Ahh… there it is: the question that makes even the strongest men sweat. “How much should you spend on an engagement ring?” It’s a delicate question. Spend too much and you seem at best a showoff and at worst reckless. Spend too little and you come across as cheap. That’s why you want to avoid both scenarios at all cost. Sounds easy, right?
Unfortunately, there is a lot of misinformation online about what an engagement ring should cost. You’ve probably heard of the two-month salary rule. It’s an old and quite flawed rule. According to it, if you make, for example, €3,000 a month, you should spend € 6,000 on an engagement ring.
However, most couples get married in their late 20’s. They often have student loans they are paying off or are saving to buy a house. The gross income of 3,000 euro is a lot more than what they actually take home in net pay. Combine this with the increasing costs of living and coughing up 6,000 euros seems a lot less easy than it sounds.
There are several factors you need to take into account when you want to find out how much to spend on her ring. First, there is your partner’s expectations and secondly your financial situation.
We get it, really. You’re not looking to spend too much on a ring. She knows you love her, and she loves you, so it’s the thought that counts. Right? Well… maybe not so much. You have to realize the ring matters to her. It is a symbol of your love and commitment. It shows you are prepared to build a life together. Many women have dreamed about their engagement ring for a long time. For her, it will be the most important piece of jewelry she will ever wear. Don’t mess this one up and make sure you’ll get a ring she will love. You get bonus points if the ring will make her friends a bit jealous.
Sounds heavy, but you can relax. She will love and appreciate the fact that you spent the effort to find her the perfect ring. Most women are not looking to bankrupt you over an engagement ring.
The most important thing to remember is that you don’t want to put yourself in a high amount of debt for the engagement ring. What you should look at are:
The best way to make sure you’re both happy is to have an honest conversation about expectations and finances. You’re going to share a life together, so you should really be on the same page when it comes to things like this. And who knows. Maybe she’s open to the idea of going Dutch on the engagement ring.
When you’re saving money for a down payment or pay off student loans, you need to figure out how the engagement ring fits in with those goals. Is it possible for you to save a couple of hundred euros a month? Add this to some savings you already have and you know the budget you’ll have in a few months. When you know how much you want to spend on an engagement ring, you can start looking around for the ring you want.
Did you notice it’s kind of hard to find out what people spend on an engagement ring? We sure did, but we found them for you.
The amount people spend in general on an engagement ring:
In the Netherlands and the United Kingdom, in general, people spend about three weeks of salary on the engagement ring. People in the United States and Australia seem to spend a ring of about 1.5 months worth of (gross) salary. This is quite close to the old ‘two-month salary’ rule. China takes the cake when it’s about engagement rings in terms of salaries. They spend more than 2 months’ (about 2.3) worth of salary on their engagement ring.
Don’t let these general numbers pressure you into buying a diamond ring of that specific amount of money. These numbers are averages, so there are always people who spend more and those who spend less. If you’re worried you can’t afford a ring for a price as mentioned above, we do have a few tips for you:
Last but not least, Royal Coster has rings for every budget. If you have the budget in mind, our diamond consultants will help you find that perfect ring for that perfect woman. If you’re also looking for an original and romantic way to propose, check out our Engagement Workshop.
"Diamonds are a girl's best friend"; you don't have to tell me twice. Being an online marketeer at Royal Coster Diamonds with a passion for fashion, styling, writing and - of course - diamonds, I love to explore all kinds of diamond jewelry, tell you about diamond trends and how diamonds can complete your look.
Thx a lot, just the info i needed!
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