How much to spend on engagement ring depending on your preferences

How much are you supposed to spend on a wedding ring? At first glance, buying an engagement ring or a wedding ring may seem easy. You simply have to find a jewelry store and don’t forget to bring your wallet, right? Or you may also order a ring online. But in fact, as you see a lot of rings of different shapes, sizes, and prices, you may feel at a loss and realize that you need to do some research to get a better understanding of how much to spend on engagement ring and how much to spend on wedding band. In this article, we will highlight some aspects you should consider when choosing the best ring for your partner and for your budget.

Average Cost of Engagement Ring

There are so many myths and misconceptions about how much to spend on engagement ring as well as wedding bands cost so it’s really hard to decide when you are shopping for your significant other. So first, let’s discuss the average cost of engagement ring because it’s always good to have a basis for comparison. According to statistics, the amount of money spent on an engagement ring varies across the US and the prices are continuing to rise from year to year because many people consider diamonds to be a serious investment. Currently, the average cost of an engagement ring is $5,680. This is a significant amount of money for most people.

How Much to Spend on Engagement Ring: Myths You Are Welcome to Ignore

There are popular ring budget theories:

  • The one/two/three-month’s salary rule is the most popular approach. It says that you should spend one/two/three-month’s gross income on an engagement ring. But this rule is outdated and was invented by a diamond company just to make people pay more to diamond retailers. Besides, it’s highly unrealistic and too simple because it doesn’t take into account the couple’s expenses, debt, and their lifestyle choices. Don’t let others tell you how much you should spend. This decision is entirely up to you and your fiancée.
  • Average cost. We have already discussed the average cost for an engagement ring but in fact, most people spend far below or far above the average. Some couples can’t afford $3,000 and there are couples who would like to spend over $50,000. That’s why it’s a bad idea to limit your budget to a national average. Your budget should be tailored to your personal requirements.
  • Average diamond size. Some peopletry to calculate how much they should spend based on the size of the center diamond. According to estimates, the average diamond size in the US is 1.1 carats. But the price of diamonds depends on “Four C’s” (clarity, cut, color, carat weight) so you should care about all other details of the diamonds.

How much to spend on engagement ring is a very personal choice. You should find a number that you are comfortable with and which won’t cause you to go into debt. An engagement ring is not just a financial investment; it is a symbol of love and commitment to your future wife. You should have an honest conversation with your partner about expectations and finances. You should find out what type of engagement ring your partner is dreaming of. How much you decide to spend depends on your budget and on your girl’s expectations. Besides, you should take into account your girl’s individual style, overall lifestyle, and hobbies.

If you want to save on a ring, don’t get a diamond at all. In most cases, it would be better to give the person you love a meaningful ring that will speak to her individual personality.

  • Consider synthetic diamonds like cubic zirconia or moissanite that look almost identical to real diamonds but are significantly cheaper.
  • Think about other beautiful gemstones that have a traditional meaning as well: ruby, agate, turquoise, apatite, opal, blue topaz, and more.
  • There is no rule that says engagement rings have to have gemstones. You can choose one of the gem-free rings that are becoming more popular now as they feature different styles: a ring made of a mixture of different metals, a personalized band with an engraved message or a knotted metal band.
  • If you want to marry a girl with an Irish heritage, the Claddagh ring can be an appropriate choice.

How to Save for an Engagement Ring

Is buying a ring worth going into debt for? There are a number of factors that you should take into consideration when buying a ring: your current income and expenses, your debts and savings, and your future earning potential. These factors may help you determine your financial ability and estimate how much you could reasonably afford. A good idea is to shop around and look for discounts and bargain offers.

An engagement ring is a major purchase so a good idea is to save up for it. How to save for an engagement ring? You can set an automatic transfer to put a percentage of your salary into a saving account every month. You can also skip big purchase and use the money you would have spent on them towards the engagement ring.

You don’t have to spend a fortune on a ring because at Titanium Buzz, we offer unique engagement rings in a wide range of prices. They are made of alternative metals such as titanium, black zirconium, and cobalt chrome. You can choose rings with real diamonds or buy more affordable CZ stone options. Keep in mind that our customers can take advantage of flexible financing on purchases from Klarna and pay over time. Financing a ring allows you not to wait to save money before you propose to the girl of your dreams.

Wedding Band Cost

After the proposal, one of the most important questions on people’s minds is: “How much are wedding rings?” Compared to the engagement ring which is usually more of the priority for buyers, wedding bands are usually less expensive. Frequently, they are just plain metal bands without gemstones. So how much does a wedding band cost? It depends on your budget and style. The prices for wedding rings vary and depend on several factors such as the metal, the size of the band, and its thickness. Including diamonds and adding engraved designs can increase costs. The wedding band cost for men is significantly lower than for women. The options are limitless. If you are looking for a wedding band for men, at Titanium Buzz, there are hundreds of options to choose from so you can always find a perfect wedding band for any budget.

How Much Are You Supposed to Spend on a Wedding Ring?

When you are making a decision about what wedding ring you would like to get, you need to take into account your lifestyle because you will wear the ring on your finger every day for many years to come. Besides, you should make sure that it isn’t outside your budget.

Speaking about traditional precious metals, platinum is the most durable material and makes a good choice for people who often work out in a gym or work on projects at home. Gold is not as durable as platinum and golden rings may get scratches but this metal is also a very popular choice.

If you live an active lifestyle and need something more durable, comfortable, and affordable, there are different alternative metals with amazing qualities to choose from. At Titanium Buzz, you can find plenty of stylish wedding rings made of exotic materials. Looking for a ring that fits your unique personality and your sense of style? Browse our extensive collections of rings made of titanium, cobalt chrome, black zirconium, tungsten, carbon fiber, and Damascus steel and you are sure to find a perfect ring for you that will last for a lifetime.

  • Classic rings are timeless and will never go out of style.
  • Camo rings have authentic Realtree and Mossy Oak patterns and are a great choice for people who love outdoors.
  • Sport rings will allow you to show your passion for a variety of sports: hockey, baseball, football, golf, basketball.
  • Meteorite rings are made of relics from space and look stunning with unique Widmanstatten lines.

When buying your wedding ring, you don’t have to think how much you are supposed to spend on it but look for rings that you can afford and that match your personality and lifestyle. And you should shop for wedding rings with the same attention and care as you did for the engagement ring.

As you see, how much to spend on engagement ring and wedding band requires a bit of thought and planning. There is no one correct price point for buying your rings and there is no reason to go into debt. You should come up with the budget that works for you and your significant other to ensure that you both feel happy and comfortable with the decision.