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How Much Should I Spend?
Before you set foot into a jewelry store, the best thing you can do is figure out your budget. The next best thing you can do is learn how to protect your investment.
So how much should you spend? We suggest turning on the game, crackin' a cold one and relaxing with pen, pad and calculator!
Two Month's Salary?
You may have heard the standard "two months salary" rule. While this may be a good gauge, we are here to inform you that this is not a rule! Some economists suggest no more than 6 weeks salary or 6% of your annual income.
Depending on your economic situation, you may need to consider spending more or less. It's important to base your budget on a realistic forecast. Will you be receiving that same big bonus this year? While you shouldn't overspend and place yourself in a financial predicament, this is definitely not the time to be cheap!
If You're a "Saver"
There is no shame in being a saver. As a matter of fact, our country wouldn't be so obnoxiously in debt if there were more guys like you. However, this is not the time to save unnecessarily. It's difficult for us guys to get really excited about an engagement ring. Do you lie in bed at night fantasizing about your ring? Do you think up different scenarios of running into your high-school rival, only to have them enviously gawk at your left finger? Maybe not, but she does.
Chances are your lady understands your financial situation. She most likely is not expecting more than you can afford. But understand, if you get her less than you can afford, she will be very disappointed. Not only is she dying to show off her new object of your affection, but she will be wearing it for the rest of her life. Our best advice: Set a budget, and "max it out" without going over. We guarantee a happy future bride!
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