Wedding Ring Cost: The Hardest Wedding Decision?
Are you thinking about popping the big question? The first thought that comes to mind will probably be whether she will say yes or no. However, the second thought typically is “How much should I spend on the wedding ring?” So, how much should an ordinary wedding ring cost? Hint: forget that old “two months’ salary” rule.
Thinking both emotionally and rationally, one must consider these two major factors:
- The expectations of your Lady
- Your financial situation
Finding the Balance Between Beauty and Budget
Everyone has a different situation; this is why it is important to know where you stand financially. You should avoid relying on that overrated, “two-month salary rule” that was promoted by marketers themselves. Instead, go for an average ring that doesn’t break the bank.
Your Fiance’s Expectations
There is no other way around it. An engagement ring holds a lot of significance. And here is why:
Being a symbol of your love and commitment, an engagement is proof that shows you’ve fully invested yourself in the relationship and are aiming for a shared future.
A lot of women spend hours on end dreaming about their wedding and that perfect ring, its style, and the diamond, but the cost of the ring usually isn’t something they’re preoccupied with. So, if the ring you buy didn’t measure up to their expectations, it can be a big disappointment. That ring is going to be the single most significant piece of jewelry that she owns. And obviously, they’re looking for something good enough to show to their family and friends.
Your Financial Situation
Do not neglect your financial situation. After all, your finances will merge once you get married. And the last thing you want is to be broke because you went for a wedding ring that cost more than you could afford. Avoid putting yourself in debt to buy an expensive ring. In the US, many young adults are already buried under student loan debt.
Below are a few things to look at that will help you determine your financial ability:
Your expenses: Things like bills, food, and any debts that you’re paying currently, like car payments or student loan.
Your savings: How much money do or can you save every month by cutting off on extraneous things? And how much have you saved already?
Your potential income: Does your job offer a lot of potential growth in the future? If yes, it is a great thing that you need to put into consideration when deciding on the cost of your wedding ring.
By analyzing these factors, you will be able to estimate the amount you can easily spend. Try only to spend what you have, without financing, to avoid debt. Think wisely and make a decision that you both feel comfortable with.
Browse wedding rings in all price ranges!