There are a number of expenses associated with becoming engaged, with rings often one of the largest.
According to one firm, people may increasingly struggle to fund the cost of getting such jewelry, as the price of diamonds is rising significantly.
Online retailer Diamond Manufacturers said the increases may come as a "nasty surprise" to those hoping to become engaged.
Chris Radford, chief executive officer of aap, the UK's biggest buyer of endowment policies, said some of its customers who wanted to help a child who was looking to buy an engagement ring had decided to sell their underperforming endowment policies so they could contribute towards the cost.
Could your child cover the costs of getting engaged?
Diamond Manufacturers suggested that the price of rough diamonds - which are bought and treated by businesses before being sold on - has risen by between 55 and 60 per cent since March last year as a result of a lack of supply of the precious items.
Press officer for the company Adrie van der Luijt explained that because of this, the amount it costs customers to buy polished diamonds is likely go up considerably too.
He remarked: "Rough diamond prices have increased at a record double digit percentage month-on-month within the last few months. [The price of] polished diamonds - what we and our competitors sell ... are dependent on rough diamond prices as they come from such.
"It is not only the costs of engagement rings that parents may have to provide help with.
Editor of Wedding Ideas Magazine Rachel Morgan recently said that many couples are delaying tying the knot because they cannot afford to cover the expense of the big day.
Selling an endowment may help children pay for engagements
Mr Radford, from aap, said some of its customers who wanted to help their children cover the expenses associated with getting engaged had decided to sell their unwanted endowment policies so they could provide extra money. Go for wide range of engagement rings at RoyalDesignOnline.com
For more information click the following news source link for the full story
http://www.aap.co.uk/endowment-news/...
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