When it comes to engagement rings, most couples debate over style and size. But one caller yp "The Ramsey Show" recently raised eyebrows with a much bigger question: should he spend $10,000 or $70,000 on a ring?
Ramsey personalities George Kamel and John Delony weighed in, and their reactions shed light on how people approach money, priorities, and big-ticket purchases.
A Caller With a Unique Problem
The caller, Donald, explained that he had been dating his girlfriend for five years and was preparing to propose. His choice came down to a $10,000 lab-grown diamond or a $70,000 natural diamond.
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Unlike many callers to the show, Donald wasn't struggling with debt. In fact, he shared that he earns about $80,000 from his job and an additional $200,000 in dividends from shares in his father's business. On top of that, he has around $1 million in liquid assets across investments and savings.
Still, Kamel was quick to ask the obvious: "Donald, whose idea was a $70,000 ring?" The caller admitted it was his idea, not his girlfriend's.
An Insane Ring
Kamel and Delony questioned the motivation behind such a large purchase. Delony asked bluntly, "Why would you do this? Who are you trying to prove what to?"
Kamel called the idea of spending $70,000 "insane," especially since Donald doesn't own a home and is currently living in one of his parents' vacation properties. He said many people would likely prefer the security of a home over "a $70,000 object on my hand that I'm worried about every time I leave the house."
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Breaking Down The Finances
The conversation then shifted to how Donald manages his money. When pressed, he explained that about half a million dollars sits in index funds, $250,000 is in high-yield savings, and another $300,000 is tied to a business account that earns interest.
Kamel was struck by Donald's casual attitude, at one point saying, "Money is a fake object to you. It's just monopoly money." Donald agreed, admitting, "I don't know what to do with all this money I have."
Delony also expressed doubts, telling the caller, "This isn’t passing the smell test for me, but I mean, if you have a million dollars laying around, brother, do whatever you want to." While he stopped short of accusing Donald of being dishonest, he said spending that much on a ring is still wild.
What This Means for Others
While most people aren't choosing between $10,000 and $70,000 rings, the discussion highlights an important principle: just because you can spend money doesn't always mean you should.
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For many couples, the real question is about priorities. Would a partner prefer a high-priced ring, or would they rather see those funds directed toward a home, travel, or retirement savings?
Kamel brought up the point that, even for those with significant resources, a $70,000 engagement ring is difficult to justify, and that Donal should consider whether his partner wants a ring or a home.
The Takeaway
Donald's call was unusual, but it underscored a common dilemma: how to balance love, money, and long-term goals. Whether someone has $10,000 or $1 million, the value of a purchase often comes down to meaning, not just price.
For couples preparing for major milestones, it may be worth asking not just, "How much can I spend?" but also, "What matters most to us as we build a future together?"
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