How Much Does An Engagement Ring Cost?

How much should an engagement ring cost? There is an engagement ring cost rule of thumb that says every man should spend two month’s salary on the ring before proposing. For some men this is a lot of money. Consider that if you make fifty thousand dollars a year your engagement ring cost should be over $8000. This is as much as the down payment on an $80,000 home. If you have extra money just laying around this may seem reasonable. However, if you would like to save money and start your marriage on a strong financial foundation you may want to lower your standards. In reality you should discuss the cost of engagement ring options with your future spouse before you make a purchase. Come to an agreement as to how much should be spent on the ring. Your bride to be may want a ring that is very costly or she may have other ideas about what you could spend the money on.

Buying An Engagement Ring

When buying an engagement ring there are four main things to consider – carat, color, clarity, and cut. Each of these aspects will have an impact on the price of the ring. Carat is the size of the diamond or diamonds in the engagement ring set. Clarity is how clear the diamond is or if it is cloudy. Finally, cut is the shape of the ring such as a princess cut or the traditional diamond cut. Carat is the size of the diamond or the total weight of all the diamonds in the ring. Some jewelers display the total carat weight of the set while others display the carat size of each diamond. Carat and clarity always affect the engagement ring cost of a ring the same. Everyone wants a ring that is clear and shiny as well as big. However, the cost of the cut can change depending on current trends. Whatever is in style will cost the most.

Affordable Engagement Rings

While it may appear as though buying an engagement ring is expensive there are options available if you want to save money on your purchase. For example, many jewelers now offer their collections online. You can expect engagement ring cost to be much less when a store has lower overhead. In some cases you might even buy your diamond online and have a local jeweler set the ring in gold, silver, or platinum.

Where To Buy Engagement Rings

There are literally thousands of places to buy engagement rings today. You can purchase rings from jewelry stores, department stores, or even used jewelry dealers. Consider that unless you know how to view a ring and tell its worth you want to shop with a reputable dealer. If you don’t know whether a diamond is high quality or not the jeweler would have no problem selling you a big, bad quality ring, at a high price.

As you can see there is a lot to learn about the cost of engagement ring options today. You may think you need a degree in diamonds just to determine whether you are getting the best deal. However, there are many name brand jewelers who offer a quality guarantee. At higher engagement ring price points you can receive a certificate that grades the diamond and guarantees that you are getting what you paid for. Remember to consider the cut, clarity, carat and color of the ring you want to buy. If you are not sure whether you are getting a good deal you might want to send the ring for a private appraisal through a local jeweler. Sometimes you can trust a private appraisal more because the jeweler isn’t trying to sell you anything. The appraiser can tell you whether the engagement ring cost is reasonable or not.