Just as an example, let just say the ring cost $1000.00. Divide that by 12 months, around $83.30 a month. My credit card payment is 2.5% of that, so it is about $25.00/month. I send the remaining $58.30 to my saving account to make interest for me. So at the end of twelve months I have paid around $300.00 to the credit card and have made interest off the remaining $700 sitting in the saving account. I write the check for the remaining 700 and have a few dollars from the interest I made.
Purchasing a Diamond Engagement Ring: Part I
Purchasing a Diamond Engagement Ring: Part II
Purchasing a Diamond Engagement Ring: Part III
Should you Calculate a Diamond in your Net Worth?