Are diamonds more of a frenemy to the financial lives of young couples — rather than a girl’s best friend?
Other couples in America are putting less emphasis on diamonds. Nearly one-in-four millennials said they would have no problem selling their engagement ring to pay for a house or college. It sounds romantic, but young couples in America are actually putting less emphasis on diamonds. Nearly one-in-four millennials said they would have no problem selling their engagement ring to pay for a house or college, according to a recent survey by WP Diamonds.
This man wrote to MarketWatch to ask whether it was appropriate to ask his fiancée to leave her diamond engagement ring to his daughter. give her something else for your engagement or remain single. Don’t give her a ring with conditions attached.”) But his question suggests that more people are, perhaps, aware of the rising cost of diamonds.
Diamond rings can become the subject of a tug of war if the relationship breaks up. Last year, a young lawyer in D.C. sued his fiancée for the $100,000 4.06-carat engagement ring he gave her. There’s also good financial reason to ditch the diamond ring altogether and, say, put the money in an account to save for a home or start paying off other debts. Outstanding student loan debt totaled $1.46 trillion in the fourth quarter of 2018, up $15 billion on the previous quarter.
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