To Budget or not To Budget for your Diamond that is the question

posted 3 years ago in Rings
  • poll: Do you agree of disagree with the statement in this post made by DeBeers
    We set a budget for our ring and stuck to it, regardless of what we could afford : (45 votes)
    57 %
    We couldnt afford much, so we bought what our money would allow : (21 votes)
    27 %
    There was no budget, we broke the bank : (10 votes)
    13 %
    We realy didnt have the money, but I wanted to go big or go home. : (3 votes)
    4 %
  • Post # 3
    493 posts
    Helper bee
    • Wedding: March 2014

    @creeative1:  While I’m loathe to take DeBeers advice on anything, since they’re basically the living embodiment of an evil manipulative corporation from a superhero movie, that seems like solid advice. Jewelry is not an investment- or at least it’s not a good investment, you’re never going to get out more than a small fraction of the money you spend on it- so you should buy something that you find personally pleasing, not just something that has nice specs. Grading reports aren’t always accurate or reliable, and grading reports are pointless if you’re never going to sell it anyway. If it has nice specs but it doesn’t make you happy to look at it (“being looked at, mostly by the wearer” being the sole function of a piece of jewelry), don’t buy it!

    Post # 4
    858 posts
    Busy bee

    For my engagement ring, FI did what he could afford. For our wedding bands, same thing. We didnt go crazy, but definately was reasonable. 


    I have heard the 3x monthly salary too, but thats insane! Even if he made my salary whcih is much less, thats rididuclous! We spend $4500 on my engagement, $900 on wedding band and $400 on his. 

    Post # 5
    1040 posts
    Bumble bee
    • Wedding: July 2014

    Unless you’re incredibly wealthy, it would be foolish not to set a budget for a ring. I don’t buy the 3 months salary thing – it’s very much something that has been made up by De Beers. Spend what you are comfortable spending, not what anyone else tells you you should spend. 


    The quote you’ve posted seems completely unrelated, but I would agree with it to some extent. If you love warmer coloured diamonds, or you cant see the difference between an IF and a VS1, then definately get what you want and don’t feel you have to go for something just because someone else has decided that it is “higher quality”. But I don’t see how that relates to budget unless you are taking it to mean “buy the diamond you want, regardless of whether you can afford it”. 

    Post # 6
    276 posts
    Helper bee
    • Wedding: May 2014

    @creeative1:  I agree with picking diamond that speaks to you. It makes the utmost since because well some like the look of an icy white diamond others like the little carbon spot so they always know it belongs to them. 

    We didn’t follow the 3 month “rule”, more like a week salary is what he paid and I paid the remainder. 

    Post # 7
    356 posts
    Helper bee

    @creeative1:  We didn’t go with a diamond, partly because I wasn’t willing to let my SO spend that kind of money on something that is so highly regulated, but also because I prefer the look of moissanite much more. He was more than willing to get me whatever I wanted, whatever amount it was. We went to our local jeweler and designed a rose gold and moissanite ring, completely to our taste and there isn’t a thing either of us would change about it. Total cost for the entire thing was $1300, and honestly, we were shocked to hear that price.

    Post # 8
    3978 posts
    Honey bee
    • Wedding: September 2014

    What is reasonable to you? What sounds like a lot of money to you? What amount would you be upset that you FI spent if you found out after the fact and wish you had put that into savings, student loans, house downpayment, etc? For us, that number happened to be about 50% of one month of his small grad student salary. I wanted an antique ring, but I liked the fact I could get more bang for my buck looking at estate jewelry and that it came with history. While this isn’t everyone’s thing, I was able to get a platinum ring with a diamond I loved without feeling guilty about the cost. 

    Post # 9
    5208 posts
    Bee Keeper

    @creeative1:  Yeah, the diamond industry’s salary guideline is one of the most blatant attempts at consumer manipulation ever advertised. I’ve always thought that, from the very beginning of that campaign before I ever met my husband.

    I don’t think there is a right or wrong answer here. If a couple wants to break the bank on a ring, that is up to them. If they do it, I just really hope its not because the people selling them the diamond are the ones trying to dictate how much they should spend.

    Post # 10
    3697 posts
    Sugar bee
    • Wedding: August 2013

    3 months of my salary would be over 12k. DH makes 3 times what I do, so 3 months of his salary would just be stupidity (to us, to wear on my finger). DH had a budget, I didn’t know he was ring shopping, and stuck to it. He could have spent more, but I’m really glad he didn’t. It took me forever to get used to wearing that much money on my hand as it is! 

    Post # 11
    712 posts
    Busy bee
    • Wedding: September 2014

    I fully agree with the quote:

    “Always choose a diamond based on beauty and that which excites your eyes, and not based on the 4Cs written on a grading report,” 

    I go pawn shopping and find amazing deals on stones. I know what I’m looking at and what I’m looking for and can end up with .5 ring for $350 that would retail on blue Nile for $1500 at least. The only point of the reports are if you want to resale it or have a large stone to get coverage for. I can understand not everyone has the ability or time to learn as much about diamonds though. 

    I just find a stone I love at a price I love and leave it at that.

    Post # 12
    561 posts
    Busy bee
    • Wedding: March 2016

    @creeative1:  For my original ering, we set a $2000 for both the ering + band and came in $200 under! He financed it, and it was paid off super quickly. 
    I couldn’t imagine breaking the bank for a shiny rock lol. 

    Post # 13
    1443 posts
    Bumble bee
    • Wedding: June 2010 - parent's backyard

    I think it’s a really bad idea to buy any luxury good that is beyond your means. get what you can afford. upgrade later if you want. 

    and I agree with the statement. diamonds do not have to be totally perfect in order to be beautiful to the naked eye. 

    Post # 14
    743 posts
    Busy bee
    • Wedding: October 2014 - Our Backyard/Steakhouse

    3 months salary would have been about $15K…um NO!

    We got mine through a classified ad and while I had set a limit of $1500, he saw my face light up when I saw this one because it was more than I had ever imagined.  All he wanted to know was a) if I was happy and b) if it was a good deal.

    $1800 was what we spent for a 1ct solitaire in yellow gold

    Post # 15
    11668 posts
    Sugar Beekeeper
    • Wedding: November 1999

    I absolutely agree with the statement.

    Post # 16
    3524 posts
    Sugar bee
    • Wedding: February 2009

    I agree with that quote.  I have seen some stones that look bad on paper, but are firecrackers in real life.  And stones with amazing stats but kind oh meh in appeal to my eyes.  But diamond shopping is changing, and now ASETs  and signature branded cuts are becoming more and more popular.

    For budget, we went a bit over, but it was fine.  And it was about 3 months on my DHs salary.  Not that we planned for that, just it seemed reasonable to us.

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