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We hate to be the bearer of bad news, but you can’t pay for a wedding ring with a song and a dance. If you can, you probably aren’t reading this list. Hey, rings are expensive. The average engagement ring cost? Roughly $5,900!

Granted, one option here is just searching for more affordably-priced women’s wedding rings. However, if you have your eyes (and heart) set on that one ring, it can be hard to let it go. Absolutely set on that ring you’ve been eyeing since you knew they were the one? With a little work and financial creativity, you can make it happen!

Save Your Pennies and Take Your Time

Not the sexiest option, we admit. However, it can pay dividends if you’re patient and proactive. While it won’t always work, you can sometimes get discounts for paying in cash and in full. When we say cash, we mean those physical green Benjamins, not credit cards. Credit cards usually charge about three percent in fees, so if you save the business that fee, they may throw you a discount.

If you need the ring like yesterday, this won’t work. If you’ve got some time to spare, consider saving every extra dollar and putting it into a ring fund.

Cut All Non-Essential Spending

Yes, this isn’t particularly exciting either. This works, though. If you like the first option but need to speed the timeline up, go beyond just saving your extra pennies. Cut your spending to the bone. We’re talking no restaurants, bars, trips or unnecessary expenses. It’s water and ramen for the time being. Sorry.

If you can handle the no-frills lifestyle, this is a great way to get some serious extra cash (and track how much you really spend).

Use a Credit Card

Look, this is a tricky one. More than half of Americans carry a credit card balance from month to month. If you’ve got good credit, this will be easier for you. If you’ve got a decent amount of the cash to pay with already, that’s even better. Do some serious homework before going this route.

If you’ve got good credit, you can finance the ring at a lower interest rate. If you don’t? You can still do it, but it isn’t going to be as pretty. Know what kind of limit you have on the card you plan to use beforehand or you’ll be in for an awkward interaction at the jeweler.

use a credit card

Another option is to apply for a credit card with some sort of intro bonus. If you can get a few hundred dollars back after spending a couple thousand or more, that’ll help. If you find a card that offers an intro APR of 0 percent, take advantage of that and pay it down during the promotional period.

Whatever you do, be aware of your current debt before going into more. Your credit score gets hurt if you use more than 30 percent of your available credit, so also take that into account. Your best bet if going this route is to throw as much money as quickly as possible at that balance.

Take Out a Personal Loan

This is becoming a more popular option, for better or worse (no pun intended). If you know you’ll be paying off the credit card option forever, personal loans tend to offer you a lower APR than credit cards. The average personal loan is a bit under 10 percent APR while the average credit card hovers around 16.5 percent.

Again, do serious homework before going this route. Look out for extra fees assessed on new loans. Make sure you also qualify for the loan you want (some loans are only for particular uses). If you know you’ll be paying it off for months or even years, this may be a wiser choice than a credit card.

Point of Sale Finance

You’ve likely seen this several places before as it’s becoming more popular, though it’s been around forever. Finding a vendor that will offer POS financing can be a great option. POS financing will often offer low rates, even down to 0 percent. As with all things credit, the better your score, the better terms you’ll get — aka don’t bank on 0 percent with a 540 credit score.

Vendors will offer you POS financing at checkout with services like Klarna, Affirm or Bread, among others. If you can’t pay in full, this may be your best choice if you qualify for a low rate.

Side Hustles

Yes, there it is — the ever-popular side hustle. If you’re less interested in extending payments than making more money (which is almost always the better option), this is what you’re here for. You could even take out a low-interest loan of sorts and use a side hustle to pay it down quickly after the fact if you wanted.

Ways to Pay for an Engagement Ring

If you’re looking for inspiration, here are a few popular side hustles and income ideas:

  • Data entry
  • Freelance writing and editing
  • Social media marketing
  • Transcribing
  • Selling stock photos
  • Virtual assistant work
  • Driving for rideshares or delivery services
  • Build a website
  • Teach a language online
  • Resell in a niche you know about
  • Airbnb/VRBO
  • Rent out an extra room

Who knows? Maybe these will become profitable enough to become their own full-time source of income!

Your partner (hopefully) prefers a modest ring and a lifetime of financial stability to a ring you can’t afford. As cliché as it is, it really is the thought that counts!