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How Much to Spend on an Engagement Ring

Written by: Samantha Silverman | | Jewelry

How Much to Spend on an Engagement Ring

If a proposal is on the horizon, you will soon find yourself dropped into the world of diamond shopping and wondering exactly where to start. Before you start browsing online or popping in to your local jeweler, come up with a budget that fits you, your lifestyle, and your new future as a married couple.

But how much is the right amount to spend? Many people have heard of the two-month rule for buying an engagement ring (for example: if you make $2,000/month, you should spend $4,000 on a ring). This is an outdated rule. Instead focus on two things: your girlfriend’s expectations and your financial situation. The goal is to find a balance between the two and then you will have your ring budget.

Meeting Expectations

The ring you eventually choose is a symbol of your love and commitment. It shows how much you are invested in your future together. In addition, your girlfriend most likely has an idea of what she would like and it’s important to try to meet her expectations as much as possible when planning your budget.

  • Many women know what they want in terms of style and diamond shape. Do your best to learn her style before you set off in search for the perfect ring.
  • Keep in mind this will be her single most important piece of jewelry so it should be something that makes her happy every time she glances at her finger.

Regardless of your final choice, she will love your effort and wants to build a future with you. You might find that having an open and honest conversation about expectations and finances is a step in the right direction as you begin your life together.

Your Individual Situation

There is no right or wrong answer when deciding what to spend, but you may want to consider these factors to help you along the way:

  1. Your current income
  2. Your expenses
  3. Your savings
  4. Your debt
  5. Your potential income

After factoring in all of these numbers, make sure you pick a price point that doesn’t put you in serious debt and is something you can pay off within a few months.

Finding Your Price Range

In the United States, the average cost of a ring is $5,500 while the average center stone size is 1 carat. However, depending on where you live, many couples spend between $1000 and $5000.

The best way to purchase is obviously without any financing, but if that isn’t possible be sure it can be easily paid off in just a few payments. The most important rule when buying isn’t a two-month salary rule, but instead remember to stick to your own situation and not get caught up comparing yourself to others.

The best choice, regardless of budget, will be the fact that you were thoughtful in your ring selection. No matter the carat weight or cost, she will love the effort you put into making your choice. Take time to pick the most beautiful, personalized ring that fits your lifestyle and this will pay off more than anything else.


  1. How much to really spend on an engagement ring. (Accessed May 7 2020).
  2. How much to spend on an engagement ring. (Accessed May 7 2020).

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Lavalier is pleased to share this material with its customers. Please note, however, that nothing in this blog should be construed as legal advice or the provision of professional consulting services. This material is for general informational purposes only, and while reasonable care has been utilized in compiling this information, no warranty or representation is made as to accuracy or completeness.