How Much Should I Spend On A Diamond Engagement Ring?

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How much money you should spend on an engagement ring depends on your income, what you can afford to spend and how important the ring is to you and future spouse.

An engagement ring is, for many, a vitally important symbol of their coming marriage. For some, the purchase is an investment in themselves and their future lives together. To give the bride one item of wealth to be hers no matter the outcome, is an investment in her future. For still others, it is an annoying or even dangerous bit of jewelry that only stuffy tradition requires. Obviously each couple considered above will have a very different idea of the “right” cost of an engagement ring.

De Beer’s company has long been active in making diamond rings the required ring for engagements and initiated a media blitz that the amount of money spent on a ring should be equal to “two months of the buyer’s income.” Engagement rings were not required before De Beers increased the value of mined diamonds. 

Knowing that, you are in a much better position to make choices together about what you want in an engagement ring. If the primary point, for both of you, is a combination of investment for the family and security for the woman, it may be appropriate to place a higher value on a ring than the De Beers’ two months’ wages.

An investment piece may cost substantially more! It may be completely satisfying to all,of loving intentions and faith, even a couple of dollars or any precious stones or gold and even diamonds,if the ring is primarily a sign of love.

If you know what you want to buy, and what price range you are comfortable with, the next step is to check current prices on stones and gold. These can be found fairly quickly online.

Your ring is priced to include design, labor and merchandising charges, but if you know the cost of materials, you should get a better sense of those extra charges. 

There are many possible engagement ring options to suit each couple, and it is an open choice. This amount is what you spend next to get what you want with your purchase. The only way to have a “right” or “wrong” amount is if you pay more than the ring is actually valued.

Instead there is a right amount for you, and a wrong amount for you, and any ring, no matter how beautiful, is the wrong ring at the wrong price if it fails to provide the value you are seeking.

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