how much do people tend to spend on engagement rings and wedding rings???

Answer 1

People TEND to spend way beyond what they should and go into debt over it. Here are some tips:

If you can't afford to pay for it in cash...don't buy it. Marriage is hard enough without adding on the debt from the rings. Forget the "two months salary" idea. That was a marketing ploy made up by the diamond sellers. There is no need to spend that much on an engagement ring.

Don't buy your ring from a mall jewelry store. They are marked up about 400% and the quality is generally substandard. Ask around. Find someone who has a friend or family in the jewelry business that will get you a good price. There really is a difference.
If you are up for the challenge, consider shopping at a pawn shop. You can often find rings with nice stones in them for cheap. Then you can have them reset in a new setting. Who cares where it comes from?

Don't buy the diamond based on "the 4 c's" None of that stuff matters unless you're going to sell it later on! What matter is if the girl likes how it looks when it's on her hand. Buy the ring that looks the best to the naked eye in regular light. The stores mostly have "diamond" lights in them designed to make even the yuckiest diamond look nice. Ask to see it in nautural day light. It won't sparkle quite as much but that's what it will look like most of the time so be sure that's what you want.

Go simple on the wedding bands. Couples tend to go overboard on the bands. Just get a plain band. If you want something nicer later on, it makes a great anniversary gift.

Skip the engraving on the wedding bands. It's very expensive and you can't see it anyway. Give each other a wedding present that's engraved instead (like a locket or a money clip)

Round diamonds set in a traditional setting sparkle more than any other cut. Stay away from square, rectangle or any other shape. You won't get the same sparkle.

White gold looks just like platinum but costs a WHOLE lot less. Spend wisely.

Don't charge your ring on a store credit card. The interest on that over time will make the cost of the ring almost three times the original price! Again, if you can't buy it outright, don't. Wait until you can afford it.

Answer 2

I think the average person really does spend 2 months salary. I mean it clearly depends on the person. Some women don't want a ring and instead would much rather save the money for a house. I understand this as well--but I still think you should make a significant financial investment in this ring.

I've seen many people on here say they only spend $1,000
which is great if she really likes that ring for only 1,000. But personally I'd hate to invest money on a ring she hates. My good friend married an engineer who makes a lot of money. She was rather shocked at her engagement ring. It doesn't suit her, it's horribly yellow, and nothing she likes at all. Well if he would have been willing to invest more--she'd wear that ring daily. As is, it was a total waste cause its just a paper weight. I know my husband makes a decent living and really wanted a ring that people wouldn't have to fake it with. "Oh how pretty" when they are really thinking "wow thats it."


SO yeah I'd say most guys probably spend around 2-3 months salary on it.

I'd say the average wedding band is around $200 each. You can probably find cheaper guys rings online or in a pawn shop, but on average thats probably close to accurate.

Edit**

Most women end up wishing after a few years they'd gotten a bigger stone and within 5-10 years, trade up for a bigger one anyway. So I guess it all depends on if you want to spend the money now or later.

Answer 3

We spent about $400 on the engagement ring, and $350 a piece for the wedding rings.

Answer 4

It kind of depends on what you think your fiance is expecting. If she has already agreed to marry you, you should be able to talk about it and set a limit on how much you want to spend. I can't tell you how many people have said later that they wished they had not spent so much on their rings, wedding, etc., and saved them for a really nice honeymoon or even more importantly a house.

Once you have an amount set, then shop together at several stores, especially the discount jewelers to see what is available in your price range. Believe it or not, sometimes you can get a really great deal at a pawnshop!

If this is one of those kneeling down with a box to propose things, you will have to make the decision on your own about how much you can afford, remembering that after the wedding your debt will be hers, too.

Answer 5

On here, people will tell you all kinds of answers...someone here claims the average spent is $400-$600, but when I searched online, I found stats showing the average to be in the high $2000's to low $3000's.

You should not go into debt for the rings-buy what you can afford. Also, the ring should look appropriate for her hand, as well as appropriate for your lifestyle...I have bigger hands, and my ring is 1 carat center, plus some smaller side stones-it looks great. Someone I know has a tiny hand and her ring is half the size of mine and looks wonderful! My fiance budgeted what he could comfortably afford for his finances, and I ended up with a great ring-I was happy because uts so beautiful and he's happpy because he doesn't feel he spent too much while still getting a good piece of jewelery. My ring was about $7500.

Answer 6

I just purchased a ring for my loved one and asked myself the same question when I started the process. I came to the conclusion that the "rule of thumb of two months salary" was complete rubbish. Sorry to say, but it just does not make any sense. When you consider that with the engagement comes the wedding, and other big projects (honeymoon, buying a house, kids, etc), you have to realize that your money is better elsewhere than in a big rock.

You should establish a budget that goes with your plans for the next few years. You don't want to be paying the ring for a year and stop all activities. A big rock is nice for showing off, but it also has to be practicle.

Best of luck to you...

Answer 7

One of my buddies spent 14 k on the engagement ring and about 5 k each for the wedding bands. I find that to be a lot, but his girlfriend is materialistic and enjoys showing off. You can find something just as nice for half the price. Go to whole sale jewelers.

Answer 8

My engagement ring is a family heirloom, so it was about $30 to have it resized for me. The wedding bands ran us about $80 for mine, and $100 for his. They're simple 18 carat yellow gold bands with a milled edge. This was in '99.

Answer 9

If they are smart? Whatever they can afford without going into debt-- whatever they choose to spend.

If they are not smart? Some artificially determined amount that they think "measures up" to others' ring purchases.

I mean, that's like asking "What do people usually spend on a house?"--- anything from $0 to $1,000,000, according to their desires and ability to pay, of course!

Answer 10

That two (now three) months salary crap was INVENTED in the 20th century by the DeBeers diamond monopoly that controls most of the world's diamonds as well as their prices by artificially limiting the markets and using ad campaigns to make greedy women think their unfortunate fiancés should spend more. Don't fall for that scam, and if you are with someone who believes it- BEWARE because a woman who truly loves her man will not insist on monetary proof of their "love." My husband makes nearly six figures and I insisted that $1000 was the absolute limit. My love cannot be purchased, and I'd rather have a home to live in than a gaudy, giant ring!