Think about Proposing this New Year?! – What to spend on an Engagement Ring
Are you thinking about proposing this New Year? The very first thing you should do is calculate how much you can spend on the actual engagement ring. Knowing what you can afford will help eliminate a lot of time in order to narrow down your selection.
The common rule of thumb to spend a 3-month salary is no longer accurate according to the knot. The Knot 2019 Jewelry and Engagement Study, further discusses how the average couples getting engaged in 2019 to spend an average of $5,00 on a ring which has even increased since the study took place.
Are 3 months of wages too much?
Modesty is all about being honest with yourself. Nowadays three months of your salary seems so trivial compared to the past, in fact, it may even seem outdated as many want to proclaim their love through the size of Carat.
Some are even pressured to fulfill an expectation of the ring rather than what is feasible to you and your bride’s budget. The last thing you want to do is start off on the wrong foot and in debt to show your love. True this is a ring that will be in your family for years, but the beauty of what you two represents starts in the beginning.
Do your Research
Before buying the engagement ring make sure you do your research and find a jeweler, you can trust. Buying an engagement ring is something many only do once in their lifetime, so no one is expecting you to be an expert. Understanding the 4 C’s compared to your budget is crucial to understand your purchase.
Check out the top engagement and jewelry stats from the Knot below:
- Average engagement ring spends: $5,900
- Most Popular Ring Type: Halo
- Average carat size for center stone: 1 to 2 carats
- The average cost of a men’s wedding band: $510
- Most popular engagement ring setting metal: Rose Gold
This should give most couples the data needed to make a proper decision on buying an engagement ring to proposing marriage.
We will be waiting for you at Master Jewelers Indian to put your knowledge to practical use.