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

posted 8 years ago in Rings
Post # 17
Member
196 posts
Blushing bee

I make about $100K and my fiance is unemployed and returning to school.  I didn’t want an engagement ring, but we exchanged custom engagement necklaces, which were about $250 for the pair.  We spend about $650 for our pair of wedding rings.  For me personally, I wouldn’t be willing to spend more than $500 on jewelry I am going to wear every day. It’s just too easy to lose things, and I can think of a lot of ways I would rather spend the money.

Post # 18
Member
3148 posts
Sugar bee
  • Wedding: February 2010

what he paid for my ring is about 1 week’s worth of our combined salaries.  I am just not into having expensive jewelry. 

by the way the “rule” used to be 2 months salary. I’ve noticed that people are now saying 3 months. it’s like the expectation has been inflated. personally, I think that 2-3 month salary rule is complete BS.  no matter what you earn, 2 months of your hard earned money should not be going towards one piece of jewelry!

Post # 19
Member
1595 posts
Bumble bee
  • Wedding: May 2013

I never said the 3 month “rule” I said the “saying” is that it is 3 months salary. I think the whole positioning of calling it a “rule” is silly! Of course you buy what you are comfortable spending! In case anyone was referring to my post.

Post # 20
Member
3148 posts
Sugar bee
  • Wedding: February 2010

@Dell79:  oh, I understand. it’s the diamond marketing people that shove this down our throats– I didn’t mean to imply that you have bought into this “rule” ๐Ÿ™‚

I’m  basically bashing Debeers here, not any PPs!

Post # 21
Member
1586 posts
Bumble bee
  • Wedding: January 2013

Fi and I together make about 115000 and my ring cost about 20000… i didnt want a ring that expensive but he insisted that it was the one

Post # 22
Member
1595 posts
Bumble bee
  • Wedding: May 2013

@janie-janie:  okay! I just wanted to clarify! ๐Ÿ™‚ It is kind of funny/ridiculous that it used to be 2 months, I didn’t know that.

Post # 23
Member
795 posts
Busy bee
  • Wedding: December 2012

OP, I would definitely say that you two should do what you’re comfortable with. You have to wear this ring, no one else. If your family is so upset, let them provide the diamond. If you’re opposed to diamond because of the ethical reasons, then lay it out for them. I hardly think they could really argue with “have you seen what these people are doing to each other over carbon atoms?” and you wanting to make sure that there wasn’t a chance you would be involved with it.

 

Currently Fiance are both in school, so our income is like, $0000.00 It’s really great, let me tell ya. His Mom got our ring. I think that’s the tradition where she’s from. She was pretty adament about getting the ring for us. It was about 6k, but she has a really good friend that owns a jewelry store, so I’m pretty sure she got a fantastic deal ๐Ÿ™‚

Post # 24
Member
2892 posts
Sugar bee

Combined? 100K, maybe a little more. Ring was about 7K. 

Post # 25
Member
1842 posts
Buzzing bee

I personally believe that 3 months salary (as well as a lot of the night prices associated with wedding are a crock of beans)
Our combined salary is somewhere around 100k (mine differs greatly month to month depending on what grant I am working off of)
My e-ring costs 2,800 and 2 wedding bands cost 600 total

there are cheaper ring options out there than the chain jelery stores, there are even a few places where you can make your own rings and they will teach you how for a very reasonable cost. you just have to get creative

 

Post # 26
Member
395 posts
Helper bee
  • Wedding: December 1969

At the time we were married, our combined income was $110k-120k. We spent about $200 on our wedding bands (they were each $100, no stones). That is two *hundred*, not thousand. Personally I think spending thousands on a ring is absurd, no matter how much you earn. I figured, why on earth would we do that? Now, our 5-year anniversary is coming up this summer and I have decided I want a ring with stones (or, a stone); I’m choosing a moissanite ring (for many reasons). But you’re right, even moissanite can get crazy expensive.

We also both come from “well off” families. 

I second what previous posters have said. Go for what you want, and what you can reasonably afford: don’t choose based on other peoples’ expectations. And whatever you get, it is none of your mother’s business! 

Post # 27
Member
701 posts
Busy bee
  • Wedding: August 2012

man you guys are ballin’ SO makes 30k and I’m a student so made 7k this past year. My ring was approximately 450

Post # 28
Member
1091 posts
Bumble bee
  • Wedding: October 2012

We make $165k combined and he spent $6500 on the ring.  I wouldn’t have spent that much if he’d consulted me, but he saved for it for a year on his own (mostly before we lived together, so before it was really “our” money). 

Also, why tell your mom if it’s a moissy?  It’s none of her business whether it’s a diamond or not or how much was paid for it or by whom.  If she’s going to be judgey about it and bring you down, she forfeits her right to the information.

Post # 29
Member
14978 posts
Honey Beekeeper
  • Wedding: June 2011

We spent about 6% salary on the ring.  But the comfort level wasnt based on our income but savings amount.  We had a lot saved up for a house and just dipped into that a little – less than 5%. 

Post # 30
Member
142 posts
Blushing bee
  • Wedding: June 2013

My Fiance and I both come from “well off” families, but as teachIng as both of our chosen professions we combined make about 80k annually.  We chose a ring for about $1k that was simple, and everything I wanted. Our parents said it seemed small and were intrigued by our choice, but it’s not their opinion, it was mine that won.  Also, we decided to do things a little off tradition and paid for the ring together to ease the financial stress burdening oly him.  We both chose an emotionally filling profession, just not one that fills our pocketbooks.   But all in all, I couldn’t possibly be happier.

Post # 31
Member
2491 posts
Buzzing bee
  • Wedding: July 2012

@google:  We make about the same as you and both come from well off families too. In total, we spend $2000 on my ring, $350 on my band and $275 on his band. I don’t think salary has much to do with it– I loved what I love. I think the only “upgrade” I would do would be to put in higher quality diamonds. The ones in my ring are nice and sparkly, but still only I2’s and not great in any of the other areas too. In the end, it was worth saving the money to buy a house right now.

 

ETA: My ring cost about 1/2 of his monthly salary, and 1/4 of our salary combined, which is pennies with the rule.

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