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How Much Should A Wedding Ring Cost

Budgeting For Your Wedding Rings

How Much Should A Wedding Cost?

Before you decide on your wedding bands, you and your future spouse should have a talk about how much you both feel comfortable spending. How much couples spend by no means reflects the depth of their commitment. What really matters is that you are each able to wear rings that are meaningful to you and represent your eternal love for one another.

If youre looking to save money without sacrificing quality, consider buying yourwedding bands as a matching set, or purchase engagement rings and wedding rings online where savings can be better compared to a regular store.

Couples are increasingly turning toward custom wedding rings and non-traditional materials which are generally more affordable, not to mention unique, beautiful and finely-crafted. If you do decide to go the custom route, it’s best to start planning as early as possible and it is recommended that couples start looking at wedding rings 3 to 4 months before the wedding day.

At Rustic and Main, we take pride in making wedding rings that are not only bold, unique and meaningful, but also affordable. To help you find the perfect wedding ring that matches your unique style and fits within your budget, we’ve designed a quick ring style quiz. Check it out or message our live chat team with any questions you might have!

What Does A Design Consultation Involve Is It Free

An online consultation is a free, no-obligation service in which clients can speak directly with one of our expert designers. Your designer will call you at a time that is convenient and will use a web-conferencing tool like ZOOM. This will allow you to see the designers computer screen via the screen-share feature, follow the design process step by step and make comments in real-time. This method ensures that you are fully involved throughout the process and totally satisfied with the final product. All costs will be presented and discussed with total transparency, allowing you to adapt the design or choice of gemstone to suit your budget. To book a design consultation, get in touch with our designers here.

The Exciting Life Events Rule

At Diamondport were in the business of selling exquisite diamonds, and we love it. But we know theres plenty of other exciting things happening in your life maybe youre buying a house, planning an engagement proposal or party, paying for an incredible wedding, travelling then starting a family. These are all significant expenses, and each can bring you joy.So we reckon if you are debating about how much should you spend on an engagement ring, you should weigh up how much you value an engagement ring, versus all the other exciting things you are planning.

Read Also: Free Wedding Planning Spreadsheet

Fancy Shape Centre Stones

If youre keen to stick within a set price point, its worth noting that diamonds of the same carat weight, but of a different shape will be priced differently. Round diamonds carry a premium over other shapes like a cushion, oval or princess cut because they produce the most waste in their cutting process.

Choosing a fancy shape will often provide you with better value than choosing a much sought-after round diamond. Elongated diamond shapes like the marquise, oval and emerald cut can also appear larger in appearance, despite being the same carat weight.

The chart below shows the prices of a one carat diamond in various shapes.

For example, a one carat G colour VVS2 round diamond is currently retailing for around £5,800 compared to a 1ct pear shape with the same quality grade, for around £4,785. This demonstrates the level of potential savings if youre happy to choose a different shape to the traditional round.

Budget For Those Rings

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When it comes to answering how much money should you spend on a wedding ring, the answer will greatly differ. Theres no one set amount that every couple out there should spend. You must individually evaluate your finances and what youre looking for in a ring, then strategically plan accordingly.

We hope this guide has offered the insight you were looking for when it comes to determining how much should an engagement ring cost. Remember to keep a few months of your salary in mind as a guideline and plan your budget out according to whats comfortable and feasible for your given lifestyle.

Make that list of ring qualities you cant compromise on, but also keep in mind those few helpful tips on how to cut down on traditional wedding ring costs. No matter how much you spend on an engagement ring, your proposal and symbolic gesture is bound to be a memory and keepsake thatll last a lifetime.

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How Much Is Too Much To Spend

While there is truly no set price cap when it comes to buying an engagement ring, you may still be worried your partner will be tempted to go overboard. If you know the proposal’s coming, be direct and slip your opinion into a casual conversation. Make up a story, and try something like, “You know, Jen was just telling me the other day that she really wishes her husband had spent less on the engagement ring so they could have had a bigger wedding budget to play with. I think some people are going a little crazy these days. Honestly, I don’t think anyone should spend more than $, don’t you?”

You can also pass your concern on to your partner’s family and friends, who will relay the message. But, at the end of the day, some people really just want to go above and beyond and splurge on the engagement ring, which is totally fine as long as they have the means to do so.

Working With Martin Busch Jewelers

At Martin Busch Jewelers, were proud to offer custom engagement rings to those who want to create their own beautiful pieces. We have a team of experienced jewelry designers who can take your ideas and concepts and transform them into the perfect ring that represents your relationship in a truly meaningful way.

The process begins with a consultation with one of our designers. During your consultation, you can share your vision for the customized piece and decide on the style, metal, central stone, setting, and any accents. Well create the design, then create a wax mold of the ring so you can make any final changes before we cast it.

The skys the limit when it comes to creating your custom ring with us. We can also talk to you about the options available that fit into your budget and help you design an affordable engagement ring that will truly delight the wearer. For more than 60 years, weve been serving customers in New York City and much of the surrounding area, and we treat all of our customers like family. Custom jewelry design is one of our areas of expertise, so you can count on us to help create the ring youve always wanted.

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Wedding Band Vs Engagement Ring: Is The Engagement Ring More Expensive

For the bride, the engagement ring is typically a big-ticket item. Many have dreamed of what their ring might look like their entire lives. So is the engagement ring more expensive?

In general, engagement rings are bigger and flashier than their wedding ring counterpart. They typically feature a larger centre stone , and are characterized, for many, by their bling factor.

Thus, the engagement ring is generally the more expensive of the two rings. So, how much should you spend on an engagement ring, and whats the best way to budget for it?

Wedding Bands That Match The Engagement Ring

Engagement ring and Wedding ring – How much should an engagement ring cost

Because an engagement ring is usually picked out first, its important to find a wedding band that matches. For females, the cost of a wedding ring can be as high as $2,000 or more. Finding a wedding band that coordinates is time and money well-spent.

For example, if your engagement ring is white gold, your band should be white gold as well. Consider the thickness of your band and ensure it doesnt overpower your engagement ring. Choose a simple band without diamonds or include diamonds to add more brilliance. You can use tools like Blue Niles Wedding Ring Matcher to pair your engagement ring with the right wedding band.

Some people keep their engagement and wedding rings separate, while others solder the two together. The choice depends on your personal preference and how the rings fit together. Soldering them might prevent the rings from spinning and getting out of sync with one another.

You can also match his and hers wedding band. Check out our guide on how to do that in this link.

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How Much Should I Spend On A Wedding Ring

Theres a whole host of opinions and rules on how much to spend on an engagement ring, but little attention is paid to the cost of wedding rings post-proposal, and how much you should budget to spend on them. Weddings arent cheap, so planning ahead is important, and everlasting purchases such as your wedding bands is a good place to start when planning your big day. Here we look at the average cost of wedding rings, the factors that can make them less or more costly, and help you figure out how much to spend on your wedding rings.

Budget According To Your Income

Men that want to get engaged are often at the beginning of their career path. We think that the costs should be in a healthy ratio to your income and therefore recommend one monthly income as a rule of thumb for the budget.

And here’s a fact for all fans of American soaps: In Europe, there are only a few men who buy US-level rings worth 5,000 $ or more for a proposal. On average, European men stay around or even below 1,000 US-Dollar when it comes to the ring for their sweetheart.

Recommended Reading: Wedding Planning Spreadsheet Google Sheets

The Origin Of The Two

Why do we think we need to spend thousands of dollars on an engagement ring? Easy: Marketing.

International diamond titan De Beers controlled most of the diamond market in the early 20th century. Following the Depression, they promoted the idea that a diamond ring was an important investment. This helped to justify the price at a time many Americans were down on their luck.

In the 1930s, DeBeers suggested a diamond engagement ring should cost a monthâs salary. They upped the ante a few decades later. One ad from the 1980s featured a photo of a glamorous woman wearing a diamond ring, above the words: âYou canât look at Jane and tell me sheâs not worth two monthsâ salary.â

Donât fall for it! You canât put a dollar amount on your future spouse. Buy a ring that you and your fiance think is beautiful, and then start saving for the wedding.

Over To Ashley What Should We Spend On A Diamond Ring

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There are no hard and fast rules anymore, dictating how much you should invest in your engagement ring, says Ashley Portas, Diamondport founder.

Its very much a personal decision and theres no shame in prioritising other financial commitments such as home ownership or travel.

Im privileged to meet all sorts of wonderful people who are ready to get married. Some guys can invest in incredible jewellery, but Ive also been lucky enough to create beautiful diamond rings for people who werent sure what they could afford.

At the end of the day, we are so lucky to meet the one and ask for their hand in marriage. Whatever amount you decide to spend on an engagement ring its going to be the right amount. It might be one or two months salary, or what youve managed to save. Spend what you can afford, be kind and love her!

What would you spend on an engagement ring? Is the salary rule redundant?

Also Check: How To Address A Family On A Wedding Invitation

Where People Are Buying Rings

While consumers enjoy shopping online for clothes, food and home goods, our study shows that to-be-weds prefer a brick-and-mortar experience when it comes to wedding rings. Our study found that 67% of proposers bought their engagement ring in a store. Of those respondents, 40% said they opted for a local or independent retailer, while 26% reported going to a national or regional jewelry chain.

Twenty-eight percent of those who opted for a chain store shopped at Kay Jewelers. Zales was second-most popular, as 17% of respondents reported heading to the chain to get their engagement ring. Close behind in popularity was Jared, with 13% of the pool choosing to buy with the brand. Of those who purchased a ring from an online-only retailer, 22% chose Brilliant Earth, while 17% went to James Allen and 16% opted for for Blue Nile.

Do You Mind Having To Maintain It In The Future

Related to a metal’s durability, there are different procedures for maintaining certain metals in the future. Some metals, like platinum, you rarely have to think about after the initial purchase. The higher price corresponds to the fact that it’s durable and you won’t have to worry about it as much as you live your everyday life.

Other metals, like white gold, will need to be maintained after the initial purchase. White gold is a beautiful metal to choose for your wedding ring and often comes at a great price point. However, you will have to get your ring rhodium plated every so often in order to maintain the white color. After you start wearing the ring, you will eventually start to see some of the yellow gold peaking through the outer layer. This is when you will know it’s time to get it rhodium plated. And, going back to your lifestyle, if you work every day with your hands, the ring will most likely wear faster and you’ll have to maintain it more often.

There is a delicate balance between price and the convenience of buying a ring up front that might be the most durable metal. Think about your budget and your willingness to maintain the ring in the future.

Also Check: How To Address Family On Wedding Invitation

How To Save Money On An Engagement Ring

This section has some tips on how you can lower the cost of the ring even more:

  • Don’t shop during peak timesAvoid buying a ring between Thanksgiving and Valentine’s Day. Proposals are at an all-time high during this period, which means the engagement ring prices are too. Also plan ahead for the next step by knowing the best time to buy your wedding rings.
  • Know before you goYour knowledge of diamonds could play a major role in how much you spend at the jewelry store. So, before you go, research the 4Cs so you’ll have the knowledge you need to negotiate the best deal.
  • Go just under whole and half caratsWhole and half carat diamonds will jump significantly in price. You can save almost 20% just by buying a diamond a fraction of a carat smaller . And nobody will be able to tell the size difference.
  • Don’t get too caught up on qualityThe diamond color and clarity are not as important as you think. Don’t pay so much for features you can’t appreciate.
  • Instead, focus on getting an excellent cut. The excellent cut will make the diamond more brilliant and hide flaws and tints, so you can go cheaper on color and clarity.

    For more of these expert tips, see our full article on how to get a diamond for best value.

    You could also consider a birthstone for a thoughtful, personalized ring that won’t break the bank:

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