How Much to Spend on an Engagement Ring

Posted on August 17th, 2009 by aileen

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The first step to getting married is to get engaged. Wedding engagement plans are really simple. You buy a ring, take your girlfriend out to a romantic dinner and you pop the question (For wedding engagement ideas, learn these Three wacky and crazy wedding proposal ideas). So what makes popping the question hard? Buying the engagement ring may be a bit of a task. How much do you really have to spend on a decent engagement ring? Here are some things you should know.

The 2 Month’s Salary Rule

There’s a saying that your engagement ring should be at least worth your 2 month’s salary. This rule is not greatly followed anymore due to issues on practicality. Newly weds and those about to get married, should put their money on more important things. This is not to say that an engagement ring is unimportant, but imagine if you’re earning at least $5,000 a month, do you really want to blow $10,000 for an engagement ring? If your answer is yes, then your future wife is lucky. Also, You have to think of all those other wedding expenses, like your honeymoon and wedding reception. Don’t forget the fact the you’ll probably want to get a new house where you can start your own family. Spend your money wisely. An engagement ring should express your love for your would-be-wife and not your monthly income.

Work on a Budget

Before shopping around for an engagement ring, decide on a budget first and try to look for a ring within that amount. There are many jewelry shops that sell very nice quality engagement rings that aren’t too pricey. A budget between $1,000- $3,000 would be sufficient. (Learn how much to spend on an engagement ring)

Decide on the Style and Design of the Ring

The style and design of the ring should look good on the hand of the woman you love. If you’re unsure of what to get, a ¾ to 1-1 ½ carats diamond is a safe choice. This kind looks good on most women. The color and clarity of the diamond will affect its price. Don’t be surprise if a smaller diamond with very good color and clarity is more expensive than a bigger one with a lower color quality and clarity.

Shop with your Girlfriend

A surprised proposal is romantic but it can also be impractical, especially when you chose the wrong ring size or the diamond looks too big on her. If you want to be safe and free yourself from the hassles of going back to the jeweler to have the ring re sized or to get a smaller diamond, bringing your girlfriend along when shopping for an engagement ring is a good idea. This way she would be able to choose the ring she wants. Don’t forget to tell her that you’re sticking on a budget. She might choose something way too expensive. It wouldn’t hurt to tell your girlfriend that you want to give her a nice ring but also want to save up for your future as husband and wife.

An engagement ring doesn’t need to come with a very high price tag. Don’t forget that the ring signifies your love. As what they always say “it’s the thought that counts” and follow that with “big things come in small packages”.