How Much Should You Spend On An Engagement Ring?
Have you found the woman of your dreams and are thinking of asking her to marry you? Are you curious to know how much you should spend on the engagement ring to show her how much she means to you? Is the princess cut engagement ring the best choice or is there another style that she may like? Well we have the answers that you are looking for, backed by surveys of thousands of brides and grooms.
What’s The Average?
In February, 2016, Wedding Wire published its annual Newlywed Report which polled nearly 150,000 brides, grooms, wedding guests, and wedding professionals. Their findings included a number of topics, one of which was the average spend on an engagement ring. The average spent on an engagement ring for 2015 was $4,758.
Another study conducted in the U.S. by The Knot, another popular wedding website had an even higher average. Of the 12,000 brides and 1,200 grooms they surveyed, they found that men, on average are spending $5,978 on diamond engagement rings. That figure is over $850 more than their results back in 2011 of $5,095.
When calculating how much you should spend on a ring, there are a few standards out there. One of those standards takes into consideration the annual salary of the groom-to-be and calculates you should spend around 2 months salary on the diamond ring your sweetheart will be wearing for decades to come. Princess cut diamond engagement rings are the most popular cut of diamond for engagement rings, but cushion cuts diamond rings are gaining popularity as well.
Whatever the amount you determine, the best plan is to get the biggest bang for your buck by buying a wholesale engagement ring from a diamond wholesaler. This allows you to get a bigger diamond than you would normally get by going into your local jeweler. Your bride-to-be will be over the moon when she sees how much money you saved while getting her a ring she can show off to all of her friends.