Where you buy your wedding jewelry is a big decision. It's not every day that you make such a large, meaningful purchase – after all, you'll be wearing your wedding ring sets day in and day out for years to come.
Even when your search is focused only on affordable engagement rings and wedding bands, it's not an investment you want to make lightly.
Before you fall in love with any wedding ring sets and get caught up in the moment, it's a good idea to sit down as a couple and come up with a plan to pay for them.
- What is your realistic budget?
- When is the best time for you to make the purchase?
- Is a layaway payment plan best for your timeline?
- Are you using a credit card or another payment method?
- What are the extra costs you need to figure in (deposits, interest rates, other fees)?
A mistake that many people make with a major purchase is to opt for a store-branded credit card that promises low interest rates – but those rates jump dramatically after a set period of time.
A recent Reuters article stated:
"U.S. retailers dangle enticing bait to sign up for store-branded credit cards but biting could be a costly decision for consumers, particularly for pricey items like engagement rings, computers or dining room sets that may take months, or even years, to pay off.
A recent analysis of 64 cards from 42 retailers by CreditCards.com (creditcards.com) found that the average interest rate for a store-branded card is more than 23 percent. Jewelry chain Zales topped the list with a rate of 28.99 percent, followed by office supply store Staples at 27.99 percent. The average credit card has an interest rate of 15 percent."
The Zales in-store credit option can look appealing at first glance to couples looking for affordable engagement rings and wedding ring sets.
But it's important to read the fine print and be realistic about how long it will take you to pay off a big-ticket item. Will you have to carry a balance on the store credit card? For how long?
If you're paying a high interest rate for months or years, you'll end up spending far more than you've budgeted for over time.
Compared to the Zales in-store credit option, the My Trio Rings layaway plan is a more practical and economical choice for couples on a budget.
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With our free layaway plan, you get your dream wedding ring sets without out stress or worry:
- No down payment
- No interest
- No fees
- A customizable payment schedule to fit your budget
Divide the payments into weekly, bi-weekly or monthly payments in the way that makes the most sense for you. Once you have made all the payments, we'll ship your rings!
