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How much should you spend on an engagement ring ?

Posted in: Feature

Should I spend one, two or three months’ wages on an engagement ring?

We’ve all heard the old wives’ tale of ‘you must spend three months’ wages on an engagement ring and for most of us, that's a scary thought! Our response to this question may seem like the boring and obvious answer, but it is true.. the amount you spend is entirely up to YOU. The dollar value of the engagement ring you propose with doesn't determine your love, so you should never feel pressured into spending more than you feel comfortable.

Don’t let anyone else tell you what you should spend

Don’t listen to the mother in-law, the favourite aunty or even the girlfriend’s best friends' advice. How much you are wanting to spend on an engagement ring is a very personal decision and should always be up to you! 

Don't let Retailers pressure you into spending more 

Often consumers feel trapped when in the high pressure environment of a retail store and end up spending more than they initially intended to. If you are feeling uncomfortable, leave the situation and research your options and pricing thoroughly before making a decision. Online websites give consumers the opportunity to explore the best market prices in the comfort of their own home, without the pressure of a sales person in front of them and allows breathing room to choose an engagement ring that not only fits your specifications and style, but budget too.

Consider other big life events when making a decision

If you are looking to get engaged, you may be at the stage in life where you are wanting to buy a house or already have a mortgage. You also have to think about the savings you might need for your wedding and honeymoon. Considering these big life events when buying an engagement ring will make sure you have your head above water during these times. 

What are some buyer’s tips when it comes to buying an engagement ring?

A common tip we give our customers is to buy diamonds slightly under the standard weight (ie. 0.50ct and 1.00ct). For example, in most cases, buying a 0.90ct instead of a 1.00ct diamond will save you hundreds (if not in some cases thousands) of dollars for an equal diamond of the same quality. There isn’t a big difference in size and this allows you to put more money into the design, wedding band or just make a saving! Buying online will save you a significant amount of money, as overheads are low allowing online retailers to pass the savings on to their customers. Our diamond and jewellery experts work with you to create the engagement ring of your dreams, within a budget you can afford, with honest and educational advice.  

Our top ten engagement rings