Updated: Dec 21, 2019
5 Alternative Choices to Traditional Diamond Engagement Rings
Who doesn’t want to open that huge brightly wrapped box under the tree, only to find a tiny one inside? Or wonder, suspiciously, why the Valentine's box of chocolates has already been opened.
According to Glamour Magazine, the period from U.S. Thanksgiving through to February 14th is generally the most popular time for couples to get engaged.
This is the time of year that jewelry stores are salivating at the ca-ching of the cash register as this is when 40% of the diamond rings are sold – and soon-to-be grooms are being seduced over 0% APR and bonanza half-price sales now on.
It was the diamond industry that gave the rule of the ring must cost two months’ salary. At $60,000 salary – that’s a whopping $10k.
This is a rite of passage to marriagedom for men, or women, to spend all their savings on a piece of rock instead of into an investment that will appreciate in value. Truth is, that diamond ring lost half its value the moment you walked out of the jewelry store with it. Proof? Try selling it for what you paid.
The diamond ring was one of the biggest marketing cons of the 20th century. In 1938, De Beers decided that you had to buy your beloved a diamond ring if you wanted to marry her. It shows how much you love her and the bigger the diamond, the deeper the love.
With control over worldwide distribution of diamonds, De Beers could keep the price high and supply low – thus creating a false value. In fact, diamonds aren’t that rare and if the world’s storehouse of diamonds were ever released, the value of the stone would plummet to near zero.
“Diamonds are not actually scarce, make a terrible investment, and are purely valuable as a status symbol. Diamonds, to put it delicately, are bullshit,” wrote Rohin Dhar in https://priceonomics.com.
So what does a person in love do? Here are 5 alternatives to diamond engagement rings:
1. Alternative gemstones - There’s lots of alternatives to choose from - amethyst, pearl, wood, man-made synthetic diamonds. So many choices – choose one that speaks to you.
2. Family heirloom ring – Somewhere there’s a jewelry box with grandma’s rings inside. A little bit of polish and resizing can do the trick. Think recycle.
3. Downpayment on a house – Nothing says commitment like buying a house together. You will definitely be spending more than the 2 months’ salary, but you’ll also be choosing it together – and it is a better investment than a diamond.
4. Around the World Trip – This will definitely cross places off your future bucket list. And if you’re young and adventurous, get a leave of absence from work, throw on a backpack and travel around the world. My son and my daughter-in-law did this before they got married – 6 months around the world. This is the ultimate premarital test – if you both come back alive and still talking, you’re set for life together. Get an idea for your trip at www.AirTreks.com.
5. Tattoo Engagement Ring – This is the ultimate sign of commitment – permanent, can’t take it off, lose it, or sell it. Choosing the design together will have meaning for you both and be a true testament to your relationship.
What other alternatives can you think of?