This is no engagement ring. Instagram/Fred and Far

Why wait for someone else to put a ring on it when you can do it yourself?

That's the idea behind the Self Love Pinky Ring, a new jewelry concept dreamed up by Melody Godfred and Samira Far of Fred + Far, Racked reports. 

The ring is meant to remind women to love themselves — and to take time out of their busy lives to actively nurture this love. Godfred got the idea last year, when she noticed that her own commitment to herself was lacking. 

"By early 2015, I had hit every milestone: education, career, marriage, mortgage, motherhood," Godfred wrote on the company's website. "But with each one my commitment to others grew, while my connection with myself dissipated. What made me happy? Who was I after all the labels were stripped away? So I decided to wear a new ring on a new finger."

That's when the idea for the ring was born. 

Here's the "Pinky Promise" that comes with each purchase: 

The business officially launched in April 2016, and it's already caught the attention of celebs like Amber Rose and Lucy Hale. Each ring features a 1.5-karat lab-grown sapphire, and the band comes in a choice of sterling silver ($150) or 14-karat gold ($325).  

"Unlike an engagement ring, which requires being chosen by another and can only be worn by a select group of women, this commitment ring is one that can be worn by any woman, at any stage in her life," Far told Racked. "The beauty is that these two commitments are not mutually exclusive, and in fact we believe committing to yourself makes you a better partner."

Shop Fred + Far's ring collection right here.