How Much Should I Expect to Pay for an Engagement Ring?

If you are going to propose to your partner, then you must be dealing with the biggest and the most important question: How much should you spend on the engagement ring? Well, before proceeding, let us tell you that you are not alone who is in doubts about the budget of the engagement ring. However, there are other essential things that you should be worried about, such as the budget for the wedding.

You should take care of plenty of things before deciding on the engagement ring budget. To help you with your doubts, this article will discuss all the details that revolve around selecting an engagement ring. 

Why is An Engagement Ring So Important?

Before you try to find a solution, let’s rewind a bit and figure out what makes an engagement ring important? For starters, you know that it’s probably the most special thing that you are going to give to your partner. This single factor increases the value of the ring. Also, the ring acts as a symbol of all the overwhelming feelings, whether sad or happy, you have faced together. But, this doesn’t mean that you should go overboard with the spending and buy the most costly ring out there!

People get so entangled in the engagement ring mess that they forget about what will happen after they throw in the ring in their relationship. You will need to look into not just the wedding but the household that you are going to share with your partner. Nonetheless, you should know that all of this will go in vain if, after marriage, you are unable to maintain a healthy lifestyle

The 2 months Salary Rule

There is a most famous 2 months salary rule. Basically, it states that you should spend the total sum of two months’ salary to purchase an engagement ring. It’s a clever way to dodge any kind of expectations from your partner. It is not the best way to choose an engagement ring.

You should chuck all this and start by looking for engagement ring settings. Also, you can find plenty of creative ideas online. Just start shortlisting them. Once you have your picks, you can take the designs to your trusted jewellers. 

How Much Should You Expect To Spend?

Until now, we have talked about why you should not think about the amount that you are going to spend. However, this section is a bit on the materialistic side. After all, proposing with an engagement ring is a bit materialistic.

So, let’s twist the question a bit. Instead of looking answer to how much you should spend, you should look at how much should you expect to spend. Doing so will help you to set a particular budget for a ring.

An average engagement diamond ring costs from $3500 to $5000. This doesn’t mean that you can’t think of a budget less than this; you can. But now you know the budget you will need for an engagement ring if it involves diamonds.


Some of the most experienced people often suggest talking it out with your partner. You can casually slip in the ring talk by indicating towards “one of your friends.” Once you are in the discussion, you can certainly have a clue about the type of ring your partner expects.

Another thing you can do is discuss it with the family and friends of your partner. After you have made up your mind about the ring, you can start looking for it from the best diamond rings in Melbourne. They offer designs that have a distinctive style. So, you should check them out if you want something out of the box.