How Much Should I Spend On An Engagement Ring?
How Much Should I Spend On An Engagement Ring?
Are you ready to propose to your girlfriend? And are you pondering on how much you should spend on an engagement ring? While research shows that the average engagement ring costs approximately $7000, ultimately, the decision is to buy a meaningful ring that your fiancé will like.
We are here to make the process of deciding the amount to spend on your engagement ring less confusing and complicated, ensuring you make the right choice.
Forget the Three-Months' Salary "Rule."
We are not in the 1980s, millennials are now marrying in their early 20's when they have not reached the peak of their earnings. Combined with huge student loans and the high cost of living, the notion of following the three-months’ salary is highly unrealistic and outdated.
Determine the Right Amount to Spend
It makes no sense to start your marriage deeply in debt. Setting your own budget is one the easiest to ensure you do not overspend. If you have saved enough and believe you can go for five-figure diamond rings, go for it.
A ring should be a sign of love and not its measure, so if you cannot afford a five-figure rock you can go online or in store and research different diamond rings or diamond simulants. A special purchase as this one should never be rushed, ensure you strike the perfect balance between your financial situation and your partner’s expectations.
You can go for a classic solitaire ring at very affordable pricing as it looks just like a real diamond.
Consider Your Partner’s Expectation
Your partner may have an ideal type of ring she expects and it is important to meet their expectations or at least come close.
Your main goal is to get a ring that will make your partner feel proud and loved, so getting them the right ring in terms of size, color and carat is important.
Talk to Your Partner
If you are going to spend a lifetime together it might well be a great idea to have an honest conversation with your partner about your financial situation and their expectations. Then figure out the right amount for the perfect ring.
Research has shown that some women will prefer to be included in the ring selection. Thus, involving her may help ensure she gets the ring she truly wants. She might even be open to the suggestion of splitting the cost with you if the ring she picks exceeded your budget.
Take Your Search Online
Research has it that shopping for an engagement ring online can save you up to 40% than going to a brick and mortar store. — and thanks to Princess Gem's selection of premium quality engagement rings will ensure that you get exactly the right ring that suits your partner and your budget.