HOW MUCH TO SPEND ON AN
ENGAGEMENT RING

How Much Does an Engagement Ring Cost?

Nothing about buying an engagement ring is one-size-fits-all. Whether you choose to design a custom piece together, surprise her with a ring that costs half your salary or go with an alternative to the traditional diamond engagement ring is up to you. Whatever you decide, an engagement ring is an important purchase, both for your relationship and your wallet. Here’s how to determine how much you should spend on an engagement ring.


 




THE MOST COMMON ENGAGEMENT "RULE"

 Ever heard that you should spend roughly three months of your salary on an engagement ring? The idea actually stems from a marketing campaign from the 1930s that sold people the idea that how in love and committed you are was directly correlated to how much the ring costs. We know that is far from being the case, but somehow the “rule” has persevered.

In reality, the average engagement ring cost could be anywhere between $1,000 and $5,000 with some people spending more and some spending less.
 

WHAT IS YOUR BUDGET?


The last thing you want is to get engaged and then have to pay off the debt you accrued by choosing a ring that was beyond your means. Think about it: you still have a wedding to plan and a whole life together to finance.

SET PRIORITIES

Before you start shopping for the engagement ring of your dreams, take some time to come up with a budget for what you can realistically spend. The 4 Cs (cut, color, clarity, carat) all factor into the ultimate price of a diamond, so a quality stone doesn’t necessarily have to be flawless in every way.

Setting priorities can help you narrow down your choices, and a certified gemologist can help you navigate your options. With a budget as your guide, you won’t waste any time looking at rings that you can’t afford—no matter how beautiful they may be.
a couple at a family dinner




WHAT STYLE OF RING DO YOU WANT?

An engagement ring is about more than just the diamond. The metal, setting and overall style can also affect the cost. Classic white gold or platinum are the most popular choices but can also be on the more expensive side. Alternatives like rose gold or yellow gold can give your ring a more unique or vintage vibe and sterling silver is also an option if you are on a tighter budget.
rose gold oval diamond ring in a dish

Next, the number of stones you choose will also affect the overall price. A solitaire engagement ring is a popular choice but so is a three stone engagement ring or a design with halo detailing (smaller gemstones surrounding the main center stone).
yellow diamond ring in vintage setting being held in a box

You might also consider going with a lab-created diamond. They are just as sparkly and vibrant as a natural diamond but come at a lower cost. With more of your budget leftover after you choose a diamond, you’ll have added flexibility with the metal and setting.
Round cut white gold diamond ring with pave halo on a tabletop




THE BEST PLACE TO BUY AN ENGAGEMENT RING

Whether you’re looking for a loose diamond or a pre-designed ring, the best place to buy an engagement ring depends on a few of the things we’ve already mentioned. What is your budget? What kind of diamond are you looking for? What style do you have in mind?



The experts at Jared can help you narrow down your search and provide guidance for getting the most out of your budget. Our custom design studio is the perfect option if you want to create a one-of-a-kind engagement ring that represents the bond you and your partner share. In the end, no matter where you choose to buy an engagement ring, how much you spend is up to you.





 
 
 

READY TO
PROPOSE?


 

Jared has an extensive selection of engagement rings to suit any style.
 

SHOP ENGAGEMENT RINGS

 
 
 




RELATED ARTICLES

How to buy diamonds

HOW TO BUY
DIAMONDS

READ MORE >

Princess Cut Rings

STYLE SPOTLIGHT: PRINCESS
CUT DIAMOND RING

READ MORE >

Emerald cut diamond ring

STYLE SPOTLIGHT: EMERALD
CUT DIAMOND RING

READ MORE >