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HOW MUCH SHOULD YOU SPEND?
When preparing to pop the big question, choosing the perfect engagement ring often raises numerous questions—one of the most common being, "How much should I spend?"
Your budget is one of the most important details to share with your jeweler, as it helps them guide you toward options that align with your financial plans while still reflecting the significance of this milestone. Monti Jewelers specializes in helping customers find stunning rings that meet both their emotional and financial expectations.
There are many myths surrounding how much one "should" spend on an engagement ring. To make a well-informed decision, consider the key factors that truly matter—and ignore outdated rules or unrealistic societal pressures. Here’s what to keep in mind as you determine the budget for this unforgettable moment.
AVERAGE ENGAGEMENT RING COST
One of the first steps in selecting an engagement ring is understanding the average cost. According to a 2019 survey by The Knot, the national average for an engagement ring was $5,900.
It’s important to note that the diamond typically accounts for the majority of the ring’s cost. If that price point feels overwhelming, there are many ways to reduce costs while still achieving the style and look you envision. For example, certain settings can make a diamond appear larger than its actual carat size, allowing you to maximize visual impact without exceeding your budget.
Additionally, remember that a natural diamond is not only a symbol of your commitment but also an investment. Diamonds are rare and often considered inflation-proof, meaning they tend to retain or even appreciate in value over time. At Monti Jewelers, we can help you find the perfect balance of beauty, quality, and cost to create a ring that’s as meaningful as your love story.
SHOULD YOU REALLY SPEND 3 MONTHS SALARY?
You may have heard of the old “three months’ salary” rule as a guideline for buying an engagement ring. According to this, someone earning $60,000 annually should spend $15,000 on a ring. While this might have been popularized in the past, it’s completely out of touch with modern realities!
Other outdated rules, like spending one month’s salary or matching the carat size to the buyer’s age, are equally impractical. For instance, the "age rule" suggests that a 30-year-old should purchase a 3.0-carat ring. Needless to say, this approach often ignores personal finances, preferences, and the true meaning behind the ring.
Instead of following arbitrary rules, focus on what feels right for your relationship, your budget, and your partner’s style. At Monti Jewelers, we’re here to help you find the perfect ring without unnecessary pressure—just expert advice and personalized service.
WHAT IS THE RIGHT AMOUNT?
When it comes to buying an engagement ring, it’s not about following outdated rules like spending three months' salary or letting age determine carat size. The right amount to spend is a personal decision, but here are some key factors to consider:
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Your Financial Situation:
Marriage is a lifelong journey, and you’ll face many shared expenses along the way—whether it’s buying a home, planning for children, or saving for the future. While an engagement ring is a meaningful symbol of love and commitment, it doesn’t define your relationship. Discuss your budget with your jeweler to find a ring that’s perfect without compromising your financial goals. -
The Ring’s Meaningfulness:
The emotional value of the ring plays a significant role in how much you might choose to spend. If you and your partner place high importance on the ring as a representation of your relationship, you may decide to allocate a larger portion of your budget to it. Ultimately, it’s about what feels right for both of you. -
Your Fiancée’s Expectations:
Understanding your partner’s preferences is key to finding the right ring. Some may dream of a bold, eye-catching diamond, while others prefer a simple, elegant design they can wear every day. Open communication about these expectations will help ensure your jeweler can create something that aligns with your vision and budget.
At Monti Jewelers, we’re here to guide you through every step, ensuring you find a ring that perfectly balances your love, style, and budget.
SHOULD YOU SHOP ONLINE?
Browsing online for engagement rings is a great way to explore options and get a sense of preferred styles, metals, and settings. It’s a helpful first step for narrowing down choices and learning more about what you and your significant other may like.
However, purchasing an engagement ring is a significant emotional and financial investment. The online marketplace is largely unregulated, with a mix of reputable and less trustworthy vendors selling diamonds. Without expertise in evaluating diamonds, it’s easy to make a costly mistake. Each diamond is unique, and online reviews cannot account for the specific qualities of an individual stone. Even an overall store rating won’t guarantee you’re getting good value until the diamond is independently appraised.
Another key drawback of shopping online is the lack of personalized guidance. At Monti Jewelers, our experienced team helps you navigate this important decision with confidence. Share your fiancée’s dream ring ideas and your budget with us, and we’ll work closely with you to design or select a piece that perfectly balances beauty, quality, and affordability—bringing that dream to life.