First of all, congratulations! Getting married is a wonderful experience and such a special time. But of course, first comes the engagement. No matter what kind of engagement you’re planning, the ring is a key component.
With that in mind, you might find yourself wondering how much should you spend on an engagement ring. The cost of an engagement ring is a big consideration when making such a monumental decision.
You want to be sure you get a ring your partner will love, but also a ring that won’t leave you with an empty bank account.
How Much Should You Spend on an Engagement Ring
If you’re looking for an engagement ring you’ve likely heard the 2 to 3 months salary price point. This is not an actual rule. You can look at typical spending on rings from year to year, and the average cost of an engagement ring can run upward of $7000.
Even though the “average” might be placed at $5000 to $7000, the median generally falls around $2000. You can find a ring at your price point, you just need to decide where that point lands.
The cost of an engagement ring varies greatly depending on the ring your soon-to-be fiance wants. What type of style ring? Do they want to look at princess cut engagement rings? Or are they looking for an oval cut vintage ring?
Buying an engagement ring should be an exciting occasion. So the most important thing to consider with engagement ring prices is how much you’re comfortable spending.
The Right Ring for the Right Person
Engagement rings come in a wide range of prices and styles, and you want to pick one that works with the person who will wear it. Knowing what kind of ring your partner is interested in will help give you an idea of future prices.
Are they interested in a big, solitary diamond ring? Or are they more interested in a different gemstone like a sapphire or ruby? Once you know the kind of ring you’re looking for, you can find the right place to look for a ring that matches your needs and your price.
Another question you’ll need to answer is if your partner wants a say in the ring decision. Will they want to pick out a ring with you? Or should the proposal be a surprise?
Either way, you may also want to plan the perfect proposal. And that could be done before or after you have the ideal ring. What is most important is that you both are happy with the outcome.
To Have and to Hold
After all of this, you won’t need to wonder anymore about how much should you spend on an engagement ring. Find a price that works for you, and know the type of ring your partner wants. Once you know those two things you can find the perfect ring.
There are a lot of places to buy an engagement ring in today’s world. Any quick search on the internet will provide innumerable options for you to choose from. So go get that engagement ring, and live happily ever after.
Congratulations and good luck with your search. If you found these tips helpful, check us out for more great information.
