HOW MUCH MONEY SHOULD SPEND ON AN ENGAGEMENT RING

HOW MUCH MONEY SHOULD SPEND ON AN ENGAGEMENT RING

Ready to start looking for an engagement ring? When you’re ready to take your commitment to the next level, you’ll want to make sure to get it right with a special ring and heartfelt proposal. After all, this is one moment you'll remember (and that you've both been excited about) for a long time. At first, glance, buying an engagement ring may not seem all that difficult. Simply find a jewelry store and remember to bring your wallet, right? But as you stare at the rows of rings in different shapes, sizes and prices (and don't forget about the 4Cs), you'll find that doing some research goes a long way when it comes to choosing and deciding how much to spend on an engagement ring. Here, we’ll take you through the average engagement ring cost in 2019, cut through the myths surrounding how much to spend on an engagement ring, and highlight the factors to consider when selecting the best ring for your partner and your budget.

We’ve compiled as many different engagement ring price suggestions as we could and laid them out for you so it’s all easy to navigate and understand before you jump into spend a hefty amount of money on an engagement ring, and both you and your significant other will thank us if and when it’s ever time to bite the platinum, gold, or silver engagement ring.

According to the recent report, couples spent an average of Rs. 30000 on an engagement ring in 2018. You always have the option of presenting your potential fiancé with this information and suggesting he or she spend the average amount. It’s a fair number, but you should keep in mind that it has nothing to do with his or her own personal financial standing.

The amount spent on an engagement ring should be 100% up to the person buying it. Of course, the input of the intended is always welcome, but if you aren’t the person actually making the purchase, at the end of the day, it’s not really up to you. “A lot of women wouldn’t want their fiancé to spend that much money on a ring,”. So we suggest you to “Make it a personal decision.” In consent with your partner to decide the amount, you wish to spend for buying an engagement ring.

In keeping with this advice, here are some important factors you’ll want to consider as you determine how much to spend on an Engagement Ring:

Financial Situation:  Whether you’ve saved for a down payment or plan to finance the entire cost of the ring, figure out what you’re comfortable with if you’ll have monthly payments going forward. Think about your current bills and your current income, and determine whether either will change (for better or worse!) in the foreseeable future.

Partner’s Expectations: By now you should have some idea of what type of engagement ring your significant other is dreaming of, but if you don’t, now’s the time to find out. Your main goal is to purchase a ring they'll love and feel proud of, regardless of the price tag. You could ask your partner outright for ring options, or go “window shopping” together to figure out what they really want. If you want your proposal to be a complete surprise, consider asking friends, or check around for hints they may be leaving you. Finally, consider their individual style, hobbies, and overall lifestyle, along with gifts you’ve given in the past they’ve loved.

The meaningfulness of Ring:  In most cases, a well thought out ring that speaks to your partner's individual personality will be much more meaningful than the biggest ring you can find—and that maxes out several credit cards. Got a family heirloom on your hands? Perhaps your partner would prefer the heirloom over a ring at any price since it’s so special to you. Or maybe she’d like to break with tradition and skip a diamond altogether.

With that said, the answer to the question depends on what your fiancé wants and your financial resources.