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Want to know about budgeting an engagement ring before you purchase it?

Guide to Budgeting for an Engagement Ring

Although it may not sound romantic, budgeting for an engagement ring is an important part of wedding planning. Budgeting for an engagement ring will allow you to carefully consider how your money is spent. Buying your engagement ring online is one of the best ways to stretch your ring budget. How do you budget for an engagement ring, and how can you get the most for your money? Buying an engagement ring will be one of the major purchases you make in your lifetime. You don't want to make a mistake, and you want to spend your money wisely. At the same time, you definitely want a beautiful, quality engagement ring that shows how true your love really is.

How does one budget for an engagement ring?

The concept with Engagement ring budgeting has nothing to do with being cheap. In fact it will help you to plan correctly your budget to be able to afford a very expensive engagement ring.

Before you start budgeting for an engagement ring, there are a few questions to ask yourself:

  1. How much can you save each week for a ring? Each month? Answer this question truthfully and it will be of special meaning to you to save on avoidable expenses for the most important ring of your life.

  2. Finalize on your payment plan, full payment or installment? If you are opting for full payment, then you'll have to save more. A payment plan will offer some leeway, for installment payment plans decide on the frequency of payment and time per

  3. If planning for a payment plan, the most important parameter is the interest to be paid. Adding the interest on an item can sometimes cost more than the actual item and you'll end up paying more than if you'd saved enough to pay for the ring all at once. If possible, you're always better to pay for the ring all at once or choose a good installment payment plan with affordable interest rate.

  4. Is an expensive ring important? Finally, the issue of how much to spend when you buy engagement rings. Don't bankrupt yourself when doing this, but don't overlook the importance of the engagement ring to your betrothed either. While the industry standard has been to suggest two months salary, this is far from a rule that is set in stone. Try comparison shopping online. The nicest thing about shopping on the Internet is that you can look at what the jeweler has to offer comfortably, without a sales person hovering over you. It also saves you money on fuel.

Once you've have found an answer then, you'll know how to start budgeting for an engagement ring.

When should I start budgeting for an engagement ring?

The time to start saving is once you decide to get married. Plan to set aside a specific amount of money from each month's salary. Your saving depends on how much you want to spend on the ring, and on the amount of time until the ring is needed. The sooner you start budgeting for an engagement ring, the more the money you will have for your ring.

After started budgeting for an engagement ring, compare the prices for types, stones, setting, online and retail. Shopping online for a ring can help make the process easier to search for rings within your budget, weeding out those that are too costly.

Budgeting for an engagement ring doesn't mean you have to sacrifice quality, if you budget and plan properly you will have the money to buy a ring of your dreams.