How Much Money Should You Spend on a Wedding Ring?

Are you thinking to have a perfect engagement ring for her? If yes! Then here we have written the comprehensive guide to give you the answer to the most challenging question. Furthermore, there are several other struggles for the same problem.

However, the good news is that we have sold 1000s of the engagement rings with the same criteria. Hence, here we have this groundbreaking calculator that will let you guide about the money to spend on the engagement ring.

Engagement ring budget calculator

This calculator has got great fame around the internet. Furthermore, this budget calculator generates the project budget into the market with 30+ years of experience. In addition to this, the total budget is not the definite amount of the store but only a ballpark figure. Hence, engagement ring calculator is best to get an idea to decide the marginally helpful, that will help you to determine how much you must spend. Such a calculator includes information about your lifestyle, income, and the debt to asset ratio.

Spending on an engagement ring

There are some few payment systems that most people use to determine the traditional amount that couples need to spend on the engagement ring. Moreover, such an approach has made it public with the help of different bloggers and websites that are talking about the engagement ring. Also, our calculator has the positive parts of the famous budgeting schemes and is rejecting the archaic elements. Furthermore, we have added lots of factors to make the calculator more personal and accurate.

General rule

You can spend the two months’ salary on the engagement rings. For example, if you are making $60,000 per year, you can easily spend $10,000 on the engagement rings. We hope you eliminate the out-dated and current budgeting system instead of creating a tailor-fitted scheme of the budget that better fits each of their lifestyles and couple.

In addition to this, our calculator reinvents the answer to the famous budgeting questions. After using this scheme, there will not be any confusion related to the engagement ring.

Out-dated and current budget theories

Here are the famous budgeting theories

  • Average cost
  • Average Moissanite size
  • 1, 2 or 3 months’ salary

Two months of salary

The 1 or 3 salary system also follows the same trends. Hence, it is the most notable trend to calculate the spending on the engagement ring. We are discouraging this two months’ salary system because here it works.

If you are making $60,000 a year, then your engagement ring budget must be $5000 according to the one-month system, and according to the two months system, it is $10,000 and $15,000 according to the 3 months system.

Pros

Super simple to calculate, people of approximate all the ages using this system, and it has become now the tradition.

Cons

It is too simple for the current era. Moreover, the couple’s debt and expenses cannot figure into the budgeting plan, and neither does it describe their lifestyle choices.

The average cost of the engagement ring

Based on the recent surveys, the average spend on the engagement ring was $5,800. However, this price has gone up, and it becomes $6800. In this regard, your financial means must define your budget plan, rather than the world wide average. Hence, no one must go into the debt to pay their engagement ring.

Pros

It is also super simple. Hence, you will feel that you have paid the average and fair amount.

Cons

It can be below or above the average. Moreover, some couples cannot afford even $4,000, and also some couples want to spend around $100,000’s. Hence, limiting the budget can be a bad idea.

Hence for better understanding, one must pick the four c’s and how they are varying the price. In this way, you can choose the budget, which is firmly according to your requirements.

Famous engagement rings types

You must get an idea about what types of engagement rings the couples are preferring these days. According to a new study, 85% of the new buyers are buying the latest designs, and the remaining 45% are opting the custom designs.

Moissanite Engagement Rings is the crystal that bears the historical significance, and now it is getting the latest trend of the contrary option of the diamond. Recently, it has been one or two carats on every person’s fingers. According to the recent data, about 50 per cent is the round cut, and one-fourth is the halo.

However, engagement rings are not only about the stones. Furthermore, the choice of metal depends on the couples, too, as white gold is one of the most overwhelming metals among all the ring shoppers and 54% of the material respondents. Moreover, Rose gold is also one of the most famous trending metals.  Be sure to check out luxurydiamonds.ca for great diamonds.

Conclusion

All in all, deciding an unlimited budget to get the ideal engagement ring must be the prerequisite to buy the exquisite ring of your dream.