How Much Should You Spend on an Engagement Ring?

Congratulations! You’ve found the one you want to spend forever with, and now it’s time to pop the question. But before you get down on one knee, there’s an important decision to make: how much should you spend on the engagement ring?

The tradition of spending two to three months’ salary on an engagement ring has been around for decades, but in reality, there’s no one-size-fits-all answer. Figuring out the right budget for your engagement ring involves considering many factors, from your financial situation to your partner’s preferences.

1. Financial Considerations:

• Start by assessing your financial situation. Consider your income, savings, and any other financial obligations you have.
• Avoid going into debt for an engagement ring. It is not worth starting your life together with financial stress.
• Set a realistic budget that you’re comfortable with. Remember, the value of the ring doesn’t define the value of your commitment.

2. Partner’s Preferences:

• Take your partner’s preferences into account. Do they prefer a simple, understated ring, or are they dreaming of something more elaborate?
• Pay attention to any hints they may have dropped about their ideal ring style.
• If you’re unsure, consider discussing ring options together. Shopping for the ring as a couple can be a really romantic and special experience.

3. Quality of the Diamond:

• Consider the 4Cs of diamonds—cut, clarity, colour, and carat weight. Opting for a slightly lower carat weight with better cut and clarity can result in a more stunning ring.