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05.01.22
Engagement Ring Rules: Deciding How Much to Spend
When it comes to dropping your hard earned dollars on a diamond engagement ring, we believe in setting a budget before you ever lay eyes on the sparkly stuff. Because that sparkle does things to your brain, your heart, your handing over of every credit card in your wallet. And the last thing you want haunting your forever love is any type of engagement ring buyerâs remorse. But how to set that budget? Whatâs the average engagement ring cost? What are the “engagement ring rules”? Thatâs the big question, darling.
Going Rogue
We really thought that by now, all those traditional âtwo monthsâ salaryâ rules about what to spend on your engagement ring would be a thing of the past. Alas, those sentiments are still hanging out. So it might take a bit of will power, but we beg of you â break the engagement ring rules. Why? Because those rules donât take into consideration you or your lifestyle. Things like the gig economy, how many vacations you might want to take, or what kind of ring you actually want. And they certainly donât take into account the effects of our recent pandemic.
Surviving and Thriving
It should come as no surprise that our global health crisis of late threw the wedding industry for quite a loop. Weddings were put on hold, as were ring sales. Travel stopped, which meant no destination vacay proposals. Many were furloughed, while others were able to squirrel away some extra cash. So if youâre coming out of this whole ordeal affected in any way (um, thatâs all of us), the rules just arenât going to apply. Instead, you need to take a real look at what you are comfortable spending. And at ways to maximize that engagement ring budget to get what you want. And thatâs where we come in.
Talk Therapy
First things first, we recommend starting a convo. Thatâs right, your engagement ring doesnât have to be a surprise. Today, couples are totes talking about engagement ring cost before popping the question. And we love this. Because youâre about to spend your lives together, so it makes sense to make sure youâre on the same page about what types of rings you might want and how much you want to spend on them. Or how much you want to save and throw at a nice honeymoon instead.
Get Nerdy With It
If you want some additional help zeroing in on a number, you can use this engagement ring cost calculator. It will take into account some of those âextrasâ not included in the simple salary rule, and give you a ballpark budget that might help you close the confusion gap. Youâll still need to know what your ring priorities are, but at least this can give you a helping hand with the money stuff.
What To Talk About
Besides simply talking about the money stuff, talk about what you want. What are the must haves and what are the dealbreakers? Does your person want a flawless diamond and only a flawless diamond? While we wouldnât personally suggest spending a bunch of money on something you canât see, if itâs important to you, then that should be reflected in your budget. Basically, youâll know to only search for flawless, which might mean you go for a smaller stone or a lower color grade…trade offs, right? The 4Cs of diamond shopping truly are like levers you can adjust to find your ideal diamond within your ideal budget, so do that. Know what you want â a certain carat weight, clarity, color, etc. â and pull those levers to find the right balance.
Phone a Friend
In the old days, folks would often have a local jeweler they went to for all their special occasions. They might start with an engagement ring, but theyâd be back for wedding bands, anniversary gifts, birthday presents, and more. But then came a little thing called the internet. While it might have taken a leap of faith to purchase a diamond online 20 years ago, today itâs a vast share of the market, complete with photos and 360 degree videos of diamonds so you can really see them sparkle. But honestly, thereâs still nothing like a trusted jeweler to help you find the perfect diamond ring for you and your partner. Our Diamond Concierge service was created to be just that. No commission, no pressure, all friendly helping folks with tons of expertise and all the right connections. We can help you stick to your budget and find something super special that reflects your love story just right.
Mad Max
Our expert design team can also help you think outside the box to maximize any budget. For instance, a lab created diamond can help cut your price tag nearly in half (and yes, lab diamonds are real diamonds). If youâre looking for a big diamond, this is a great way to save serious cash. Moissanite is also an incredible budget-friendly option. These super-sparklers are super durable, just like diamond, and come in an incredible range of shapes and sizes. You can learn all this stuff, or you can rely on our team to help guide you in a direction youâll be happy with come question-popping day.
Break the Engagement Ring Rules
Once youâve got that âmust haveâ list in hand, explore our thoughtfully designed engagement and wedding rings, our collection of more than 20,000 certified, ethically sourced natural and lab grown diamonds and moissanite, or start creating your dream ring today with our design quiz, and get a free sketch!
Not finding what youâre looking for? Drop us a line at hello@frankdarling.com with a bit about your priorities (and your budget!) and weâll get you sorted, in style of course.
