Monday, January 30, 2012
Appreciating the Two Month Salary Rule
Until recently I have thought the De Beers marketing campaign 2 months salary guideline for an appropriate cost of a engagement/wedding ring to be a ridiculous standard. Lately I'm beginning to appreciate a benchmark based on the groom's current salary.
Yet another set of takanot are being reported in effect. Once again they claim to "save" families thousands of dollars. My father would respond, you aren't saving when you are spending. And spend they do. Even at the reduced rates, families of the listed Chassidish sects are instructed to spend a hefty sum: gifts should not exceed $2,675. Yes, this amount is much reduced, as is are all the other myriads of expenses from shadchanus fees ($990) to flowers for Shabbos ($135) to the actually costs of the wedding.
Of interest: my past post A Study in Wedding Takanot Differences.
I believe these takanot are to help curtail the debt incurred upon engagement/marriage. Yet benchmarking the spending, even if it is far lower, does not cut debt. Those without the funds will still be without the funds. Which brings me back to a regular message, the culture of debt is the real culprit.