How Expensive Should the Engagement Ring Be?


Tiffany Soleste Pear Engagement Ring1

Are you thinking about diving in and going for it? Is an engagement ring on your list of “things to buy” anytime soon? If so, you may have a few questions concerning both the cost and how to go about finding a ring that fits both your budget and fiance-to-be’s style.

Have no fear, we’re here to break it all down for you and give you a good idea about how to go about one of the biggest tasks of your life. You may think that there’s some type of specific price you’ll need to cough up but that’s not the case. While there are many different rules, myths and expectations floating around, we urge you not to fret. There are various routes to take and we’ll help you navigate through all of the gobbledygook you’ve been listening to from social media, magazines, television and your buddies.

The Rule

There are several guidelines to follow when it comes to picking out an engagement ring – and some deserve more attention than others

The One Month’s Salary Rule

One of the most well-known “rules” surrounding how much one should spend on an engagement ring, it’s quite simple. It states that you should spend one month’s gross income on the ring.

Sometimes, we’ve heard of a two or three month rule, which can get a little out-of-hand for those that have a larger income. Spending enough or more than you would to put a down payment on a house or on a new car seems a bit too over-the-top and frivolous. Don’t allow the meaning of this ring – a symbol and promise – to be washed away with the price tag.

Average Cost

According to Bustle, men in 2016 were spending an average of $5,978 on an engagement ring. Every year this bottom line seems to become more and more inflated. And women don’t just love their rings, they know every detail about it – where it was purchased, the cut, carat… and yes, how much was spent as well. The pressure is high on the men to purchase something that’s worth the Insta photo.

Our advice: if you can afford something with that kind of price tag then go for it! But don’t put yourself in debt over the purchase either. The importance isn’t in the cost but in the commitment.

How To Shop

Before you start knocking on local jewelry store’s doors, you’ve got to prepare yourself. Check out these quick and easy guidelines before you immerse yourself in cuts and carats.

Skim Your Finances

Decide whether or not you can pay in full, place a down payment or finance your purchase. Take an overall look at your finances to see what you’re comfortable with and what your bank account allows. This will lead you into step #2.

Set A Budget

This will focus your shopping and knock out the clutter along the way. Don’t even allow the consultants helping you to show you pieces that may be out of reach (the same rule applies to the wedding gown). Set a budget that works for you, be vocal about it and stick to it.

Do Your Research

Take a peek online or in magazine to see what’s trending. Learn a bit about what a carat, cut and clarity really is before you dive in without a clue of what’s on the inside of those glass cases. Knowing what you’re looking for will set your mind a bit more at ease throughout the entire process.

Pay Attention

And we mean pay attention to your almost-fiance. What’s her style like? Do you think she’d like something with a more vintage flair or maybe a chicer, more modern design?

You’ll want to really think about your significant other when choosing a ring that symbolizes not only your love for her but her everyday vibes as well – since she’s the one that will be wearing it day in and day out.

5 Gorgeous Engagements Rings That Fit A Variety of Budgets

$1000 | James Allen | 14k White Gold Petite Pave Cathedral Engagement Ring

14k White Gold Petite Pave Cathedral Engagement Ring

A classic engagement ring that fits a smaller budget, you never have to skip out on quality if you’re working with a tighter budget. Set in 14k white gold and accenting with all the natural sparkle in the world, you’ll win her over with this one.

$3000 | Zales | 1 Ct. T.W. Diamond Frame Bridal Set in 14k White Gold

1 Ct. T.W. Diamond Frame Bridal Set in 14k White Gold

With this price tag, you not only get the engagement ring but the wedding band too. A full carat in weight, this has a timeless but glam appeal that matches the hearts of so many blushing brides-to-be out there.

$5000 | Ritani | Round Cut Masterwork Halo Diamond Band Engagement Ring

Round Cut Masterwork Halo Diamond Band Engagement Ring

This round-cut diamond is accented by side diamonds giving it an sparkling, eye-catching visual, just like its description states. With a platinum band and halo diamond, you’ll be getting a ring with a bit of magic thrown in.

$7000 | Tiffany | Tiffany Soleste Pear Engagement Ring

Tiffany Soleste Pear Engagement Ring1

Are you looking to add a bit of color to her life? Well, with this pear-shaped yellow diamond from Tiffany, you’ll be doing just that. It’s accented with a generous helping of smaller diamonds as well adding an even grander overall design.

$10,000 | Jared | Vera Wang LOVE 2-¼ Carat tw Diamonds 14k White Gold Ring

Vera Wang LOVE 2-¼ Carat tw Diamonds 14k White Gold Ring

Vera Wang makes gorgeous wedding gowns but she also designs some stunning engagement rings as well. And with a $10,000 price tag, you want to make sure you’re getting the best quality and name out there.