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How Much Should You Spend on An Engagement Ring?

How Much Should You Spend on An Engagement Ring?

Have you ever heard a rule regarding spending "three months' salary" to buy an engagement ring?


Yes, three months' salary would sure buy a beautiful diamond ring only if you can easily pay for it. But the fact is, spending three months' salary rule was made up by diamond companies just to get you to spend more money on rings.


You don’t need to spend three months’ salary on an engagement ring

Clearly, the three-month rule is no longer the norm. There are numerous tricks and methods to find a meaningful and beautiful engagement ring that won’t break the bank;

  • When you are going to buy an engagement ring, just pay what you can afford. Don't let other people explain to you how much to spend on an engagement ring. It is entirely up to you and your budget.
  • You can buy affordable gems alternative to expensive diamonds for meaningful engagement rings.
  • Don't abide by traditional rituals to buy an engagement ring and look at what you can afford.
  • When you are making a plan to buy a meaningful engagement ring, always first look at affordable engagement rings that are available with outstanding quality.


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. Always keep in mind, "Your engagement ring is for symbolizing your love and commitment, not for symbolizing your wealth."


Here’s Why You Should Consider Buying Affordable Rings

An expensive engagement ring is not everything, and spending too much money that you can't afford, results in financial stress. Before spending too much money on an expensive engagement ring, here’s why you should consider buying a more affordable ring:

  • Within a tight budget, you can purchase a small, affordable, and meaningful engagement ring and can save money for basic needs.
  • You can wear an engagement ring with every traditional style, size, and design for just under $100.
  • You can save money to invest in future plans.
  • Affordable rings do not mean bad quality. They are also durable and forged with good quality metal.
  • You can face minor loss if you lose it.


So, How Much Should You Spend on An Engagement Ring?

When determining how much to put toward your partner’s ring, it’s best to “simply ignore any salary metrics” and focus on what you can realistically spend

Avoid turning to short-term solutions, such as using a credit card or digging into your retirement savings, to cover ring costs. You should always think about what will be best for both you and your partner financially before taking on any high-interest debt.


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.

And if you can’t afford your partner’s “dream ring” right now, you shouldn’t be discouraged. if you are married long enough, there is a great chance that you will be upgrading their ring or buying a new one anyway at some point.


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