How much to spend on an engagement ring???

Question

hypothetically how much should be spent on an engagement ring??? im not thinking of getting married immediately, maybe a couple of years, but im thinking of it

im 22 we have both just finished uni and i earn £27,000 approx $50,000. she earns slightly less.

how much should i spend or alternatively what percentage of my income should i spend.

i was thinking about £4000/ $8000

thanks

Answer 1

That's a loaded question and you're not going to get a helpful number.  It depends on so many factors.

One, learn about the 4cs (cut, clarity, color, carat).  Once you've decided in what order is of most importance to you (and your future fiance), then you can start thinking of budget.

For us, for example, my order of preference was cut, clarity, color, carat so I was able to get my ideal cut, VS2, G, .75 for $3,000 for an all together price of $4,000 and combined we make around $120K.

If for you size is more important, you may end up spending $8K or $20K.  It all depends on your parameters.

And don't believe none of that 2 months salary c**p because that's what it is...c**p.  It's a marketing ploy to get you to spend more money and those that fall for it are suckers.

Edit: Please don't go to Zales (or any other mall chains for that matter).  A 1/2 carat at Zales could cost you $1,000 more than if you were to go to a better jewelry store.  And the stones you do get at a cheap price are just that...cheap.  Total rip off.  Go to www.pricescope.com for help on where to find a good diamond at a good price.

Answer 2

I would say that would be about right.  My suggestion would be is to buy American...You will get better value for your pound/Euro whatever.  Try online:  I have a few websites that are reliable and have a 30 day money back guarantee.  They also do not charge for shipping and they ship worldwide.  Try bluenile.com and worldjewels.com.  Good Luck

Answer 3

The experts say expect to spend about 3 months salary on this investment!

But basically is what you feel comfortable spending... or what is within your budget.

$8000 could buy your loved one a Fantastic ring... atleast here in the states it could!

Answer 4

As much as you both are comfortable spending. I think $8,000 is an insane amount to spend on a piece of jewelry unless you are made of money, but to each their own. My engagement ring was around $350, and I wouldn't spend a penny more.

Answer 5

however much is right to ur heart

my cousins ring was at a pawn shop for $700

he got it for her for 250

she loves her ring very much and wont let him get her a better one

(it was during the christmas sale and they had everything knocked down)

Answer 6

it really depends on how much you spend monthly, if you have no bills you can spend a lot more on it then if all of your monthly income goes to bills..You need to figure out how much you can save,  good luck!

Answer 7

I think in theory, it is 2-3 months salary worth.  You should spend what you can comfortably afford, but also keeping in mind that it is a gift that will last a lifetime.  Personally, an engagement ring is not something you should go into debt for.  You and your potential spouse should have the same feelings toward money/savings as well.

Answer 8

In my opinion, $8000 might be a lot for a ring, but it goes according to what your fiancee likes and wants. I know the rule that says you should spend at least two paychecks, but that isn't always the Case now and days. If you go to Zales, they have really nice rings for under $1,000 ranging from 1/2 caret all the way to 1 1/2 carets. I am one who believes that a ring should "speak" to the woman. I am not sure if you live in the US but I'd say go to Zales, and they can give you a nice size platinum ring for about $2,000. But again, ask your gf (future fiancee) what she likes and take it from there. But I think from 700-2500 is good for a ring.

Answer 9

however much you are comfortable spending.  

the jewelers want you to spend 3 months salary but then they want your money.

educate yourself on what you will be buying so you know you are not overpaying.

Answer 10

wow! $8000 can buy you one heck of a ring... :/

if you can afford that great... but i wouldn't go soley on price.. it really depends on what you both like.... (it's of my opinion that the engagement ring is both of your ring not just hers)...

you also want to look at the option of getting a wedding set (engagement and wedding ring) if she is planning on wearing both...

make sure you are educated on the diamond

http://www.bluenile.com/ (my husband used this site for the education part) and what type of metal the band is made out of...

my husband is a materials engineer and he pretty much created my ring specifically for me... with near flawless australian diamonds and gold that contains no nickle (as all gold contains nickle to make it harder and I am allergic to nickel) and we bought the pattern mold for it from New York City's diamond district and he had a jeweler assemble it... he did a wonderful job and it appraised for 3x the amount it cost him to make it... though not everyone can do this... i wouldn't trade my ring for the world...

Answer 11

Personally, I told my husband that I would be satisfied with a quarter machine ring. The relationship isn't calculated by the size of the rock-but some girls are different. I'm not much into materialistic things so that doesn't matter much to me, I would ask your girl or her friends they could give you input on what she fantasizes about-(ring wise!!!LOL) Good Luck and Congrats!!!!