How Much Should I Spend on an Engagement Ring?
November 7, 2018
The million dollar question when it comes time to buy the woman of your dreams an engagement ring is “How much should I spend?” Diamonds come in all shapes, sizes and prices. The real question is, how much can you afford and will the ring you choose make your bride-to-be happy?
Figuring Out Your Budget
First off, let’s just say that an engagement ring is one of the biggest purchases you and your partner will ever make. For comparison’s sake, right now the average ring costs more than $6,000. There used to be a marketing campaign that advised to spend one, two or three month’s salary but that’s outdated. You should buy the best ring you can afford, without going into major debt.
Look At Financing
Financing is a great option to see how much you can afford. You can save for a down payment and then determine what you’re comfortable spending each month. This option usually means you’ll be able to afford more ring that you originally thought. Remember, this is a piece of jewelry your fiancée has been dreaming about since she was a little girl, you want to choose a ring that she’ll love to wear.
Shape And Size Matters
You can adjust what you want to spend by looking at different cuts, colors and clarity in relation to carats, or the 4Cs of diamonds. (Check out our blog for more about the 4Cs.) If size is important, look for a ring with a slightly larger surface area. It won’t sparkle as much, but it will look larger because the stone isn’t set as deep. If you want the sparkle, look at buying just shy of the next carat size. Greenberg’s Solitaire Collection features several sizes of brilliant Love Story diamonds.
Talk To Your Partner
These days it is more common than not to have the bride-to-be go shopping for the ring with you (the engagement is more about the “ask”). Knowing your partner’s expectations can help you narrow down your budget even more. For example, if she has her heart set on a 1.00 carat princess cut solitaire, she’s probably not going to be entirely happy about a smaller size or different style. You want to buy her a ring that she’ll feel proud to wear.
Get It All At Greenberg’s
At Greenberg’s Jewelers, you can get the cut, color and clarity you want, at a price you can afford. Greenberg’s has an awesome solitaire special you can take advantage of the entire month of November (right before the holidays, hint, hint). Choose a stellar, one-carat solitaire and pay just $69 a month for 60 months. Visit one of our locations for details and let us help you pick out the perfect engagement ring.