Determine Your Engagement Ring Budget

If you’re planning to get married soon and you’re about to pop the question, you might be wondering how much you should actually spend on an engagement ring.

At some point recently, you probably heard that you need to spend anywhere from 2 to 3 months worth of your salary to buy a diamond engagement ring.

There’s absolutely nothing wrong with this theory. If you work for three months and save all of your money to buy a diamond engagement ring with it, you’re probably going to be able to afford a beautiful ring.

Shopping for engagement Rings

Anyway, let’s take a look at this question from a few different viewpoints.

How Much Should I Really Spend on an Engagement Ring?

All in all, there’s really one question that you need to ask yourself to figure out how much you should actually spend on the ring. The question is simple:

How much can you afford to spend on an engagement ring?

If money is real tight at the moment and spending three months of your salary would make paying your other bills nearly impossible, then you obviously cannot spend that much to buy a diamond engagement ring.

Sure, you could always attempt to take out a loan or borrow the money from somebody that is willing to lend it to you, but it’s probably not a good idea if it’s going to really hurt you financially.

Honestly, you may decide to try and surprise your future spouse with an expensive engagement ring, and that’s certainly a good idea if you can pull it off. But on the other hand, it might be best to let them know ahead of time.

Discuss Engagement Ring Prices with Your Fiancé

At the end of the day, if you don’t plan to surprise your significant other by popping the question, you should sit down and talk to this person ahead of time.

If you are this close and plan to get married, then you obviously know one another’s finances at this point.

So have an open and honest conversation. Ask your intended fiancé what they think. They may already have a specific price in mind, or they may even have an affordable ring that they’ve already chosen if they felt like a marriage proposal was imminent.

So it never hurts to speak up. Being open and honest with your partner about money before getting married is definitely a good thing. It will set the tone for a financially successful marriage in the future.

It’s Nobody’s Business How Much You Spend on an Engagement Ring

Before we finish, the last thing I wanted to mention is that it’s nobody’s business how much you spent on the engagement ring. If somebody asks you the amount, tell them nothing, make up an amount, or be honest with them.

Just remember that if you do not feel comfortable sharing this amount with them of your precious ring, then keep it to yourself. They should never have asked the question in the first place.


There is no right or wrong answer, but you can use this information to your advantage as you shop for your engagement rings.  I sincerely hope that our site helped your experience an easier one.  There are many things to know before buying any expensive piece of jewelry, and we do our best to share all the information you need to make informed buying decisions.

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