How much is common to spend on an engagement ring?

Question

I assume an engagement ring is separate from wedding rings. Am i correct? if so, obviously woman trickery. anyway, i'm ready to propose and i guess the custom is to get an engagement ring. is this true? and how much should i spend? I figured maybe $800 to $1000. is that good? does anyone know anyplace i can get the most from my money? thx

Answer 1

general rule is that the ring should be what you make in 3 months.

Answer 2

It is customary to spend 2-3 times your monthly pay checks, but I would spend as much as I feel comfortable with. Try researching online, You can probably save 30%. Try http://www.jamesallen.com/ or http://www.bluenile.com they both have well priced diamonds and high quality rings with a 30 day return policy.

Answer 3

Traditionally, the cost of the engagement is 2 months wages.  And yes an engagement ring is seperate from a wedding ring, however most come in sets now.

If you are getting the traditional diamond engagement ring/set $1000 is a low-ball figure.  My Fiance however, just bought my opal (my favorite) engagement ring for $16.62 - and it's GORGEOUS!.  Checkout places like Overstock.com, Ice.com, and even some of the places on ebay for a great deal on some amazing rings!

Answer 4

Yes its a good money for a good and nice looking ring.

Answer 5

My fiance spent $1300 on my ring and I thought that was a little much but I was very happy with it.  I had picked out one that was around $300.  Apparently it is appraised at around $3000.  He bought it at worldjewels.com.  This is buying it directly from the factory so you don't get all the extra charges added on.  The downside is that it is not insured when you buy it from here and you only have 30 days to return it if it is not what you wanted.  Fortunately we are very happy with  my ring.  You might at least want to check the site out, it is the cheapest place we found and we happy with the results.

Answer 6

"Common" is different depending on where you are.  The national average right now is around $2500 - $3000.  However, this is the average, and generally people spend more in places like New York (where the average diamond size in an engagement ring is 1.6 cts) or  California (average diamond size 1 ct.) and less in most southern states where the average diamond size is less than 1/2 carat.

Jewelers (and some women) will tell you to spend 2 to 3 months' salary on a ring.  I think that's a bunch of hooey, as it was a ploy by DeBeers ("the diamond people") to get men to spend more on an engagement ring by making them believe there was some rule they should follow.  I have never known anyone personally who has followed that rule.  I know that if my fiance had done that I probably would have had to strangle him for spending our house down-payment money on a piece of jewelry.

If you have $1000 to spend you can get a very nice ring.  If I were in your position and had no idea what sort of ring my young lady was interested in, I would go to my local jeweler and purchase a loose diamond in my price range (the best I could afford) and have it set into a temporary solitaire setting, which I would propose with.  Then after she said yes, I would take her back to the jeweler to have the diamond set into the ring setting of her choice so that she could pick the metal and prong style herself.  That way she could have the surprise of a ring, but eventually get one she loves.  Also, you don't end up spending way more than you wanted.  Everyone wins!

Answer 7

I didn't get mine on when I got engaged. I feel it should be more about the love then the ring. I say don't spend more then $200 on an engagement ring. Besides unless she is a jewelry sales person, go look at pawn shops and then walmart.. There is no sense in spending even $800 dollars on a wedding ring. Mine is only costing $50 and it is coming from walmart.Its only going to be a band, no stones.  I don't mind one bit, I am in love with him, its what he can afford. and to me I would of wore a ring out of the quarter machines. To me its just a sign to the world saying hey I am off the market. But get whatever you can afford. If you can afford a $1000 engagement ring then get it. But in doing that know you need about $2000 at least for the wedding ring.. and if you have that much for her rings just imagine how expensive the wedding and reception would be.. and easy $30 thousand.. Good luck though..

Answer 8

:) Yes, an engagement ring is supposed to be the ring you present to your girlfriend, asking for her hand.

The wedding rings are exchanged by both the woman and the man ON the wedding day during the ceremony.

You won't be able to find a decent sized ring for the money. (If you're looking for earth-grown diamonds)

You can, however, get synthesized diamonds. They take an actual diamond grain, very small, and grow it in a lab. It takes abut 2-4 weeks. It takes the planet years and years to grow diamonds. This way, you know that your diamond is symbolizing love and is not tarnished by what is going on with the environment and the unsettling news of African diamond mines.

When my boyfriend and I first discussed getting married, I let him know I didn't want a real diamond. I discovered a company online with its own lab that grew diamonds to your specific size. Great thing about it? A 2.5 Carat diamond is about $350!! Talk about inexpensive! More money for your wedding and future, 'eh?

You can actually go to "Diamond Nexus Labs" website http://www.diamondnexuslabs.com/product_... and order a catalog for free. They mail it to your home.  

Answer 9

Spend what you can afford.

Yes, the engagement ring is separate from the wedding band, which is traditionally an eternity band that matches or complements the engagement ring. Occasionally, some couples will buy bridal sets AND an engagement ring, but that's not too common.

The traditional guide for the cost of the engagement ring is 2 - 3 months salary for the man, but like I said ... buy what you can get without financing it, or going into debt.  

Answer 10

It's all up to whatever you have to spend.  Take your time finding the right ring.  There are rings called "Stand Alone" which is what I have, it's all one piece and my husband proposed with it and then we just took it off before the wedding and he put it back on my finger at the ceremony so an engagement ring isn't always separate from an actual wedding ring.

Congrats and good luck!

Answer 11

My engagement ring was $500. It's very simple, a gold band and a single solitaire - the compliment I always get is how classic it looks. You can buy beautiful rings for under $1000, I think your budget is just fine.

I got mine from Independent Jewellers, but I believe that's a locally owned store and not a chain, so it's no good unless you're around the Edmonton, AB area. Ben Moss is one of my favorite jewellery stores.  

Answer 12

Mine was $50 and is a beautiful aquamarine.  Most diamond rings go from $500-millions.  What do you think your girlfriend would like?  Perhaps you can propose and then pick out the ring together.

Just don't get something you have to borrow money for!

Answer 13

I say go with what you can afford. There is no sense is going into debt over a ring. If you have to set up 'payment plans' you CANNOT afford it, so move on to something you can afford.

A marriage is not about how much the ring costs. jmho

Congrats btw and good luck!  

Answer 14

Everyone has a different opinion on what you should spend. My advice...spend what you can afford. My engagement ring was around $2000...and we got it from bluenile.com (which I suggest looking into, even just to educate yourself on the jewelery/diamonds/etc) We picked my ring out together...we were already living together, so why not make sure it is something we both want? We spent that because we could afford it. We did not borrow money, or do payment plans. We did what we could afford. Your girlfriend I am sure will be happy with whatever you pick as long as it is from your heart. Goodluck.  

Answer 15

My husband spent $1500 on my set (wedding and engagement rings). I do have a plain wedding band that I just wear around the house, so I don't "mess" up my rings.

Answer 16

The common rule of thumb is two months salary but you should not go into debt and do not go to Jareds jewelers they are over pierced and very poor quality

Answer 17

My boyfriend and I are looking at rings from Kay Jewelers.  They are nice rings, and they aren't too expensive.  Most people suggest spending 2-3 months wages, but in my opinion that is a little excessive.  I have told my boyfriend I don't want him spending more than $400-$500 on my engagement ring.  I'd rather us use that money towards something more important like a house one day.  And yes, engagement rings and wedding rings are seperate.  The engagement ring is the one with the main diamond on it, and the wedding ring is either a plain band or it has smaller stones on it.

Hope this helps!  And congrats on getting engaged soon!