How much money to spend on an engagement ring

Stefano Navi Anna Halo Lab Diamond Engagement Ring

So you’re ready to start looking for an engagement ring but you’re not sure where to start looking in terms of price? We’ve got you! It can be confusing and overwhelming to begin your search when you may not have an idea of how much engagement rings actually cost. Prices can vary greatly from a couple hundred dollars to thousands of dollars.

Traditionally, there were often rules that people followed when choosing their engagement ring budget. For instance, spending at least two months worth of your salary. That means, if you make 60,000$ per year, you should spend 10,000$ on an engagement ring.

These days, there are no rules about how much to spend on an engagement ring. The most important thing is that you find a ring you (and your future fiancé) love while fitting it into your budget! So with that said, how do you choose how much to spend?


Do you know what kind of style your S.O. wants? Maybe they’ve hinted at their engagement ring preferences or have a Pinterest board full of inpo. Either way, it’s good to have an idea of what you’re looking for. From there, we recommend shopping at a variety of stores both in-person and online to see what you can find. You may be surprised at the different price points. Luckily for you, there are beautiful rings that can fit into any budget. 


Don’t underestimate the importance of buying a high quality engagement ring. This special piece of jewelry should last a lifetime and so it’s important to buy a high quality ring that will last the test of time. You can find high quality rings at many price points. You may just need to get a ring with a smaller diamond if you’re budget is tighter.


The type of diamond you choose will greatly affect the cost of your engagement ring. For instance, lab grown diamonds, which are identical to traditionally mined diamonds, can be purchased at just a fraction of the cost! This means you can get more bang for your buck and get a larger nicer ring. Or save some money to put towards other wedding expenses by buying a comparable lab grown diamond that’s cheaper than it’s traditionally mined counterpart.

Shop our lab-grown diamond engagement rings here

So now that you’ve read our tips – how much are you going spend? Regardless of your budget, we hope you find the ring of your fiancé’s dreams. Happy shopping!