How much to spend on engagement ring

You’ve undoubtedly thought about how much your engagement ring should cost if you’ve ever considered getting engaged. It’s tough to know how much to spend on engagement ring, especially because diamonds are said to be a girl’s closest friend. Engagement rings aren’t a one-size-fits-all purchase; instead, there are many distinct guidelines and expectations about how much to spend. Read on to get tips and ideas on what to consider on how much to spend on engagement ring.

Finding a trusted source

Locating a reliable source to acquire your bling needs study.  Ask your friends, relatives, and coworkers with rings you adore, where they purchased them. Look for help at a local jeweler or wholesaler of diamonds if you’re confused. Try shopping online since a brick-and-mortar jewelry retailer might raise the price of a diamond ring by 50% or above to cover their underlying costs like rent.

Spend within your budget

Once you’ve determined who will pay, come up with a reasonable figure that won’t hurt your pockets now and in the future. Create a list of everything in your life that will cost a significant amount of money within the next 3 to 5 years. Once you’ve determined where an engagement ring falls on this list, you may work together to create a budget. Purchasing a ring within your budget can offer you delight and life memories of how you began together.

Go the traditional way

Also known as the two-to-three-months salary rule. If you don’t have much of a money problem, you can decide to take the traditional route. This is an old guideline that your father or grandfather most likely kept telling you about. You can essentially plan to pay two or three months’ earnings on an engagement ring. For instance, if you earn 4,000 Euros per month, you should budget 8,000 Euros to 12,000 Euros for an engagement ring.

We personally think you should spend what you can afford and don’t feel the pressure to put yourself into financial difficulty for an engagement ring.

Now you have a better idea of the kind of cash to drop for an engagement ring, your next task is to come up with ideas on how to pop the big question. Check out our blog on the top 5 places to propose for some inspiring and exciting ideas on how to ask your other half to marry you.