How Much to Spend on an Engagement Ring
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The topic of how much money should be spent on an engagement ring is something that occupies the minds of brides-and-grooms-to-be, as their relationships grow stronger, albeit for very different reasons. While there are plenty of considerate brides-to-be out there who worry day and night about their significant others spending too much on a ring, there are plenty more who are more concerned that they may be sorely disappointed on one of the most important days of their lives. On the other hand, there is the overwhelmed groom who wants nothing more than to please his future wife, but is not sure how he will accomplish that given his current financial situation. Rules like “spend three months’ salary,” “spend one month’s salary to cut back”, and “spend two months’ salary since it’s in between” can be helpful for some and completely useless information for others. Here is a bit about what should go into the thought process of deciding how much money should be spent on an engagement ring.
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There is No Set Amount
In a nutshell, there is truly no set amount. If you look around the world at different cultures and various socioeconomic groups you will see an enormous price range when it comes to the cost of their engagement rings. Factor in how no two women are exactly alike and while one may be dying for an enormous stone the other might be seeking something extremely modest and simple. There are of course ways to attain a large stone for less money and vice versa, which is why it is really all about the kind of ring the bride-to-be wants. The next thing is to decide on a budget, and if need be, one will have to choose between size, color, quality, shape, or the design of the ring. Lovebirds of all ages should not be deterred by the idea of diamonds and engagement rings costing an arm and a leg, nor should they feel pressured to spending that kind of money. If it’s there and can be spent, then by all means, but if it’s not, do not go into debt over this! It will only start the marriage off on the wrong foot and will possibly follow you for years until it is paid off.
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The trend we are now seeing in the engagement-ring-price arena is that individuals are spending more on rings in general. This should by no means cause you to dig deeper into your pockets, but rather, try to make you understand why this is. For starters, ring materials have gone up in price over the years and people are therefore spending more. In addition to the rise in prices, many people are choosing to get married later in life when they are more stable financially, allowing them to purchase pricier rings.
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There are many things consumers can do to get the ring they want without breaking the bank. For instance, if color diamonds is your thing but you cannot get your ideal stone size because of your tight budget, you can look into different color gemstones that serve as fabulous alternatives. Many diamond companies know they have a diverse clientele with various needs and therefore offer gemstones alongside diamonds in order to provide something for everyone. Set in a stunning platinum setting surrounded by small colorless diamonds, a sapphire or a ruby can be a stunning replacement for rare and pricy blue and pink diamonds.
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It should no longer be about “how much” but rather “which ring.” Time shouldn’t be spent marking off the rings that are not affordable or counting pennies. It should be spent scouting out the styles you want that incorporate various “tricks” that can help minimize the price while getting you the exact look you are after.
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