What is the Rule for Buying an Engagement Ring?
When it comes to buying an engagement ring, there’s a lot of pressure put on the man. Not only do you have to worry about the style but also the price. The kind of ring you buy is completely dependent on your personal situation and preference, but there’s a couple rules out there that some follow when it comes to buying rings. If that’s what you’re here for, here’s what we think of those rules!
Outdated Rules for Buying Engagement Rings
1) The Three Months Salary Rule
According to this rule, if a man makes $100,000 every year, he ought to burn through $25,000 on an engagement ring! I think we can all agree that that’s a little much, and no one out there should actually follow this rule. After additional costs such as insurance/warranty, the cost could go up to as much as 1/3 of someone’s salary. This rule doesn’t take into consideration the financial situation of each person or even other expenses such as the upcoming wedding and honeymoon.
2) The 1 Month or 2 Month Salary Rule
Even the two-month rule seems like overkill because that’s still a big chunk of money to spend on a piece of jewelry. The one-month salary rule doesn’t seem as bad and is more manageable for most men out there. In the end, it all depends on what you can afford to spend and what you think will make your partner happy. Avoid going into debt just so that the engagement ring you buy is slightly bigger.
3) The Age Rule
Another rule that’s been out there for a while is to purchase a ring whose diamonds size corresponds to the age of the partner. For instance, if the man proposes to a 32-year-old woman, he should purchase a 3.2-carat diamond engagement ring. This rule is obviously ridiculous and shouldn’t be taken seriously.
Best Advice: Make Your Own Rule
If you’re going to follow a rule for buying an engagement ring, you should closely consider your particular situation. The best approach to this situation is to have a conversation with your partner about expectations. This ensures that you’ll both be on the same page and that she won’t be expecting something completely different than what you’re going for. If you’re going to be together for the rest of your life, it’s a good idea to have a smooth start from the very beginning. Look at your finances and decide how much you can afford to spend on a ring. Keep in mind that you also have other expenses coming up like the wedding reception and the honeymoon.
Discussing the cost of the ring may not be romantic, yet it’s extremely significant. You may find out that your partner actually prefers gemstones instead of diamonds, or that she doesn’t believe in spending too much on a ring. You may also find out that she loves a particular style of a diamond ring such as a cushion cut or a princess cut and you can find the perfect ring for her.