An engagement ring is a significant purchase, but it doesn’t have to drain your savings. A finance guide suggests abandoning the two‑month salary rule and focusing on your own budget and priorities discover.com.
There are several financing methods to consider:
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Cash/savings: Paying upfront avoids interest and ensures full ownership.
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Jewellery store financing: Many jewellers offer 0% interest for limited periods, but be aware of deferred interest charges if you miss payments discover.com.
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Credit cards: Using a low‑interest card can spread payments, but high APRs can offset rewards.
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Buy Now Pay Later (BNPL): Services like Klarna and Afterpay split payments over a few months discover.com.
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Personal loans: Fixed‑rate personal loans offer predictable monthly payments and may be cheaper than credit cards discover.com.
Before committing, compare interest rates and total costs. Consider choosing a lab-grown diamond or recycled metal band to reduce the initial price.
At Diamonds4Change, we provide transparent pricing and guide you through financing options. With our profits funding social programmes, your ring purchase becomes a gift that keeps giving.
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