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

posted 10 years ago in Rings
Post # 166
Member
114 posts
Blushing bee
  • Wedding: October 2016

Take a step back and think about how much you really want to spend on a ring. Even if I had an unlimited budget I still think paying anything over 7k is INSANE for a piece of jewelry.

Lastly and probably most importantly, that “spend 3 months salary” rule was invented and circulated by the diamond industry. So take that with a grain of salt.

Post # 167
Member
1306 posts
Bumble bee
  • Wedding: May 2014

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google:  husband and i combined make around $100k, but our situation was different because my ring is the engagement ring that his late father bought for his mother when they got engaged in the 60s – its a 1 ct solitaire in 14k white gold that appraised for around $2,000, and my wedding band was $550 (we got a great deal because my best friend works for a private jeweler). had we not been given that engagement ring, my rule was that we wouldn’t spend more than $2,000 total for my rings because we could upgrade later when its more financially reasonable 🙂

Post # 168
Member
812 posts
Busy bee
  • Wedding: June 2015

I haven’t read through all the replies but I would agree with pp that the ‘3 month salary’ rule is to be taken with a pinch of salt.

We both have good jobs and a healthy combined salary but to spend that amount on an item of jewellery  (no matter how significant) is crazy to me! 

We designed my ring together and had it custom made at our favourite independent jewellers…its everything I could have wanted and, in the end, it was less than one month’s salary for Fiance (which I think is still pretty damn pricy lol).

Spend whatever you are both comfortable with. 

Post # 169
Member
8516 posts
Bumble Beekeeper

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khaleesi101014:  I see your point, but at the end of the day, it all comes down to what each person/couple prioritizes.

Some people (myself included) don’t have a problem with putting down a good chunk of change on a ring that will be worn everyday and passed down to future generations.

Others may say, “never, it’s just a ring” and then spend thousands and thousands of dollars over the course of their lifetime on fine dining, gym memberships, trips to the spa, a nice car, new Apple products every couple years, etc. They might find that those things are worth far more to them than a ring, but to others, they might not be.

Unless someone is going into debt or putting a severe strain on their finances by making a certain purchase, it’s not my place to judge how they spend their expendable income (and probably then it’s not my place to judge either).

Post # 170
Member
975 posts
Busy bee

My DH and I make around 275k plus bonuses annually. I don’t know exactly how much he spent on my ring, but I’m guessing around 20-25k. 

I think engagement rings are such a status symbol for men, and he wanted to buy me something nice. We actually have a 0.75 ct antique diamond that I wanted to use (for free!), but honestly, I was happy with whatever he wanted. He did a great job picking out a beautiful ring for me, and I was thrilled to accept it.

Our wedding bands are a different story. His was $18 (Tungsten band on Amazon) and mine was $400 (plain platinum from Blue Nile). 

Post # 171
Member
114 posts
Blushing bee
  • Wedding: October 2016

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TheGridMonster:  Of course, my main point is that people read too much into the “three months salary rule” and not enough time deciding what will work for their budget. If you want to spend 15k on an e-ring, go for it, I’m just saying for me personally, I find that crazy.

Post # 172
Member
166 posts
Blushing bee
  • Wedding: August 2015

we have a combined salary of about $175k. My SO has an heirloom ring that we are getting reset because the old setting has been worked on so much it is cracked and has mixed metals. We are spending around $6-7k for the settig and we got the stone re polished for about another $1k. 

The center stone is over 2 cts and is absolutely gorgeous after the work put into it. The only reason we are putting so much into it is because it’s been in the family for 100 years and we want it to last 100 more. 

Post # 173
Member
857 posts
Busy bee
  • Wedding: July 2015

We make around $130,00 combined and my ring was about $2500. It’s absolutely perfect and exactly what  I wanted. 🙂

Post # 174
Member
296 posts
Helper bee

We make about 60k combined and my FB moissy was less than $750. It is exactly what I wanted and we didn’t break the bank for it.

Post # 175
Member
187 posts
Blushing bee

We make just shy of $300k combined and my engagement ring was $34k, band was $5k.  I had nothing to do with picking it out and had very little expectation of what he would spend, but he knew that i wanted something that I could pass down to our kids or grandkids or whatever, and we don’t plan on upgrading ever.  I love it and I believe he’s proud of it as well.

Post # 176
Member
52 posts
Worker bee

So…we make about 70,000 combined, and we were looking to spend a bit over 5k on my ring, but after reading all these responses I’m thinking we are bats**t cray. I say we can “afford” it, since I’m contributing a bit and the rest is from his tax back rebate. But…we could spend that money on so many better things since we’ll be doing an international move in a year or so. But because we are spread across the globe right now, I am really loving the idea of a ring to make it more “real” since we are spending so much time apart these days.

Post # 177
Member
214 posts
Helper bee
  • Wedding: May 2016

My fi makes close to 90k. I earn nothing ( full time student). When I do work I make maybe 10k in a year. My engagment ring was 12k. My full set will come close to 18k. 

As long as you save as you should, arent going into debt I see nothing wrong with spending a nice amount on a ring. 

Post # 178
Member
1320 posts
Bumble bee
  • Wedding: August 2013

we make more than $200K combined and my engagement ring was $1200, our wedding bands totaled $600. Priority-wise it just wasn’t something we really cared about.

Post # 179
Member
206 posts
Helper bee
  • Wedding: July 2014 - Sedona Golf Resort

Combined we make about $150K, however when my Husband purchased the ring, he was only making about $50K. Since we lived together, I supported all the household bills while he paid off the ring-which with 2 diamond bands, he spent a total of about $7,500. I wanted bling and tried to get him to buy a Moisanitte but he refused, it didnt like the idea of getting me anything less than a diamond.

While my center stone is almost 1.5Cts, he told me he would “upgrade” it to 2Cts on our 5-year anniversary. I am thinking I’d rather have a boob job or tummy tuck instead.  

We live in Texas and everything is big and people tend to notice rings-so I did want something I could feel proud of without breaking the bank but you need to do what works for your budget and comfort level. This is also a second marriage for the both of us, so I am past the “starter” phase if you know what I mean.

Post # 180
Member
175 posts
Blushing bee
  • Wedding: June 2015

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mrs_pugetsound:  I know damn it makes me wonder wtf Im doing wrong. More people in here make upwards of $100k combined. Nice!

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