Wedding Week: HawaiiUSA Federal Credit Union has tips to help get the perfect ring

One of the major elements of a wedding proposal is, of course, the engagement ring. HawaiiUSA has some tips to help you afford that perfect ring.

Start early.  In an ideal world, you would want to take the time to get an idea of how much you are planning to spend and decide how much money you will need to save. Goal setting is always a good first step when making a large purchase, whether it is an engagement ring, buying a car, or going on a vacation. Planning and creating a budget will also come in handy when planning for the wedding. The average engagement period is 18 months, not much time to save and plan for the big day.

The rule used to be “the ring should cost two months’ salary.” Instead look for a ring that makes sense for your situation and most importantly something you can afford. Once you figure out how much the ring will generally cost and timeframe, you can calculate how much you should set aside each month. You want to be as realistic as possible when creating your savings plan.

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