4 Lessons My Wedding Ring Debt Taught Us – Build Your Marriage On a Good Foundation

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My wedding ring was a debt my husband had when we were engaged, but he paid it off fully before we got married. I would like to say I motivated him, but isn’t that what all women would say? Please laugh with me! Here are 4 tips to pay off a wedding ring!

1. Be Determined

I love when he tells the story, because this was his first real experience with paying off debt quickly because he had it in his mind that he was not going to pay interest on my wedding ring.  (He did not pay one penny in interest!)

You must be determined to get out of debt, and build your wealth.  Seek the Lord daily and commit to your why. When you seek the Lord daily when you are digging yourself out of debt it makes it way easier! Trust me! We have been in your shoes.

2. Why didn’t he just pay cash? 

My wedding ring was around $4,000.  To some you might think, that is not a lot.  Why didn’t he just pay cash? 

Well, my husband was not a saver at the time I said, yes to being engaged to him and marrying him.  As we were dating we talked a lot about finances and I knew he had goals and was not in deep debt.  He had student loans and a small car loan.  This was easy to knock down I thought to myself.  I did it myself, and that was on one small income.  I knew we can do it together. Well so that’s what we did! Read those stories here about car debt and student loan debt.

He did not have the cash to pay $4,000 at the time, so he had to start somewhere with it.  This is a good thing though.  He was building his credit little did he know. 

It is okay if you do not have the cash to buy something that you might “want” right away. Be sure you look for a deal, which brings me to my next point.

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3. Find a good deal

My husband worked at Kroger so he received a good deal on my ring.  It was on sale plus he received a discount for being an employee.  Bonus points ladies in my book!  I love sales and I love a good discount on things that we are going to end up buying. He won my heart here! 

Finding a good deal when you are buying something that it over $1,000 is a must! You must research. You must look. Wait awhile I like to say and think about it before you pull the trigger.

My husband was quick to get a ring, but we always joke that I was even quicker to set a date to get married. We thought a full year of engagement, but I was like nah, just do 5 months.  It will be plenty of time for our family to book flights and come to the wedding too. 

4. If you go with a store credit card, play the no interest game and leave it open 

My husband also got my ring when there was a credit card deal at the jewelry store.  He signed up for the credit card, which is the only credit card in his name folks. It was a credit card where he received 0% interest for 12 months, so the payments came to about $125 because they want you to of course pay interest. But that is crazy talk when your future wife is a finance nerd and is all about building wealth for the Lord to share and give and love others to the fullest. 

Side note: My dream in college was to be able to give my car to someone, and I did that! 

My dream now is to be able to help people live in a place they call home and pay reduce rent. To be able to give practically a home to someone to help them build their own wealth. I will do this soon too! I know it!

Back to the ring though.

My husband divided the ring up into 12 months and paid that amount of the payment each month.  It was around $300 each month that he paid.  For him, this was super affordable and he could do it.  I remember celebrating with him that he had paid off my entire ring before we said, “I do!” this was pretty amazing!

We were also in the midst of paying cash for our wedding too! 

If you have to buy a ring and do not have enough saved up for it.  Be sure to search for a jewelry store that might have this kind of offer with a credit card.  However, you must be responsible with the credit card to not pay interest on it.  You need to figure out what the amount is in the period of time that is it zero percent interest and pay that amount.  Do not just pay the minimum because then when the zero percent interest is up it will probably go up to 24% interest or something ridiculous. 

He still has the credit card too, but now it sits in a drawer and it has nothing on it.  Plus we keep it open since it will not hurt his credit score that way. 

That is another tip too – credit cards – leave them at home so you are not tempted to use them! 

Lessons learned from our wedding ring debt that you can learn too:

  • A deal on credit cards with zero percent interest can help you
  • To get out of debt, it can be hard but I promise you it is worth it!
  • Pray daily for miracles to happen and ask him how you can bless other people 

I pray for you to be able to find someone who is wanting to be out of debt with you.  Life does not need to be a life full of debt your entire life.  Trust me!  There is more to life than that.  God wants you to use his wisdom and knowledge to get out of debt.  The journey is not going to be easy, but climbing out of that debt will be the best choice of your life once you are out! 

If you know someone single, pin this post for them.

If you want a change in your life, like this post.

Pin this post if you want your debt to go away.

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