How Much to Spend on an Engagement Ring

So you're ready to pop the big question, and the only little question you've got on your mind is how much to spend on an engagement ring. Save up 2-3 months' salary, right? Forget it. While that made-up rule might have been a means of measuring up, these days, it's only a marker of days gone by. TBH it's just not practical to follow some stupid rule that has nothing to do with you or your partner.

Here's the tea. Engagement rings are a pricy purchase, to be sure. But how much you spend has way more to do with you and the one who says, "I do." Let's get into it.

Brains Over Bucks

There are just about a million things to think about when it comes to the little 'ole decision of what ring to purchase.

The honest truth is with the rising cost of existence, there are more important things to spend money on than a ring. Are we saying you don't need one? Of course not. That would be a silly business move.

Oval Cut Engagement Rings

We are saying that if money is tight, make sure you're making the most of your dough by shopping smart. We have oodles of education to help you pick the perfect ring for the right price.

Forever-Ever

Smart shopping aside, you gotta keep in mind that this is a forever item. While we're all for getting the most bling for your buck, this isn't something you will replace in a year or two.

A diamond is a lifetime piece. In fact, it'll outlive us all. So spending money on a quality engagement ring is important. While you can always upgrade or add an eternity ring for a special anniversary down the road, you want to get something that can last the long hall right now. We get it, 10k might seem like a ton of money now, but if you break it up over the next 10 years, that's like $3 a day. And that ain't so bad.

What a Difference a Day Makes

You obviously want your ring to last 10 years. That part is easy. And while it's easy to look at a ring that's just ok but looks great today, you might want to look ahead. It's important to get an engagement ring that will stand the test of time and look good down the line.

Don't just think of today or next year when shopping for your engagement ring. Think about 10 years from now. This really matters with things like carat size. You don't want to wake up in a year or 5 and feel like it's too small. It's worth the extra money you'll spend now to ensure you've got a rock you'll be happy looking at a decade from now.

Stretch Your Budget

There are oh-so-many engagement rings out there and just as many ways to save on the perfect one.

Going with a lab diamond will save you around 50% over a similar natural diamond. And the best part is it's the same rock. Lab-grown diamonds are identical to natural diamonds down to an atomic level. So why not pick science and save?

Want to save even more? Moissanite is becoming a wildly popular alternative to diamonds. It's super sparkly, downright durable, and a fraction of the price. We love moissanite for all these reasons–obvi–but also because it allows people to size up and go home with the chonky fantasy that makes their heart sing.

Something like this 2ct Moissanite Kamellie would cost you less out the door than a 1ct diamond before you even pop it into a setting. If you're diamond determined, you can always finesse the details and get the most bling for your buck. There are oodles of loopholes when it comes to finding a quality diamond less.

Break it Down

Using a buy now, pay later service like Klarna can really help you stretch your budget, literally. Instead of spending a few grand up front, you can break it up over time. Payment plans really help you get the ring you actually want right now, so you don't have to settle for what you can afford up front–which is a total bonus if you don't happen to have $10k burning a hole in your pocket.

Check it. It becomes much more affordable if you break down the price of a ring that costs $5k, or even $10k over 3 years. In fact, it's probably less than your car payment. And for real, it's gonna outlast the car, no question.

In terms of a forever purchase like an engagement ring, it makes sense to break it down over time because it will last a long time. You don't have to buy an engagement ring every day, so why pay for it all in one?

Look At That Life-Long Realness

There is no set number that buys the perfect engagement ring. But while you're figuring out a budget that works for you, remember this is a forever item–not just a right-now expense. Boujee wasn't built in a day after all.

Whether you're low-key saving pennies or paying for that main character energy monthly, we can help you find the right rock for you on a timeline that does too.