How Much Should I Spend on an Engagement Ring

You’ve now come to that point in your life where you are wanting to become engaged with your loved one. One element of this process that you’ve also probably been thinking about is how much you should be expected to fork out for this ring. Typically, there is no set amount you are required to spend as there are many rules and expectations when it comes to the price of engagement rings that can be confusing, overwhelming and particularly frustrating.

What we’ve chosen to do in this article is to put together as many different suggestions we could possibly think of and displayed them for you to easily understand. Whether you choose to propose to your girlfriend as early as tomorrow or in a few months’ time, we are confident this list will be able to guide you on your decision on how much money to spend on your girlfriend.

One Months’ Salary
Spending one months’ salary is generally used by those who are on a budget. Actually, diamond company De Beers implemented an ad campaign in the Depression Era suggesting it was more than okay to be spending one months’ salary on engagement rings because it can save money, whilst also enabling the buyer to get the ring he wants. This is certainly a win-win situation here.

The Typical Three Months’ Salary
This is typically spoken about when the topic of engagement rings and price comes up. However, it is generally a rule of thumb and will always depend on the financial position of the buyer. However, if you have the means to stick to tradition, why not go for it?!

Splitting the Difference
If you feel that one months’ salary is far too cheap, and that three months’ salary is too much, then splitting the difference and making a compromise on spending two months’ salary is a great idea. This is definitely a more favourable option if you are looking to spend a small fortune without potentially breaking the bank.

The Average Cost of a Ring…and spending it!
According to market research conducted in 2013 by the Jewellers of America, couples were spending an average of $4,000 on engagement rings in 2012. If your girlfriend is aware that you are shopping for her engagement ring, you can always ask her opinion on price and see if she is okay with this amount. It might be a reasonable amount to spend on an engagement rin, but remember it has nothing to do with your own financial standing.

Spend What You Want
Alternative to the previous suggestions you could spend what YOU think is a reasonable amount. If you really think about it, the amount spent on an engagement rings should be 100 percent up to the man who is buying it. You can take as much advice from others as you want, but remember you are the one buying the ring and not them. If your girlfriend loves you enough, the price of her ring won’t matter. All that will matter is if the ring you get her matches her style and taste. If it does match them, then she will be happy with what you have given her.
Regardless of which of these suggestions you want to go with, what you need to remember is that this ring needs to be a representation of your love and affection for your lover. It’s very much a tangible symbol of what she means to you. So while what you choose to spend is certainly a factor in your purchase, the type of ring you get should be priority over everything else.