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How Much Should I Spend on an Engagement Ring?


One of the questions that linger in most men’s mind is how much they should spend on the engagement ring. However, before visiting https://www.wedding.com to choose a professional wedding planner, it is crucial to plan on giving your love a heartfelt marriage proposal. You cannot propose without an engagement ring, and that’s why you must provide the purchase of this critical symbol some thought. If you are wondering how much you should spend on it, then the insights below will help you make the right choice.

Common Rules

One-month salary rule

Buy a ring that costs the equivalent of your salary for one month. This tip is credited to thewell-known diamond dealer, De Beers. It came about when the world was faced with an economiccrisis,and the emphasis was to save on cost. What this means is that people can get a simple engagement ring which suits their income class. Since then, the one-month salary rule has become a rule of thumb.

Three-monthssalary rule

Buy a ring that costs as much as you make in three months. This practice has been around for quite some time for those who want to buy the best engagement ring for their love. However, financial and wedding experts usually advise scaling down to two- or one-month salary if the person has no job security or is strangled by many debts. Many people go by this rule.

Split-the-difference rule

Split the difference is also known as the two-months rule. It is more of a rule used by people who want to play it safe. If you think that three months will ruin your financial plans while the one month is too low, then this rule can be of great help.

Understand your Partner’s Expectations

The expectations of your partner can guide you on how much to spend. Of course, every person would like to wear the most expensive engagement ring on earth. However, caring partners would have expectations equal to what you can afford without strain. Likewise, this calls for you to understand your partner when it comes to material things expectations.

You will need to do all this while keeping in mind to make sure that this crucial piece of jewelry makes her happy without compromise. Otherwise, it may ruin things between engagement and the marriage date.

Follow your Heart

Despite all these rules and understandings, many people will simply follow their heart on how much to spend. Many believe that the heart holds all the answers to the questions people may have. However, it is crucial to be realistic and avoid plunging indebts to buy an expensive engagement ring. Self-made rules are mostly focused on spending more to please the partner, which while a good thing it can leave you in a financial wreck. Some advice from a professional financial planner can be great.

Conclusion

Together with the above insights, the use of an engagement ring calculator can help in determining the amount of money to use to buy your ring. It is set with crucial financial ability parameters to come up with an appropriate amount to spend on your ring.