How Much Should I spend On An Engagement Ring?
Some people spend a fortune, some go by tradition, when it comes to the expected price tags of engagement rings no one seems decided. So we're here to help you judge how much you should pay for your perfect ring.
We’ve interrogated our specialists and searched the internet, falling the whole way down the rabbit whole and reading 15+ blogs and articles about how much you should spend on an engagement ring, so that you don’t have to.
It's one of the first questions that pops up when you’re thinking or talking about getting engaged, and it’s pretty hard to search for inspiration or discuss your options with a jeweller if you’re unsure how much you’re wanting to spend.
So here’s what we found out ...
ACCORDING TO THE INTERNET
BEST KNOWN "RULES OF THUMB"
The traditional answer no.1: 3 months wages.
The traditional answer no.2: 1 months wage.
The contemporary answer: 2 months wages. Some people who don’t want to betray either traditional rule of thumb have decided to compromise both traditions and spend 2 months wages.
OTHER "RULES OF THUMB"
The age rule: This is where the carats or the ring match up to the age of the person you’re asking to marry you.- So, for example, 18 years old would be 1.8-carats and 32 would be 3.2-carats, and etc.
The relationship length rule: Pretty much the same as the age rule, but swap the age of your partner to the age of your relationship. So 1 year would be 1-carat, 2 and a half years would be 2.5-carats, 5 years would be 5-carats, and etc.
The car rule: Where you should spend the same amount on your engagement ring as you did on your first, your current, or your dream car. - Though your future fiancé may not be too happy with this logic.
The national average: With access to all the stats online these days, some more "budget focused" people research and follow the national average engagement ring price.
Polar ends trends: Some people aren’t willing to spend over £5,000 on an engagement ring. While others are saving a full years wage for theirs.
Temporary before picking together: Placement rings are gaining popularity. So the ring proposed with is then exchanged for one chosen together.
ACCORDING TO US
This is a huge step in your life, don’t let it be dictated by some random rules. There’s no set price - No one’s really agreed on how much you spend on an engagement ring and experts have suggested different amounts for decades. But what you should be focusing on is what works for you - Look at your finances and the price range of the style you’re wanting to go for and speak to an expert about the personalisation, or even bespoke, options you have. Because, at the end of the day, an engagement ring is a symbol of your love, not your bank balance.
And an engagement is the start of the next level of your life together, you don’t want to start it off by adding debts or bankrupting yourself … You’ll have a wedding to plan soon, too.
OUR EXPERT'S TIP
Our biggest tip is to add sentimental value to your ring with a personalisation or bespoke design. Your engagement ring is a symbol of your love that your partner can carry with them every day for the rest of their life. Knowing that you spent your time and energy putting your personalised trimmings, or even designing the entire ring to match their personality, will mean a whole lot more than a price tag that’s forgotten or outdated a few years from now.
And with our personalisation and bespoke options, our experts support you through every decision, so you have an enjoyable journey ending with a priceless ring you’ll both treasure forever.