I wasn't being completely serious with the "competition" aspect. The point was, not everything has to be a 100 percent fiscally responsible decision. Of course you don't need a 4 thousand dollar diamond and the money could definitely be spent better elsewhere, but if you can afford it, why not? If it makes your future wife happy, it's money well spent. Life's too short to be pinching pennies.
It's another story if you put yourself into debt cause you buy something you can't afford.