How Much Should You Spend On An Engagement Ring?

Buying a diamond engagement ring can be a scary business. After all, not only are you selecting a piece of jewelry that’s meant to symbolize your love for your sweetheart for the rest of your life (scared yet?), but a high-quality diamond engagement ring can be one of the biggest purchases you’ll ever make.

In other words, buying a unique diamond engagement ring is something that you want to get right the very first time!

Solitaire Diamond Engagement Ring

You may know what your sweetheart’s dream engagement ring looks like – but when it comes to purchasing it, how much should you really spend? Should you stick to the “two months’ salary” adage, or should you break this traditional rule and instead go with your gut?

Here’s the short answer: it’s a combination of both. While spending two months’ salary on a perfect diamond engagement ring works for some men, it might interest you to learn that the two months’ salary rule was first started by a De Beers advertising campaign during the 1920s. Therefore, two months’ salary won’t necessarily guarantee that you’ll get a high-quality diamond engagement ring – and there are plenty of engagement rings that are just as beautiful for half of the price.

The only “rule” that you should follow when purchasing a ring is the 4 Cs rule – cut, color, clarity and carat. These factors will have the biggest influence on how much the diamond engagement ring will be. So if your sweetheart dreams of a two-carat princess-cut ring, then you should expect to pay a few thousand dollars to procure her dream ring. If, for example, she wants a one-carat solitaire engagement ring, then you’ll be looking at a price range of $800 to $1,500, depending on the retailer. Shop around to find the best deals, and don’t be afraid to look online – these vendors often purchase their diamonds directly from the manufacturer at wholesale price, which significantly cuts down on the overall cost of the ring.

So when it comes to how much you should spend, what’s the final answer? Simple: tell you sweetheart your budget and take her ring shopping with you!

Let’s face it: if she’s got a dream ring in mind, then you’ll win brownie points by allowing her to pick out her own ring. It’s a win-win scenario – she gets to select her perfect diamond ring, and you can have some input as to your budgeting needs!

To add some romance to ring shopping, don’t reveal to her that you’re about to select an engagement ring until you’re at the shop or online. She’ll be so impressed by your spur-of-the-moment gesture – not to mention pleased that she can pick out her own ring – that you’re guaranteed to get a resounding yes!

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