Have you ever heard the advice that an engagement ring should cost you around 3 months of your yearly salary? We’re here to let you in on a little secret – you don’t need to spend your life’s savings on an engagement ring!
What we will say is a diamond engagement ring is an investment. This piece of jewelry will last a lifetime. It’s important to do your research and choose a ring that is high quality and will last the test of time.
These days the average amount people are spending on an engagement ring is around $5,500. However, many people are spending a lot less than that! Here are our tips for figuring out how much money you should spend on an engagement ring.
Create a budget
Are you willing to go into debt to buy the perfect ring? Before you begin on your search for the diamond engagement ring – create a budget. You want to know what you can afford before even beginning your search. And don’t worry - there are options for all budgets.
Do your research
Once you have your budget, it’s time to start looking! Take the time to research what type of ring you can afford and what jeweler you should buy from. Just make sure that you’re buying from a reputable jeweler who you can trust.
Consider lab-grown diamonds
Have you heard of lab-grown diamonds? They’re the affordable twin sister to traditional mined diamonds. Virtually the same in every way except for their price tag! You can either pocket the savings or choose to buy a larger stone with the same budget. Our lab-grown diamonds start at just $184 – shop the collection here.
Do what’s right for you and your partner
There is no magic number that will work for all couples. Everyone has a different financial situation. You have to be true to yourself and your lifestyle. Remember that the price of the engagement ring has nothing to do with your love for one another!
Our advice is to create a budget and stick to it. If you have the means to spend $10,000 on an engagement ring, go for it! But don’t feel like you have to. There are many beautiful high quality lab-created diamond engagement rings on the market these days for under the national average of $5,500.
Are you ready to take the plunge? Stefano Navi’s high quality, beautiful lab-grown diamond engagement rings start at just $370.00. Shop the collection here.