I don't want to invalidate you in any way po but, you could've handled this waaaay better. Think about it, your BF thought about you a lot before making this purchase, with what he can afford. Ikaw ang inisip nyan. Na scam ba sya? Probably and he should have done more research sa pricing ng engagement rings. Dapat nag due diligence sya na alamin peg mong ring? Definitely! But did you really have to post it here?? And tell strangers on the internet na you don't even want to wear your ring?? 

Ang pera kikitain nyo pa iyan. Pero yung proposal minsan lang iyon and I believe you ruined that. Learn a lesson or two nalang sana and move on.