How Much Does The Average Engagement Ring Cost

engagement ring cost
Let’s talk about the cost of the average engagement ring.

Are you ready to buy your significant other an engagement ring? This is a big step in any relationship, and it shows your partner that you plan to take your commitment to the highest level.

If you’re at that stage in your relationship, you absolutely must get the perfect diamond engagement ring. Otherwise you may end up unintentionally disappointing your better half and that is not going to be

the way you want to start the beginning of your life together.

Now, everybody understands that money is obviously a huge factor when it comes to buying an engagement ring online. So we’ll discuss the average diamond ring cost and more to help you get a better idea of how much you should spend when buying a ring.

 

The Average Cost of an Engagement Ring

As you are about to learn, diamond stone are definitely very expensive. There’s no denying this fact.

As far as buying an engagement ring goes, some people are going to have the ability to buy a more expensive ring than others. But there is a typical rule of thumb that everyone can follow when deciding how much to spend on the perfect engagement ring for her zodiac sign.

But before we get into that, just know that in 2016, the average cost of engagement rings reached an all-time high that year. As a matter of fact, on average people spent a total of $6163 on engagement rings for their future life partners.

To help put that in better perspective, in 2011, the average cost of an engagement ring was only $5095. So as you can see, in just five short years, the average price went up over $1000, which is about a 20% increase.

What If You Can’t Afford to Pay over $6000 for an Engagement Ring?

Well, if you’ve been dating somebody long enough that you are ready to pop the big question to them, they obviously know your financial situation.

So if you have to spend less on your engagement ring, it’s not going to come as a big shock to them. And they shouldn’t really expect you to spend a small fortune on their ring when they know you don’t make that much money.

So, here is what you should do if you’re looking to buy an engagement ring but you don’t have enough money to pay the average price.

Think about using the one month salary rule. Or if you can afford to go higher, try the two or three month salary rule.

With this rule, you are either going to spend the amount that you take home over the period of one month, two months, or three months.

So let’s say your typical weekly take-home pay after taxes is $600. If money is real tight, you should add up your weekly take-home for the entire month – $2400 – and spend that amount on the engagement ring.

Or you can add it up for two months or three months if you can afford it.

Conclusion

If you’re ready to buy an engagement ring, please make it easy on yourself and follow the guidelines that we have shared with you today.  If you want the best place to buy one, read this review to see why we fully endorse this company.