Quote:
Originally Posted by ranchlandsselling
You should. Your beliefs on the subject are only applicable to yourself. Money is one of the hardest things to call people out on and how they use it.
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One more thing here. Money is not hard at all to call people out on up to a point. In our society, there are some givens that you need to spend your money on (house, insurance, RRSPs, vehicle, food, clothing, taxes, utilities, etc.). After your fundamentals are taken care of, it becomes way more subjective as to what is a good use of funds, and what is a bad use of funds. I get from your post that you're saying everybody's use of money is up to them and shouldn't be judged. In fact, there are good ways to spend limited funds/access to debt and bad ways.
If we assume the OP is a younger guy on his first marriage coming from an average Calgary home (i.e. he's not rich), then the correct guidance to give would be to make sure his bases are covered before spending $10K on a ring. I think it's reasonable to say the ring should be way less than 1% of your net worth. If, for instance, he doesn't own his home and doesn't have a reasonable amount of money in RRSPs, then this ring would comprise way too high a proportion of either his net worth/debt. I knew people when I was in my 20s who the most expensive thing they owned was a wedding ring and they rented a basement suite.
Getting married typically means kids are on the way within a decade (from what I've seen, anyway). They are expensive and financial planning for them should start in the pre-planning stages of a marriage. It's the same reason why blowing your wad on a fancy wedding is a bad idea if the other, more important financial responsibilities, aren't taken care of.
If you're rich or come from money, buy your fancy ring. It doesn't make it a smart use of money, but it is affordable and that's the most important thing.