Your combined salary vs. what you paid for the engagement ring

posted 6 years ago in Rings
Post # 3
Member
1595 posts
Bumble bee
  • Wedding: May 2013

@google:  The “saying” is 3 months salary of the person buying the ring, if that helps. I think it’s worth it, but I have always known I wanted a nice engagement ring. I don’t wear much jewelry at all and have never had a “dream” vision for a wedding but I have always “dreamed” of my future engagement ring, so it was worth it to us (him?) to spend more and get the diamond I wanted to wear for the rest of my life. We bought preowned which is really the best savings out there. I also did not like the look of moissanite compared to a diamond and found moissanite to fall “flat” in certain lighting conditions and not look as sparkly from afar compared to a diamond because it had little sparks of fire not long white beams of sparkle like a diamond. Just my opinion!

To answer the question: My bf and I make $130,00 starting and he spent $18500 on a preowned ring that was originally purchased 4 months prior for $31,000–(we offered $500 more than a jeweler who wanted to buy it for resale, and we ended up getting it!) Also, I should mention my bf has a lot of money in savings.

Post # 4
Member
611 posts
Busy bee
  • Wedding: October 2012

I wouldn’t spend half your savings on a ring that expensive! Holy smokes!

Since you asked, our combined income is about 210K, and my ring cost just under 5K. So, for my personal frame of reference, a $3000 ring on a 120K combined income isn’t an “only” figure at all!

Post # 5
Member
9053 posts
Buzzing Beekeeper
  • Wedding: June 2010

I think it’s just about your priorities.  We make upwards of 150 together, but I still just wouldn’t be comfortable walking around with a ring the price of an economy car on my finger.  We ended up spending 3500 on my Engagement Ring, which I still felt like was a LOT.

Post # 6
Member
13081 posts
Honey Beekeeper
  • Wedding: November 1999

I know exactly how you feel with the money (I live in Arlington, too!)  We’re roughly in the same bracket as you money-wise, and I know Fiance didn’t break the bank on the ring (I told him in no uncertain terms to not spend more than $5k on a ring.)  He went to Boone & Sons in Farragut and got a fantastic deal — and it appraised for literally double that he paid. 

Hope that helps a little! 

Post # 7
Member
2253 posts
Buzzing bee
  • Wedding: October 2012

First, you should get the ring you and your partner are comfortable getting. Don’t let other people’s expectations dictate what should be a very personal choice for you and your fiance. No matter what you decide, there will always be someone who will have something to say whether it is positive or negative. From what I have read on WB, moissy seems to be a very good alternate to diamonds if you are abhorrent to spend that much on a ring. Sometimes I wish I knew about it before Fiance and I picked out my ring.

 Edit: forgot to answer your original question. Fiance and I make a total of around $140,000-$160,000 depending on our bonuses, and he spent roughly around $16,000 on my e-ring.

Post # 8
Member
275 posts
Helper bee

We make $170,000 combined and my husband spent $20,000 on my ring. Three months salary is what he went by. I’ve seen some really amazing rings under $5,000. I don’t think you have to spend a ton to get something beautiful.

Post # 9
Member
5667 posts
Bee Keeper

We make between $150k and $160k together and my ring cost between $7k and $8k. It had nothing to do with the “rule” just what we were comfortable spending.

Post # 10
Member
853 posts
Busy bee
  • Wedding: October 2012

We did not go by the three months salary rule. Fiance spent an amount we were comfy with from her savings, and we still have some left over for a down payment on a house and/or a rainy day. Honestly you should do what you are comfortable with. 

Post # 11
Member
853 posts
Busy bee
  • Wedding: June 2012

We make about $100k together and are spending $3200 on my final ring (just one, not separate engagement/wedding rings). It is the ONLY ring I want and we’re both happy with the price 🙂

Post # 12
Member
4803 posts
Honey bee
  • Wedding: August 2012

We didn’t use any kind of rule!  I waited for a good sale to tell my Fiance which ring I wanted, and also traded in an old ring that I had. 

Our combined salaries are about $90,000.

The original price of my ring was about $4500.  It was on sale, plus I traded in an old ring, which brought the total price including tax to $2300. The store even had a 0% financing option for one year, which Fiance took advantage of and paid it off over about six months.

 

Post # 13
Member
216 posts
Helper bee
  • Wedding: April 2013

Fiance makes ~$60K and spent $15K on my ring. It was what he personally felt comfortable spending and he saved for almost a year. Personally I didn’t mind. It’s not like we were broke or anything while he was saving for it (I didn’t even notice he was saving for it!).

Post # 14
Member
1498 posts
Bumble bee
  • Wedding: June 2012

At the time we got engaged I was unemployed, so we were just living on FI’s salary which was $50k at the time. My e-ring cost just under $1k.

Post # 15
Member
2195 posts
Buzzing bee
  • Wedding: November 2011

We make like $110k combined/year. My ring was around $5k. However, his friend is a diamond jeweler and got us my stones at wholesale and custom made the setting for free.

Post # 16
Member
180 posts
Blushing bee

Together we make maybe 40k a year (we’re both in college, so we work part time during school and full time in the summer). My 1ct moissy cost us $600. I think that’s a fair price and it’s my DREAM RING. My mom would be super judgemental if she knew it wasn’t a diamond…but she can’t tell (it’s unenhanced,but round which apparently fares better). Problem solved, everyone’s happy, and I’m SO HAPPY about it!

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