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Welcome to our Padlet where we talk about the financial implications involved in the acquisition of wedding rings. It is not only a major subject but one with financial implications, especially to be thought about by those about to get married. Wedding rings are strong symbols of love and commitment but have different prices based on a variety of determinants such as material, type of diamond, design, personalization, and brand name.

With Canadian-based videos, websites, and photographs, we'll get personal with why wedding rings cost so much and learn to budget wisely. We'll consider the pros and cons of lab-grown and natural diamonds, talk about custom rings and the value that brand names bring to a piece, and we'll do so with the intention to advance practical wisdom and smart money choices without sacrificing meaning or style.

Whether we're shopping to book a future wedding, helping a friend with theirs, or just shopping with interest, Padlet will aid us in making well-informed and respectful decisions.

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Summary

This video explores different perspectives on what one should spend on an engagement ring. It touches on the traditional "two-month salary rule," but argues that such a rule won't suit everyone. The financial advisors in the video recommend budgeting based on your income, savings, and overall financial goals. The video challenges viewers to consider meaningful decisions and not social expectations or marketing strategy.

Why we selected it:

I selected it because I selected to highlight this video because it provides real-life practical advice. One good lesson was that spending too much on a ring can be harmful to your finances in the long term. It emphasized that communication with your partner and being aware of your personal budget is more important than hitting a specific price range.

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Engagement Ring Budget Advice: How much should you spend on an engagement ring?

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Summary:

This video provides a clear contrast between lab and natural diamonds. It explains why they have the same chemistry and appear identical to the human eye. It touches on the environmental and moral considerations involved in the purchase of lab-grown diamonds. Price is a significant consideration with lab-grown being 30–50% cheaper than natural ones. The video provides clear images and side-by-side comparisons to show that cost-conscious buyers can still be moral in their purchasing decisions.

Why we selected it:

It was especially useful to us because it breaks down a complex topic in a simple way. One insight was the manner in which luxury is becoming accessible through technology. It’s great to know that couples can choose a lovely ring that meets their values and budget without compromising on quality or beauty.

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The Difference Between Natural vs. Lab Grown Diamonds

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Summary:

The video offers practical tips to those who are trying to buy an engagement ring on a budget. The tips vary from using substitute gemstones like moissanite to settling on less complex band designs and shopping online to receive the best prices. The video is brief and to the point to allow the implementation of the given tips. It also offers an insight into spending on the areas that matter most to the couple and not necessarily conforming to trends.

Why we selected it:

We liked this video because it provides useful and effective suggestions on how to save money. One thing that caught our eye was the manner in which using the correct stone can be so affordable and yet so attractive. It’s perfect for those who want a dramatic ring without investing too much money.

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3 Tips for Buying an Engagement Ring on a Tight Budget  #ForeverwithFP #engagementring #engagement

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Summary:

This video breaks down all the factors that come into play in the cost of an engagement ring, from the 4 Cs (cut, color, clarity, carat) to the metal type and whether or not the style is custom or standard. The host uses diagrams and examples to show exactly how each factor affects the final cost. It’s a great place to begin for new shoppers who need to learn about the cost.

Why we selected it:

We selected this video because it explicitly answers why rings come in varying prices. The highlight was learning that some cuts in diamonds can have a bigger appearance without costing extra money. That’s a great tip in getting maximum value and style.

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Engagement Ring Costs: How To Break It Down!

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Summary

This article discusses the price of engagement rings in Canada and states that in 2021 the average was approximately $3,500. It states that the traditional "three-month salary" rule no longer applies and recommends that readers budget based on personal finances. The article gives recommendations on financing and purchasing and recommends that readers think carefully before purchasing.

Why we selected it: We have selected to publish this article due to its Canadian context and pragmatic recommendations. It emphasizes the merit of personal budgeting over adhering to arbitrary rules about spending, in keeping with our focus on well-informed financial decisions.

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How much should you spend on an engagement ring?

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Here’s what you should know before you say “I do” to an engagement ring.

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Summary

This Peoples Jewellers guide gives budgeting information about purchasing an engagement ring. It discusses the considerations that influence cost such as the 4Cs, metal type, and design complexity. The article provides real-life recommendations on finding a balance between quality and expense and allows readers to make choices in accordance with what they can spend.

Why we selected it:

As a long-established Canadian jeweller, Peoples Jewellers provides credible information in a context applicable to the domestic market. The guide contributes to our purpose to find out about cost factors and budgeting accordingly to buy an engagement ring.

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Budgeting for an Engagement Ring | Peoples

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Planning on purchasing an engagement ring? Learn how to budget for an engagement ring with Peoples Jewellers' helpful guide.

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Summary

This article mentions the impact of different diamond shapes on prices and says that the round brilliant cuts will be the most expensive in general because they carry high demand and require much rough diamond to be utilized in the process. Oval, cushion, and princess cuts will be 20–30% less expensive and offer cost-effective options without compromising on appearance.

Why we selected it:

With knowledge about the influence of shape on cost, buyers can strategically pick a diamond within their budget range. The article provides clear comparisons and helpful insights to aid in the selection of a diamond that offers both beauty and value.

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How the Shape Of a Diamond Affects Its Price

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More than color, clarity or any other factor, the shape of a diamond has a massive impact on its appearance. It also has a significant impact on its

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Summary:

This article from CBC News discusses the rise in popularity in lab-grown diamonds in Canada. It mentions the ethical, environmental, and economic drivers in the shift in consumer demand. It discusses Canadian jewelers stocking lab-grown options to meet the demand. It features interviews with industry insiders and consumers on why lab-grown diamonds are gaining popularity and acceptance.

Why we selected it:

The article was helpful to us because it aligned with what we had found in our research through videos. One interesting thing was the manner in which lab-grown diamonds not only cost less but were seen to be a more ethically conscious buy. It reassured us that consumers can have values and cost without sacrificing quality.

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The organization in charge of tourism in Regina has apologized for slogans it used as part of a rebranding.

Tourism Regina rebranded to Experience Regina last week. As part of the move it unveiled several new tourism slogans. Reid confirmed the organization is apologizing for two of those slogans - "Show us your Regina" and "The city that rhymes with fun" - that received a lot of criticism online after the relaunch.

Tim Reid, CEO of Experience Regina (formerly Tourism Regina), published an apology on Sunday evening, days after unveiling the new brand on Thursday.

"I want to start by apologizing, on behalf of myself and our team, for the negative impact we created with elements of our recent brand launch," Reid wrote in a post published on social media.

"It was clear that we fell short of what is expected from our amazing community with some slogans that we used."

In an interview Monday, Reid took responsibility for the the rebranding's failures, despite there being others involved in the process - including stakeholders, agencies and focus groups.

When asked about his future with the organization, Reid said it will be decided by the organization's owners and board of directors.

He said Experience Regina learned over the weekend that "we just went too far."

"The city didn't appreciate it and our community didn't appreciate it and we just were wrong," Reid said.

Regina Mayor Sandra Masters is expected to speak about the rebrand and subsequent apology after city council on Wednesday.

Marketing tactics 'bumped into sexuality'

According to Reid, the Experience Regina theme and song received positive feedback, but some of the marketing tactics "bumped into sexuality" and "should never have done that."

He said the tourism organization "crossed the line on some of the poking fun at ourselves around our city name."

Reid said a conversation he had on the topic over the weekend stuck out in his mind. He said he was asked, "Would you be proud to have this conversation with your kids?"

"They were right," Reid said.

Anything that has a sexual nature or connotation, or has been the focal point of criticism from the community, has been removed, Reid said.

'Sexualizing the city'

Kristen McLeod, a former Tourism Regina board member and one of the many people that criticized the new slogans, called the campaign blatantly disrespectful to people in the city.

She wrote a letter to the mayor on the subject, and on Monday she spoke with Stefani Langenegger on CBC's The Morning Edition and again later in an interview with CBC.

McLeod said she was shocked when the rebrand was announced and she saw a section on the organization's website that said it wanted to make "Regina sexy."

"It's sexualizing the city when it isn't necessary," McLeod said.

She was curious what the slogan's sexual connotations suggest about the city and if male genitalia would have been a focus in the future.

The campaign led McLeod to feel she didn't belong in Regina for the first time in nearly 50 years she has lived in the city.

McLeod said she appreciates Reid's willingness to take accountability and wants to know how it the organization will move forward, but put the blame on the City of Regina and said both the city and mayor need to take responsibility.

Ward 1 Coun. Cheryl Stadnichuk posted to Facebook Monday afternoon stating she had no advance noticed of the campaign slogans and was "disappointed and appalled" with the "sexist messaging of the new Experience Regina."

"Do we want men harassing women in bars chanting 'show us your Regina?' There are so many serious ramifications of these slogans ... as a society, we have a responsibility to teach boys and men about consent. These slogans do the opposite."

Stadnichuk said those responsible for the campaign must answer to council and the public about how the campaign was allowed to happen.

McLeod said after she went public with her concerns she received messages from parents concerned about how they should approach talking with their children about the slogans when they lean into, if not outright embrace, sexual innuendo.

"As opposed to kind of figuring out something that we can all get behind all be proud of, that you know your seven-year-old can say," McLeod said, pointing to the slogan "the city that rhymes with fun."

"When your seven-year-old can't - shouldn't, probably - explain the slogan of your city then that's a problem, don't you think?"

She said she doesn't take issue with businesses making products with similar slogans, but that the city should be held to a higher standard - especially given high rates of domestic violence in the region.

When McLeod learned that the organization will keep the name Experience Regina, she was taken aback. She said the name needs to change after it was ruined with the rebranding campaign.

Experience Regina

The rebrand marked the first significant move from Reid, also the CEO of Regina Exhibition Limited (REAL), since REAL was put in charge of the the city's tourism organization last year.

It's an attempt to capitalize off a phrase popularized by "Experience Regina", a viral video viewed nearly 700,000 times after it was uploaded to YouTube in 2008.

The video exploded in popularity in 2018 after Jimmy Fallon played the song on The Tonight Show.

Due to the similarity between the words Regina and vagina, the name of the song prompted laughs from Fallon's co-host, members of his band and the show's audience.

The crude joke and the comparison is something the rebrand was meant to lean into, Reid told CBC on Friday.

At the time he said the connotation around the phrase was unavoidable.

"I think that that affiliation will always be an undertone that we face," he said, urging the public to be proud of the city's name no matter what.

"For those that want to have a moment of humour with it, that's not a bad thing. Embrace it. We're not changing the name of the city of Regina anytime soon."

Marjorie Delbaere, an associate dean with the Edwards School of Business at the University of Saskatchewan, said there could be a problem with trying to capitalize on a viral song.

"I know people like to say ... all publicity is good publicity, but we strongly connect and code those negative feelings and experiences, and so even if we like what we're seeing it's very hard to distinguish it from what might have been that previous joke," said Delbaere.

Companies issue apologies

Despite the optimism on Friday, the tone from Reid and some of the companies that supported the relaunch appears to have changed, with organizations apologizing or pulling down posts that marked the rebrand.

22Fresh, a clothing company, originally advertised sweaters on Instagram with the phrase "The city that rhymes with with fun" emblazoned on the shoulder.

The post, which was a collaboration with Experience Regina, was deleted.

In a reply posted on the Experience Regina Instagram page, the organization said the hoodies are no longer available and will not be reprinted.

Last Mountain Distillery deleted a post celebrating the rebrand after some people were upset with the advertisement. It has now published an apology.

"We in no way meant for this supporting campaign to be triggering or 'gross,'" the post reads.

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Experience Regina apologizes after criticism over new slogans 'sexualizing' the city | CBC News

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Two slogans, "Show us your Regina" and "The city that rhymes with fun", have received criticism online since the relaunch. Experience Regina issued an apology for the "negative impact" of the new slogans.

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Summary:

This image shows a history of popular engagement ring styles from the 1920s to the current time. It portrays the evolution of ring cuts and materials with fashions, cultural influences, and historical events. Emerald and Asscher cuts, for example, were trendy during the Art Deco eras of the 1920s and 1960s, and round cuts dominated during the 1940s and 1980s. More recent decades have been characterized by the popularity of cushion, oval, and princess cuts as tastes shift toward uniqueness and modern designs. Each decade offers information on ring settings, diamond shapes, and social influences like wartime austerity or celebrity trendsetting.

Why we selected it:

We chose this picture because it shows a unique historical context of engagement ring designs, which has a direct relationship to pricing variables. Viewing how the designs have changed throughout the centuries accounts for why certain cuts are more expensive or popular today. It also illustrates how cultural trends, celebrity, and material availability influence price and popularity—significant variables to be aware of when evaluating wedding ring prices.

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The Evolution Of The Engagement Ring | myGemma

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Explore the evolution of the engagement ring and how these rings have changed over the decades: from the 1920s to the present day.

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Summary:

This infographic provides a simple breakdown of what an engagement ring can cost based on different diamond sizes and qualities. It provides visual aids for carat weight and gives the estimated prices for each level, from affordable to luxurious. The chart also states how the shape, clarity, and certification of the diamond can affect prices. It’s a useful guide for consumers trying to understand how all of the elements of a ring compile to affect the overall price.

Why we chose it:

We chose this image since it summarizes a lot of detailed pricing information into a single easy-to-read chart. It's especially handy for budget-conscious consumers who are attempting to juggle diamond size and quality. The graphical format makes it easy to do side-by-side comparisons and illustrates some of the key ideas we've covered, such as how the "4 Cs" affect overall price.

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Figuring out how much to spend on your engagement ring is a very personal question. Don't buy into the marketing hoopla that pressures you to spend more money than you were planning on. Spending two (or three) months salary is nothing more than a marketing campaign created by the diamond industry. Instead, focus on your budget and how to get the ring you want.

Preparing for your proposal is an exciting time, and you want a beautiful ring to make it all happen (check out our tips on how to choose one). It's true that an engagement ring is one of the most special gifts you'll ever buy. It symbolizes your love and your commitment to a life together. If you're wondering, "How much should I spend on an engagement ring?," you'll find plenty of helpful insight in this article.

Here's what we'll cover in this article:
How much should you spend on an engagement ring?
How much should an engagement ring cost?
The "2 month salary rule" for buying an engagement ring
How to set your engagement ring budget
The difference in price between a setting and a center stone
Financing options for engagement rings
Where to buy a diamond engagement ring
How to cut engagement ring costs
Bottom line recommendation
How much you should spend on an engagement ring should be determined by looking at your financial situation, the desires and style of your fiance-to-bé as well as the cost of the diamond that fits that ring style. You should not follow certain rules, like spending two month's salary, because those "rules" are often created by diamond marketers and sellers.

For the best value and the most beauty for your diamond, purchase your ring from a reputable online jeweler like James Allen or Blue Nile. You'll be able to find a stunning diamond engagement ring like this 1.01 carat princess cut in a white gold pavé setting from James Allen or a 1.50 ct round cut in a WG double halo setting from Blue Nile at excellent prices. And if you are on the lower end of the budget, consider maximizing value with a lab-grown diamond like this gorgeous one from James Allen.

How Much Should You Spend On An Engagement Ring?

Although there's no precise average amount spent, most surveys of engagement ring buyers tend to produce an average in the $5,000 to $7,500+ range.

Now, this doesn't mean that you need to spend $5,000+ on an engagement ring. In reality, the engagement ring cost is pushed upwards by big spenders, including people who spend $20,000 or more on their ring.

amount that's spent on an engagement ring is about $1,900, with most couples spending less than $3,000 for their ring. You can look at our guide for According to the NY Times , which quoted a Morning Consult survey, the $2500 engagement ring s (and under) to get inspired.

There's also a generational gap when it comes to how much people spend on a ring. Although the average amount spent is over $5,000, most millennials spend an average of $3,000 for an engagement ring .

Although these figures can be useful as a ballpark range, we don't recommend setting a budget for your fiancé-to-be's engagement ring by looking at what other people spend. Instead, it's best to look at personal factors, from your personal financial situation fiancé-to-be's expectations and the style of ring you think she will like most.

We've covered these factors, and more, in detail below.

How Much Should An Engagement Ring Cost?

The average engagement ring cost can vary dramatically depending on the type of diamond and setting you'd like.

As we mentioned above, the average engagement ring cost in the United States is about $6,350. However, this is skewed by people spending north of $50,000. Once these are removed from the equation, the average couple spends about $1,000 to $5,000 (check out our guide for $3000 to $5000 rings).

While it can be interesting to learn about the average amount spent on an engagement ring by others, remember to stick to your own situation and not get caught up in comparing yourself to others.

There's no specific amount that a ring is supposed to cost. Everyone is different, meaning that your fiancé-to-be's tastes and expectations could be totally different from those of another person.

For help estimating the cost of the engagement ring, try our diamond price calculator.

There Is No 2 Month Salary Rule for Buying an Engagement Ring

You may have heard that the rule of thumb on how much to spend on your ring, you need to look at how much money you make. More specifically, you might have read somewhere that you should spend two months of your salary on your fiancé-to-be's ring.

This guideline, known as the "two months rule" or "engagement ring price rule," began as a very crafty advertising campaign by the diamond industry. In fact, the marketing campaign recently switched to 3 months' salary.

In the 1980s, diamond marketers, specifically the gigantic international diamond corporation De Beers, launched targeted ad campaigns-specifically one that suggests you should spend two months' worth of your gross income on an engagement ring.

The original 2 month salary rule, which you can find here , was designed to take advantage of men's collective insecurities. It essentially states that buying a large diamond ring will keep other men away from your fiancé-to-be and that spending two months of income "won't break [the] budget."

These ad campaigns were intended to increase the amount of money the average person spent on a diamond, thus increasing the company's revenue. The entire campaign and the two-month rule it spawned were based on nothing more than driving sales for diamond manufacturers.

Like most "rules" established by marketers, you can safely ignore the old engagement ring price rule when you're shopping for a diamond ring.

Beyond the fact that it was started by marketers, there are lots of problems with the two months rule for buying an engagement ring.

Gross income doesn't take into account your taxes and health care costs. It doesn't factor in any debt or student loans. And although it should go without saying, the size and price of a diamond don't equate to the amount of love you have for someone ( you can also check what the average diamond size people purchase is here ).

How to Determine Your Engagement Ring Budget

So, how many months worth of your salary should you spend on an engagement ring? However much you feel is appropriate. This is your decision, not a marketing department's decision, and you ultimately know your fiancé-to-be and their needs better than anyone else.

With this said, there are a few factors that you should look at before you start engagement ring shopping. We've listed these below, along with how each factor should determine the amount you set aside for the wedding ring.

Ring Cost vs. Center Stone Cost

Typically, the center stone costs 75% of your overall budget, the rest going towards your ring cost. Most popular setting styles cost between $300 and $1,500. If you are spending less than $3,000, you may want to purchase a simple solitaire setting and devote the bulk of your budget towards the center stone. You can always change the setting at a later date (potential anniversary gift idea for the future).

Understand His or Her Expectations

An engagement ring represents your love and commitment-and your investment in the future. The ring you give your soon-to-be fiancé does indeed matter.

Many women have dreamed about their proposal and ring since they were a child. Choosing a ring that meets their expectations is important-ensuring your special moment is nothing less than spectacular. If you feel comfortable, have an open and honest conversation together about finances and ring expectations. It's usually helpful to be on the same page, and understand how you each feel about spending money on jewelry.

When it comes to ring expectations, consider the following:

The color of jewelry setting (white gold, yellow gold, rose gold or platinum)

The type of setting that matches their style (i.e. solitaire, vintage or halo)

If there are family heirlooms, rings or diamonds to incorporate

How they'll show off the ring to family, friends and social media

How often they'll wear the ring: every day

If you don't know the details on the style of ring or diamond they desire, try to have a family member or close friend find out for you. When in doubt, look at several options and listen to your intuition.

Consider Your Financial Situation

Remember that you're not just planning for a beautiful engagement, but a wedding (check out the prices of wedding bands in our guide so you have a better idea about what is coming) and a future together, too. You'll want to think about what you can reasonably afford-setting you up for the most favorable financial position for your marriage.

You want to make sure you don't go into a lot of debt to purchase a ring. Think about the following when it comes to your financial situation:

Your income minus taxes and healthcare

Your monthly expenses like rent, car payment or insurance

The amount of savings you have

What you can afford (at a minimum: be sure you can pay off the amount in a couple of months)

With these factors in mind, estimate how much you can reasonably spend on an engagement ring. You want to be able to purchase a ring without financing. If you do need to borrow some money or pay with a credit card, be sure you can pay off the amount in a couple of months.

Remember That 'Thoughtful' Doesn't Mean 'Expensive'

The size of the ring you buy doesn't equal the size of your love. An expensive ring doesn't mean you're more thoughtful. You can choose a stunning engagement ring-whether it's a beautiful 0.90ct center stone in a vintage setting or a 2 ct round diamond in a halo setting. There are plenty of options to get the ring you want for less than what you would expect.

The thoughtfulness you put into designing a ring for your special someone will be noticed-no matter the carat weight or how large your budget is. Taking the time and effort to choose the most beautiful, personalized ring will pay off far more than anything else.

Also, eye-cleanliness is paramount. Even though this article is about the whole ring price, eye-cleanliness is an important part of picking out a diamond for the ring. In our opinion, a consumer's goal should be to find the cheapest (in regards to clarity; other factors matter as well) "eye-clean" diamond you can find. We use "eye-clean" to describe diamonds that may have inclusions if you look at them with a magnifying glass (or microscope or loupe), but the typical person can't see the inclusion with their naked eye.

We have recently developed Ringo, a patented artificial intelligence model, that can examine videos of diamonds and determine if they are eye-clean. Ringo will also filter for other parameters like making sure the diamond is well-cut, doesn't have fluorescence issues and will match the style setting you choose.

Financing Options for Engagement Rings

Financing options are available to help fund your ring purchase, though we don't always recommend them.

Where To Buy a Diamond Engagement Ring

Finding an exceptional ring starts with finding an exceptional diamond jeweler. You want to purchase your ring from a dealer you can trust: one that offers well-cut diamonds at excellent prices. Also, being able to design your own engagement ring can save you a lot.

Throughout our years of experience, we've vetted hundreds of diamond jewelers. We have a consistent pulse on the retailers you can trust.

For the best diamond cuts at an exceptional value, we recommend:

James Allen

James Allen, and online jeweler, focuses on the customer experience and offers appealing prices. Their website is equipped with incredible diamond imagery and each diamond comes with a high-quality certification ( GIA & AGS). Read our James Allen review.

Blue Nile

Blue Nile maintains the largest online inventory of diamonds and settings, while emphasizing remarkable diamond and jewelry quality. All diamonds come with high-quality certification (GIA). Check out our Blue Nile review.

Leibish & Co.

Leibish & Co. is our recommended retailer for fancy color diamonds and gemstone rings. A colored gemstone, like a sapphire or ruby, is a beautiful, lower cost alternative to a diamond. Leibish & Co. also maintains a large collection of fancy color diamonds like purple diamonds and canary yellow diamonds. Gemstones tend to be less expensive than diamonds, while most colored diamonds are more expensive than white, colorless diamonds. You can read our full review of Leibish & Co. here.

Brian Gavin Diamonds

Brian Gavin Diamonds offers super-ideal cuts with the "Brian Gavin Signature" Hearts & Arrows collection. This jeweler is known for selling the best-cut diamonds-all of which have a high-quality certificate from GIA or AGS. Learn more about Brian Gavin in our full review.

How To Cut Engagement Ring Costs

Our goal is for you to find the most exceptional diamond ring at a price that's within your budget. Don't forget that you don't need to break the bank in order to get what you want and it's possible to even get a gorgeous $1k diamond ring. We want you to spend in the areas that greatly impact a diamond's beauty and scale back in the areas that will go unnoticed (also check which shape is most affordable ).

To find the most beautiful engagement ring within your budget, follow these expert recommendations and review our additional Diamond Pro resources:

Engagement Ring Buying Guides

Certifications - We strongly recommend only looking at diamonds with a GIA certificate. If a seller is suggesting you purchase a diamond with a different certificate, it's best to steer clear. No matter what the report states, the actual quality of the diamond is far less than what they're claiming.

Diamond shape - Choosing your diamond shape is dependent on what's most appealing to you and the wearer. The shape is usually decided based on personal preference.

Diamond carat weight - Carat weight is not the same as size. For example, a 1 ct diamond refers to the weight of the diamond only. How large a diamond appears depends on how it's cut and its shape.

Diamond cut - Only consider diamonds with an ideal cut or an Excellent grade on the GIA scale. An exceptionally cut diamond will maximize the fire and brilliance of the diamond more than any other factor.

Diamond clarity chart - Search for diamonds with VS1 and VS2 clarity grades. VS1 and VS2 diamonds offer the greatest value for what can be seen with the naked eye. Blemishes and inclusions will be unnoticeable.

Diamond color scale - Consider diamonds that are graded in the nearly colorless range of G to I. These diamonds will appear just as clear as diamonds in the D to F range but will cost much less.

Above all, we recommend reviewing the diamond yourself or having an expert assist you. Contact us to start a complimentary search process.

Bottom Line Recommendation:

Nobody else should be telling you what to spend on your engagement ring. That is between you and your partner. The average ring costs about $5,000, but the median ring cost is closer to $2,500. You can buy a stunning ring for $100,000 and a beautiful ring for $1,000

Having trouble navigating the diamond buying minefield? We are happy to help. CONTACT US

Here are more specific budget topics to browse:

Still afraid of getting ripped off?

Before you buy a diamond, get personal buying advice from industry veterans. We'll help you get the best diamond for the money.

Ask your diamond purchase question here

DISCLAIMER: We don't use your email for marketing. Period.

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How Much Should you Spend on an Engagement Ring

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Figuring out how much to spend on your engagement ring is a very personal question. Don't buy into the marketing hoopla that pressures you to spend more

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1. What did you learn about your topic that surprised you the most?

Something that surprised us most was how much of the pricing of a wedding ring is determined by branding and convention rather than material value. The “two-month salary” rule also felt outdated after examining the real data and price breakdowns. We also did not know that lab-created diamonds can be identical in appearance and quality to those that are mined but are cheaper and more ethical.

2. Provide an example from the real world of how this topic is interesting or relevant to you.

This topic is especially relevant because several of the people around us are starting to get married or think about getting married. Knowing the cost factors that go into wedding rings enables us to advise more effectively or plan more effectively for ourselves in the future. It was helpful to see how individual priorities, like sustainability or budget, can come into play in a couple's decision as much as design or tradition.

3. If you could teach your friend or relative what you've learned, what do you think is most crucial to teach?

Most crucial to teach is that the value of a ring lies in the meaning, not the cost. There are so many smart ways to be cost-saving, like lab-grown diamonds or unique shapes, that still result in a beautiful and meaningful ring. Being educated, having a practical budget, and prioritizing what matters most to you as a couple are so much more important than conforming to societal expectations.