<prompt> Human: im in the market for an engagement ring for my great gf of 3 years. we live together and are in a solid relationship. i posted my budget recently on PF and got some shrewd advice not to overspend on an engagement ring. my original target price was 8k, but i was wisely advised that was probably out of my price range. since then, ive been researchingprice shopping online, but thought it might be nice to get some human perspective too before i start narrowing down immensely and possibly tapping her best friend to help out with more personal input. my main questions for either the men who happily got married, or women who were happy with the ring they were proposed with: how much was your ring? was it bought online or in-store? if online, what was the etailer and how was your experience? any other interesting tidbits to share eg, it was custom designed, or specific cutsizeshape of stone. i appreciate any and all help!Assistant: Eight thousand dollars? As in, the number eight, a comma for us Americans, then three zeroes? I think were going to need some more information about your finances to proceed in a reasonable manner. When I opened this thread I was ready to talk about the years of planning and sacrifices I made to proudly buy a 700 ring for my fiancee. Personally, if youre even thinking of putting down 8k for a ring and not hyperventilating or a bloody moron, you must have such a good ratio of incomeassets to debt that there arent any red flags. Its just a matter of identifying a budget youre comfortable with and a style you like. At your price range, set a maximum budget and get the ring shell like. Dont spend more money for the sake of spending more money. If shell like the 1k ring as much as the 3k ring, then get the 1k ring. Youre not buying an asset that will hold its value. Too many people buy expensive rings just because they can for that reason, and they shouldnt.Anyway, I had a separate savings account that was only for the ring. I only put into it during good times and only modestly so Id never have to withdraw from it. Things were also going well financially when I made the purchase. The biggest thing: years ago, I bought a small 110k necklace for her from Fred Meyers on Amazon. It came with a coupon for 20 off with- get this- no maximum or expiration date. I kept that thing with my birth certificate. I went to Littman, who Id used in the past, was happy with, had a brick-and-mortar store, and was in the Fred Meyers family so I could use the coupon. I wanted simple and elegant- a white gold band and a round solitaire. I told the salesman my budget, he showed me some options, and I went for the 0.3k solitaire on a white gold band. It was simple and nicely sized not tiny, not ostentatious. A gemologist came out to point out some features of the particular diamond I was buying; it had one occlusion which he hid well behind the setting. All in all I was happy with the experience, and were now engaged.Im not an expert, but I do believe that certain precious stones can be treated as assets. I believe rubies and sapphires fall into this category.Human: that was an honest answerreaction. thank you. some quick details: yes, it was 8,000 USD, but no, im no longer considering spending that much on a ring. my new budget is in the sub-5,000 region, though depending on the type of ring i settle on i could see it hitting 5,000. the separate savings account is a good idea. i do my non-investment savings with capital one 360, so ill create a sub-account for the ring fund. the coupon is very interesting! you dont happen to have a spare, do you? : all joking aside, i will keep a diligent eye open for a discount. the plan right now is to buy a loose diamond separate from the setting, and then have it put together.  <response>: the separate savings account is a good idea. i do my non-investment savings with capital one 360, so ill create a sub-account for the ring fund.We had shared finances at the time, so saving the money was tricky. I kept a savings account with a bank that I could have a passbook rather than statements. This way I didnt have to watch the mail. Also, she was aware I was saving for a ring, though she didnt know the details. So if she ever found the mysterious passbook for a secret savings account, she either would have assumed that this was what I was doing or would have believed me if she asked.the coupon is very interesting! you dont happen to have a spare, do you? :Sorry! I couldnt believe it when I found that coupon without a maximum or an expiration date. I kept it for about six years knowing thats what it would eventually be used for. IIRC, the only restriction was that I couldnt use it on loose gems.the plan right now is to buy a loose diamond separate from the setting, and then have it put together.Treat this transaction like buying a house from a broker, not like buying a TV from an electronics store. At your price point youre going to be a sought after customer. Plan to buy the ring and setting as well as have the mounting done all in one store. Choose that store now, go in, and introduce yourself. If you simply walk in and say I have 5k, Im going to buy a ring, youre going to be shown all the merchandise on hand and asked what you like best. If you go in and say Im looking to buy a ring in the next 6912 months, with a 5k budget, youll be a fish they want to reel in. Youll get calls when the jeweler makes a buy and thinks he has a stone youll like. Youll get invitations to showings where they pass out champagne and show all their different bands and shapes. And the merchant may even cut you a deal at some point if he wants that money from you sooner rather than later. Basically, by establishing a relationship with someone youre going to make a buy from in the foreseeable future, the merchant will give you a lot more foreplay. 