Should I propose with an old fiancee's ring?

[Guest]

Hi,

I don't really know the protocol for something like this but here it goes. There is a wonderful woman in my life that I want to marry and we have been together about a year and a half. I have been engaged before (2+ years ago) and still have the ring. Since engagement rings are difficult to sell once they have been purchased I just held on to it.

 

It is a very nice ring and the easy math says I should just make things simple and use the same ring. My current girlfriend knows I was previously engaged, but does not know that I still possess the old ring. I know this is kind of taboo, but I have some minor debt and teachers don't make a whole lot of money. I could buy a new ring and put us both further in debt. What should I do? I need some honest, unbiased opinions.

 

Thanks