Budgeting for an Engagement Ring: A No-Pressure Guide

Buying an engagement ring is a HUGE milestone, but one of the biggest things couples still struggle with is just how much they should be spending. There's no magic formula, and despite what old-school traditions say, there is no "right" number when it comes to setting your budget. 

If you're feeling overwhelmed, don't worry! You're not alone. We are breaking down the myths, factors to consider, and practical tips to help you and your partner set an engagement ring budget that works for YOU. 

Forget the "Two to Three Months' Salary" Rule

You may have heard the old rule that suggests spending two to three months' worth of your salary on an engagement ring. But let's be real—that advice is outdated and fails to reflect the personal financial situations or priorities of modern couples. 

Maybe you’re saving up to buy a house or putting money away for your dream wedding so you plan to spend less.

Maybe you or your partner wants a big-as$ ring and you’re both willing to cut back in other areas to get it.

The important thing here is that there's no one-size-fits-all approach to how much you should spend. It's about finding a balance between what you are comfortable with and what makes your partner happy. 

Key Factors to Consider When Setting Your Budget

Once you've let go of everything your grandparents suggest, here are some things to consider when determining your best engagement ring budget:

1. The Center Stone is the Star of the Show 

When setting your budget, keep in mind that the majority of it should be allocated to the center stone. Of course, the setting style and band matter too, but that diamond or gemstone is typically what takes up the bulk of the cost. 

2. Maximizing Size & Sparkle

If you're looking to get the biggest-looking diamond your budget allows, certain shapes will appear larger per carat weight than others. The options we recommend include:

• Oval, pear, and marquise diamonds — These shapes maximize size and appear larger than round or princess cuts of the same carat weight. 
• Three-stone settings — Adding side stones can create the illusion that the center stone is bigger and create even more sparkle. 

3. Size vs. Quality: What Matters More?

There is always a trade-off between carat weight or size and the overall quality of the stone. Some people prioritize diamond size, while others care more about clarity, color, and cut. It can be helpful to know what is important to your partner. 

For example:

• If your partner loves big, bold rings, you might opt for a larger diamond with a lower color grade. 
• If they are all about perfection, you may want to prioritize clarity and cut, even if it means choosing a smaller stone.

Final Thoughts: You Do YOU!

The perfect engagement ring budget is the one that works for you. Whether you're looking for maximum sparkle, timeless elegance, or something entirely unique, the key is to prioritize what matters most to you and your partner. 

Your engagement ring should feel special — not stressful. So take your time! Set a budget that makes sense, and choose a ring that symbolizes your love, your story, and your future together.