My boyfriend and I looked at engagement rings today. The very top of our budget is $10000, but I doubt we’ll decide to spend anywhere near that much. But let’s say we do find a ring we think is worth spending $10000 on. The jeweler told us we could either pay for it all upfront or we could pay a 25% down payment and pay the rest off at 0% interest over 12 months.
We definitely could afford to pay all at once in cash and still be doing fine financially, but I was wondering what the pros and cons are of going the 0% over 12 months route.
EDIT: Yes I know that spending $10000 for a ring is ridiculous and we don’t have any intention of actually spending that much money. The jeweler asked us for our budget, which we hadn’t really talked about yet because we’re at the very beginning of this whole getting married process. Today was mostly a window shopping expedition and after walking away from the jeweler’s sales pitch I was genuinely curious about the financing versus pay up front options. We could afford $10000, but I totally agree with others here who have recommended we put that money to better use
Submitted March 30, 2019 at 04:44PM by Sagan_The_Blue https://ift.tt/2OHKat3
