Cartier ring or continue saving....

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kimcruz41

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Nov 29, 2017
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#1
Cartier love yg ring or continue saving.. my savings is currently at 10,000 I am 23 and I have been saving since I was 18. All through college I worked and saved. I graduated this year and have a stable good paying job for my age. I am 2 car payments away from paying off my car and I am about $1,000 in debt. I want to take the plunge and I know I can continue saving but I also know 10,000 is not much by any means..


What would you do?
 
#2
Congratulations on saving $10k! That's an accomplishment to be proud of.

You asked, "What would you do?" I know this is not going to be the answer you want to hear, but I would pay off my car, pay off my debt, and put the rest of it in a savings account.

If you want a nice ring, take a couple of hundred dollars and find an amazing vintage ring on eBay, etsy, etc. You'll have something far more original than if you'd bought a Cartier Love, and you'll have thousands of dollars in the bank. That's money that can go towards repairs if your car breaks down, towards an unexpectedly high vet bill, towards medical emergencies and covering your rent if your company goes under and you lose your job and a hundred other things that can happen to you. We all want to hope the best will happen -- but we have to prepare for the worst.

You're 23 and you've set yourself up for a great financial future. Keep at it!
 
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#3
Kittentoes said:
Congratulations on saving $10k! That's an accomplishment to be proud of.

You asked, "What would you do?" I know this is not going to be the answer you want to hear, but I would pay off my car, pay off my debt, and put the rest of it in a savings account.

If you want a nice ring, take a couple of hundred dollars and find an amazing vintage ring on eBay, etsy, etc. You'll have something far more original than if you'd bought a Cartier Love, and you'll have thousands of dollars in the bank. That's money that can go towards repairs if your car breaks down, towards an unexpectedly high vet bill, towards medical emergencies and covering your rent if your company goes under and you lose your job and a hundred other things that can happen to you. We all want to hope the best will happen -- but we have to prepare for the worst.

You're 23 and you've set yourself up for a great financial future. Keep at it!
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You yes so right! Thank you for the much needed reminder ☺️
 
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#5
you should be so proud of yourself, you have done great! :tup:
likewise, I am quite the saver since young and like you, I had this item which I had in mind to buy when I was around your age and it was a Rolex watch. like what @Successful&Me said, you should have 2 accounts, one purely an account which you try not to take money out from and one for play and stuff- that was quite exactly what i did.
So by 25, I hit my goal of having saved 20k, and another 12k in my 'fun account' so I could buy the watch. now 7 years later, that watch remains one of my best buy ever, and to me a monumental achievement that I can look back on.
So I say, continue to save and buy the Cartier ring when you are more than ready, you will receive so much joy that way. Good luck :flowers:
 
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#6
Elegantlytwist said:
you should be so proud of yourself, you have done great! :tup:
likewise, I am quite the saver since young and like you, I had this item which I had in mind to buy when I was around your age and it was a Rolex watch. like what @Successful&Me said, you should have 2 accounts, one purely an account which you try not to take money out from and one for play and stuff- that was quite exactly what i did.
So by 25, I hit my goal of having saved 20k, and another 12k in my 'fun account' so I could buy the watch. now 7 years later, that watch remains one of my best buy ever, and to me a monumental achievement that I can look back on.
So I say, continue to save and buy the Cartier ring when you are more than ready, you will receive so much joy that way. Good luck :flowers:
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I agree! I do have a checking account that is for bills/gas/everyday small purchases and my 10k are in a savings aside from that I will open a play account it should help with administration! So excited to one day buy that ring! Thanks everyone
 
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#7
kimcruz41 said:
I agree! I do have a checking account that is for bills/gas/everyday small purchases and my 10k are in a savings aside from that I will open a play account it should help with administration! So excited to one day buy that ring! Thanks everyone
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I know we will all be excited to see you with that amazing ring one day. Good luck and keep on going!! :drinks:
 
#9
kimcruz41 said:
Cartier love yg ring or continue saving.. my savings is currently at 10,000 I am 23 and I have been saving since I was 18. All through college I worked and saved. I graduated this year and have a stable good paying job for my age. I am 2 car payments away from paying off my car and I am about $1,000 in debt. I want to take the plunge and I know I can continue saving but I also know 10,000 is not much by any means..


What would you do?
Click to expand...

Yolo, you’ve done great, graduated, saved some. Buy the ring. Lol
 
#10
I would say pay off your debt and your car and get the ring as a graduation - getting a job gift! Then keep saving... I assume you are single and with no kids? I don't know your specific situation or how life in the USA is, like student loans, health care and all that... How much is the ring in the USA? But if you have the money and no debts and it would only be a small portion of your savings I would say get it and enjoy it! Life is now! Good luck!
 
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#12
celine4 said:
I would say pay off your debt and your car and get the ring as a graduation - getting a job gift! Then keep saving... I assume you are single and with no kids? I don't know your specific situation or how life in the USA is, like student loans, health care and all that... How much is the ring in the USA? But if you have the money and no debts and it would only be a small portion of your savings I would say get it and enjoy it! Life is now! Good luck!
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I am thinking of doing that! Paying off my car in less than 2 months. Pay of my debt in about 3 months and then buy the ring. I live at home I have no kids and I do not pay rent. My only bills are my car, insurance, and phone bill. I do feel like i am in a good place. Once I have kids, move out, will i really see myself spending 1,650 plus tax on a ring? without having to think of many other things I could be using that money for. Then again I can always save separately. I am going to hold off, for now, I don't think a ring should be causing stress lol Thank you for your comment!
 
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#13
I'd pay off the car, pay off the debt and buy the ring as a reward for all those years of hard work in school/graduation gift and landing a stable job. My aunt who was a big on luxury items used to always say, "Necessities first, designer after." After I paid off my school loan, saved some, and landed an amazing job that was financially stable, I rewarded myself with the Love Bracelet but not by sudden splurge but with the help of saving up for it.
 
#14
You are right, a ring or any other purchase shouldn't cause stress or worry, buy it when you are ready and when it feels good! I think you are in a good place now and after you pay all your debt then you are free to buy or not the ring! Good luck!
 
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