I have come to the realization that I am going to have to get hitched eventually. My significant other even went ahead and looked for rings that she liked (Isn’t that sweet of her?) In doing so she sent me a bunch of links of ones that fancied her, all after me giving her an idea about a budget that’s in my range.
In these tough economic times, its good to know that there are some practical females out there that are realistic in their idea of an engagement ring. Even better is the fact that I found one that likes me back! However, I am left with the dilemma of how I am going to pay for this special gift.
Over the last few months, I have built up a decent savings account. I have my ING Online Savings Account and its Automatic Money Transfers to thank for that! I also have my large tax refund on its way into my checking account within the next few weeks. Basically, I have about $5,000 saved up that we can label a savings/money market/emergency fund.
Do I tap into this fund to pay the ring off in its entirety? Or, do I pursue a financing option to pay off the ring? I have found deals that offer me 12 months of 0% interest, but I have to make sure I have it paid off in its entirety by the end of the 12 months to avoid gigantic charges.
Quite the predicament eh? (Or am I just a panzy?) I am looking for some serious answers here because, whether I like it or not, I am going to have to give in to showing I am committed sooner or later, and the only way to do so is by “Putting a rock on my finger” (Her words not mine!).
Yes, is a cry for help from a young man who is scared to give up his bachelorhood. It was so much easier to answer the question, “Paper or Plastic?” at the local grocery store when I was little. Your thoughts are not only appreciated, but they are DEMANDED!
2 Comments
Its very nice. Pretty impressive and an interesting article. I enjoyed it very much.
Plastic Card printing
Definitely the 12 month 0% – unless the ring you are purchasing is above and beyond your emergency savings. If you have a plan to be paid in about 10 months, then you should be able to in 12 months given some emergencies that may come up. And, you also have the emergency savings if a huge problem arises.