How Much to Spend on an Engagement Ring

Learn how much you should spend on an engagement ring from private jeweler Kate Hemphill in this Howcast video.

I want to talk a little bit about how much to spend on an engagement ring. We’ve all heard the old saying two month salary, but really there is no rule of how much to spend on an engagement ring. But, it is important for you to set a budget and only look at rings within that budget or else you’re going to get your heart set on something that you may not be able to afford. Also, just determine what aspects are important to you and that will help you to determine your budget whether you want to buy a big stone or the stone with the best color and clarity. That will help determine what kind of stone you can get within the price range. 

One thing to remember when setting your budget, I know it’s going to seem like a lot of money right now for a little tiny thing, but it’s something that your significant other is going to wear for the rest of her life and think of it as an investment in your future. But, bottom line is, you can’t put a price on love so there’s no rules of how much to spend on an engagement ring.