How to Save for an Engagement Ring According to a Financial Expert

Blue Nile and financial expert Douglas Boneparth partner to break down everything you need to know about financing, saving for, and affording a diamond engagement ring. Hi, my name is Douglas Boneparth. I’m the President of Bone Fide Wealth, LLC. and Co-author of “The Millennial Money Fix”. I spend my time working with clients to help them achieve their great things in life through financial planning, education, and literacy. There’s no shortage of challenges our generation faces, such as paying off student loan debt, saving for a home, starting families, and just settling down. Our twenties and thirties are loaded with critical decisions at almost every turn, which is why it’s more important than ever to be equipped with information that can help us make great decisions. And while millennials are redefining what it means to get married, we still have to get down on one knee and propose to the one we love. When it comes to the engagement ring purchase process, you’re undoubtedly excited, nervous, and even anxious. Some will admit that they’re losing sleep over buying a ring. Will my partner like it? Can I afford it? What will my friends and family think? These are the things that keep people up at night. Unfortunately, I’ve witnessed at many points in my career what happens when people make emotional decisions around money. Which is why we need to help people make a smart decision when it comes to buying an engagement ring. You should be confident when you make this decisi