- 3 mins
FAITHFUL PLATFORM • OP-ED
“For better, for worse, for richer, for poorer…”
Anyone who has been to a few wedding ceremonies is all too familiar with the classic line found in the traditional marriage vows. These vows signify the moment two become one, but most of us who have been married know that there are many decisions the “two” make separately that impact the “one”, especially when it comes to finances. The practice of wise stewardship isn’t something that a couple starts doing together to benefit their marriage, but something that must take place long before “I do”.
Marriage often intertwines both hearts and bank accounts, as two people must now learn to function and make decisions together as one unit. Most couples experience the reality of this when they start wedding planning and budgeting together.
Statistics paint a sobering picture of newlyweds and debt. According to a recent study by LendingTree, around 45% of couples carry debt into their marriage, with an average debt of over $20,000. The weight of this financial burden can strain relationships and discourage newlyweds trying to build a solid foundation for a fruitful marriage. While many factors contribute to this debt (student loans, rising interest rates, etc.), one of the major sources is often the engagement ring and wedding costs.
While the engagement ring is usually a purchase a young man is making on his own, the tendency to overspend on this somewhat overwhelming purchase can leave couples in debt before they even make it to the altar. However, we know that it’s possible to get the exact ring she wants without compromising on a wise and healthy budget.
Our company, Faithful Platform, was born when Austin Willard, Founder CEO, was working in college ministry and saw firsthand the number of young men buying overpriced engagement rings from big-box stores, simply because they weren’t properly educated on the purchase. Austin, having grown up in the jewelry industry, knew how sleazy the business could be and saw the exorbitant retail markups on rings directly impact his friends trying to pursue marriage.
Today, our team has served couples all over the world and saved them thousands of dollars on one-of-a-kind engagement rings, wedding bands, and anniversary gifts. We operate online and our custom design model allows us to save a tremendous amount of money compared to traditional brick-and-mortar retailers. We pass those cost-savings on to our customers to truly live out our motto: "Save on the ring, invest in the marriage."
Wise stewardship begins long before the vows and we take pride in our ability to help couples be good stewards of their resources. Faithful Platform clients get customized diamond engagement rings and money back in their pockets to use where it’s needed most. For some couples, that’s more money in their wedding or honeymoon fund. For others, it's paying off student loans or saving for a home. We are extremely passionate about building healthy marriages and are excited to help newlyweds build a firm foundation by saving them money on some of their first joint purchases.
