How to Get an Engagement Ring When Broke

Are you flat broke, but rich in love? That's how many an engagement begins. If there's one area in life where every man feels pressure to perform, it's when he gets down on one knee and opens the box for his intended. This is supposed to be the ultimate symbol of your love---and the state of your wallet. You can't get around the fact that a piece of jewelry advertises what you can afford, so no wonder there are men who put off popping of the question because even their piggy bank is busted. The "two months' salary guideline" that's been toted in commercials can strike fear in the cockiest of Romeos. Once you accept that it's going to take time to put money aside so you can at least make a down payment, you can get started.

Instructions

Ways to Finance Your Engagement Ring

1. Set a budget. Yes, even if you don't have any money saved, determine a reasonable budget for your lifestyle. Forget about the sparklers at Tiffany's and Cartier. A $30,000 rock is far beyond your means. There is nothing wrong with a ring that costs $2,000 or $1,000, as long as it is beautiful and of good quality. Your girl isn't going to wait 10 years while you save up for that diamond you keep promising to buy. Figure that you want to have at least 10 percent of your ring budget in hand when you make the down payment.

2. Borrow money from your father or other male relative who can lend it to you interest-free. Set up repayment terms you can stick to. Again, follow your budget, even if Grandpa Mr. Nice Guy offers to double the four grand you're asking for. People tend to spend more than they can afford when they borrow and regret it later.

3. Cut back on your spending. You can go as extreme as you want with this scenario. You can give up a night out per week, can't you? You can start bringing your lunch to work and washing your car by hand. If you're really serious about getting the cash rolling in, you'll cancel that gym membership you never use that costs $120 per month and hold off buying those new car rims you don't need. You get the idea. This behavior also serves as a good practice for saving money in general.

4. Pick up a second job. If you pulled in $50 extra per week delivering pizza, that's 200 bucks a month, which equals $2,400 in a year. In three months you'll have enough money for a suitable down payment. Or do one hour of overtime each day at work and sock it away. When she finds out you worked longer hours to make sure she had a nice ring, she's going to, ahem, repeatedly show you her appreciation.

5. Even if you come from a modest background, ask your mother or grandmother if there is a piece of jewelry in the family that is appropriate for an engagement. You never know, and they can't help you if you don't ask.

6. Buy a less expensive birthstone ring or any other beautiful piece that fits her taste, and when you propose, promise to upgrade to a diamond or whatever stone she chooses by your fifth anniversary. This way, she gets two rings in the bargain.