Establishing A Budget

When you decide to propose, you’ll probably feel a mixture of excitement and worry. How will you pay for the ring? You want to buy something special for her to mark this occasion, but you also want to get the best value and the most beautiful stone for your money.

Establish a price range before you shop, and explore your financing options to fit engagement ring costs into your budget.

What Does an Average Engagement Ring Cost?

Some traditional wisdom dictates that an engagement ring should cost the equivalent of two months’ salary. However, engagement ring budgets should be dictated by what you can afford, and the other expenses and financial responsibilities in your life.

An “average” engagement ring cost wouldn’t be helpful, even if such a figure could be found. Stone prices vary significantly, for example, and stones with the same carat weight can vary by thousands of dollars based on cut, clarity and color.

Your budget should depend to some extent on what your fianc