How Much You Should Spend on Your Engagement Ring?



Posted on 12 Dec

Once the proposal is all said and done and the engagement is on, it’s time to look for an engagement ring design specialist. When it comes to engagement rings there is nothing better than customizing your own to have a one-of-a-kind ring that no other person will ever own.

It’s important to figure out ahead of time how much you want to spend on the ring, and you shouldn’t go shopping until you have settled on a price. It can get very tempting to splash out a lot of money on a ring without a second thought, but this really isn’t in your best interests. There are a lot of wedding expenses coming up and you need to set up a budget that includes the ring before deciding on one.

Engagement Ring Designer Toronto

One of the best things about working with an engagement ring designer Toronto is you don’t have to work within the confines of the prices of diamonds in jewelry stores. You can let the customized ring designer know what your budget is ahead of time and then he will be able to show you all your different options.

If you just go shop in a jewelry store, your options are very limited. You may see a beautiful diamond ring that you absolutely love but it comes with a one carat diamond that you can’t afford. If you are working with a customized jeweler, on the other hand, you could have the same style with a smaller diamond. In fact, your choices are limitless when you decide to get a custom-made diamond engagement ring.

The Average Cost of an Engagement Ring

It’s estimated that the average cost of an engagement ring in 2019 was about $6,000. When you look at that number it’s important to remember that there were a lot of rings that cost more than that price and a lot of rings sold that cost last. This was just a national average and it’s estimated that about 33% of the buyers spent anywhere from $1,000 up to $3,000 on the ring. It’s also estimated that 10% of the shoppers were spending less than $1,000.

The cost of rings can also vary from one region to the next. Don’t believe anyone that tells you that there is a hard and fast rule regarding how much you can or are expected to spend on an engagement ring. This may include the myth that you should be spending the equivalent of 3 months’ worth of salary for the ring. This is simply not true and what you should spend is what you can afford.

Custom Engagement Ring Jeweler Toronto

It’s a good idea to get in touch with a custom jeweler in Toronto before going out shopping for a ring. You may find that you’ll be able to get a better ring for the price as compared to a ring that you could purchase in a jewelry store. You’ll also have the option of choosing a unique design that symbolizes the love that you have for one another.

You’ll find that you have a lot more options when you approach a custom engagement ring jeweler to make the ring. If, for example, you would like a fancy design but can’t afford a large diamond, the jeweler can show you various options. There are many other types of gemstones available that would look great in an engagement ring such as rubies, emeralds and much more.

You should also ask the custom jeweler about lab-grown diamonds. These diamonds have all the genetic markers as the diamonds that are mined but they are offered at a fraction of the cost. They look like diamonds because they are diamonds. They are made in the same way as a diamond that comes from a mine and the only difference is, they are grown in a laboratory. These diamonds are trending right now and may fit into your budget perfectly.

Purchase an Engagement Ring and Wedding Ring Set

Another important thing to keep in mind is the wedding band. If you purchase an engagement ring on its own without a matching wedding band you may have a hard time finding a wedding ring that will fit perfectly with the engagement ring. You will find sets of rings that you can buy at a jewelry store but when you are looking for a set you are limiting your options even more. When you work with a Toronto engagement ring design specialist, he can design both rings together so that they fit perfectly.

You may find that you can get a better price if you buy both rings at the same time. You will have to get a wedding ring eventually anyway, so it makes a lot of sense to get both the engagement ring and the wedding band at the same time. Not only will you end up saving money, but you will also be sure that the rings are made for one another.

How much to spend on an engagement ring?

There is no hard and fast rule regarding how much you should be spending on an engagement ring. Look at all your upcoming wedding expenses and at least get a general idea of where you stand. It’s easy to say now that you will spend more on the engagement ring and less on the bridal gown. When it comes time to pick out a beautiful gown, however, you may regret that you spent so much on the ring.

Do your best to figure out a reasonable budget for the ring. The most important thing you can do regarding the cost of the ring is to have a maximum pre-determined price in place before shopping and be sure to stick to this number.

If you’re looking for an engagement ring designer Toronto please visit liviadiamonds.com today. You’ll be surprised at how reasonably priced an exquisite engagement ring and a wedding band can be!

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