<prompt> Human: I plan on getting engaged within the next 6 months and I have been saving for a ring for about 3 years now slowly putting money away. A friend of mine who recently got engaged suggested that I take out a loan instead to buy the ring. Should I use the cash I have saved to buy the ring or take out a loan to pay it off slowly?Assistant: No reason to take out a loan to get the ring. Itll be more expensive because youll pay interest on the loan. Use your cash. Human: I was thinking the same thing and his reasoning was if I take out a loan and theres no APR for the first 6 months to year I can get a more expensive ring and still keep making the appropriate payment I will as long as I pay it off within that 6 month interest-free window but Id rather just save for the wedding  <response>: If youre taking out a loan to pay for a more expensive ring than you could buy with your cash, then you are buying a ring you cannot afford. You did everything right in saving for a ring. Just do what you were planning to do. Oh, and congrats! 