Alternatives to Engagement Rings

6 Big-Picture Alternatives to Buying an Engagement Ring

June 5, 2012

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Wedding fever has spread at Sugar HQ, and while I was researching some prenuptial figures, I came across an interesting quote in a piece by the New York Daily News: "I hear brides saying, 'I don't want the engagement ring. I want the house,'" said Kathleen Murray, former deputy editor of The Knot.

What an intriguing notion! If savvy brides could forgo the enchanted ring, think about the possibilities your soon-to-be household could attain. We know the average cost of an engagement ring in 2011 was about $5,130, so I've rounded up big-ticket items essential for starting a new family that equals your future finger bling. What'll you want more?

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by Diana Nguyen 2

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2 Comments

chas-w 5 days 16 h

One thing many couples ought to consider is saving money on the wedding ceremony instead of the engagement ring (or both). The average price for a wedding is many times more than the price of the engagement ring, and what is the monetary value of the ceremony the day after the wedding? You may have a video and a photo album to show for the thousands you spent. How about a down payment on a house instead? What a lot of young people don't know is that until a few years ago, the average wedding cost was about 1/10th of what it is now. You can have a fantastic wedding for $1,500 if you want to. It's the ceremony, the music and the vows that make the wedding special. The expensive catering, extravagant parties, limos, hotel suites, etc. aren't really necessary, for a beautiful and meaningful marriage.