An Appropriate Budget for Buying an Engagement Ring
Engagement rings hold symbolic value and they last a lifetime, but every couple is different.
In the 1980s, De Beers started the “two months’ salary” campaign asking potential customers to connect the amount of money they were willing to spend to the worth of their relationship.
Engagement rings hold symbolic value and they last a lifetime, but every couple is different. It’s highly unrealistic these days, since it considers gross income rather than net, and doesn’t look at debt load (at an all-time high for young adults due to student loans). Despite what the jewelry stores may want you to spend, it’s never a good feeling to spend the first several years of your marriage paying off the engagement ring.
We don’t believe there should be any rules or guidelines on the budget you set. What is most important is that you are comfortable with how much you are spending. In keeping with this advice, here are some factors you’ll want to consider as you determine how much to spend on an engagement ring:
Whether you’ve saved for a down payment or plan to finance the entire cost of the ring, figure out what you’re comfortable with. If you’ll have monthly payments going forward. Think about your current bills and your current income, and determine whether either will change in the foreseeable future. Two months salary is a recommended guideline.
By now you should have some idea of what type of engagement ring your significant other is dreaming of, but if you don’t, now’s the time to find out! Your main goal is to purchase a ring that she’ll love and feel proud of, regardless of the price tag. You could ask your partner outright for ring options, or go “window shopping” together to figure out what she really wants. If you want your proposal to be a complete surprise, consider asking her friends, or check around for hints she may be leaving you.
Meaningfulness of Ring.
In most cases, a well thought out ring that speaks to her individual personality will be much more meaningful than the biggest ring you can find that maxes out several credit cards. Remember, a ring is a gesture of your sincerity and love. In our opinion, its purpose isn’t to put you in debt that you cant afford.
What’s in your jewelry box?
D. Atlas Estates
510 W. Lancaster Ave.
Haverford PA, 19041
If you like this Blog and want to learn more about the value of your diamond jewelry and engagement rings, feel free to contact us for a no cost, no obligation consultation.
D. Atlas Estates
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When looking for the best place to sell engagement ring in Philadelphia and New Jersey, Call D. Atlas Estates.
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