Tips for Engagement Ring Saving

  • 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.