Buying an engagement ring

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Listing Information
Amount: $11,000.00 Status: Loan created
Grade: AA DTI: 11%
Lender Rate: 10% Borrower: eprometheus
Time Left: Finished State: NY
Funded: 100% Group: (No Group)
Loan Information
Loan Status: Current Origination Date: 2007-07-06 EricsCC ROI: 8%
Status History
Jul 04, 2007 Current
Purpose of loan:
I will be using the loan to purchase an engagement ring. Thank goodness Prosper makes this easy, now I have to decide what kind of cut, clarity, grade, and ring I should get.

My financial situation: 
I keep my debits low and live below my means. Why then do I need a loan? I contribute 20% of my check to my 401k and am saving up for the wedding. I also have excellent credit. 

Monthly net income: $ 3,300
Monthly expenses: $ 2056
  Housing: $ 550
  Insurance: $ (job covers it)
  Car expenses: $ 76 (metro card)
  Utilities: $ 45
  Phone, cable, internet: $ 85
  Food, entertainment: $ 600
  Clothing, household expenses $200
  Credit cards and other loans: $ 500
  Other expenses: $
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