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Diamond Budget: Shoppers Buying Guide
By Denny Reinke
How much money should you budget for an engagement diamond ring? There is no single answer to that question because everyone’s situation is different. For some shoppers, $500 is the maximum they can spend and of course, there are celebrities who can and do spend millions on an engagement diamond ring. The diamond industry has set a guideline of two months salary for what to spend on the engagement ring. Interestingly, this is the guideline for the United States. In the United Kingdom, the guideline is one month’s salary and in Japan, it is three months salary.
The budget that is right for the diamond shopper depends on a variety of issues and the wise shopper assesses budget considerations before making their purchase decision. In fact, carefully evaluating the budget before starting shopping will help ensure that an impulse purchase does not become a financial nightmare.
Here are some of the questions diamond shoppers should ask themselves before starting the diamond shopping process.
How much money do you have saved now and what can you expect to save before your target purchase date?
If you are going to finance part of the purchase price, where are you going to get the financing and what monthly payments can you afford? Do you have a job and is your job secure?
What other new expenses are you planning in the near future? Do you need to buy another car, how much and how soon is the wedding and honeymoon, are you planning to move to more expensive housing, do you have student loans or credit cards that need to be paid off? These major financial events often occur soon after a marriage proposal.
A key for a successful marriage is for a couple to work together in setting financial objectives and budget. However, often the engagement ring is a surprise and therefore is a big budget decision made without consulting the girlfriend.
Once the diamond shopper has determined their budget, some other considerations might influence what they actually spend on the diamond engagement ring. A man in love often has a desire to show the extent of his affection by spending more than he can really afford. While spending more money does not ensure
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Diamond Tools & Home Improvement
By Jeremy Stone
A diamond tool is a cutting tool which contains diamond segments to cross by a large variety of materials that other cutting tools cannot. The segments are composed of crystals of diamond and powder Read more...
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Diamond Wedding Ring Guide: Tips And Advice For Choosing Your Ring
By Melissa Burton
One activity that you will undoubtedly appreciate when preparing for your wedding ceremony is the wedding ring selection. Like most young girls, you have probably spent most of your life dreaming of Read more...
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Have You Recently Purchased A Gemstone Or Diamond? Or Planning To Buy One. Read This First
By Pratik Lalwani
What are gemstone ?Gemstones are generally minerals that have been, or may be, fashioned to use for personal adornment.Do you know that there are thousands of gemstones and in Read more...
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Diamond Jewelry Appraisals - Are They Worth It?
By Chris Robertson
When you buy diamond jewelry such as diamond rings, diamond pendants, necklaces, or tennis bracelets, you're not only buying a product, you're investing in an item with tremendous value for now and Read more...
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