How Much Money Should You Spend On 5 Stone Rings on Your Engagement?
Wednesday, July 28th, 2010A typical dilemma that many men will face at some point in life is deciding how much to spend on engagement five diamond rings. This dilemma will eventually affect the couple as a whole, but the initial question lies most of the time with the groom. It is important to remember that the bill for the shared prong five stone ring will follow you well after the bliss of the honeymoon, so make sure that it is a price that you are both comfortable with.
In years past, men were told that they should save at least two months salary to spend on five stone engagement rings. These days, two months salary can be rather difficult to save, and there is no reason to start a marriage in debt. You must consider your priorities and budgets first to make an educated decision on how much you can afford to spend on such an important and lasting purchase.
With that being said, just how much is reasonable to spend on an engagement ring? On average, an engagement ring will cost somewhere between $3,000 to $4,000. Of course that figure can be higher or lower depending on the cut of the diamond, size of the diamond, and the quality of band that you choose. The cost of a diamond can run anywhere from $125 up to $500 for a quarter carat or less. If you desire a larger cut, you will need to increase your budget to $500 to $1,000 for a.3 to.5 carat stone.
Even before you step into the jewelry store, figure out your budget to the exact penny. You do not want to have a vague idea of what you can spend, but rather, you should know the exact amount of money that you are willing to spend. Take a friend with you to help make sure that you do not go over your budget. Talk with others about where they go their engagement ring, the costs, and if they are happy with their purchase.