How Much Should Your Ring Really Cost?

There are many opinions and theories regarding the cost of an engagement ring. An engagement ring should be within a budget that is comfortable for you and your partner. Disregard the 3 months salary rule and choose a number that helps you to stay in line with your life and wedding planning goals. Think through the elements that are most important to you whether that is a higher quality diamond or a custom ring design and work from there to determine a budget.

Financial Situation

Determine what price you are comfortable with, especially if you will have ring payments going forward. Evaluation your current financial situation to determine what you can afford.

Partner’s Expectations.

Your goal is to purchase a ring your significant other will love regardless of the price tag. You could ask your partner outright for ring options, or go “window shopping” together to figure out what they really want. If you want your proposal to be a complete surprise, try asking friends or family for guidance. Consider their style, hobbies and overall lifestyle, along with gifts you have given in the past to help choose a ring.

Meaningfulness of the Ring

A thoughtful ring that speaks to your partner’s individual personality will be much more meaningful than the biggest you can find. Perhaps your partner would prefer an heirloom over a ring, or maybe they would like to break with tradition and skip a diamond altogether.