Pop the question at a zero interest rate4 of 6Think financing is difficult? Getting engaged can be a scary and expensive endeavor. Losing the commitment jitters is one thing, but coming up with the money to buy a ring is quite another. If cash is short, you can finance an engagement ring through the jeweler or rely on unsecured personal loans on your own. Still, retailers are more apt to offer zero percent financing for a period of time, assuming that you pay it back in the allotted time, says Day."Follow all the rules with zero interest offers," Day says. "If you financed an engagement ring interest-free for six months and it's not paid off at the end of six months, huge interest has been accumulating in the background." Related Articles:When it pays not to scrimpDebt pay-down calculatorSaving in the recessionSilly borrowing behaviorsRelated Links:Comparing loan optionsCutting back to get aheadThe simple art of budgetingPain lingers from cash advance advertisement
Think financing is difficult? Getting engaged can be a scary and expensive endeavor. Losing the commitment jitters is one thing, but coming up with the money to buy a ring is quite another. If cash is short, you can finance an engagement ring through the jeweler or rely on unsecured personal loans on your own. Still, retailers are more apt to offer zero percent financing for a period of time, assuming that you pay it back in the allotted time, says Day.
"Follow all the rules with zero interest offers," Day says. "If you financed an engagement ring interest-free for six months and it's not paid off at the end of six months, huge interest has been accumulating in the background."
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.