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How Much Should I Spend On A Wedding Ring

So What Makes Some Wedding Rings More Expensive Than Others

How Much Should You Spend on a Wedding Ring?

As with any fine jewellery, prices can vary pretty vasty between wedding rings, based largely on their style and size. The bigger the ring, in terms of both the circumference and thickness of the band, the more precious metal needed, and therefore the more expensive the ring. The second determining factor of a wedding rings price will be any added features, including engravings or contours, which require more of a goldsmiths time to craft and therefore cost more than simple bands.

Most prominently, the addition of diamonds will impact the overall cost of the ring: bigger diamonds and more of them will equate to a larger price tag – for obvious reasons!

No matter the size or style, youll find that the big-name brands and jewellery houses will charge almost double the amount of an independent jeweller. Turn to jewellers like Queensmith, who artisanally create their rings in-house whilst avoiding brand-premiums and larger overhead costs. Weddings are costly, so it is important to find a jeweller who will craft your rings to the highest standards, whilst ensuring unrivalled value for money.

Look At The Cost Factors In An Engagement Ring

How much an engagement ring costs is largely dependent on the four Cs – that’s carat, cut, colour, and clarity. You can save money on an engagement ring by only prioritising one or two of the Cs, say getting a clear, super sparkly diamond in a smaller size, or a larger stone that doesn’t have as much clarity. A lot of brides will already know what cut they have in mind, so that tends to be a good place to start.

The metal choice may also play some part in the price of your ring, white, yellow and rose gold tends not to vary too much, but platinum or palladium rings will be a bit pricier.

Who Buys The Wedding Rings

There is no right answer to who buys the weddings rings the choice is down to each individual couple. Traditionally, the groom buys the brides engagement ring and wedding ring. Compared to their engagement counterparts, society does not have such strict rules when it comes to who choose and wears a wedding band.

The groom wearing a wedding ring is a relatively recent tradition. It wasnt until the 20th Century that it became usual for men to wear wedding bands. In fact, some famously married men, such as Prince William, choose not to wear a ring at all. This means that the bride tends to be responsible for her husbands ring.

Of course, you and your spouse to be might decide to split the cost, or if your parents are paying for the wedding, they may even choose to pay for the rings. Who buys the wedding bands is completely up to you and your loved one. Ready to start looking for the perfect wedding ring for your future spouse? Get in touch for more help or come and visit us at our Jewellery Quarter Store. Alternatively, browse our full selection of wedding rings online now.

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Most Bang For Your Buck In Mens Wedding Band

Tungsten carbide rings are a great option if you are looking for something attractive and sturdy that wont break the bank. If the $500-$1000 budget sounded like too much for you, take a look at some of the benefits of a tungsten ring.

Tungsten rings:

  • Are difficult to scratch or ding
  • Resist corrosion
  • Come in many different styles
  • Are very affordable

On average, a tungsten ring can be as low as $135, with some available for even less.

They are a great choice for an affordable ring because the lower price does not necessarily mean lower quality. Tungsten carbide is an extremely dense metal that cannot easily be scratched or dinged even by a hammer .

Tungsten does not tarnish or rust, and bands come in many different styles and colors.

Tungsten carbide rings often include a zirconium coating to add color and can be found with polished and brushed finishes, different inlay details, and even zirconium insets

Find What Works For You

How Much Should You REALLY Spend on Engagement Ring in 2018

The truth is, there is no set amount of money you need to spend to prove your love. Keep in mind that spending less money on an engagement ring allows couples to devote more money towards the ceremony, honeymoon, and a down payment on a house!

Be smart about what you choose to do based on your financial situation. It is best to go for something meaningful to you and your partner rather than expensive. For more tips and helpful information, check out our other blogs. If you are ready to start planning your wedding, contact Knowles Hospitality today.

Also Check: A Line Beaded Wedding Dress

How Much Should A Wedding Ring Cost

Wedding ring prices range from $180 to $2,000 and higher. The cost of wedding rings depends on the precious metal, the setting design, the number of diamonds and where you buy the ring. For example, this classic 14K white gold ring from James Allen is $240 while this micro pave diamond ring also from James Allen costs $1,080.

The One Two Or Three Months Of Salary Rule

The most popular wedding or engagement ring myth is the X number of months salary rule. It has become common to calculate the best cost for a ring based on one, two, or even three months worth of salary!

Nowadays, this could lead to quite an expensive ring. If you intend to follow this tradition and are in the market for a lab-grown diamond, you will get an impressive diamond.

For example, say you make $5,000 per month. According to the months salary rule, the best price of a ring for your sweetheart is $5,000 by the one-month standard, $10,000 by the two-month standard, and so on.

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Why 2 Months’ Salary Rule No Longer Works

Did you know the two month’s rule was started by a De Beers ad? De Beers happens to be the same company that convinced the entire world that men need to propose with a diamond.

If you obey DeBeers’ rule, that means that if you make $3,000 per month, you should spend roughly $6,000 on the ring.

However, that rule has some serious flaws. After all, it was invented to get you to pay more money to a diamond retailer.

how much to spend on an engagement ring based on your salary

First of all, most people get married in their late 20s, when they are still in the beginning of their careers. They haven’t come close to reaching their full earnings potential. Plus, you have to calculate what you actually take home in net pay as opposed to your gross salary. Unfortunately they are quite different.

Secondly, most people graduate with student debt. Combined with the increasing cost of living, spending thousands of dollars on a ring may not be feasible. Especially when you’re trying to get out of debt as quickly as possible.

If you want to stretch your budget further, check prices online first. Online retailers offer good quality, usually for much cheaper than a local jeweler.

Here are some of the most popular online sellers:

Online Jeweler

Other rules

Understand His Or Her Expectations

How Much Should I Spend on an Engagement Ring?

An engagement ring addresses your adoration and responsibility and your interest later on. The ring you give your destined to be fiance does in reality matter. Numerous women have imagined their proposal and wedding band since they were a child. Picking a ring that lives up to their desires is significant guaranteeing your special moment is nothing less than marvelous. On the off chance that you feel great, have a transparent discussion together about funds and ring assumptions. It is generally useful to be in the same spot, and see how you each vibe about burning through cash on jewellery. With regards to ring assumptions, think about the accompanying:

  • The shape of the diamond they want
  • The colour of gems setting
  • The sort of setting that coordinates their style
  • On the off chance that there are family heirlooms, rings or precious stones to consolidate
  • How they will flaunt the ring to family, friends and social media
  • How frequently they will wear the ring: each day

On the off chance that you do not have a clue about the details concerning the style of the ring or the diamond they want, try to have a relative or dear friend find it for you. If all else fails, take a gander at a few alternatives and tune in to your instinct.

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Use The Setting To Amp Up A Smaller Stone

If you’re looking for a statement ring but can’t afford a large diamond, clusters or halo rings make a perfect alternative, amplifying a smaller stone and giving it a lot more sparkle .

Likewise pavé bands, , while an added expense, can offset a reduction in sparkle from a smaller centre stone.

Rings by De Beers

What If I Have A Uniquely Shaped Engagement Ring

Most wedding rings are a simple round design, but if you or your partner has a specially shaped engagement ring, you would need to look at specially shaped wedding rings, such as a wishbone design. However, it is often the case that most people with uniquely shaped engagement rings will need to have their wedding ring designed completely from the ground up in order for the wedding ring to sit flush with the engagement ring. These ones take a bit more time and cost more. It’s probably worth having a conversation with your partner whether you would like to go to do a bespoke design to fit the engagement ring exactly. Some people may exchange their engagement ring and buy bridal sets so that the matching up is taken care of already, and others go fully into the bespoke end and spend more time, it’s really up to you.

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Average Size Of Diamond In An Engagement Ring

1.10 carat diamond engagement ring

There are those who want to calculate their budget based on the size of the center diamond.

Weve done a lot of research on this question and all of the statistics seem to have flaws, biases or a lot of guess work. Based on the research weve seen, we estimate that the average diamond size in the USA is 1.10 carats.

The average in the Commonwealth countries seems to be approximately 0.70 carats.

Pros: Its a lot easier to control the budget while remaining within the couples budget bracket.

For example, a 1.10 carat, round, D color, flawless diamond will cost approximately $19,000 and a 1.10, round J color, SI2 clarity diamond will cost approximately $4,200. They are both 1.10 carats, but the price varies dramatically.

Cons: This system will leave a lot of people dissatisfied with their diamond. Consumers also care about clarity, cut and color. This budgeting method will greatly hamper the control on all the other details of the diamond.

Get More Bang For Your Buck

How Much Should I Spend on a Wedding Ring?

My husband and I bought my ring from a family run jewelry shop that has been in business for 30 years. Both the daughter and mother are CGA approved gemologists. My own mom and dad have been going to this particular jeweler for years.

Buying my ring at a family run jeweler meant the jeweler was able to offer us a ring without a big retailer markup. We cut out the middle man and my ring was appraised at double the value my husband actually bought it for.

Tip: Add a halo to a diamond solitaire to add weight to the ring. It also makes the ring appear larger

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Sunken Artifact Glowstone Ring

Made with a tungsten-carbide base, our Sunken Artifact Glowstone Ring is an affordable band inlaid with copper pieces and crystals of strontium aluminate, making it possible to shine a bright aqua blue when charged by a UV light. Its comfort fit makes wearing a ring easy and hassle-free, and its durability and scratch resistance gives you the perfect opportunity to flex your marital bond in the everyday.

Made with a tungsten-carbide base, our Sunken Artifact Glowstone Ring is an affordable band inlaid with copper pieces and crystals of strontium aluminate, making it possible to shine a bright aqua blue when charged by a UV light. Its comfort fit makes wearing a ring easy and hassle-free, and its durability and scratch resistance gives you the perfect opportunity to flex your marital bond in the everyday.

How Much Does An Average Engagement Ring Cost

The average price of an engagement ring in the U.S. was $5,225 in 2021.

Engagement rings are a major investment. According to a recent survey by Ringspro, an engagement ring guidance website, couples spent an average of $5,225 in the U.S. in 2021. Prices can vary significantly, with the cheapest going from $10 to the most expensive clocking in at more than $30,000. One thing they all have in common though? They cost money.

According to Alastair Smith, founder of Ringspro, there are three key considerations that go into buying an engagement ring: your financial situation, your attitude toward spending, and the expectations of your recipient. For some people, a significantly sized diamond will be a symbol of just how big their love is, while for others, a simple token of commitment is all they need, said Smith.

If youre shopping for a diamond engagement ring, the 4Cscolor, cut, clarity, and caratcan have a significant impact on the price tag. Depending on which retailers you shop from, you may end up spending more too, as some, like Kay Jewelers, have a reputation for charging more, says Smith. Other factors, like the engagement rings setting or the type of metal the band is made from, dont just have aesthetic value. These elements can also determine how much you’ll need to shell out once you hit check out.

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How Much To Spend On An Engagement Ring: First Things First

Hi, my name is Ramit Sethi. Im the author of a New York Times best-selling book on personal finance. Dont worry, Im not going to make you feel bad about wanting to buy an engagement ring . I dont have any secret backroom deals with diamond dealers. I just want to show you what nobody else is talking about when it comes to buying an engagement ring.

I spent a huge amount of time learning about the diamond industry and ended up buying a ring that my girlfriend Cass now wife loved.

Heres what I knew going into the process: Id met a woman I loved and I knew that an engagement ring was important to her. She never mentioned size or cost, but I knew she wanted a nice ring that was ethically sourced.

This is my personal experience finding the perfect ring for her with some additional insights from you guys, my readers.

So here we go

NOTE:

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