(Closed) How much should an engagement ring cost?

posted 10 years ago in Rings
Post # 17
Member
2057 posts
Buzzing bee
  • Wedding: October 2010

I think @lilyfaith said it the best…there isn’t really a norm it depends where you both are as a couple and what you’re comfortable with. Whether its spending cash, credit, getting a loan, making payments etc… Every couple has different wants and wishes.  

FH and I were very fortunate as my center stone is a family heirloom and our final design (as well as all our rings) was done by a wholesale diamond jeweler. 

Post # 18
Member
2702 posts
Sugar bee
  • Wedding: September 2010

ditto scissors and ribs, i did not want Fiance to purchase on credit… he did a really great job on his savings… paid for my ering/band and the downpayment on our house… band/ering = $10,000

Post # 19
Member
281 posts
Helper bee
  • Wedding: September 2010 - The Glen Manor House

I know my fiancee kept the 2-3 month salary rule in the back of his head, but ultimately (I think) he saved over the course of almost a year to get something beautiful.

Post # 20
Member
831 posts
Busy bee
  • Wedding: September 2010

It really depends on the quality and size of your diamond. You can get a HUGE diamond (2.5 carats) with a H color and SI/I clarity and it’ll cost about $6000 while a smaller diamond (1.5 carats) with a F color and VS clarity can cost you $12,000.

Post # 21
Member
806 posts
Busy bee
  • Wedding: August 2010

Just a thought since the “2 months salary” rule has been mentioned.  I think that guys who spend 2-3 months salary on the e-ring are the exception rather than the rule.  It just seems like overkill to me.  If you use 3 months as the guideline, that would be…

a guy who makes 100k should buy a $25k ring

a guy who makes 50k should buy a $12.5k ring

I just don’t see that happening in most (younger, 1st marriage) couples that I know.

Post # 22
Member
1068 posts
Bumble bee
  • Wedding: March 2011

I don’t think that there is a set amount of what an engagement ring should cost, but there are statistics to how much people spend

Post # 23
Member
282 posts
Helper bee
  • Wedding: May 2011

@neontl Thanks for posting those graphs…was pretty neat!

Post # 24
Member
3343 posts
Sugar bee
  • Wedding: August 2010

As much as you can afford!

@prettyflowers – I think you need to consider taxes…A person who makes $100K annually certainly doesn’t get that in his/her pocket, so the numbers you’ve posted are a bit off.

Post # 25
Member
647 posts
Busy bee
  • Wedding: June 2011

The amount of money an engagement ring “should” cost totally depends on what the guy is willing and able to pay!  The months of salary rule is made up by diamond companies.  Of course they want you to think you “should” spend that much money on it.

Your fiance made a choice about how much to spend, try not to feel guilty about it.  He probably spent more on a smaller stone based on a priority of wanting higher quality versus size?

Post # 26
Member
3 posts
Wannabee
  • Wedding: September 2013

I picked out what I loved, not what was in a certain price range. My fiancé is very much into quality and beauty. The Four C’s were very, very important to him.  With that said, I would say as long as a couple doesn’t go into debt. 

Post # 27
Hostess
8574 posts
Bumble Beekeeper
  • Wedding: October 2014

There isnt a set amount, it’s whatever you and your fiance feel comfortable spending.

I know personally, for me & my fiance, I just couldn’t justify spending ALOT of money on a ring, so we opted for something on the cheaper side, my bridal set was $419 with insurance, I love it – and we plan to get an upgrade in the future when we are more financially set, but for no, it’ll do!

Post # 28
Member
1768 posts
Buzzing bee
  • Wedding: August 1997

it’s what the guy wants to and is able  to pay. I’m all for being practical but its also ok to expect a beautiful high quality ring to wear forever. 

Post # 29
Member
66 posts
Worker bee
  • Wedding: August 2014

I think the 2-3 month of income rule is after taxes! Just FYI- so if he makes 75k and is taxed 30% then that’s 13,125 to spend on a ring (if you say 3 months!) I’m an accountant and like numbers hehe 😉

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