Goshen News, Goshen, IN

Business

June 15, 2014

Can't buy me love? Engagement ring buying tips

You’re in love and ready to buy an engagement ring.

But are you ready to part with three months’ salary as the diamond industry has traditionally suggested? If not, what’s your magic number?

Figuring that out can be a stressful, high-stakes undertaking. Engagement rings come with unique financial and emotional expectations. And in a relationship intended to last a lifetime, it’s the first big test.

“It does set a certain tone about whether a woman’s expectations will be met by her husband or not,” said Julie Albright, a sociologist and marriage and family therapist at the University of Southern California.

Even so, how much to spend rests in striking a balance between dazzling your beloved without tarnishing your future financial goals together.

Here are five tips to help you size up how much to spend on an engagement ring.

CONSIDER FUTURE FINANCIAL GOALS

Whether you have a wheelbarrow full of cash ready to bring to your local jewelry store or not, your future plans as a couple should be part of the calculus for how much you can afford.

Sit down with your partner and go over your short- and long-term financial goals. Beyond wedding expenses, goals could include saving for a down payment on a home, preparing to start a family, as well as retirement planning.

“This is the perfect entry point to see where each person’s money values come from,” said Michael Branham, a certified financial planner in Edina, Minnesota. “How are we going to put that life together and how does buying something like an engagement ring fit into that picture?”

GET A FIX ON EXPECTATIONS

First off, don’t feel compelled to heed to the expectation that a ring cost three months’ salary, the benchmark established by the De Beers diamond cartel.

Text Only
Business
  • Amazon Kindle Service [Duplicate] Amazon unlimited e-book service is limited NEW YORK — Amazon’s new “unlimited” e-book service lets you read 600,000 books. That sounds like more than you’ll ever read, but I found myself struggling to find the books I wanted. It turns out that the library of 600,000 is bit like a small bookst

    July 21, 2014 1 Photo

  • BIZ GN140720 blue barn berry farm image 01 New berry farm also offers classes, treats SYRACUSE — A retirement hobby has grown into a new agriculture-based business for a local family.Don and Peggy Bucher and Shanda and Chris Sheeren are members of a farm family who operate Bucher Farms along N. 300 East. According to Shanda, her mothe

    July 20, 2014 2 Photos

  • BIZ GN140720 mike gingerich column image Online marketing methods to grow sales Growing sales through selling online is a powerful way to reach more people and extend your market.To sell online means getting in front of the right people in the right places. You want much more of a laser focus than a scattershot approach. It also

    July 20, 2014 1 Photo

  • Local job numbers up, but so is jobless rate A growing number of people looking for work in Elkhart County has boosted the unemployment rate despite an increase in the number of jobs.According to the Indiana Department of Workforce Development, Elkhart County’s jobless rate was 5.6 percent in J

    July 19, 2014

  • Microsoft-Goodbye Android-3 [Duplicate] Axed Nokia X phones suffered from lack of identity NEW YORK — The Nokia X phones that Microsoft discontinued this week blend two rival operating systems, but leave out the best of each.As a result, the devices didn’t become a runaway hit as Nokia’s low-cost answer to serving emerging markets.Nokia X

    July 18, 2014 2 Photos

  • Obama opens Eastern Seaboard to oil search ST. AUGUSTINE BEACH, Fla. — Opening the Eastern Seaboard to offshore oil exploration for the first time in decades, the Obama administration on Friday approved the use of sonic cannons to discover deposits under the ocean floor by shooting sound wave

    July 18, 2014

  • Planners limit use of Hawks building GOSHEN — The types of businesses that could potentially be located in the recently refurbished Hawks building in downtown Goshen could be limited if a ruling by the Goshen Plan Commission Tuesday holds up. During Tuesday’s meeting, commission members

    July 15, 2014

  • BIZ GN140714 commodore image Commodore adds space, jobs GOSHEN — The Commodore Corp., which operates Commodore Homes of Indiana, a producer of modular and manufactured housing, has completed and is now operating a 17,400-square-foot plant expansion and renovation.Commodore has also broken ground on the ne

    July 14, 2014 1 Photo

  • BIZ GN0713 tech talk with mike column image 02 Online marketing methods to grow sales Growing sales through selling online is a powerful way to reach more people and extend your market.To sell online means getting in front of the right people in the right places. You want much more of a laser focus than a scattershot approach. It also

    July 13, 2014 2 Photos

  • BIZ GN0714 DIY coffee 01 BEANS AND BREWS GOSHEN — Do-it-yourself beer, wine and coffee enthusiasts located in the Goshen area now have their very own one-stop supply shop with the opening of the new downtown specialty store DIY Coffee and Ale Supply.Located at 114 E. Washington St. next to

    July 13, 2014 2 Photos

Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
AP Video
Disabled Veterans Memorial Nearing Completion Last Mass Lynching in U.S. Remains Unsolved Home-sharing Programs Help Seniors Ex-NYC Mayor: US Should Allow Flights to Israel Clinton: "AIDS-Free Generation Within Our Reach" Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City
Poll

Last weekend (July 12) the Goshen Parks Department held its Kid’s Try-athlon to promote childhood fitness and this week (July 18) the new bicycle trail is open to the fairgrounds in Goshen, offering residents a healthy way to get to the annual agriculture exposition. Have you joined the local fitness movement?

Yes, I work at eating healthy and exercising
No, I am happy with my fitness level
Changing my diet and exercise frequency is a work in progress
     View Results