How Much Should You Spend on an Engagement Ring?

How Much Should You Spend on an Engagement Ring?

It is worth repeating: There is not one standard price for an engagement ring. It is not written in any rule book - it comes down to your budget.

Remember, you're not just paying for the diamond when you buy an engagement ring. You're also paying for the setting, metal and any accent stones. These all contribute to the cost, but you can work with a jeweler to strategize what elements you want to emphasize most.

A common method for determining how much to spend is to use three months' salary as a guide. Depending on your financial comfort zone, though, this could be more or less.

If you plan to spend a little more, focus on each of the 4C's and how they work together. If you are more budget conscious, there are certain characteristics you can prioritize over others and even tricks you can use to save. One such trick is choosing a diamond that is slightly under a landmark size (0.95 carat instead of 1). This can equate to a lower price for a diamond that's only slightly smaller in size.

The bottom line is to use your best judgment. Determine a budget that is right for you and seek out the professional support and expertise of your Jared jewelry specialist.

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