The search for the perfect diamond ring often starts with the budget. Especially when it comes to engagement rings, many people ask themselves the question:
How much "do I have to" or should I spend on an engagement ring?
In the USA, a little more is generally spent on engagement rings than in Europe. The rule of thumb there is often: the engagement ring should cost two to three full months' salary.
Under no circumstances allow yourself to be influenced by such guidelines: The budget for a diamond ring is an individual decision.
When setting your personal budget, the most important thing is to weigh up the options:
Which ring do you have in mind? - VS. - How much can/do you want to spend?
If you have no idea what kind of ring you can find for what budget, here is our Guide: How much does a diamond ring cost?
The decision for an engagement ring is not only an emotional one, but also a rational one. These guidelines will help you to determine your personal budget:
Your expectations
Financial
With a little background knowledge it is possible to find a larger diamond for the same price - or the diamond ring of your dreams for a lower price.
Read here how to make the most out of your diamond ring budget
More helpful links:
What happens if you spend less on the engagement ring that your partner had wished for? First of all, it is very hard for laypeople to assess the value of a diamond ring. The worth of a diamond depends on various criteria. Many people assume that only diamond’s size or carat-size (which actually measures the weight, but is often mistaken for the diameter) is seen as the most important factors. But actually, also a diamonds clarity, color and cut define its quality and hence the value. A small diamond can be a lot more worth than a bigger one! Therefore, it’s necessary to find a trade-off between all of a diamond’s characteristics – and to explain them to the fair lady, if necessary...
