Put a little money aside every month - better yet, set up an automatic transfer so it's seamless.
- Tax returns or bonuses can make a good nest egg for an engagement ring purchase - so keep on living like you didn't get the influx of spending money if you can.
- Cut out unnecessary spending. Is there something frivolous you're doing every day that you could put on hold in order to save a little more cash for that dream ring?
- Divide the ring cost by number of months you have until the proposal -- this tells you how much you'll need to save per month.
- Set up a new account specifically for your ring goal. Don't mix your spending money with funds earmarked for the ring. Out of sight, out of mind (and ability to accidentally spend!)
- If you're thinking a year or more ahead and/or need a lot saved up -- explore higher interest savings options, like high yield savings accounts that allow easy withdrawals but give a larger than normal return.
- Keep control of your emotions. Engagement rings are sentimental objects and we know you're excited -- but reign it in and keep your budget and savings top of mind while you're shopping.