Engagement rings have been part of pre-wedding tradition for quite a while now, and it certainly needs factoring in when considering one’s overall wedding budget. In years past, there was a pretty simple scale for how to determine your engagement ring price range. The unofficial rule was, rather simply, that the cost of the engagement ring would equal two months’ worth of paychecks.
Now tradition has become a bit more flexible, which for those who appreciate an easy to remember rule like that may leave you floundering for what to look for. Well, while we may not have a magical solution to offer, here are a few facts and factors to consider: First, you can always play it safe by conforming to the national average. According to The Knot’s annual wedding survey, the average cost of an engagement ring is about five and a half thousand dollars. Twelve percent of couples will top that by spending more than $8,000 on their bling.
If you’re on a tight budget, you can always trick your diamond into thinking it’s bigger than it is; a shallow stone with a larger surface area may not sparkle as well, but it will appear much larger overall than its actual size. Another good option is to look at products a hair below the next karat (for example, 1.8 instead of 2 karats), which can save as much as 20% on costs without diminishing the clarity of the gem.
Of course, your best option would be to discuss and decide on your alternatives together as a couple. It used to be commonplace for the groom to surprise his lady with a ring he picked himself, but the rules have changed quite a bit since then. In a recent study, it seems that that decision making technique accounts for only 5% of the current population. More prevalent now, comprising an overwhelming 69% of couples, is to decide on rings together.
Here’s our last major tip: If you’re still concerned about your engagement ring… don’t be! Although the ring carries large significance in matrimonial tradition, it is by no means the only bit of jewelry seen during the wedding. Studies show that over 80% of brides will receive additional jewelry for their big day, most commonly earrings, but also pendants, wristwatches, tiaras, and other hair accessories. For grooms, a lower percentage, but still considerable at 30%, will wear additional jewelry: along with the wedding band often come cuff links, watches, bracelets, money clips, and even necklaces. So don’t stress yourself out over the smaller details, and let yourself enjoy the celebration!