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How much should I spend on a wedding ring? 26m/$100k salary/no debt/150k NW/living in Texas. Look forward to everyone's opinion!

likehelpfulfunny
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If a woman requires an expensive ring, she probably isn’t that in love with her SO. Wouldn’t the counter argument to that be that a person who isn’t willing to buy his SO an expensive ring isn’t that in love?

That being said, i don’t think you need to break the bank. I also don’t think this is a matter of what you should spend. You can afford what you can afford. IMO, most jewelry doesn’t really retain its value so it isn’t an investment. That probably changes when you are spending on large/flawless diamonds.

My husband did it brilliantly. He figured out what he could afford/was able to pay without carving into his savings/investments/opening credit. Pretty sure he set a budget and saving routine leading up to the purchase. He told me what the budget was, and i decided what styles/sizes/etc i liked within that realm. I think this worked well because it was me doing my own give and take. If i wanted a bigger rock, i could get a simpler band or go down in the color scale. I gave him a general idea of what i was thinking and he nailed it, under his budget (by almost 5k).

I suggest trying something like that. She may end up changing her mind on needing a specific brand. She may also surprise you and say that she thinks the budget is too high given what your other goals are.

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The issue isn’t with jewelry or rings in general, it’s to do with diamonds. Diamond rings depreciate in value massively the moment you walk out of the store with it.

22kt gold jewelry without a diamond depreciates when you walk out of the store with it, but nowhere to the same extent.

12 years ago, hubby was working at Big 4 making about 130k and had 150k in savings. I found out that he was about to buy a engagement ring through my one of my girlfriend. I told him not to buy a ring and use that money towards down payment of a house. It was the best decision we made together. We ended up buying a house that I liked a few months before to our small wedding ($10k). Most of his 150k savings went towards the downpayment. He instructed the escrow company to add my name onto the title before we were married, this to me means a lot more than an engagement ring that has no ROI.

Fast forward to today, that 130k downpayment and me foregoing the ring allowed us to trade up on our house. Our current house is valued at $1.8mm with a little more than $1mm in equity. Our combine income is around $600k today and we are beyond fortunate to be able to live comfortably without the need of budgeting expenses. We both came from families with no money so we shared similar beliefs in handling finances which to me is important in a marriage.

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Wow!!! Can you adopt me....

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3x salary is the rule bro

funnylike

Pretax or post tax? 😂

likefunny

Just get her a ring pop. That should do it

likefunny

Less than 10.

likesmart

Here’s my advice: do some light solo research on local shops in town, then ask a trusted (likely older) (probably male) friend if they have a diamond guy/wholesaler. TX will have many. A local jeweler can set it for you, more bang for your buck. I would say, 3 months salary is typ.

Have her go shopping with you or with a girlfriend to find out what she likes.

If buying not from a store: buy the diamond from someone you trust, where someone you know personally has introduced you.

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When did it go from 2 to 3 months’ salary?

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Is that gross or net 😂?

likefunny

She already said what she wants. I think the only really questions left are Tiffany or Tacori. Then which one :)

likesmart

I would say 5,000-6,000 as a starting point assuming you’re looking at a diamond engagement ring. That’s enough to get you a good quality 1 carat ring.

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I spent $13k cash. 25M/ $99k salary/ no debt/ $80k NW/ living in T3 city

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And the ring is absolutely DOPE

likeupliftingfunny

Where are people living that they are worried about ‘becoming a target?’ I get it if you buy a 5 carat flawless that’s worth $100k+ and live in a developing country, but 15-20k rings are a dime a dozen in any major US city - pretty sure no one is getting their hands cut off

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Turning it inward does hide it. You learn to hold your hand in a way that hides the rock (closed fingers). I flip mine and carry my dogs leash in that hand so it looks like I have a simple gold band on.

likeuplifting

The less you spend, the more she truly loves you.

likesmart

Take a flight to Russia, pay for a translator and find those Russian engineered diamonds. Even the best experts in the world can't tell the difference. Also diamonds are never really forever. It'll take a few hundred thousand years but they all turn into lead

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Michael Scott says 3x annual salary

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I was making around $200k and spent $18k.

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Whatever you wouldn’t die over if it fell down a drain.

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Upto $25k (but it’s always personal obvs)

funny

Actually, one thing that might need consideration is her job. If she’s in the medical field, or biological/chemical research, might want to rethink what the ring needs to look like to not tear the latex gloves that she needs to wear for work. Either that, or be willing to have that worn as pendant instead.

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$15k MAXXX

funny

So glad I didn’t marry one of these materialistic women who think that a more expensive tiny rock makes life or the relationship better. Any of these self-important bimbos wouldn’t be able to spot the difference between a cubic zirc and a real diamond.

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Curious on how your thoughts on spending would change if her family was not wealthy, or if she did not have those extra properties?

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