“How much should I spend on an engagement ring?” this question has been the biggest debate for years. Many people believe that a guy should spend around a few months of his income on a ring, while some say five per cent of the total wedding cost. Well, the answers are many. But no one has a particular idea on what is the truth.
So, today we will offer you a few options. Keep reading this blog to know where or how to buy an engagement ring? choose your option for spending amount and then proceed with buying the engagement rings online or through the store near you.
1- The Traditional Amount Option:
You must have heard about the few months’ salary right, especially three-months, to be precise? Well, you can use this method to decide your final spending amount.
But, that doesn’t mean you have to take this option as a gospel. In fact, this strategy was an ad campaign put forward by De Beers. In the 1930s they talked about investing one-month salary, followed by two-months in 1980s and now it has come to three-months.
Well, on average, a person in the UK earns £585 weekly, which converts to £2,535 monthly and £7,605 for three-months. Well, you can find tons of different designs below this amount. So, don’t worry about spending a three-month salary on the ring.
2- National Average Option:
National Wedding Survey did a survey on average engagement ring spending, and they found that people spend around £2,419 on an engagement ring. Well, now this is the far better option than the three-month salary.
But again when it comes to the “average amount” there is variations too. A poll conducted between 2000 people by an insurance company reported that the average spending on an engagement ring was around £1,483. Now we are sure you must have found this option far better.
So, the conclusion here is that there is no fixed benchmark, meaning it isn’t necessary for what other couples like may fancy you and your partner.
3- Compromise A Bit Option:
If you have made up your mind on what you want, but you are stressed about the price, then it is always better to compromise a bit on the ring.
First off, find the best place to buy an engagement ring and then work with the jewellery designer. All the four Cs that is the Colour, Carat, Clarity and Cut affects the final price.
So, Opt For:
- Lower-grade diamond
- Colourless F to G diamond
- And, avoid full carats and go 0.9 or 1.9 instead of 1 or 2 carats.
And, all these compromises are barely noticeable.
Well, the prices of commodities are rising slowly, so it is fair to say that the engagement ring styles 2021 will cost a bit extra too. If you think you might be proposing her sooner, you must start the savings. Because it is always better to be self-sufficient when it comes to buying an engagement ring or else, you may end up in debt.
And we are hopeful that this article was able to offer you an insight on what your spending option should be.