What Is The Right Budget For An Engagement Ring?

Right Budget For An Engagement Ring

If you are planning to pop the question in 2021, your thoughts will invariably turn to the ring, which is a symbol of your undying love. However, financial thoughts will never be far away. How much should you spend on a diamond engagement ring? Sadly, there is no short answer. There is no definite amount of money that can be placed upon the acquisition of a diamond engagement ring.

Striking a Balance

Right Budget For An Engagement Ring

source: moneycrashers.com

Obviously, you want high-quality diamonds to adorn the ring, which instantly takes you into 4 figures and you may not be aware that having a ring custom made is no more expensive than buying an off-the-shelf ring. If you are going to buy a quality diamond ring from a reputable jeweller, you are looking at a few thousand dollars, which would be considered to be at the lower end of the price scale. Keep in mind that, aside from choosing the best ring, it is also important that the ring acquisition doesn’t put you in financial difficulty. 

Old Wives Tale

Right Budget For An Engagement Ring

source: theknot.com

If you delve into history, it was regarded that a suitable dowry (ring) was three months’ worth of salary. Many couples are happy to use this as a benchmark when looking for a ring. This is not too much to invest in something that will appreciate in value over the years. With custom rose gold pink diamond engagement rings available from reputable jewellers, you can choose a stunning diamond ring that is within your price range.

Discuss it with your Partner

Right Budget For An Engagement Ring

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This is the sensible thing to do when looking at engagement rings. Obviously, in the future, you will be planning to buy your first home, which is a very expensive investment. Before all that, you also have the cost of the wedding, when it eventually arrives. Most couples pool their resources to achieve this. By talking about joint finances, a suitable figure can be agreed and you can begin your search for the perfect diamond engagement ring. To help you make the right choice, there are some further reading on the cost of a diamond engagement ring available on various references online.

Long Term Investment

Right Budget For An Engagement Ring

source: nuptials.ph

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If you do have some money tucked away for a rainy day, why not invest in a stunning diamond ring that will appreciate in value over the years. Fancy Argyle pink diamonds can be costly. However, the more you invest, the greater the appreciation. The value of your ring will increase over time.

Take your Time

Right Budget For An Engagement Ring

source: shopify.com

Choosing a diamond engagement ring or vintage rings is not something to rush into. There are many online jewellers who have stunning examples of diamond engagement rings and can even custom-make such a ring, should you prefer something truly unique. Start by looking at prestigious online jewellers and see what they have on offer. If you wish to have a private viewing of a specific ring, you can do this via their website.

The most important thing is that you do not overstretch yourself financially when investing in an engagement ring. By discussing things with your partner, you should be able to decide on a suitable budget and take it from there.

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