How Much Should Engagement Rings Cost?

An engagement ring is precious no matter the cost.

Two Months Salary

According to groomgrove.com, diamond giant De Beers popularized the concept that the cost of an engagement ring should equal your two-month salary. That means if you earn $36,000 a year, you are expected to spend around $6,000 on the engagement ring. An expensive engagement ring may be customary in some circles, and it can be considered an investment.

As Little as $125

Your fiancee might not care how much you actually spend on her ring, as you may need money for other things. Set a budget before searching for the perfect ring, and stick to that budget. A quarter carat diamond set in 14-karat gold can cost as little as $125 to $500.

Bottom Line

There are many factors to consider in purchasing an engagement ring, such as the 4 Cs--carat, cut, color and clarity--but the primary thing to consider is how much you can spend without breaking the bank. If you prepare well for your proposal and pop the question sincerely, chances are your girlfriend will appreciate you no matter how much the engagement ring costs.

References

• Groom Groove.com: Diamond Engagement Ring Calculator

Resources

• The Knot: Rules of Engagement Rings