How to Set Up Your Diamond Engagement Ring Budget

You’ve finally decided to propose to your sweetheart, and you can’t wait for the moment you slip a sparkling diamond engagement ring on her finger. Or perhaps you’re the sweetheart in question, and you and your partner are determined to pick the perfect engagement ring together.

No matter what boat you’re in, there’s a crucial step you’ll have to take before you can start Tweeting pics of your new ring…


And that’s setting up the diamond engagement ring budget!

Whether you’re terrified of looking at how much you’ll have to spend, or you haven’t the slightest clue as to how much money you have to put towards that engagement ring, not to worry. This article will detail how you can set up your diamond engagement ring budget.

Be Honest About Your Financial Situation

Let’s face it: everyone wants the massive diamond engagement ring purchased straight from the counters of Manhattan’s finest jewelry stores. But that isn’t always a reality for couples – and if your finances won’t allow for it, you shouldn’t put yourself in debt to make it a reality.

Ultimately, designing the perfect diamond engagement ring budget is about understanding your financial situation, and how much you can realistically put towards the ring. Don’t count credit cards in this tally, as you’ll want to stay out of debt for as long as possible (you’ll have plenty of opportunities for debt once you actually start planning the wedding!).

Decide Who Will Contribute What

If you and your partner are shopping for a diamond engagement ring together, you’ll need to decide how much you’ll contribute to the cost of the ring. Remember, you should only contribute as much as you’re comfortable with, as you don’t want to end up starting your married life with a massive credit card bill.

Again, it’s important to emphasize being honest with your partner. If you can contribute $2,000 and your partner can only throw in $500, don’t say it’s okay if it’s really not. Diamond engagement ring shopping will test your ability to be honest with each other.

Decide on a Firm Number

Finally, it’s best to decide on a firm number for your diamond engagement ring budget. This firm number will prevent you from buying a more expensive ring, which in turn will leave you feeling a lot better about your finances.

Setting up a diamond engagement ring budget will help you find the perfect ring without going into debt over it!

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