I know how to google :) but would love this groups view: how did you think about engagement ring cost? I know the old “x months salary” framing but would just benefit from hearing what others did. For context, my tc is about 250k. Partner and I don’t have a ton of $ though due to big focus on paying down loans till last year. So, doing ok but not swimming in disposable cash.

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I think this is a conversation to have with your SO about what they’re expecting and nobody here will be able to answer it for you

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My first ring was $3,600, and he qualified for 0% or near 0% merchant financing

My husband and I don’t come from money, and in our early 20s, it was smarter to keep that money in the bank.

Even today with the 5x in our household income today, we use a ton of 0% interest merchant financing to keep chunks of cash available for emergencies.

I’m so glad you paid $20k for your first ring, but even within those who make it into consulting, there are a wide range of circumstances.

And before you go there, just because you don’t have a chunk of money for a ring doesn’t mean you “can’t afford to get married”. It just means you may have to get a smaller, cheaper ring or pay in installments. All very normal things for most people outside of consulting.

As a matter of fact, within our first year of marriage we were able to buy our first home that we now own as an investment property. Our priorities were 1) liquidity and 2) appreciating assets

Again, not everyone has the same circumstances. So, fine to explore a range options.

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I went with my gut and it worked out. 1.75 ct off of James Allen. Learn the 5cs and find a good stone in your range. It also helped she just wanted a solitaire. I only spent ~$7k

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Also used James Allen, loved the process

I spent ~3.5k and she totally loved it. Same TC.

likesmart

Same story - highly recommend

If you are able to talk to your SO and get her thoughts on potentially saving some money here (i.e. not getting a brand name ring) and instead use that money for a downpayment on a home or other necessities might be a solid move

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Btw, spent $40K on her ring and I kind of regret - my wife also said I should’ve spent less and used that for something else.

likefunny

i just got engaged! i told my so what kind of ring i wanted - shape and setting and let him know around what min size i wanted.

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Maybe consider going to James Allen so you can see the sizes at various price points. At 250k you could get a really nice ring for about 10k, but if you want something extravagant it could go up much further. At your salary you could save up the cash for a few months and propose in the fall or winter

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I think 10-15k gets you very classy and great ones. I would just not go to Tiffanys as you pay 2x on materials. I had mine custom made from a goldsmith which saved a ton (and looks exactly like a Tiffanys)

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Spend a couple of grand and invest the rest! Do the same for your wedding too!

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Go to a diamond wholesaler and have them custom make the ring! You will get so much more bang for your buck. You could also look into lab grown diamonds. My husband spent about $20k but we went to a diamond wholesaler together and picked out the center stone (over 2 carats, D color and VS2 clarity—excellent cut- oval shape).

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Remember that prices jumped at the carat points so .99 is much cheaper than 1.01

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I spent about $2,500 in 2015. Went with a diamond the size of my birth year and had a couple flaws so “I”could be part of the ring and it made it under a Carat. Some small designs on the ring as well.

Go with a local shop and not a big box, they were much more flexible on pricing and design options.

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Bought online, had cash saved up for a $3000 ring. Bought a ring worth $4800, opened a credit card with cash offer $300 on $1000 spent plus points worth $1500 on travel so it actually came down to $3000 net when I bought it. Diamond is overrated, get gemstone instead ( in the center)

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I went for $2.5k and promised an upgrade later on. Enforces some commitment.

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Agree with the comments to talk to your SO about it (ring style, size, budget). Some people don’t care that much and some people care a lot more so I would use that to gauge how much to spend.

Also hand size may play a role so that’s another thing that may impact the decision.

I spent about the 5k. It was more so about the ring design and the quality/appearance of the diamond.

TC ~$200k I went with a smaller jeweler and had custom matching sets but she also was talking so much about this one set. So I bought her the first set… then saw mine and had them make a matching one for her.

Men’s 13 baguettes ~2.83 qt with small round diamonds along both sides ~.75qt $10,000

Women’s matching band, (not for wedding but she wanted one to wear on her other had) 9 baguettes ~1.9qt with ~.3 melee along sides $3,000
Engagement 1.75 solitaire with .5 melee $5,500
Matching band .75 small round ,$1,100

The diamonds are at least Ideal, G/F, VVS2… one may be less in color… but I’m happy and that’s all that matters

Ya, mines heavier and flashier… she’s gonna be jealous! It’s really about what you will be happy with and be comfortable spending. I’m getting married for the 2nd and last time. I’m in a really good financial position so felt comfortable stepping up and getting something a little flashy. When I first got married she got a CZ she liked and I had a hand me down white gold band about as thin as kite string.

I went with a 1.7ct ideal cut from Brian Gavin for my wife, which was about $25k a few years ago.

Imho, its about what she wants to wear and what you want to see her wearing, everybody else can worry about their own business.

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