How Much Money Do You Spend On A Wedding Ring

Perhaps a large number of these statuses will change once more around valentine s day we hear stories all the time of how much money you should spend on a wedding.

How much money do you spend on a wedding ring. Yes the old rule is to spend two months salary but that s just not very realistic for a lot of people nowadays. And just so you know that you re not alone. Your financial means should determine your budget rather than a worldwide average.

A 1 carat engagement ring costs an average of 5 500 and that s before you spend more than 1 000 on average for her wedding band. With 400 000 australians having a facebook status of engaged and a further 1 700 000 in a relationship that s a huge number of people either committed to a wedding or that may be getting engaged in the near future. But the wedding ring also packs some costs.

It s also observed women preferred white gold while men opted for tungsten metal wedding ring style. When choosing a ring for both male or female it all comes down to the metal the setting of the design and the number of diamonds featured in the ring. Average engagement ring cost.

However if you are someone who is living month to month on your salary or already suffering under the burden of significant student loan or credit card debt this may not be the most feasible or sensible option. The price has probably gone up in 2017 and we estimate that the average is about 6 800. No one should go into debt in order to pay off their engagement ring.

Ignore the two months salary rule and set a budget for a ring that she ll love. Our study found that one third of all respondents are spending between 1 000 to 3 000 on their engagement ring. While 5 900 is the national average cost of a ring the spend per couple varies.

So the answer to the question of how much you should spend on a wedding ring really comes down to personal preference and budget. It s no news that engagement rings are pricier than wedding bands. According to the knot 2018 real weddings survey the average amount many couples spend on an engagement ring is more than 5 600.