How Much Money Should You Spend On An Engagement Ring?

by Pam on July 10, 2017

Putting a price tag on happiness is a difficult process. For those who have found the one they love, it can be hard to find the right price range to work with when you go out to find the engagement ring. Finding a ring that will signify your love and show someone you want to spend a lifetime together is a rough project.

Add to that the fact that you want to find something that your significant other will love, but you don’t want to spend so much that you’ll be spending a long time paying it off and not have as much for the wedding rings and the ceremony. This search has just become even more complex, but there are experts who are willing to help you figure out a reasonable budget.

Rules From the Past

The standing rule in previous years was to spend the equivalent of three month’s salary on the engagement ring. While this definitely shows your loved one that you value them and are willing to spend a decent amount on their ring, it doesn’t always benefit you to spend within that price bracket. For those who are already in debt or those who have job security concerns, it may not be wise to have so much money invested in the ring that you struggle with other bills or financial responsibilities.

Present Focus Is Responsible Spending

Today’s workplace is a fluid thing. Not everyone is guaranteed to be at the same job five years or even one year from a big purchase like an engagement ring. For that reason, it may be a smarter move to spend less. One month’s salary or two months for those who prefer the middle ground are wise investments in this significant purchase.

In this consideration, what your partner expects to receive and whether the ring you choose should have special significance over a price tag are bigger factors than what you make at work. The recommendation is to let those factors weigh more heavily than the price tag, because your significant other should love the ring, and this is the primary reason for the choice.

Only You Know What’s Best for You

Finally, the choice of engagement ring is special to the two of you. Therefore, you should know how much weight to put on the price of the ring, how much should be based on what your significant other will love and how much should be determined by the significance of the ring to the one who will be wearing it forever.

Trust your instincts and go with the budget that makes the most sense based on all of these factors. In your situation, the cost may take a back seat to the history of the ring or the gem preference of your special lady. Only you can determine the importance of these factors versus the cost.

A common question may be how much money should you spend on the engagement ring? However, the reality is that each person is best suited to make this determination on their own. It is not necessary to match some standard set by others.

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