How much to spend on an Engagement Ring?

[DaintreeDream]

DP and I have decided that we would like to choose my engagement ring together. Something that we both like. The only thing is, he wants to spend ALOT of money on a ring and I want to spend under $1000-, 2 reasons.

#1 - I do not feel comfortable carrying something that costs over $1000 around on my finger.

#2 - I could think of better things to spend the money on, especially since I have soooo much jewellery and wear none of it except the same earrings everyday (I know that THIS ring will be special and I will not take it off but still.)

So my question is how much do you think should be spent on an engagement ring? and are there any jewellery shops that you recommend?

[Aimz]

Only spend what you are comfortable spending. Don't decide on the ring based on price - if you fall in love with a ring that is $800 then your DP shouldn't say no because it's not expensive. On the other hand, if you find a ring that is over $1000 that you really love and your DP is happy to pay for it then you should get it.

You don't get an engagement ring every day - it will be the most sentimental and special piece of jewellry that you own - so make the most of it! My DH used to manage a Michael Hill store and they are always fantastic and very helpful. They have interest free deals and also reduce the price if you pay cash so don't be afraid to haggle. You also get lifetime jewellry cleaning for free! They have heaps of "sets" which include the wedding band.

I'm a jewellry lover from way back so I'm probably not the best person to ask - we spent a fortune on my engagement ring, wedding ring and wedding jewellry!

[Lisa]

I think you should look at what you want first before deciding on a price.
I had a certain style in mind when we looked at engagement rings. The one I wanted was a reasonable price, but not as much as we could have spent, but that was because I had my eye on a wedding ring that cost the same amount.
My sister got an engagement ring perfect for her that was a lot cheaper than her DF was planning on also. It really is about what is right for you.

ETA - You can always get your ring insured. All mine are insured. If it is under $2k(?) you can put it on your contents insurance.

[sneakysparkle]

The "recommendation" these days is 2-3mths wages (who comes up with these things?!) but I say go with whatever youre comfortable with.
A few of things to consider:

* Your DP will want to be proud of whatever ends up on your finger
* It's something of great sentimental value to pass on to your DD
* You dont HAVE to have a diamond engagement ring! You can still get something gorgeous, but less expensive. I have a pink sapphire and LOVE it, and get comments all the time
* You do have to LOVE it - I have a couple of friends who were a bit blah-zay (sp?!) about their rings at time of purchase and have since regretted what they got - one actually got a new one a couple of years later!
* Most jewellery stores have massive MASSIVE mark-ups - find something you like and then get prices of getting it made, you can save a fortune.

Thats all I can think of atm - all the best with what you decide!

[Indadhanu]

Well someone once told me don't spend too much because if you're ever in financial trouble and your ring is worth a nice amount of money its the first to go (from a woman who had to sell her engagement ring). But spend enough so that its nice and it'll last (no use getting something cheap and flimsy that might warp or split).

Thats just my opinion anyway... I'm pretty practical though lol, and not the funnest (is that a word? lol) person to shop with hahaha!

[briggsy's girl]

i agree with the other ladies - go with something you love, NOT the price tag on it! we spent under 1000 on mine (engagement and wedder), simply because we both liked the rings, not because we were looking at a particular price range. we looked at heaps, and nothing caught my attention! i know we could have gotten something similar with larger stones, and paid a whole lot more for it, but to be honest, i'm like you - i like simple, and was happier with the smaller stones!

i honestly think the rules of what the guy is supposed to pay are archaic! who CARES about the dollar value - it's about the sentimental value!

[Phteven]

I spent a lot less on my ring than we had budgeted for because I looked at heaps and they were all too boring and when I finally found one we both loved it was relatively cheap.
I agree that it doesn't need to be a diamond - the diamond convention is nothing more than a clever bit of marketing by deBeers.

[Kitt3n]

the diamond convention is nothing more than a clever bit of marketing by deBeers.

SOOOO0 true! Diamonds are actually MORE COMMON than the amythest!

DH wanted to get me a diamond at one stage - I told him that I dont want to be just as special as everyone else.

I have a lovely yellow sapphire that takes everyone's breath away.

As far as the cost is concerned - can you put a price on love? Does it really matter if it cost $100 or $10,000? Who cares for the cost - it is what it means that is the important part.

[satya]

As little as possible. You will appreciate the extra money saved when you pay for your wedding.

[Phteven]

As little as possible. You will appreciate the extra money saved when you pay for your wedding.

lol I'm the opposite. I would rather spend more on something I'll wear for the rest of my life and save on the wedding.

[Pretty Butterfly]

I fell in LURRVE with a $3000 eng ring, and flatley refused to let Adam buy it. We SO didn't have the money, even though we were both working at the time, with only the 3 kids, not 5!!

Within months it was on sale for $1800, interest free layby at Micheal Hills. So we layby'ed, and it took a few months but I have my perfect ring for almost half price!!!

So shop around, and dont be in a rush. The perfect ring WILL come along....

[feeb]

We spent more than we wanted to but we loved the ring!! Bonus was that it was on special or there is no way we would have got it as it was 50% off we just were lucky.

I had idea that i wanted princess cut diamond and when i tryed them on i didnt like it and neither did dh, we then spoted my ring and fell in love with it!! I onoy tryed on 2 rings and looked in 1 other shop before returning and getting the ring i loved!!

Go with what you like not how much it costs. As it is one special piece of jewlerry u will have forever.

[Muffy]

i didnt get to pick my ring and still to this day i have no idea how much its worth!!!!

[Antheia]

We spent a bit more than what we wanted. But the particular style i had in mind was not easy to find, nor cheap. I don't regret it at all though.

[Maruschke]

I wanted something plain, and I did not want the traditional solitaire diamond with claws or in a round setting. I ended up with a flat band with 13 little square diamonds in it. I absolutely love it, glad it is flat and not raised, glad it is different. We spent about $1400 i think.

If you want bling but are worried about the money, would you consider going to secrets? They have awesome rings, synthetic diamonds, and you can pick up a ROCK for much less than a grand. Depends on whether or not you want the real deal. I personally couldn't care if it is real or not, no one else will know!

[~Amy~]

Mine was just under $1000 from what i can remember & it has a matching wedding band. DF wanted to spend more, but i am happy with what i chose. I know its something special to keep forever, but to be honest i just wouldnt be comfy walking around with some thing that cost anymore on my finger.
Just because it doesnt cost $1000+, doesnt make it any less special

[Muppity]

Ok so I am totally different. I didn't get an engagement ring - I got an engagement piano. I figured that it is slightly more useful, is still beautiful and is really hard to loose LOL.

[Enchanted]

As everyone else has said.. go with what you love!! I knew what I wanted right from the start and DH knew it wasn't going to be cheap. I absolutely LOVE my engagement ring and wouldn't trade it for anything! We crunched them on the price and ended up getting about 1k off. We spent WAAAAY more on my engagement ring than the wedding but we still had a gorgeous wedding at a beautiful venue!!

You will know when you find it... Good luck searching!!