple, gold wedding bands for as little as $40 on Etsy, and upgrade later when you have the means to do so. These are just two ideas — there are plenty of other ways to symbolize your commitment to your partner without maxing out your credit card.

What do you think?

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