How To

How to save money on your engagement ring

Weddings can cost a lot of money. Web Watch has heard stories from our friends of their weddings costing tens of thousands of dollars — one even went into the six figures, partially courtesy of the location held high above Manhattan.

But just as there are many ways that can cause a wedding cost to skyrocket, there are plenty of other ways that the happy couple can cut down on the costs of some wedding specifics.

1 ctw. Round Diamond Solitaire Engagement Ring
1 ctw. Round Diamond Solitaire Engagement Ring

Brides can rent their wedding dresses. You can hold the event in your backyard, or at a public park.  Make it an afternoon wedding with light appetizers rather than a formal sit-down affair.

But one item that has a relatively static fixed cost is the wedding ring.  And according to A RECENT SURVEY BY THE KNOT, the trend now is for couples to share the cost of the wedding ring equally rather than have it paid for solely by the groom.

46% of those surveyed said that splitting the ring cost makes perfect sense in today’s world, especially where women can be equal — or better — money earners than their future spouses.

Of course, this doesn’t lower the overall cost of the ring itself, it merely lowers the financial burden on a single party.  But that can be okay — after the wedding, the couple needs to determine the best way to handle their finances together. What better way to do so than by starting on the first major purchase needed as a couple, the ring?

As you’d expect, men are elated by this idea — and so are some women.

But traditionally-minded folks think that it’s a slap in the face of tradition.  But does it really matter anymore in today’s world?  Would you do things any differently now versus when you were initially considering marriage when you were younger?  Has today’s economy or job situations made the ring purchase more likely to be a shared cost rather than a single buy?   Leave your comments below and let us know your thoughts…