Perhaps it's just me but I don't "get" this expensive ring thing.
Agree completely.
An expensive ring is "marketed" to us as a status symbol of "look how wealthy you/we/he is/are".
But unless you own outright the things that matter ( house , car, essential furniture) to me it is a symbol on how wealthy you HOPE to be. More like, "One day I hope to be able to afford this ring and own my home and car".
My wife and I got married at 22. We had just bought our first PPOR at $72.5k Engagement Ring Cost $120 and Wedding Ring cost $80. we paid for the wedding $7k all up.
Fast forward to 2013. She wears three rings, All Tiffany and Co, all worth $5k plus, all bought for significant events, 15 years anniversary, birth of child, etc and we paid cash each time.
And all bought
after we paid off PPOR, CARS etc..and PPOR is worth a lot more than $72.5k.
She treasures every ring because of the meaning that "we bought this to celebrate our great achievement in life as team and partners", regardless of value.
I think that is what matters.
A ring should be a symbol to mean something not a statement of wealth.
Remember, the wealthiest, lonely, unloved and sad person in the world can buy any ring they want to say LOOK at ME!!!. BUT, regardless of what they pay and how much it is valued, it is just a trinket.
Not wishing to offend, just how i see it, Peter 14.7