How much should I spend on an engagement ring?
Here it is...the age old question of how much should we spend on an engagement. Should we spend two months' salary? Six months' salary? Or do I need to save for years?
The short answer: There is no right answer.
While many professional sources will claim that a man needs to save about three months of his annual salary for an engagement ring, the situation truly differs for each person and his personal financial situation. For example…
- Your current financial situation and obligations (loans, job status, etc.). These do not go away just because you are popping the question.
- There will be a wedding in the near future. Be sure to keep that in mind especially if you will be paying for that special night. Oh, and don’t forget the honeymoon.
- Any future plans you have for after the wedding as a house, family, etc. all come with big price tags too.
Therefore, how much you spend on an engagement ring is entirely up to you. What matters more is knowing the style of ring that you want to purchase because the final price will greatly depend on the center diamond carat weight, the type of metal you choose and the amount of accent diamonds included in the design. Making smart decisions in these areas will easily help you budget accordingly.
Overall, don't stress out – there is an engagement ring attainable to everyone, plus we have layaway and financing options available with approved credit so you can pay over time. If you are uncertain about what to choose, contact our Romance Experts who can help answer any questions or concerns.
Once you find that special someone that you want to spend the rest of your life with, begin to plan for all the above occasions. Begin to start putting money aside. No matter how small, it will have a big impact when that day finally arrives.