Saving for a Ring: Why You Should Save as a Couple

PiggyBankWithRingsAfter being with my boyfriend for five years we started to talk about marriage. Eventually, the conversation moved to the topic of rings. As we know, rings come in all shapes, sizes, and price ranges and I knew I wanted a nice ring. I don’t have many family heirlooms and I was excited about buying something to pass along to future generations. I know that traditionally the man saves for the ring, but I wanted to help save for this large purchase. I didn’t want my future husband to go into debt over the ring, as “his” debt would be “our” debt soon enough. So we sat down and agreed on a budget and a length of time to save for.

I really enjoyed saving towards what we ended up calling “the secret savings fund.” Saving for the purchase together taught me a lot about our savings habits and proved that we could save successfully. We opened a separate savings account and deposited money into it each month. As we got closer to our goal I got more excited about the possibility of a proposal.

Finally the day came. Taking advantage of one of my business trips, my now husband went ring shopping. The day after I returned from my trip he cooked a romantic dinner at home.  I, however, had quickly forgotten about a possible proposal since it had not happened the night I returned from my trip. I know that my husband is normally unable to wait to give gifts – so I wasn’t expecting a proposal that night. So instead of eating the romantic dinner my husband planned, I took two bites of food, declared that I wasn't hungry, and proceeded to work on my Halloween costume (the character Link from Zelda) at the dinner table.

My husband was a bit worried, as his romantic dinner had become an arts and crafts project. He decided that he would even the score by proposing while I was in my silly costume. So he smoothly suggested I try on my costume. Then mid fashion show, while taking some pictures, he slid smoothly onto his knees, set down the camera and popped out the ring box. After turning bright red, I quickly said yes. The next day I asked if we had stayed within our budget. He assured me that we had. We had saved for over a year for the ring and knowing that we had worked hard to save and that there was no debt connected to the ring made the moment that much better.

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Tip of the Day

  • Written by Administrator2 | January 14, 2014

    To minimize interest charges, limit credit card purchases to those you can pay off in full at the end of the month. In the end you'll have more for emergency savings. http://ow.ly/FJyVP

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