You do have the option of financing a ring with a loan arranged through your jeweler

Using loans to make major purchases and keep cash on hand can be a smart financial move, and in some cases, the loans offered by your jeweler may fit your needs

• Buying an engagement ring is exciting, but it takes a lot of research. Paying for the ring is something you’ll need to consider, too.
• There are a few different ways to pay for a ring, including saving and paying outright or taking out a loan.
• One of the easiest ways to pay without depleting your cash reserves – and without having to pay interest or loan fees – is to use a credit card with a 0% introductory APR on purchases. That way, you can take your time to pay without having to pay interest (until the introductory period is over).
• There are a few options, but our choice for the best card with a 0% introductory APR is the Chase Freedom Unlimited®. After the 15-month 0% introductory period, a % – % Variable APR applies.

Buying an engagement ring is a big deal. It’s a thing that takes research, patience, and decisiveness. As Josh ond and jewelry retailer pointed out in an interview with Business Insider, buying an engagement ring “is a decision on par with buying a car or a house – you can’t just jump into it.”

Of course, whenever you start thinking about an engagement ring, it’s not long before the cost comes into play. Whenever you decide you’re ready to propose to that special someone, how much you spend on the ring, whether you’re resetting a diamond that has been in your family for generations or buying a new one, is a personal decision. There’s a ton of advice out there, and plenty of schools of thought, but there are no hard and fast rules; ignore anyone who tells you that you absolutely have to spend three months’ salary, or that you have to spend a certain amount for each year you’ve been together.

One thing that’s for sure, though, is that you shouldn’t spend outside of your means. When you’re ready to pop the question, and in a financial position to do so, there are a few ways to pay for an engagement ring. However much you decide to spend, chances are it’ll be a lot – likely the most expensive thing you’ve ever bought. When I proposed to my (now) wife, that was certainly the case – not counting college and grad school, of course.

Keep in mind that we’re focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It’s important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.

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Using loans to make major purchases and keep cash on hand can be a smart financial move, and in some cases, the loans offered by your jeweler may fit your needs

• Blue Nile: Financing is available via Blue Nile’s credit card. Depending on the price of the ring, consumers enjoy 0% APR for the first six, 12 or 18 months after purchasing. If you choose a longer payment plan, with equal payments, there’s a 9.99% APR.

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