So if you are wondering how much you should spend on an engagement ring and what to look for when shopping for one, then read on.
Average engagement ring cost
Every year, the wedding website The Knot has a study that shows How expensive weddings are. When The Knot 2019 Jewelery and Engagement Study was released earlier this year surveying 8,992 respondents across the country, it was found that the average cost of an engagement ring is $ 5,900.
If this disappoints you, it may help to know that one-third of Americans are spending $ 1,000 to $ 3,000 on their engagement ring, and 10% spend less than $ 1,000. Therefore prices can increase dramatically.
Briana Parks, an allopment photographer based in Redding, California, explains that you can upgrade your ring later.
“I know that there are some couples who decide to upgrade their rings later due to finances. In fact, I personally think it compares to going into debt or not leaving money on a ring near you. Is smarter. It causes the stress of marriage. Gates say, “Engagement begins on a sour note,” says Park.
What to look for when you buy an engagement ring
Metal. “Does your significant other like yellow gold, white gold or platinum?” Asks Emily Underhill, a professional shopping guide and personal stylist based in New York City. She says she has spent years working on cruise ships, and jewelry is one of the main items she has helped people buy.
Underhill says that if you don’t want to ask your significant other what kind of ring he wants or not, pay attention to what kind of jewelry your partner wears. Can give a clue as to which type of band to buy.
“When it comes to gold, the higher the carat, the purer, pricier and softer the gold will be. It’s a good idea to learn the basics of common jewelry metals before making a purchase,” she says.
The amount you want to spend is up to you. But a study by The Knot found that the average cost of a women’s wedding band is $ 1,100, while the average cost of a man’s wedding band is $ 510. White gold is the most popular wedding material for women; Tungsten is popular with men.
Think of the center stone. “The center stone is the most important part of the engagement ring, because it is the focal point,” says Underthill, adding that you should get a strong stone that has stood the test of time, such as diamonds, sapphires, emeralds or rubies .
She says, “You will want to avoid soft stones like opal and sapphire because they scratch easily.”
Security. We are not talking about the need for a security guard to see your engagement ring, but in security, as you want to make sure the center stone is nowhere in sight.
Underhill says, “Small bands are in style, but they are best with small stones. As a rule of thumb, the larger the stone, the thicker it should be.”
Written rule: how much to spend on an engagement ring
You’ve probably heard a lot of “rules” about how much an engagement ring should cost. For example, there are several unwritten rules, including:
Rule of three months. Sometimes you will listen for two months, but usually, you will hear that you should spend the equivalent of three months’ salary on an engagement ring.
Age rule Someone once had the idea that the man or woman making the offer should buy a diamond ring that is equal in size to the woman’s age. So if your bride is 31 years old, you will buy her a 3.1 carat diamond engagement ring.
The more you love the person, the bigger the stone rule. No explanation needed.
Maybe these are great rules if you follow Beyond rich And want to help keep the economy lukewarm. For the rest of us, not so much.
Olivia Ewing Shoemaker, who owns Olivia Jewing Jewelery in Pittstown, New Jersey, says, “I think the idea of spending a three-month salary is too old. It’s unstable for most couples these days, and many The couple are making financial decisions together. ” .
In other words, put a check on your expenses so that you can live in a house and not a poor house.
“It is more important for a lot of couples to spend a small amount on a ring that is a meaningful symbol for their relationship and jointly save the difference for travel, a house, etc., like many Millennial couples are opting for smaller weddings“I see a trend in buying small rings,” Shoemaker says.
How to save when looking for an engagement ring
The biggest mistake you can make when looking for an engagement ring is to go shopping from the shop you visit. Sure, you may find something great, but you probably won’t save money and may miss out on finding a better ring.
So you want to take the following steps.
1. Comparison Shop. The more research you do, the better decision-making will help you. In addition to checking local retailers, look online.
You may have heard of the four C’s with diamond rings – color, cut, clarity and carat – and the better C, the better diamond (and more expensive). That said, Shoemaker suggests that you can’t always go by c. Gray or salt and pepper diamonds are popular, she says, but they do not conform to traditional C, and when it comes to alternative stones, such as ruby or emerald, “beauty is more important than grading.”
But if you want a diamond ring, the grading scale goes from flawless (FL) diamonds, which are extremely rare, to include (I3) diamonds, which have the most flaws and are a less expensive option.
2. Consider the source of the stone. “Sustainability and morality are very important today for a lot of young couples, and the origin of the stone is definitely something to see,” Shoemaker says. “Beyond the morally citrus diamonds, a lot of couples are opting for diamonds grown in American laboratory, mining for stones such as moissanite or even, alternatively, Montana Sapphire or Oregon Sunstone.”
Moissanite is a gemstone that has become popular in recent years – and is a less expensive alternative to diamond engagement rings.
3. Talk to your relatives. If one of your parents or grandparents has a diamond ring they are hanging as a family heirloom and will not mind if it turns into an engagement ring.
4. Talk to your significant other. If you shop for a ring together, the process of buying an entire engagement ring may be better, said Keith Willard, a wedding planner in Oakland Park, Florida.
But I want to surprise my sweetheart with a proposal, and it requires having an engagement ring, you can argue.
Willard has a counter argument. “For many of my couples, the groom will get a simple ring when he asks questions and then Go ring shopping with your fiancé, “he says.” This means that he will get exactly what he wants. The whole idea of buying the groom blindly for the engagement ring may at least give the right response. “
5. Set a budget. “I know it doesn’t sound romantic, but knowing that you can afford it will go a long way in finding just the right ring,” Willard says. He also suggests talking to a professional (if you purposefully leave your credit and debit card at home, if you fear being sucked into buying something).
“Setting up a meeting with a jeweler will help educate everyone involved and lead to a better choice,” Willard advised anyone buying an engagement ring. “I say the same when it comes to Wedding preparations. You don’t know what you don’t know – meet an expert and see the pros and cons without the stress of buying now. “