It would depend, too, on my spouse and his lifestyle and visions. Have an open and honest conversation about the engagement ring cost. Shortly after our tenth anniversary, I asked my husband what he spent on my diamond engagement ring. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. I do not believe in an engagement ring. Reading these comments from women confirms my belief. I dont need a jeweler to tell me he is a catch of a lifetime.. Realized I should have been more clear the $1500 would be equal to about 2 or 3 weeks pay and I think that that is sufficient. We publish data-driven analysis to help you save money & make savvy decisions. Yes, everything to do with a wedding usually has some deep rooted meaning. Or not. He spent several weeks carving a simple band out of wood to purpose with and is planning to get her a more traditional ring later when they can afford it without going into debt. The whole wedding came to a grand total of $350. Reasonable efforts are made to maintain accurate information. It still amazes me that in this era of gender equality, so many women are waiting for a proposal. Now that I have a decent income I would feel pressure to actually go out and blow some real money. The key issue would be how to know whether you can afford it or not, as cleaning out your savings to buy an engagement ring is not smart financially although it may make sense emotionally. I personally LOVE the small stud earrings he gave me a few years ago ($100). Finally, you decide Is $1000 Enough to Spend on an Engagement Ring? Now I dont want to wear something with an expiration date on it, personally. We had been together for 3 years we had talked about getting married and finally decided it was time, we went together and picked out our rings. we bought that ring. Good luck to you. Also because the cost of the ring I am got her is twice as much as she paid for her car. Everyone here needs to step off their soap box and get with the program. He was relieved that he didnt have to find (and pay for) a really expensive diamond ring and I LOVE it! Going into shopping, he knew he didnt want to spend more than $1500 and knew what kind of diamond he wanted to buy. When you are able to afford a larger diamond, you can upgrade the diamond in the ring for a larger one. I think I just wanted us to be unique, not like everybody else, spending thousands of dollars on rings and stuff. This budgeting method will greatly hamper the control on all the other details of the diamond. This is going to be the single most important piece of jewelry she owns. My wife is also very much against V-day. Shop for diamonds at James Allen, a CreditDonkey #1 recommended partner for the best online experience. If you shrink it down to about 1 pay check per month which is the math for what the author suggests about $3000 on 35k it appears to be a more accurate scale of affordability. I think who ever wrote this is a jerk and can ruin the traditional engagement. This pecking order nonsense is ridiculous. I have every intention of handing my diamond down through my family as an heirloom. My niece just got engaged. If its gone, its not the end of the world! And yes, maybe some people like to have a nice engagement ring. How about seeing if there is not a family heirloom ring you could have, perhaps Mom or Granny no longer wears their ring. Remember Princess Diana and Kate Middletons stunning sapphire engagement rings? I picked out out many months before buying it. Diamonds are expensive, and it's hard to know if you're getting a good deal. A lot of My ring cost Super-X$$$, but if you dont have the money, thats ok, because I still have a more expensive engagement ring than youetc comments flying around. Ive not read all the comments but I dont view jewellery as a waste, I view it as an investment and part of my family portfolio. You probably already guessed that Kim Kardashians 20 carat diamond ring is a bit out of your price range. Went to the same local jewelry store where hubbys folks got their rings from the current owners dad. The price of a 1-carat diamond can be anywhere from $4,000 to $19,000 depending on color, clarity, and cut. If you can't afford a ring right now, the best thing would be to wait. I also think of gems and precious metals as being heirlooms, something to pass on through the family, also something that changes with time. At our wedding, we just took them off, handed them to our wedding party, and put them right back on as wedding rings during the ceremony. Decorsnob.com also participates in affiliate programs with JamesAllen.com, Bluenile.com, ShareASale, Avantlink, Impact, and other sites. You help support CreditDonkey by using our links. All an engagement ring was ever supposed to be was a promisea clarificationof a mans intentions to marry a woman, and of her acceptance of him. That and not edible. CZs will NOT stand up to years of daily wear. Now that were a little older weve paid more attention to the diamond market and will be looking for man-made or conflict free diamonds when we replace the CZ. If you are making $60,000 a year, for example, then your engagement ring budget is $5,000 according to the 1 month system, $10,000 according to the 2 month system, and $15,000 according to the 3 month system. You can expect to save 30%-40% by buying engagement rings online compared to a brick and mortar store. You still need to choose one that fits within your budget. Something that you can pick out together. @Marvin: Buy what you can afford without going into deep debt. You don't want to overspend on something as important as an engagement ring, but you also don't want a ring that looks cheap. Its durable, beautiful, and special to us. If we lost it, it wouldnt be the end of the world. :-). Can you scratch that itch with something more sentimental and personalized that isn't a new expensive rock? This is a resource developed by Carl Jones. Got engaged 38 years ago. If you prefer a diamond look, moissanite is a great choice, harder than rubies and sapphires, with better fire than diamonds. I spent more on the engagement ring than we did on the wedding. Its the relationship that counts, not the rings. I braced myself, worried that hed blown far more than I could be comfortable with. Why insure your house? There are a few other things to consider before putting down money for a ring: If you want a wider selection of diamonds at lower prices we recommend comparing your findings from Blue Nile () to that of James Allen () for the best online offers. Most settings are much more expensive. I think its the same with girls. I also had a very meddling relative trying to change all my wedding plans. I even went so far as to propose to my wife that if she ever decided she wanted to get rid of the ring (perhaps to unleash the $3,000 burden off her hand and shoulders), she had my support. Personal finance is at least 50% values based decision making. He said I worry and take care of everyone else, that I run myself ragged for him and the children that this was one thing he could give me. The sentiment comes not from the metal and the gem, not necessarily the form it is in. News Blaze, Evan Carmichael, Smarter Ware, and the University Chronicle have all written articles about this calculator. There is no right or wrong answer. Now we have plain gold bands and we are just as happy. Here is the average spend on engagement rings per state: 2019 engagement ring sales data courtesy of Ritani. We may receive compensation if you apply or shop through links in our content. my wedding ring was on sale for 1500.00 and we bought it for our 19th anniversary. Most expensive traditions that have been adopted in this country have been born of or at least amplified by corporate interests Valentines Day, spending hundreds on Christmas gifts, having at least 2 cars per family, the diamond engagement ring, spending 3 months of salary on an engagement ring, every aspect of the traditional wedding, building a home, getting a 3-4 bedroom with a 3-car garage, the Disney World family vacation, taking out a mortgage on a home, getting multiple degrees and taking out student loans, even funerals! Interesting post. But that doesn't mean you need to pay for one that long. I dont like rings of any kind on my hands and have never worn any outside of very special occasions. We later got the rings soldered/fused because they had a tendency to spin on her hand. After all, you can always upgrade the stone at a later date. However, he knew that deep down I wanted a nice ring. And I did it because it was the thing you do. If they are not materialistic, is it just because of tradition? I have husband I had no doubts about, no regrets with, who makes me feel the worth of my life every second of the day. Im sorry but you asking awfully materialistic and immature. There is no way Im spending $21,000! I still love it even now. Id rather spend the money elsewhere. It is a beautiful antique, a small stone compared to what the other women in the office are wearing, but far more lovely for all the scrollwork and other carving on the setting. Once you have a number in mind, you can work to find exactly the kind of ring she would like that fits within that budget. So our phone conversation was as follow, Z, what do you want to do? i dont know, what do you want to do? This went on then finally he said, Lets get married. Now all of this was over the phone and I was so happy!!!! Brands like James Allen and Blue Nile are good places to start. Cons: This budgeting system is too simple for the modern era. For those of you who havent purchased an Expensive ring, Dont, you will get so much more reward if you go to a local food pantry and really see where America is at right now. You should consult your own professional advisors for such advice. No I do not consider it selfish to buy a large ring or have a large wedding as long as you do not have to go into debt. This is an important thing to remember about rings or any jewelry for that matter. It later didnt mean as much to her as she never wears them and I only wear them when I go out. Having something fully paid off that is of some monetary value, and not bothering to insure it is ridiculous. That was in 1995. Id also be happier to be married in a modest ceremony than single or engaged and wishing to be married. Engagement rings back to roman times were known to be a way of sacrificing and showing you would work hard to provide for her. If you have $200K in life savings, you could technically afford a $200K ring, right? The difference? To give you an idea of price, a 1-carat blue sapphire gemstone costs just over $300. While I totally get that spending a ton of money on an engagement ring is ridiculous (we actually spent half of what you did), for the majority of women, getting engaged and planning the wedding is just not about logic and practicality. Would you like to view these rings in person? It dropped in price by *half* which is when I bought it. Ive always wanted one. I Would be so pissed if I didnt get a surprise proposal. As for our wedding bands we got them at Montgomery wards for about 100.00 total. I have a 2.85 fancy yellow diamond, VS1 with trillions set on 18K white gold. Everyone lives together and combines finances; then plans a wedding and registers for expensive china, electronics, etc. For a perfectly colorless and flawless diamond in your price range, youll be able to buy a small 0.25 .044 carat diamond. (they were terribly delicate). Future husband did TONS of research and found me a moissanite and palladium ring. The owner was so tickled when we told him that, he gave us a discount. The one chance I had at an engagement ring, we broke up before he could propose. Five years later, and we upgraded it to a $6500 ring (she still have the original one in a jewelry box). Eventually we got replicas of the One Ring from LOTR, which we wear with pride and an ironic sense of DOOM. Now the wedding, spending upwards of $50K for a one night party. Take a look at this article too for tips on where to buy an engagement ring online: Where is the Best Place to Buy Engagement Rings Online in 2021? They came up with the idea to sell more expensive rings. So I agree with G.E. If shed leave you for getting a ring that only cost $1000, then the bitch is worth dumping. Its sad that a proper announcement of engagement is with photos of the ring on facebook and showing it off to family. We bought 2 sterling silver rings from Wal-Mart for $28 each. Explore their Inspiration Gallery to see current popular designs. That is it, I also showed him other options that were far far far less expensive. It looks fantastic and wasnt the result of unethical mining practices. Or at least you'll want to be able to pay off the debt you might incur in a couple of months. BUT your personal budget should depend on your financial situation and not an arbitrary salary rule. After all, youre committing to a marriage of everything, including finances. I agree with Barb, and thankfully so did my wife. I see diverse opinions about engagement rings from posters, some of whom talk about the rings they bought and/or received. Hold your hair if you are sick and throwing up? *single tear* SUCH ROMANCE!!!! For our wedding rings, I want opal. However, my family likes to throw big parties for each other, and my dad has been looking forward to hosting something like this for quite a while. To give you a better idea, see pictures of recently purchased diamond ringshere. So it can be worth the investment. Should You Borrow Money for the Engagement Ring? happen. If you cant afford to buy a ring, dont buy it. She associates how much her man cares about her by the size and quality of the stone he gives her. General Rule: You should spend at least 2 months salary on the engagement ring. I kept telling him he shouldnt have bought it, it was too much and he told me that it was something he wanted to do for me. Later, I was blessed with the opportunity to give her a very nice diamond that I inherited from my grandmother. It makes them feel special and makes them smile so why not save up enough money to buy the right and best ring!!! De Beers happens to be the same company that convinced the entire world that men need to propose with a diamond. It should be plain with no cuts not stones. Then you can be sure that you can afford one. Who said your engagement ring has to have a diamond? You can then choose the final design on your own and plan the surprise proposal. Different strokes I guess. We have Degrees too, but is not enough anymore, unless you are fortunate to be born into money! Be creative. After all, finances merge when you get married. If you dont like personal views, dont visit any website other than Wikipedia. Some credit cards come with 0% APR promotional periods if you're a new customer. There's no getting around it. It is the most important part always!!!!! Engagement rings are such a rip off. Put money aside each month until you can buy the ring in cash. In general, spend $2000 on the diamond, and $1000 on the ring setting. Weve evolved. My sister had Moms diamond reset in a plain band. We have been married for 20 years this year and the rings now seem so less important since we sold them to feed our family! I think its better to save money to live on, instead of spending a lot before you even start your life together. Young couples (women more so than men) tend to get swept up in the pageantry of The Proposal, The Ring, and The Weddingall the while losing sight of the fact that its The Marriage that matters. Plus you have the rest of your life to think about. Here are some things that might help you determine your financial ability: Using these factors, you should be able to estimate how much you could reasonably spend. Lets refer to the engagement proposal checklist. A ring,no matter the cost symbolizes this time period. It could be used as the goal, but only you know your personal situation. Schedule an appointment at our New York City showroom. Great article. and after my husband became unemployed the Gap Insurance had to pay all but $100.00 (after harassing us daily for 6 months). Why commit a hasty overgeneralization condemning a group of people by automatically assigning YOUR values to them? I guess my viewpoint is different than most of the other commenters. Just curious what did you spend on HIS ring to show that you meant business? Not much of an engagement story, usual proposed during a nice day spent together followed by an evening celebrating with family and friends. Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. With a $3000 budget, you can buy a modest engagement ring. Expense wise given what I know he makes a week I wouldnt expect him to spend more than $1500 on a ring and that would be on the expensive side. A popular option you may want to consider is to upgrade or trade-in an engagement ring. Please note: This calculator generates a projected budget based on our 30+ years of experience in the market. Saving up what you need could take a year or more. He had I did show him and he said it fit me, but I told him it was too much and gave him a few other options that I also liked greatly. We did just have something affordable for when we got married, but by five years it was beat up and nothing that would ever be a nice gift to hand down through the family. Fascinating info on the evolution of a tradition I was lucky, I had a family heirloom to give, and frankly, she was worth it. Did you know the two month's rule was started by a De Beers ad? I have read where women say they would slap their man for spending money like mine did but why would I try to take something away from him he was doing out of kindness. key: "https://fs22.formsite.com/res/showFormEmbed?EParam=m%2FOmK8apOTD5QArwPCohbXr8VhSoSNlZFzpUCZwnDno%3D&172769966", At some point, I decided to cancel the $30/year jewelry coverage we had added on to our home insurance policy to cover the ring, in the event it were lost or stolen. She paid less than $500 for both w/ lifetime guarantees for adjustments. When I asked her, she said she just wanted one wedding ring, no separate engagement ring, and nothing expensive. Ideally, you want to be able to buy the ring without financing so you don't incur debt. They will love and appreciate the fact that you spent the effort to find the perfect ring. I think that is nice, I didnt demand the ring I simply once said I loved it.
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