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How Much Should You Budget for an Engagement Ring?

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Have you reached the point in your relationship where it’s time to finally ask your better half for her hand in marriage? Are you so in love that you can’t wait to shout it from the mountain tops or the altar at your wedding?

Some people know they’ve found the love of their life almost immediately while others take a little time to make this discovery. It doesn’t really matter how you get here, but it does matter what kind of engagement ring you have when asking your significant other for her hand in marriage.

Are you going to go big and spend a ton of money on the engagement ring? Or do you have no choice but to spend as little as possible because of money constraints? These questions need answers and guys need to know how much they have to spend and put aside in their budget for an engagement ring.

Just know that if you plan to ask her to marry you soon, you better be prepared to buy your engagement ring right away. That’s obviously a given if you want to get married sooner rather than later.

How Much Money Should I Put Aside for Her Engagement Ring?

At the end of the day, you obviously want to get your better half a fantastic engagement ring. You want her to fall head over heels in love with you again, and obviously the best way to do that is to buy her a big, beautiful, diamond engagement ring.

How much should you spend on this engagement ring? That seems to be the question on everybody’s mind when it comes to buying engagement rings.

Common wisdom tells us that a man should save up three months’ of his salary and use that to buy the engagement ring. This is a good rule of thumb if you’re looking to buy her something outstanding that she’ll never forget and always cherish.

On the other hand, if spending that much money on an engagement ring is going to cause you financial stress and strain, you could always go to a jeweler that will allow you to finance the ring and pay it back in installments. This is a definite option and one worth looking into since you can spend more money since you do not have to pay for the entire thing upfront.

Should I Tell People How Much I’m Spending on an Engagement Ring?

In all honesty, the only person who can really answer this question is you. If you do not mind telling everyone how much you spent on the ring, then go for it if that’s something you’re interested in doing.

On the other hand, it’s nobody’s business to know how much you spent on the engagement ring. They do not need to know anything and it is not your responsibility to tell anyone, including your future fiancé.

Conclusion

If you’re struggling to figure out how much budget you should spend on an engagement ring, please follow the guidelines we’ve shared with you today.

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James

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