If you are thinking about getting engaged at some point, you’ve probably already spent some time thinking about how much your fiancé-to-be will expect you to pay for the ring. There’s no set-in-stone amount, but there are certainly a number of different expectations when it comes to the cost of the ring, and it can be confusing, overwhelming, and just frustrating!
That’s why I have put together a few different suggestions and guidelines so that your engagement ring shopping journey will be easier to understand and navigate. With every season feeling like engagement season these days, you and your other half are sure to thank me if and when it’s time to go engagement ring shopping.
Spending Three Month’s Salary
According to the experts, the person buying the ring ought to spend around three full months’ worth of salary on the engagement ring. This is really just a rule of thumb guideline, though, and if you are buying the ring and are worried about job security or are already in debt, you may want to scale back a little bit.
Spending One Month’s Salary
You may have heard the more widespread rule of thumb that the buyer ought to spend a month’s salary on the ring. That’s because infamous diamond manufacturer, De Beers, began running an advertising campaign back in the era of America’s Depression. The campaign suggested that buyers spend a month’s salary on the engagement ring to save money, and the idea just seems to have stuck. There is a wide range of Sydney engagement rings available at Certified Diamond Network to suit all budgets.
Splitting the Difference
If three month’s salary seems like quite a stretch for your significant other, and one month just feels a little skimpy, there are a few contemporary ways of thinking that lean towards compromise and spending two month’s salary on the diamond engagement ring. This is a fantastic option if you want to spend a small fortune without going bankrupt!
Spend the Average on a Ring
In 2012, according to a report, couples spent an average of $4,000 on engagement rings, and while the average may have gone up a bit since then, you always have the option of presenting your fiancé-to-be with this type of information and suggesting they spend the average amount on the engagement ring. It really is a fair number, but do keep in mind that it has nothing to do with their own personal financial situation.
Ditch the Rules
We think the amount that is spend on an engagement ring should be left totally up to the person buying the ring. Of course, the input of the significant other should always be welcome, but if you aren’t the one making the purchase, it may not really be up to you – unless, of course, you and your partner have agreed on a budget to stick to. Overall, a lot of ladies don’t want their partner to spend a complete fortune on the ring, so it really is a personal decision.
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