How Much Money Should I Spend On An Engagement Ring?

how much money to spendThat is the age old question that all men ask themselves as they make the decision to take the plunge into marriage. The answer to that is simple and complex at the same time. You should spend enough on the ring to make sure it is beautiful and a quality piece, but not enough to go into debt.

It doesn’t make sense to spend more than what you can afford. The average diamond engagement ring costs between $3,500 and $4,000 but can range from below or well above that amount. The standard that jewelers recommend is to spend 2 months salary but that practice isn’t usually followed anymore and is just a ploy that is used by the largest diamond producers.

When deciding on an engagement ring, it is quite hard to be practical about it. You want to get something that symbolizes your commitment but at the same time look priceless and beautiful. It should fit the woman’s style and good taste without looking ostentatious. You have probably been conditioned to think that the bigger the better, but most likely if the woman is a perfect as you think she is she just wants something that shows your love and adoration no matter what the size.

You shouldn’t buy a diamond engagement ring while thinking about investment. If all goes well the woman will be wearing this ring forever and will never be sold or used for money value. So, don’t buy a more expensive ring and think that it will appreciate over time. Buy something that you genuinely love, and that she will as well.

Prepare yourself for a high pressure sale from the jeweler you are dealing with. You need to know your budget before you even start looking, so that you know exactly what you can afford. Don’t be influenced by the salesperson to buy more than you can handle, or convince you to put it on a credit card. Only you can make the choice of how much and how you buy the ring. Don’t let them make you feel cheap or question your commitment to the marriage. The level of commitment is not decided by how much you spend on the ring.

Here are the more complex guidelines to how much you will actually spend on a ring:

* 10 to 14 carat gold are less expensive then 18k or platinum

* For a quarter or less you can expect to pay $125.00 to $500.00

* For stones up to ½ carat with platinum or 18k gold you can expect to pay $750.00 to $1000.00

* For stones up to ¾ carat with mid to high quality you can expect to pay $1000.00 to $2000.00

* For stones up to 1 carat with mid to high quality in 14k or 18k gold you can expect to pay $2000.00 to $3500.00

* For stones that are 1 carat with 18k or platinum settings you can expect to pay $3500.00 to $4000.00

For further reference, you can use this guide as an aid to help you gauge diamond engagement ring prices

This will differ depending on the quality of the diamond, often known as the cut and clarity, but here are the base prices on what you can expect. Remember it is better to get quality then quantity, so don’t skimp on the clarity in order to get a bigger ring. Use your budget to find the best ring, not just the biggest.

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