How Much Should You Spend on an Engagement Ring July 17, 2021 – Posted in: Blog

If you feel ready to take your commitment to the next level, it is time to do some research before heading to the jewelry store. An engagement ring holds more than monetary value. It symbolizes the bond to a lifelong promise of care and love towards someone very important. Although engagement rings have evolved over time, the symbolism has remained the same – eternity. A special occasion such as a proposal needs to be crowned with an equally special item. Although buying an engagement ring may seem like a simple task, it sure isn’t. With so many different options available on the market, it can be tricky to pick that one special piece. Besides, how much should you spend on an engagement ring? There are so many things to consider before purchasing the symbol of your love and devotion. So, here are a few points that will make your shopping for an engagement ring a lot easier

Popular types of engagement rings 

According to jewelry specialists, more than 80% of couples choose an engagement ring with a diamond as a center stone. Reportedly, a round cut is the most popular. Emeralds, sapphires, and rubies are also somewhat popular choices for an engagement ring. When it comes to the cost, these tend to be slightly cheaper, but this depends on the clarity and purity of the piece. White sapphire is a good substitute for a diamond, as it is similar in color and hard enough to resist damages from everyday wear. 

Rings have a long history as a symbol of love. The stone as a centerpiece is the most expensive part of the engagement ring. However, the choice of the band matters too. Yellow gold is traditionally the material of which engagement rings are made. Equally popular are white and rose gold. How much you should spend on an engagement ring will largely depend on the preference of your significant other. Generally, the cost will be determined by your choice of stone and the metal for the band.


A man putting an engagement ring on a woman’s hand

Engagement rings seem to be popular in many different cultures


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Determine the shape of the stone

There are various shapes, otherwise known as cuts, when you look for jewelry endorsed with precious stones. So, before you embark on a mission to find the right engagement ring, do quick research on stone cuts. On the market, you will find anything from marquise shape to increasingly popular three-stone engagement rings. The cut is essential, as engagement rings are priced based on it. You should know that the classic round cuts are the most expensive ones. Alternative shapes tend to cost less. So, consider this important element when trying to determine your engagement ring budget

Decide on the metal for the band 

Knowing what to look for will make your engagement ring hunt easier. Thus, talk to your spouse to be and determine their preferences. If you would rather keep the ring a surprise, pay attention to your future lifetime partner’s style. This may give you a hint on what they like and help you envision the perfect engagement ring for them. 

As we mentioned already, the metal is a crucial element of the engagement ring that will determine its price. Hence, make a point of knowing what you are looking for. Some metals are more durable than others, and the cost of the ring will vary depending on what you choose. For instance, platinum couple rings may look silver, but the metal itself is denser and rarer. Naturally, expect to spend more on a platinum engagement ring than if you opt for other more common metal. If you know the cut of the stone and the material of which the band is made, you are all set to embark on an engagement ring shopping mission. Besides, this can be your individual guide on how much you should spend on an engagement ring, as an objective answer that applies to everyone will vary under different circumstances.

An engagement ring

There is no one size fits all when it comes to the amount of money you need to spend on an engagement ring.


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Get the correct measures

An engagement ring should be a timeless piece. It is once in a lifetime investment, well worth all considerations before the final purchase. However obvious the following may seem, smitten by the romance enveloping the upcoming proposal it is also easy to forget and completely overlook. The size of the ring matters. Purchasing a ring that fits correctly without being too loose or too tight is imperative. Albeit there are effective ways to maintain the weight with ease as time goes by, getting the right size of an engagement ring is the best way to ensure that your future spouse will wear it safely


An engagement ring with a blue stone

If you want your partner to wear the ring safely and comfortably, you have to be careful about choosing the right size.

Debunking the myths: How much should you spend on an engagement ring?

An unwritten rule about the cost of an engagement ring has become that you should reserve three of your monthly salaries for the purpose. However, this so-called rule has emerged sometime before World War II as a marketing initiative to increase sales of diamonds. Feel free to let it slide, as it is outdated and pretty unrealistic. Instead, consider your personal financial circumstances, and let your individual preferences guide you when deciding how much to spend on an engagement ring. There are plenty of options available to fit anyone’s budget, so there is no need to take a bite larger than you can chew. After all, you would not like the idea of having to pay off engagement ring debts the first few years of your marriage, would you? 

To sum up, how much you should spend on an engagement ring depends on various individual factors and circumstances. Regardless of what yours are, with the aforementioned points, you will find the perfect engagement ring to fit your budget and enchant your future spouse.


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