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In this Padlet, I will be evaluating the cost of wedding rings and what to expect when purchasing the perfect ring for your partner.
The topics or factors I will cover are the types of diamonds or gemstones and their prices, how to budget for the purchase, and how to make the right decision without going into debt.
After reading through this Padlet, one should have a better idea on how to become prepared to make this big decision.

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In this article, the writer covers the different factors to think about before going to purchase a wedding ring. The article puts emphasis on "carat, cut, clarity and colour" and knowing your budget before starting this process is a crucial first step. To wrap up the article, the writer mentions some expert tips and says that sitting down with an expert is a good practice.

I chose this article because it covers all the factors to keep in mind when making this purchase. I found the part about the alternative choices useful because I believe many people think expensive diamonds are the only option when it comes to wedding rings.

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On the lookout for the perfect engagement ring this month? You wouldn't be alone - according to a survey on wedding trends in Canada by Weddingbells magazine, one in five proposals take place in December, and 35 per cent of engagements occur between December and February.

Whether you're planning to pop the question, or have recently gotten engaged and are now ring-shopping together, there's a lot to consider before making the big purchase (it can be a significant financial commitment; the average engagement ring is expected to cost $3,125, according to the samesurvey).

First, you'll need to think about budget and learn about the "four c's" of diamond shopping, all of which will significantly affect the ring price: carat, cut, clarity and colour. Then, you'll need to consider whether you want to buy a ready-made ring, customize an existing style to your needs, or go the truly custom route. Other important decisions to be made along the way include the type of diamond you're looking for (if you want a diamond and not another gemstone) - options today can include natural, coloured, and vintage - and, beyond ensuring that they're ethically-mined and conflict-free, whether the country of origin and precise traceability are important for you. Finally, there are material and style trends to consider; for example, recycled gold is becoming more popular, and some buyers are forgoing a solitaire design in favour of smaller, stackable rings.

To help you select the right engagement-ring, we asked three industry experts - Alison McGill, editor-in-chief of and editorial director of Mariage Quebec, Tonia Guerrera, director of bridal and prestige jewelry at , and Melissa Gobeil, goldsmith and co-founder of - to share their insider insights and must-know tips for navigating this big purchase.
Know the basics
A diamond's cut, clarity, colour and shape are all important factors that will affect the price when you're shopping for an engagement ring. But according to Guerrera, the cut is the most important element to consider, "It's what you really need to look for, because you don't want to compromise on the cut; you want to maximize the brilliance and the beauty of the diamond." And keep in mind that if a retailer or jeweler doesn't have the exact style and type of gemstone you're looking for in stock, you can always request it by special order."50 per cent of our bridal sales comes from special orders," says Guerrera.
Selecting natural diamonds
With natural white diamonds, ideally you're looking at a conflict-free, ethical diamond where you have some idea of its origin. While every jeweler and retailer may use diamonds from different sources, a diamond's supplier and country of origin can provide invaluable information. "When you know the origin of your gemstone, you have a better or clearer picture of the manner in which the stone was mined, and the social conditions under which it was mined," says Gobeil. (According to her, some good gemstone options when it comes to meeting higher environmental and social standards are Montana sapphires from the United States, sapphires from Sri Lanka, Canadian diamonds, and diamonds from alluvial (or stream bed) mines in Australia.)

"If you're shopping for a diamond engagement ring, you should be asking about the origin of the stone if you can," says Gobeil. For a white diamond, she recommends Canadian stones, which are responsibly mined and "upheld to the highest ethical and social standards." Attic works with CanadaMark diamonds mined in the Northwest Territories, says Gobeil, adding that the supplier recently began offering tracing even for smaller diamonds (under half a carat in weight).

"All of our vendors that we get our diamonds from [at Birks] have to comply to the Kimberley Process," says Guerrera. "It's a process to make sure that everything was conflict-free [and] ethically sourced." And all Canadian diamonds purchased at Birks are traceable to the mine where they come from; clients can look up this information online, Guerrera notes.

The industry is still developing in terms of traceability, but knowing the origin of your stone can be helpful in helping you make "the social, the environmental decisions you want to make," explains Gobeil. And this type of information should become more accessible soon - the Gemological Institute of America (GIA), for example, just launched a new Diamond Origin program where, Gobeil says, "they work with major mining companies to scientifically cross reference the rough diamond with finished or polished stones to authenticate its origin."
The buzzy alternatives: other precious stones and vintage, coloured, and lab-grown diamonds
All three experts all agree that colourful diamonds, diamonds with unique quirks (such as "salt and pepper" diamonds) and alternative precious stones are becoming popular alternatives to the classic white diamond. "We're seeing a lot of fancy stones like yellow diamonds, sapphires of all colours, rubies, garnets," says McGill. "I like to see rings that are different and very reflective of the person, and I think you can really do that with a coloured stone."

Vintage diamonds are another option - at Birks, for example, there's a bespoke program where you can design a ring with a custom gemstone inside, which could be a vintage or heirloom stone. "When we're talking about vintage pieces, generally speaking what I have experienced is they're heirloom pieces, so there's some sort of sentimental and personal connection which I think is really nice," says McGill. It's a sustainable choice, because you're reusing an existing piece in a new way, though it's worth having them checked for scratches, chips and other damage.

And lab-created diamonds (which are structurally and visually identical to mined diamonds) are beginning to gain some acceptance in the fine jewelry market, at least internationally. De Beers has started selling synthetic diamonds and several direct-to-consumer brands focused on lab-grown diamonds have launched worldwide. "[Lab-grown diamonds] is really an emerging topic that I think people are getting educated about, and it's really becoming a conversation point," says McGill. "Definitely people are very curious about it ... from an ethical and sustainability perspective." Ultimately, she suggests doing your research and asking a jeweler if you want to know more about the differences between natural and lab-grown diamonds. "Don't be afraid to ask these questions when you are looking at a diamond, because you want to feel confident about what you're buying and where your stone is coming from," says McGill.

Currently, Canadian fine jewelers like Birks and Attic are not offering lab-grown diamonds, but that could change in the future. "We have definitely been receiving requests, but it's not something that we are exploring at this time," says Gobeil.
Choosing a metal
Once you have a design and stone in mind, you'll want to choose a metal for the setting. According to Guerrera, platinum and white gold continue to be the top choices for rings (the former has a slightly more matte finish), but yellow and rose gold are "picking up" in popularity. Birks only carries 18-karat gold. "You see it in the weight and the quality," says Guerrera. "It has more of a substance and more of a look [compared to 14- or 10-karat gold]."

"For durability, our material of choice is 14-karat. It's very beautiful and complementary on a lot of skin tones," says Gobeil, noting that Attic does offer pieces in 18k gold upon request and for custom designs. The company also offers pieces in post-consumer recycled gold, which they purchase from an Ontario refinery. "It's the same quality [as new gold] and there is no price difference," says Gobeil.
The newest trends
"It's an interesting time because just like weddings have become kind of anything goes, so have engagement rings, and there's really not one cookie cutter model for everyone," says McGill. While classic designs such as the iconic radiant-cut or princess-cut solitaire ring and the halo setting (which features smaller gemstones set around a large center stone) continue to be dominant, McGill notes that she's "seeing people move towards really individual designs that really suit them." Three-star rings, band stacking and more minimalistic designs are other rising styles that McGill has noticed recently.

Other emerging trends in the space include "fancy shape gems" such as oval, marquise and pear-cut stones, says Gobeil, noting that some of her clients are forgoing the classic solitaire ring in favour of stacking designs or even sets of rings.
The experts' top shopping tips
"Engagement ring shopping is kind of like shopping for a wedding dress," says McGill. "Everybody always tells you, explore things that you might not have explored before ... you may have your heart set on a round-cut diamond, but maybe an oval looks better on your hand, or maybe a coloured stone looks great with your skin tone." There are many options in the market, and she recommends taking the time to look, try on, and consider.

"Wherever you go, ensure that the retailer has a reliable after-sale program," advises Guerrera. "It's a long term relationship with the retailer that you're dealing with [...] at Birks, we have a 90-day return policy, free sizing, free engraving, lifetime diamond warranty, a trade-up policy, a GIA certification on the diamond and on the shank that matches to make sure that nothing gets switched in."

Gobeil suggests that you "go simple" and "invest in classics: timeless, quality pieces," and notes that word-of-mouth recommendations can come in handy when it comes to jewelry shopping. "Book a meeting and sit down with the jeweler, and use your feelers. I think that it's really important if you can to do that," says Gobeil. "It's a big purchase and you want to feel good about all the steps that it takes. It's a very fun process, but you have to find the right match."
Truc Nguyen is a Toronto-based writer, editor and stylist. Follow her at @trucnguyen.

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A modern primer on engagement ring shopping | CBC Life

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On the lookout for the perfect engagement ring this month? You wouldn't be alone - according to a survey on wedding trends in Canada by Weddingbells magazine, one in five proposals take place in December, and 35 per cent of engagements occur between December and February.

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This website covers the process a man went through when deciding on a wedding ring with the main focus being on deciding a price amount that works best for the buyer. The writer discusses his partner's personal opinions, his financial situation and what he could justify spending without going into debt.

I chose this website because of the real-life example that this man shares and his explanation for his decisions. I found the part about "Deciding on an Actual Amount" useful because he talks about how he made the decision on a ring amount, turning down the myth that the price of your wedding ring should cost 3 months' salary. He puts an emphasis on being mindful of debt and how to avoid or manage this aspect.

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This website goes into detail on the mainstream idea that you should spend 3 months' salary on a wedding ring and questions it. The article calculates 3 months' salary for different career salary points and talks about the average amount spent on wedding rings in Canada being around $3500. Societal pressure can sometimes make people believe that a ring needs to cost more to mean more but this article puts that idea to rest.

I chose this website because it talks about the idea of the 3 months' salary and why that idea doesn't work for some people. Choosing a ring best fit for your situation is the best option.

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You've found the love of your life and it's time to take your relationship to the next level. And that means one thing: buying an engagement ring for your forever partner.

At this point, there's a lot of questions to answer, including how much money you should spend on the ring.

There is a widely cited "rule" that you should spend three months' salary on an engagement ring. This stems from a 1930s De Beers advertising campaign that convinced men to spend roughly one month's salary on this purchase.

By the 1980s, one month's salary was no longer the rule. It turned into two months. And today, many believe that a minimum of three months' salary is a good starting point.

But Is It True?

Before we go any further, remember this: an engagement ring is all about love and commitment. While money always comes into play, it's the thought that matters.

Let's start with a few examples based on the three months' salary rule:

Annual income: $30,000 - Cost of ring: $7,500

Annual income: $60,000 - Cost of ring: $15,000

Annual income: $120,000 - Cost of ring: $30,000

In Canada, the average cost of an engagement ring is $3,500.

For most people, that's a far cry from three months' salary. Think about it this way: $3,500 breaks down to a monthly salary of $1,166 or an annual income of roughly $14,000.

In other words, most people aren't spending three months' worth of salary on an engagement ring. In fact, with an average Canadian earning $54,630/year or $4,553/month, they aren't even spending what they earn in one month.

Societal Pressure Can Weigh Heavy On Your Mind

Societal pressure is unrelenting. You see what your friends are paying for engagement rings. You see celebrities sporting rocks the size of a baseball. And of course, your online search turns up one "rule" after the next.

Additionally, internal pressure and stress have the ability to wear you out, cloud your judgment, and lead you down a dangerous financial path.

These tips can save you from caving to societal pressure:

Don't associate the cost of an engagement ring with love or affection: It's easy to believe that spending more shows the other person how much you care. This isn't true. It's all about your love for each other.

Don't try to keep up with the Joneses: You don't have to match the engagement ring that your best friend purchased for their partner. You don't have to keep up with all those Instagram influencers who are showing off their sparkling diamonds. Do your thing and let them do theirs.

Do your research: It's a common misconception that you have to spend tens of thousands of dollars (or more) to purchase a high-quality engagement ring. Do your research to learn more about your options. For example, if you're buying a diamond engagement ring, cut, colour, and clarity always come into play.

So, What's the Answer?

Even with all this information, you may still be wondering if you should spend three months' salary on an engagement ring.

Here's the best answer we can provide: it depends!

If you're on a tight budget and three months' salary is out of the question, don't push your financial limits.

Conversely, if you're comfortable spending three months' salary or more, it's perfectly acceptable to do so.

You don't have to adhere to any rule when buying an engagement ring. Do what's best for you, your financial circumstances, and of course, that special someone in your life.

Whatever your budget may be, we'd love to help! Browse our inspiration gallery of engagement ring designs, view our latest creations on Instagram, and contact us to schedule a virtual or in-office consultation.

We look forward to meeting you!

Jonathan is the President & CEO of Kimberfire - a brilliant way to buy engagement rings, loose diamonds and fine diamond jewelry in Toronto, ON, Canada. You can find him on Twitter. Previously Jonathan worked in the Middle East, Belgium and Canada in various roles in the luxury goods sector including manufacturing, business development and diamond wholesale. Jonathan also spent a number of years as an investment banker with one of the large Canadian banks, where he focused on natural resources and diversified issuers.

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Should You Spend Three Months' Salary on an Engagement Ring? | Kimberfire

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You've found the love of your life and it's time to take your relationship to the next level. And that means one thing: buying an engagement ring for your forever partner. At this point, there's a lot of questions to answer, including how much money you should spend on the ring.

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This website dives into the prices of wedding bands and what to expect when budgeting for this cost. When budgeting for a wedding and engagement and wedding rings, people do not always take into account the price of the bands themselves, normally focusing more on the diamonds. In this article, the writer mentions the average price for wedding bands being around $2000 together, not including the diamonds. The writer then mentions different factors that affect the band prices like engravings and the material chosen.

I chose this website because it goes into detail about wedding bands, a topic that some people sometimes forget to budget for. I find the part in the final thoughts of the article about budgeting for this price and if necessary, finding a different area of your wedding to sacrifice price, as the rings are the one things from your wedding that stay with you every day.

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What Is The Average Price Of A Wedding Band?

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There is plenty of 'common knowledge' about diamond engagement rings - such as the myths that engagement rings cost x month's salary and so on - there isn't a lot of talk about wedding band budgeting.

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This video goes into detail about buying a diamond and what to expect when entering the market. This video covers "the 4C's" that were covered in another website I have added to this Padlet but with a main focus on clarity. She breaks down the prices of the different carat sizes ranging from $1000 all the way to $90000 for real diamonds. After going through the process of what you need to cover when making this purchase, she ends with some tips and tricks when doing so.

I chose this video because of how focused and in detail, she goes into the actual prices and process. Knowing the prices for the different carat sizes and your budget is useful when figuring out what works for you.

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Engagement Ring Shopping: Diamond prices in 2022 & how to buy one!

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Video #2- How much do people actually spend?

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Video #2- How much do people actually spend?

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This video has different people explaining the price of their rings, their partners and their salaries, and if they contributed to the purchase of the ring to help their partners. While some couples both contributed, others did not. A lot of the salaries varied on a big scale and so did the ring prices, showing that the price of the ring simply depends on what the person is willing to spend and although the salary does play a role in the person's budget, it does not always completely dictate it.

I chose this video because it shows that the cost of a wedding ring does not have to be a certain amount and it all depends on the person's budget and what they want to spend. There is no perfect price or rule that needs to be followed when making this decision.

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How Much Do People Spend On Their Engagement Ring?

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This video shows alternative options to regular diamond choices and what to possibly avoid to make sure you get the best option for your budget. The video covers alternate options that may not work best for engagement rings like opal and turquoise because they are not tough stones which makes them less durable. One should pick more durable stones like moissanite, sapphire, and rubies.

I chose this video because it helps highlights the alternate options when looking into purchasing wedding rings. Many of the alternate options cost less and are sometimes made more ethically while still having the same look.

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The Best Stones For Your Engagement Ring | Avoid Wasting Money

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This video summarizes what to think about when deciding on a budget for your wedding ring. She discusses the different factors to consider before deciding like long-term and short-term goals, and all the financial goals you have between 1 to 5 years. She also discusses the fact that the return on investment is small and this should not be seen as such. Research is a big factor when deciding on a budget because both people should know what they like in a ring. Knowing what types of styles they like that also fit into their budget helps to narrow down options and save accordingly.

I chose this video because of the different aspects she discusses and all the factors that should be considered. I find it useful to really analyze one's financial goals for the next 5 years when deciding on a budget because certain things may be a bigger priority than the rings at that moment.

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How Much Should You Spend On An Engagement Ring | How Much To Spend On A Wedding Ring in 2021

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This image shows the different cuts of diamonds that are available. Depending on the size and cut of the diamond chosen, the cost will differ as well.

I chose this image to show the options that are available when evaluating wedding rings and knowing what you are getting for your money. I found this image useful because it shows many different cuts that can be chosen.

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This image shows the size of carats that can be chosen for a wedding ring.

I chose this image because seeing a visual of the different sizes of diamonds helps people understand why there is a price difference between the carats.

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1. What surprised me the most about this topic was all the different factors to consider before making this decision. I didn't realize the full extent of research people would need to do before choosing a ring.

2. This topic is interesting to me because I am in a long-term relationship where conversations about marriage are becoming more frequent. We have discussed our financial goals for the next 5 years, our main focus being a house first but trying to decide when would be an appropriate time to look at rings.

3. The most important knowledge I would pass on to someone close to me about this topic would be to focus on budgeting and ignore the myths about how much a ring should cost. They should focus on researching their options as this is something that stays with them every day after your wedding (hopefully).